Budget & Planning
Contact Us: firstname.lastname@example.org
To develop, assess, and manage the budgeting, monitoring, and forecasting processes in support of the mission and financial sustainability of Barnard College.
In Achieving Our Mission
We’ll strive for information about the budget process that is
Timely and transparent
Open and collaborative
We’ll regularly review and update
Policies and procedures
Our Current Action Plan
Evaluate, develop & implement budget systems
Streamline policies & procedures
Train & support campus community
Develop and monitor financial activities
Forecast and develop long-term plans
Communicate and report the College’s financial position on a regular basis to all stakeholders.
To facilitate the reallocation of budgeted funds from one object code to another after the original budget has been approved.
Policy & Procedures
Monitoring & Frequency
Department managers with budget oversight are able to view budgets in Web Advisor and should ensure that the budget is not exceeded for each budgeted object code. Budget balances are updated nightly in Web Advisor.
Budget changes must be requested prior to making a commitment that will result in overspending a line-item from a department’s budget. If funding is not available within the department guidance is available by contacting the Budget & Planning Office prior to submitting forms to Purchasing, Accounts Payable or Human Resources. Please allow sufficient time (2-3 business days) for budget change requests to be processed by the Budget Office prior to submitting corresponding forms.
Barnard College may hold employees personally responsible for inappropriate or unauthorized purchases.
Budget transfers from payroll object codes to non-payroll object codes can only be made in order to fund temporary employees or consultants filling vacated positions. Advance approval from the area Vice President, as well as from Human Resources, is necessary.
Example 1: Moving funds from Payroll to Non-Payroll
A temp or a consultant is needed to cover duties normally assigned to a position which is now vacant. There are no sufficient funds in the temp agency line or consultant line. A transfer is needed to fund monies from your payroll object code (for the vacant position) to the temp agency line or consultant line thereby covering the shift in cost.
Barnard Policies do not permit budget transfers from non-payroll object codes into payroll object codes.
Example 2: Moving funds from Non-Payroll to Payroll
The travel budget is under spent; this available balance cannot be transferred to hire a new position or to increase the number of hours an employee works.
Example 3: Moving funds from Payroll to Payroll – or- Non-Payroll to Non-Payroll
Transfers Within Payroll: There is an amount budgeted for BC student wages; however, during a critical period no students are available to complete specific tasks. A part-time administrative employee’s hours are increased temporarily to fill this void. A transfer is permitted moving funding from BC student wages to the administrative salary line.
Within Non-Payroll: There is a need to purchase office supplies but there are insufficient funds remaining in that object code to place the purchase. Travel expenses are under spent and there are no plans to use all of the remaining balance. A transfer is permitted funding the office supplies line with the appropriate amount from the travel budget.
- The Budget Transfer Request Form (Revised May 16, 2020) should be completed and emailed to email@example.com for processing prior to your expense being submitted.
- The Correction/Interdepartmental Transfer Request Form (single correction) or Correction/Interdepartmental Transfer Request Form (multiple corrections) should be completed and emailed to firstname.lastname@example.org for processing after the expense was/expenses were incurred.
Frequently Used Object Codes
|578110||Catering & Food Supplies|
|540204||Furniture & Equipment < $5,000|
|540202||Computers < $5,000|
|540102||Computers ≥ $5,000|
|540104||Furniture & Equipment ≥ $5,000|
|575104||Copy Services & Printing|