Welcome to the UCO Budget Office Website

The Budget Office is responsible for the development and implementation of the University's Education & General (E&G) Operating Budget and managing the E&G budget throughout the fiscal year to ensure budget activities are in accordance with the University's policies and procedures.  The Budget Office is here to assist you with your E&G budget questions, issues, one-on-one training, and group training.

The Budget Office is located in the Lillard Administration Building, Room 122.


BUDGET METHODOLOGY

(Click on one of the item listed to jump directly to a topic)

Planning

UCO has in place a comprehensive budget development process for all university funds based on the University's Long-Range Plan. This process includes input from department heads, directors, deans and vice presidents as well as review by representatives from various faculty, staff, student groups and committees. All priorities and requests are reviewed by the Executive Committee and the President for final approvals and actions.


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Allocation

The appropriation allocation system used by the Office of State Regents for Higher Education is based on a peer group concept that establishes a funding "need" for each institution. This is used as the basis for distributing appropriations provided by the legislature. Tuition rate increases are capped by the legislature and must be reconsidered on a regular basis for further increases to be permitted. Other revenue sources for higher education vary from institution to institution.


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Monitoring

Operating and student activity funds are monitored throughout the fiscal year. The salary projection file is maintained for employee information, FTE, funding, projected expenditures and projected fund balances. Changes to the projection file are entered as needed and checking of edit reports to verify data accuracy and agreement with other files is an on-going process.

Before the close of the fiscal year, the Budget Office with the Office of Business Affairs, begins estimating end-of-year expenditure balances and revenue receipts. After year-end closing, these balances are identified at the account level. General revenue and general university balances as well as balances from other funds available for expenditure are tabulated by the Budget Office to address one-time university needs. A list of one-time and immediate priorities and commitments is complied and an ongoing account of the status of these balances is tracked throughout the year.


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Assessment

Various program reviews occur each year in the academic area of the university. While there are no formal procedures for assessing non-academic areas, the Budget Office, through its monitoring procedures, can assess the successful management of all university accounts. Funds allocated for a particular purpose are tracked to ensure proper usage.


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Accountability

Account or organization managers are responsible on a daily basis for effective fiscal management of each university account. The Budget Office and the Office of Business Affairs review monthly all accounts to ensure compliance with the UCO's deficit policy as well as other university financial procedures. In all cases, account sponsors are ultimately responsible for the financial management of their accounts and are accountable to the university for the proper use of all funds. Future budget planning is impacted directly by the proper administration of university resources.

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