Budget Oversight, Policies and Governance
The Office of Budget and Financial Management steers SJSU actions to meet goals that are in compliance with various policies. CSU policies are codified in the Integrated California State University Administrative Manual (ICSUAM). In recent years, a system-wide Budget Oversight Policy was established, which affects budget reporting procedures as noted below.
Campus Budget Oversight Policy
Divisions are required to submit budget variance reports documenting the variances between budgeted and actual financial activity. CSU operating fund 70000 will be reviewed under the budget oversight policy shared with division resource managers at least twice per fiscal year; the anticipated frequency and scope of funds of other funds will depend on the nature of the business activity and fiscal health of the operating unit.
To ensure compliance with ICSUAM Policy 2002.00, “Budget Oversight”, the Chief Financial Officer (“CFO”) delegates to Finance (“Finance”) and the Office of Budget Planning & Financial Management (“Budget”) the management of budget variance reporting. The budget variance reporting process and procedures will be maintained by Budget and shared with divisions via the designated division budget officers.
Campus Reserve Policy
The Campus reserve policy ensures that the university and its auxiliaries maintain adequate reserves to ensure responsible fiscal management, advance priorities, and mitigate risks. Finance oversees the designation of reserves at year-end. This activity relies upon division feedback given in the last budget variance report of the year. For more information about the different types of reserves and what they’re used for, please review the Campus Reserve Policy [pdf].