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University Purchasing Policy, Budgeting RequestsAll faculty members must conform to the policies and procedures outlined in the Park University Purchasing Policy. All check requests for budget line items must be approved by the appropriate Department Chair or Associate Dean or Dean, then submitted to the Office of Academic Affairs to initiate the order or release of funds. Each category of budget line request has a specific procedure to follow to authorize the expenditure or release of funds. There must be sufficient funds available in a budget line for authorization to occur. Budget RevisionsBudget revisions within a department budget may be initiated by the Department Chair. Funds can be transferred from one budget line to another within a department's budget when excess funds are available within a specific budget line. A Request for Budget Revision must be completed, including the budget line number(s) from which funds are to be transferred and the budget line number(s) to which funds are to be transferred. The signed Request for Budget Revision must be forwarded to the appropriate Dean. Deans may approve budget transfers up to $500. Budget transfers that are larger than $500 must be sent to the Provost with a recommendation from the Dean. A department may not exceed its total overall budget. Budget revisions may be restricted if insufficient funds are available in other budget lines, to insure fiscal stability within the University, or for other unforeseen situations which might arise. Requests for which a budget balance does not exist and which are subsequently returned can only be resubmitted by increasing the necessary budget line item an appropriate amount. When budget revisions are requested, the amount being increased must be offset by a like amount(s) elsewhere. All area Vice Presidents and Department Supervisors affected by these changes must indicate their concurrence. The completed "Request for Budget Revision" is then forwarded to Vice President for Finance and Administration for the revision to be made. Any and all exceptions to this procedure must be presented to the President for further action. --------------------------------- University Resources |