The Performance Credit Program is a mechanism to provide greater budgetary flexibility and discretion to the budget centers by allowing the carry-over of fiscal year-end balances within certain guidelines. If deemed appropriate by the Administrative Council of the University, performance credits will be allocated according to established procedural guidelines subsequent to the close of each fiscal year.
The Office of Budgets and Planning reconciles the E&G budget to the actual fund balance as posted to the general ledger at year end close in order to determine the budget to actual variance for each budget center, referred to as the Performance Credit. Performance credits are distributed as non-permanent budget allocations to the budget holding accounts of each budget center with notifications to budget center representatives. Budget center representatives are then responsible for distributing performance credits to organizations as appropriate according to budget center policy.
See Performance Credit Procedures for reconciliation details.