D-280 Budget Management and Transfers

The District Board annually adopts a college budget, a controlled spending plan that governs expenditures and purchases for each organizational unit.

The budget shall be managed in accordance with Wis. Stats. 65.90(5), 38.12(5m), and Wis. Administrative Code TCS 7.05. Budget revisions shall be made only under these policies and as the law provides.

The College’s unrestricted general reserves shall be maintained under Policy D-630 – Fund Balance of General and Special Revenue Funds.

Revenues accrued to the College more than the amounts budgeted shall be added to the College’s reserve. They are available for appropriation only upon a District Board resolution that sets forth the need for major budget classifications, as required by applicable law.

Budget Managers shall control and limit spending on the approved budgeted amounts for their organizational unit(s). The approved budget classification amount shall be considered the maximum spending level for that category, and expenditures should not exceed that amount. Budget Managers are expected to routinely review the budget status of each unit under their supervision and control spending to ensure that expenditure does not exceed the approved budget amount.

However, occasionally actual costs may exceed budgeted costs, or new priorities will necessitate costs not included in the original budget. It shall be the policy of the District Board that appropriate amounts may be transferred from another budget category to cover these expenditures. Budget transfers shall only be authorized for compelling and essential reasons.

The District Board has sole authority for transfers between Funds or Functions, and for transfers to and from fund balances. The District Board shall review all requests for the transfers. The District Board authorizes the President/District Director or designee to approve budget transfers within any fund or function.

Budget transfers for externally funded grants will not be approved until it is determined that the transfer complies with the funding agency's guidelines and does not alter the project's intent. In certain situations, written approval from the funding agency will be obtained, and a copy should be attached to the transfer request. The District Board authorizes the President/District Director or designee to accept new or increased external grant funding that supports college-related activities, with the District Board acceptance of the external funding in the next budget modification.