Mission

To identify Eastern Kentucky's University financial resources, and to direct those resources to their most beneficial use.

Objectives

• Establish budget planning parameters and administer the allocated cost algorithms.

• Coordinate and compile the University's annual operating budget in accordance with established guidelines set forth by the Budget Advisory Council and Board of Regents.

• Review Department, Area and Unit budget submissions by analyzing financial reports and comparing actual operating results to the projected budget for revenues and expenditures.

• Advise University leadership on central resource allocation issues, and compile and maintain data and reports required by administrators, officers, the Board of Regents, and external agencies.

Services and Functions

Structuring and Evaluating Budgets

Budget Office analysts evaluate the budgets of divisions, college, or departments and provide recommendation that will promote cost control and fiscal reasonability. The goal is to help departments better control and monitor expenditures through detailed cost analysis.

Establishing New Budget Units and Accounts

The Budget Office works with departments to develop budgets or accounts for new business units.

Year-to-Date Analysis

Through the use of reporting and analysis, the Budget Office evaluates the budgeted versus actual performance for each budget unit throughout the fiscal year. Budget analysts will identify trends and exceptions and make recommendations to improve budget accuracy and planning.

Budget Preparation Assistance and Consulting

Each year the Budget Office provides assistance and expertise during the preparation of pooled budgets. The Budget Office staff helps departments prepare budgets for salary, benefits and operating items. Budget analysts answer questions and provide guidance regarding the use of spreadsheets and other tools during the budget preparation process.