Welcome to the Budget Office Web Page!
The Budget Office is responsible for developing, monitoring, tracking, analyzing, and ongoing rebudgeting of the University's Educational & General and Auxiliary Operations budgets.
Why do we budget? If we had unlimited resources, budgets would be unnecessary but clearly, we will never operate in an environment where unlimited resources are available. In an effort to utilize its resources as effectively as possible, the University follows a financial plan. Budgeting is a mechanism for setting priorities for institutional activities.
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A budget is a plan of action. It is also a form of contract. The state of Pennsylvania provides a state appropriation, our students provide tuition. In return, the University provides instructional, research and public services, etc.
- A budget represents a list of activities all of which include a cost.
- A budget provides explanation in a cumulative sense to a number of interdependent activities such as the operation of academic departments, library services, student support services, and administrative support services.
- A budget is a control mechanism. The flow of resources to activities is regulated in accordance with institutional objectives and strategic plans. Therefore we have departmental operating budgets, school equipment allocations, student wage budgets, etc., all of which are determined and approved by executive management.
The Budget Office completes “rebudgets” several times during the fiscal year. After the University's original budget is completed, a “fall rebudget” and a “spring rebudget” are completed. These rebudgets provide a very important financial picture and are used by the University's executive management to support decision making.
We want you to be successful with your budgeting responsibilities! Please browse through our web site to learn more about who we are and what we do.
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