The Budget Management System enables colleges and universities to manage the annual budgeting and activity funding of the organizations on campus. The process managed by the module is summarized below:

• 1

  Each campus organization will request an annual (or semester) budget. The budget can be as simple as a lump sum amount or can enumerate specific planned events and activities with detailed descriptions and costing by line item. If required, the budgets can be allocated among multiple funding sources (e.g. undergraduate activity fee and graduate activity fee).

• 2

  Throughout the course of the year, organizations request approval to use the budget for specific events, activities, or other expenses. The organization will initiate a request describing the event and related costs. The administrator can approve, deny, or send back the request for modification, more information and resubmission.

• 3

  Expenses related to the event are submitted for approval and payment. Organizations can submit vendor invoices for payment, which can be accessed and processed by the business office once approvals are obtained.

Schools that prefer a “simplified” approach can opt for a “two-step” process by eliminating step #2 above, such that once the budget is approved, the organization is authorized to commit funds without further review and approval.

This online application is designed to be flexible with many user-based options. It will adapt to a variety of budgeting procedures and is powerful enough to replace traditional methods of manual record keeping.