Each fiscal officer is asked to project the income and expense activity for the fiscal year. This budget includes the cash balance carried forward at June 30. A reappraisal may be considered if the activity of an account is going to exceed the budget prepared at the beginning of the fiscal year. This is necessary so that the activity of an account in excess of that approved by the Board of Trustees at the beginning of the year can be identified and approval sought, in accordance with the Board of Trustees' decision rules. Grants and Contracts Establishment of budgets for funds from grants and contracts, whether from federal, state, other government or private sources, is handled by Research and Projects Fiscal Management.
Fiscal officers are encouraged to maintain independent budget controls if they so desire.
Research and Projects Fiscal Management is responsible for administering the financial aspects of externally-sponsored research, training and other miscellaneous programs excluding student aid. The unit reviews grant and contract budgets for mathematical accuracy, conformity to agency and University guidelines and proper inclusion of indirect costs to the extent allowable by the sponsor. Once the University is authorized to spend funds based on a grant or contract award accepted by the Chancellor, Research and Projects Fiscal Management prepares a request to establish a new account against which the sponsor's share of expenditures will be charged. The office pre-audits proposed commitments by the fiscal officer, such as purchase requisitions, invoice vouchers, travel vouchers and appointment papers, to assure conformity to agency and University policies and to assure that adequate funds are available in the budget. If any problems are encountered, the documents in question are returned to the fiscal officer for correction.