A Budget Amendment is needed whenever a department wants to change, adjust, or reallocate their approved budgets. Budget amendments are usually initiated by the department by contacting the University’s Budget Office. The Budget Office reviews with the Cost Center Steward the purpose and the need for amending the department’s budget. Approved budget amendments are then entered into the University’s “Workday” finance system, which routes the amendment to Financial Services for final approval.
- Budget amendments to appropriated cost centers should be budget neutral and are needed when budgets need reallocating between cost centers.
Budget amendments to auxiliary cost centers can be used to reallocate budgets and to adjust or change an auxiliary operation’s budget. These budget amendments need not necessarily be budget neutral and usually arise when there is either a change in forecasted revenues or some other operational change in the auxiliary.
Unit-controlled budget amendments are initiated by the cost center steward and approved by both the Budget Office and Financial Services. College-controlled budget amendments can be initiated either by the Budget Office or Financial Services. Approval is made by the non-initiator of the amendment.
Budget amendments adjust budgets. Journal entries correct actual revenue and expenditure entries to the general ledger. Accounting Services should be contacted for making general journal entries.
Budget amendments should have the proper documentation and an explanation of the amendment attached to each approved budget amendment.
Proper approvals, including Cost Center stewards, are required for each budget amendment and should be evident in the supporting documentation attached.
- Call the Budget Office for assistance or questions regarding budget amendments (ext. 1160).