____________________________________________________________________
FISCAL MANAGEMENT OPERATIONS GUIDE

Budget Policy

The University budget is the means by which the institutional mission is translated into specific programs and activities, for it is the funding of programs and activities that turns theory and intention into reality and action. The budget reflects the University's commitment to certain goals, even though the ultimate achievement of those goals may be beyond the period covered by the budget. The budgeting process, while actually allocating funds for the short-term period of only one year, should be based on the University's long-term priorities. Therefore, although the limitations of the biennial appropriations act make it impossible to commit state funds beyond a two-year period, it is the goal of the University to tie each year's operating budget into a long-range planning process.