27.1 Policy

The University’s budget planning process aims at allocating its resources and at maximizing their utilization to achieve the University’s strategic mission.

The goal of the budget execution monitoring is to provide accurate information to managers responsible for the use of the University’s funds and to assist them in the exercise of their responsibility.

These two functions, planning and monitoring, also provide the President and the Board of Governors (BOG) and the Board of Councilors (BOC) with an analytical tool enabling them to oversee the financial operations, status, and health of the University.

The University has a responsibility to submit an annual budget plan to the BOG each year.

This policy outlines the University’s annual budget process and describes the budget components and other related procedures integral to the process.

This policy applies to all University administrative divisions, research units and affiliated programs in their preparation and management of operating and capital budgets.