(401B) Budget: Accountability, Control and Revisions
Kansas Athletics requires that approved budgets not be exceeded. Therefore, it is imperative that staff members with budgetary responsibility (e.g. coaches, program directors, department heads) operate within their budget guidelines. Staff members are held accountable for violating this policy.
Coaches, program directors and department heads are held accountable for the depletion of budget accounts, substantiating unbudgeted expenditures and/or justifying the use of private funds to cover budget overruns. Requests for any unbudgeted expenditures must be submitted first to the appropriate supervisor and if approved then to the Associate Athletics Director/Internal Affairs. The Associate AD/Internal will submit comments regarding unbudgeted expenditures prior to the expenditure being presented to the Director of Athletics for final approval.
The oversight and approval of funds expenditures is a central component of the Kansas Athletics budgetary control system. Prior to committing Kansas Athletics to a financial obligation, a staff member must have the request approved. If prior approval is not obtained, the individual staff member may be held personally responsible for the resulting charges. Only those with approval authority pursuant to Policy 410 can financially bind Kansas Athletics.
The Chief Financial Officer, in conjunction with the Associate Athletics Director/Internal Affairs, reviews all purchase requisitions and analyzes expenditure levels to ensure that budget allocations are not exceeded.
It is recognized that there are areas within most budgets where staff members have little or no control (e.g. physical plant operating costs, etc.); however, in the areas that can be controlled, expenditures should be carefully monitored.
Once a purchase request is approved, it is processed by the Business Manager in the Athletic Business Office, according to established purchasing procedures (see Policy 404, Purchasing Procedures, in this Manual).
Monthly Budget Reports
The monthly budget report is a tool which has been developed to assist managerial staff with the efficient fiscal administration of their budget accounts. Monthly budget reports reflecting a comparison of budget to actual expenditures are prepared by the Business Manager. Budget variance analysis comparing actual expenditures and encumbrances to approved budget figures is also performed and budget reports are generated.
The Business Manager reviews the reports to ensure appropriate usage of allocated funds. Copies of the reports are distributed to staff members who are held accountable for cost center control. The Business Manager is available to personally review these reports with staff members.
Margin of Excellence account balances are available by contacting the Athletic Business Office.
Requests for major revisions to the approved budget must be submitted in writing to the Associate Athletics Director/Internal Affairs, who ensures that such revisions are in compliance with University guidelines. The request is then submitted to the Director of Athletics for approval. Individuals with budget control responsibilities are permitted to adjust specific line items (e.g. funds may be transferred from one object code to another) to cover necessary expenditures in another area. However, extreme caution must be taken to insure that the budget’s bottom line continues to remain in balance. Further, the total Kansas Athletics expenditure budget can only be revised with the approval of the Chancellor and the Kansas Athletics Board of Directors.