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Budgeting Policy
Name of Policy
Budgeting Policy
Policy Number
IV.A-6
Owners
Financial Affairs
Original Policy Date
28/11/2013
Cosigners
_______________________
Last Revised Date
_______________________
Other Related Regulatory Rules Laws & Policies Next Scheduled review Date
_______________________
Associated Procedures & Forms (Attachments)
_______________________
Versioning
_______________________
Cycle of Reviews
_______________________

Purpose

This policy sets out the budget policy and how resources are to be allocated to each department.


Statement

Procedure
Procedure :

Budget Preparation

  • Questionnaire should be prepared by the Director of Financial Affairs to be circulated to all PMU Higher Management (Rector, Vice Rector’s, Deans and Directors).
  • Questionnaire includes the department recruitment and payroll requirements, asset requirements, research and development project, consumable materials and other expenses.
  • Budget should be prepared based on the requirements submitted by each department.
  • Initial Budget being prepared should be sent to PMU Board of Trustees for approval.
  • Approved budget should be entered by Budget and Accounting to the Banner System.
  • Any adjustment on the approved budget should require approval from the PMU Rector.