Pol-Budget Entries and Revisions

policy budget entries revisions modified Thu Jan 30 2020 15:45:14 GMT-0500 (Eastern Standard Time)

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University of Louisville

OFFICIAL
UNIVERSITY
ADMINISTRATIVE
POLICY

POLICY NAME

Budget Entries and Revisions

EFFECTIVE DATE

November 11, 2003

POLICY NUMBER

BFP 012

POLICY APPLICABILITY

This policy applies to Lead Fiscal Officers and Unit Business Managers with Budget Responsibility.

POLICY STATEMENT

The Office of Budget and Financial Planning, Controller’s Office and Office of the Executive Vice President for Research and Innovation have the responsibility of approving the initial budget load and any subsequent changes to the budget. In order to assign and detail responsibility of these changes to the respective area that should make them, the Finance Responsibility Matrix was created. The Finance Responsibility Matrix outlines the functional areas responsible for overseeing the initial load of the budget into PeopleSoft Financials and any subsequent revisions or adjustments. For the initial load of the budget, please refer to the Reviews, Approves Budget column for the functional area responsible for each program code grouping.  Similarly, refer to the Reviews, Approves, Enters column under the Subsequent Changes heading for the unit responsible for maintaining budgets throughout the year.

As indicated by the matrix, only the functional area specifically designated can make manual entries into the system.  In the event that correcting entries should be required, only the responsible office specified by the matrix should make these as well.

REASON FOR POLICY

To provide accountability and direction for budget loads, entries, and revisions by program group, fund code, and entry type.

RELATED INFORMATION

Finance Responsibility Matrix – University Reports Financials/Financials – Listings or Finance Responsibility Matrix (pdf)

PROCEDURES

Procedures and other reference information for the actual budget entries can be found here: http://louisville.edu/provost/budget/policies

FORMS/ONLINE PROCESSES

Those units needing to make budget revisions for program codes which Budget and Financial Planning is responsible for can refer to the instructions and form online; http://louisville.edu/provost/budget/refinfo.

ADMINISTRATIVE AUTHORITY

Vice President for Finance and Chief Financial Officer

RESPONSIBLE UNIVERSITY DEPARTMENT/DIVISION

Budget and Financial Planning
Grawemeyer Hall, Room LL20
2301 S. Third Street
Louisville, KY 40208
502-852-6166
budgets@louisville.edu

HISTORY

Revision Date(s): July 24, 2016

Reviewed Date(s): July 24, 2016


The University Policy and Procedure Library is updated regularly. In order to ensure a printed copy of this document is current, please access it online at http://louisville.edu/policies.