Areas of Responsibility
The Office of Budget and Financial Planning:
- Coordinates preparation of the annual operating budget.
- Coordinates preparation of the annual budget needs survey request for submission to the Oklahoma State Regents for Higher Education.
- Administers the operating budget according to approved policies, including:
- Making available current budgetary status information to
department sponsors in coordination with Financial Support Svcs;
- Monitoring budgetary status of University departments,
- Monitoring budget and position changes for compliance with
policy, and advising administrators on budgetary status, as needed.
- Maintains position control reporting that provides current salary, wage, and expense variance data.
- Prepares budget reports, analyzing budget and related data, and prepares recommendations for administrative action.
- Prepares funding and expenditure scenarios to assist executive officers in determining subsequent-year budgets.
- Assists administrative offices in identifying program goals and objectives and in coordinating the objectives with budgetary decisions.
- Analyzes information from the office of the Oklahoma State Regents for Higher Education in order to determine proposed budget allocations and verify funding sources.
- Provides information to the Office of State Finance, Oklahoma State Regents for Higher Education, and other external and internal sources as needed.
Budget Process
The OU Health Campus budget process is a year-round effort that supports strategic planning and resource allocation.
Beginning in July, the Budget Office analyzes projected revenues, expenses, and funding needs for the upcoming fiscal year. In January, the OU Health Campus Budget Committee, with representatives from the Provost's Office, Accounting, Operations, and the Budget Office, begins meeting with colleges, research administration, and other campus units to review financial performance, enrollment trends, reserves, and budget requests.
Throughout the spring, departments develop budgets, reallocate funding as needed, and submit budget plans through Workday Adaptive Planning (Adaptive). The Budget Office uses state funding assumptions and institutional priorities to develop the recommended operating budget.
Following legislative approval of state appropriations in late May, the Budget Office finalizes the budget for review and approval by University leadership, the OU Board of Regents, and the Oklahoma State Regents for Higher Education.
Operating Budget Timeline
July - December
- Analyze projected revenues and expenses for the upcoming fiscal year.
- Identify institutional funding needs and priorities.
January - May
- Conduct budget meetings with colleges and administrative units.
- Develop budget allocations and departmental budgets in Adaptive.
Late May
- State appropriations are finalized by the Oklahoma Legislature.
Early to Mid-June
- Final budget recommendations are reviewed and prepared for regental consideration.
Late June
- Budget approved by the OU Board of Regents and the Oklahoma State Regents for Higher Education.
July 1
- New fiscal year budget becomes effective.