Budget Management System
The Budget Management System enables colleges and universities to manage the annual budgeting and activity funding of the organizations on campus. 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.
A Customizable Process
There are three ways your campus can utilize the Budget Management System; a simple one-step withdrawal process; a two-step process with budget and payment requests; or a three-step process with approval required for budget, spending, and payment requests. Revenue Funds can be used independently or alongside the budget process.
The three-step process is ideal for campuses that require approvals for budget requests, spending requests, and payment requests. Students can both request funds from umbrella administrators as well as allocate money from their organization’s Revenue Fund.
Schools that prefer a “simplified” approach can opt for a two-step process by eliminating approvals for spending requests; once the budget is approved, the organization is authorized to commit funds without further review and approval.
Disable the budget process but "Enable Organization Revenue Funds." This works well for institutions wanting to give a lump sum of money to their organizations to spend throughout the semester/year. Organizations would then be able to submit Withdrawal Requests to spend this money.
The Revenue Fund is a rolling balance of funds attached to a particular organization. Revenue Funds carry a running balance and are not constrained to budget periods.
Umbrella administrators can manually add and remove money from Revenue Funds in organizations. Funds can also be programmatically managed through the OrgSync checkbooks API.
Organization members can request to add and remove money via Deposit and Withdrawal Requests. These requests are approved and denied by Umbrella administrators like other Budget Management System requests.
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