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Budget Revision Policy
This policy provides guidelines and establishes procedures for processing budget revisions to correct overdrawn positions or expense pools. Budget revisions move funding from accounts or positions with available funding to accounts or positions with deficits or increase budgeted expenditures of an account. Budget revisions are initiated at the department level by completing the Budget Revision Form.
Justification is required to decrease a full-time position. Acceptable justification includes:
- Pay for needed personnel coverage in the absence of a full-time person in the position. For example, to pay for a SLU-temp when the administrative assistant position is vacant.
- New hire is being paid less than budget. The difference between the new hires salary and the budget may be moved if it has not lapsed.
- Any other decrease in a full-time position must have detailed justification sent to the Office of Financial Planning & Budget.
An increase in full-time salaries is always considered to be a permanent increase.
Any budget revision entry that involves a personnel account code must also have the corresponding fringe entry.
An increase in part-time, supplemental pay, overtime or general expense would be permanent if it represents an ongoing need; otherwise, it should be marked temporary.
Dollars are not permitted to move between general expense and personnel. Special exceptions will be made to pay for coverage in the absence of a full-time employee or other special circumstances. Prior approval from Financial Planning & Budget must be obtained.
Dollars are not permitted to move from or to "Tuition & Fees" without prior approval from Financial Planning & Budget.
Please contact the Office of Financial Planning and Budget if you have any questions or need further information regarding this budget revision policy.