University Budget

The university’s fiscal year runs from July 1 to June 30 of the following year.

Each September the university submits an annual budget request to the legislature. When the legislature convenes in January, the Governor makes his/her budgetary recommendations for the fiscal year beginning in July. Throughout the spring, the legislature debates various plans and funding needs. The legislative portion is typically completed in May. Of key interest to the university are the amounts included in the appropriations bill for the University of Kansas and the Kansas Board of Regents.

During late spring the university prepares its recommended tuition rates for the upcoming academic year. These recommendations are taken to the Board of Regents for “first reading” in May and for final approval at the June board meeting.

With the expectation that tuition rates will be approved as proposed, the Budget Office works with the appropriate offices within the university community to create a budget for the upcoming year. Certain incremental pieces are associated with the tuition increases and the budget recommendations are collected in such a way that these components can be removed in the event the approved tuition rates differ from that which was proposed.

Information is taken from the budget file(s) and integrated into the Human Resources / Payroll system – the critical pieces of information are 1) funding distribution of payroll costs for positions and pools and 2) pay-rates for faculty, unclassified staff, university support staff.

Funding distribution is loaded into the payroll system mid-June. Information on pay rates is not loaded until the Board of Regents has approved the tuition increases and officially set the block-grant transfer.

The budget file is also the source of information for the opening budgets into the OAC Oracle Analytics Cloud financial dashboards – the information for initial expense allocations.  Revenue estimates are loaded into Financials (FITC) which are captured in the OAC reports as well.

Specific dates are not set in stone, however the budget cycle tends to be predictable.