Budget
1. PURPOSE
The purpose of the Budget Policy for Brigham Young University–Hawaii (“BYU–Hawaii” or “university”) is to ensure that all funds are budgeted and used to help further university purposes. The budget process provides a method for the Board of Trustees of The Church of Jesus Christ of Latter-day Saints (“Church”) to approve usage of the sacred funds while providing departments instructions on how to expend them. All funds are determined each academic year to help fulfill university purposes.
2. POLICY
BYU–Hawaii is a private university, and university budget information is private and confidential. Access to budget information must be restricted to authorized university employees only, and authorized employees may only use the information for authorized purposes. An employee’s failure to keep budget information confidential may be the subject of university disciplinary action up to and including termination.
3. IMPLEMENTATIONS
3.1 Budget year
The budget year for the university is January 1 through December 31. Tuition is determined on an academic year from September 1 through August 31.
3.2 Strategic Planning Process
Each budget year, deans and directors must submit budget requests as part of the university’s strategic resource planning process. Physical Facilities and the Office of Information Technology may also request funding for special projects through the university’s strategic resource planning process. After reviewing the submitted budget requests, the President’s Council proposes a budget that is then presented to the university’s Board of Trustees, which considers and approves the budget.
3.3 Operating Church Funds
Church-appropriated operating funds must be spent within approved budget categories and may only be transferred between categories as approved by the Budget Office. See the Budget Adjustment policy.
The Church-appropriated operating budget allows for specific potential carryovers (e.g., research, equipment) from one year to the next. Deficit budget amounts at year-end are taken out of that unit’s funds for the following budget year. See the Budget Carryover policy for additional information.
3.4 Positions
No full-time faculty, administrative, or staff personnel may be hired in excess of approved full-time equivalent (FTE) positions. Hiring part-time faculty, part-time staff, and students is based on funds approved in the budget.
3.5 Reporting
The Church Educational System Commissioner’s Office, which acts as a support staff for the university’s Board of Trustees, reviews financial reports monthly to monitor the university’s operating and project budgets. Budget to actual reports are regularly generated for each cost center. Cost center managers are responsible to review these reports and manage accordingly.
3.6 Auxiliaries
All auxiliary operations are self-funding and should earn adequate revenues to cover all operating costs. Both annual and monthly budgets are required from these organizations. Appropriated funds should not be used to support the ancillary budget needs (e.g., equipment, supplies, travel) of FTE positions when salaries are funded with non-appropriated funds (“soft positions”). No appropriated funds should be transferred to non-appropriated funds or vice versa.