During the early fall of the fiscal year preceding a budget year, preliminary budget requests are due to the state approximately eleven months prior to the beginning of the fiscal year. There are two preliminary budget requests submitted, an Educational and General (E&G) and a Public Service Activities (PSA).
The Educational and General budget request must be submitted to the Commission on Higher Education (CHE) which in turn submits a budget request to the State Budget and Control Board on behalf of all South Carolina higher education institutions.
A separate preliminary budget request for Clemson University Public Service Activities is submitted directly to the State Budget and Control Board. Generally, there are no limitations other than reasonableness on the increase that can be requested for the programs funded through Clemson University Public Service Activities.
The State Budget and Control Board holds budget hearings on the preliminary budget requests. After these budget hearings, a preliminary allocation of state funds for the coming fiscal year is given to each state agency and institution. The preliminary allocation of state funds is based on the Board of Economic Advisor's forecast of state revenues.
State agencies and institutions are required to submit detailed budget requests for the next fiscal year. These detailed budget requests are consolidated by the State Budget Division into a state budget recommendation submitted by the State Budget and Control Board to the State General Assembly.
Final permanent budget amendments/allocations should be recorded from central funds as well as between budget centers.
Finalize any budget center reorganizations requiring base budget adjustments.
A proposed Source and Application of Educational and General Funds report is drafted to begin discussions of priorities with the campus. The report usually presents two potential levels of funding from state appropriations, and where the increases in state appropriations, academic fees, and other sources of funds will be used for operations, after funding compensation items, if funded at those levels.
Meetings are held with budget centers to discuss budget allocations.
Budget Centers are presented with E&G base and target budget figures for planning considerations. The centers then complete budget worksheets and submit preliminary detail budgets to the Office of Budgets and Financial Planning. These worksheet data are compiled and systematically loaded into CUBS to establish spending authorities against the General Ledger for expenses and establish revenue estimate budgets to maintain a proper balance within each fund.
State Senate Finance Committee holds hearings on higher education.
Preliminary budget is presented to Budget and Finance Committee of the Clemson University Board of Trustees.
The General Assembly may act upon the budget recommended by the Budget and Control Board, modify it, or develop its own, based on updated revenue forecasts and other considerations. Generally, the appropriations bill is approved by the state prior to beginning the new fiscal year.
The preliminary budget is presented to the Budget and Finance Committee of the Clemson University Board of Trustees through the use of the Office of Budgets and Financial Planning’s Budget Document, a formally printed publication outlining various budgetary sources and uses of funds for the last and upcoming fiscal years.
The final budget is presented to the Board of Trustees for approval.
The prior budget year is closed.
Budgets loaded into CUBS for the new fiscal year are reconciled to analysis sheets.
E&G funds performance credits are tabulated and awarded to budget centers. Fund balances are also reconciled from the prior fiscal year and reported after audit adjustments are performed by Accounting Services.
Meet with budget center representatives to begin budget-planning process for the upcoming year and to resolve outstanding current year budget issues.