The function of the Georgia Tech Budget Office (Office of Institute Budget Planning and Administration) is to plan, prepare, maintain, monitor and report on all institutional budgets at Georgia Tech according to established Institutional and University System of Georgia (USG) policies. The Georgia Tech budget expresses the priorities of the Institute in terms of dollars. These intentions include a fiscal year (July 1 - June 30) plan for the Institute, which is reflected in the Annual (Original) Operating and Capital Budgets. Any changes made during the fiscal year must be reflected through an amendment process.
The President of the Institute is held responsible by the Board of Regents (BOR) of the University System of Georgia for planning and administering all programs and related budgets for the Institute. Administrative and planning responsibility for budgetary units within Georgia Tech is delegated by the President to the Provost, Executive Vice Presidents, and Vice Presidents. This responsibility is further delegated to division heads, including deans and other division heads reporting directly to the President.
The Budget Office is required to follow an established set of guidelines and policies set forth by the State of Georgia, the Board of Regents, and the Institute. These guidelines are found in Section 7.2 (“USG Budget”) of the Board of Regents’ policy manual and Section 8.0 (“Budget Process”) of the USG Business Procedures Manual. Key portions of the BOR policy are cited below.
7.2.3 Operating Budgets
Each USG institution shall prepare and submit to the Chancellor an annual operating budget within the limit of funds allocated by the State plus estimated internal revenue of the institution from all other sources. Operating budgets of separately incorporated athletic organizations are specifically excluded from this process, although the transfer of student fees to those separately incorporated organizations must be reflected as a single item in the budget submitted to the Chancellor. (BOR Policy Manual Section 7.2.3)
7.2.4 Budget Amendments
Each USG institution is authorized to maintain and update its annual operating budgets throughout the fiscal year. Such updates may be made without prior approval of the Board of Regents.
Institutions shall report all budget amendments to the USG chief fiscal officer on a quarterly basis under procedures developed by his or her staff. The Chancellor and the USG chief fiscal officer reserves the right to require prior approval of the budget amendments at any USG institution that he or she determines has failed to manage its budget within available resources or in a manner consistent with Board of Regents’ goals and priorities. The Chancellor or the USG chief fiscal officer may direct that the institution develop a remediation plan to assure more appropriate decisions on future budget changes. (BOR Policy Manual Section 7.2.4)
Terminology and Procedures:
Terminology and procedures for Georgia Tech’s budget preparation and amendment processes are found at the Budget Office’s website at the following link – http://www.budgets.gatech.edu/.