POL - 30.02.1 Budget Administration Policy

1. Introduction

Pursuant to authority vested in it by the General Statutes, and consistent with the provisions of The Code of the University of North Carolina, the Board of Governors has delegated to the board of trustees of the constituent UNC institutions several duties and powers, one being Budget Administration.

2. Scope

The Board of Trustees shall advise the chancellor with respect to the budget development of budget estimates for the institution and with respect to the execution and administration of the budget of the institution, as approved by the General Assembly of North Carolina and the UNC Board of Governors.

3. Budget Development

3.1 Each year, the institution will engage in a process of reviewing the current year’s budget to support and inform the budgetary decisions for the next year.  The budget will account for the impact of enrollment changes, approved rate changes to tuition, fees, and other student charges, debt service and inflation on mandatory expenses (eg, utility rates and mandatory benefits changes). Initial estimates for the general fund are also informed by the Office of State Budget and Management and the UNC System Office. The budget will be prepared on an All-Funds basis in accordance with UNC System guidelines. The budget will be submitted annually to the Board of Trustees for approval and then subsequently for review of the UNC Board of Governors.