The Budget Process - TRACS

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10/7/20141The 2014 TRACS Annual ConferenceOrlando, FloridaOctober 22, 2014Jan M. Haas, Sr. VP, Finance & AdministrationThe Budget ProcessDeveloping the Budget and gaining institutional Definition Relationship to strategic planning Types of budgets Process preparation Presentation MonitoringThe Budget ProcessDeveloping the Budget and gaining institutional 2Definitions Institutional budgeting is the Process whereby the plans of an institution are translated into an itemized, authorized, and systematic plan of operation, expressed in dollars for a given period. Budgets are the blueprints for the orderly execution of program plans; they serve as control mechanisms to match anticipated and actual revenues and Budget ProcessDeveloping the Budget and gaining institutional 3Source: National Association of College and Universities Business Officers, College and University Business Administration, 4thEdition, (continued) Budgeting is a management tool for both planning and control.

10/7/2014 1 The 2014 TRACS Annual Conference Orlando, Florida October 22, 2014 Jan M. Haas, Sr. VP, Finance & Administration The Budget Process Developing the budget and gaining institutional buy-in.

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