Annual Operating Budget
The University’s annual operating budget is a statement of anticipated revenue and proposed expenditures for a fiscal year summarized in the University of Illinois Budget Summary for Operations . It identifies the proposed sources of funds to finance programs and the functional nature of the expenditures such as instruction, research, or public service. When the Board of Trustees approves the Budget Summary, this document then functions as the University's authorization to incur expenditures and to collect and apply revenues to the appropriate activities.
Adopted Budget (Original Budget)
An adopted budget is the initial permanent amount allocated to a C-FOAP. The adopted budget for state, institutional, self-supporting, and service plan funds is recorded in Banner Budget Development.
Permanent (Recurring) Budget Adjustments
A permanent budget change or transfer is one that recurs, impacting the available budget for the current and succeeding fiscal years.
Temporary (Nonrecurring) Budget Adjustments
A temporary budget change or transfer does not recur and impacts the available budget for the current fiscal year only.
An accounted budget is the adopted budget for each object category plus or minus any permanent (recurring) and temporary (nonrecurring) changes. The revised budget represents the budgeted amount of recurring and nonrecurring funds available for the current fiscal year.
Budget Balance Available (BBA)
A C-FOAPs budget balance available is the accounted budget minus actual fiscal year-to-date expenditures, minus fiscal year-to-date encumbrances and commitments. The BBA represents the amount of the unspent budget that is not obligated or committed.
Last Updated: November 15, 2010 | Approved: Senior Associate Vice President for Business and Finance - November 2010