Budget Amendment Q&A

  • 01. What is budget amendment?

    Budget amendments refer to all budget adjustments after an original budget is established at the beginning of a fiscal year.

  • 02. What supporting document is required for budget amendment request?

    A change order form with appropriate authorization is required.

    (1) Change order form

    A change order form is required to describe the reason for changes, and the details of budget increase or decrease. Information includes but not limited to ledger account, cost center, program, fund, grant, and amount. Click here to access Budget Change Order System.

    (2) Appropriate authorization

    Budget amendment will take effect after proper approval in WorkDay.

  • 03. What‘s the turnaround time for a budget amendment process?

     FP&A will process a budget amendment request in three working days after receiving complete supporting documents.

  • 04. Who can authorize a budget amendment before submitting to budget team?

    Different authorization are required in different scenarios, and the details are shown as follows:

     

    Request Budget Transfer:

    (1) Transfer Personnel Budget within the Cost Center

    Approved by Budget Owner and HR for staff personne;
    Approved by Budget Owner,Faculty Affairs and HR for facultu personnel

     

    (2) Transfer Non-personnel budget within a Cost Center

    Approved by Budget Owner

     

    (3) Transfer Budget among various Cost Centers

    Approved by the responsible Budget Owners;
    Personnel related budget also needs to be approved by HR as well as Faculty Affairs (if necessary)

     

    (4) Further approval from Vice Chancellor to be needed,if

    The projected expenditure in any ledger account that exceeds the amount shown in original approved budget by more than 25%
    The projected increased expenditure is over $80,000 in any ledger accounts.

     

     

    Request incremental budget:

    (1) Over-Run budget can be absorbed by the additional resources

    Approved by Budget Owner,if the over-run expenses can be absorbed by the additional incomes (e.g.the addional grants,gifts or other incomes)

     

    (2) Over-Run budget cannot be absorbed by the additional resources

    Consult with budget management team in advance and grant the final approval from Vice Chancellor