Budget Cycles and Forms
The University of Tennessee receives funding, known as state appropriations, from the State of Tennessee. The Health Science Center funding is allotted in three sources –College of Medicine Units, Memphis Other Specialized Units, and Family Medicine Units. The budget each year is prepared and reported as defined by those appropriation funding units.
There are six major budget cycles involved throughout the fiscal year. Those budget periods are:
- Proposed Budget – The proposal of anticipated budget for the upcoming fiscal year
- Original Budget – The budget approved by the Board of Trustees
- State Appropriations Request – The request to the State of Tennessee through the Tennessee Higher Education Commission (THEC) for funding of the next fiscal year
- Revised Budget – The reflection of budget changes since the Original Budget was approved
- Mid-Year Projections – The review of budget performance midway the fiscal year
- Probable Budget – The adjustment of the budget to the anticipated or likely activity of the fiscal year
In navigating the budget cycles, there are several forms used to establish or revise unrestricted budgets for the Health Science Center. All unrestricted cost center budgets have a fund name, fund number, commitment item, and amount. The fund name and number represent operations in a division or department. Commitment items are subdivisions of income or expenses base on the category or type of activity.
The Schedule 3 and Income Worksheet is used during the Proposed Budget to establish the cost center budgets by commitment item. Departments use these forms to outline the base budget allocation.
The Request for Budget Revision is used to make changes to budget throughout the year. The form can be used to change commitment item allocations within the same cost center or to change funding between cost centers and commitment items.
The Schedule 3 and Income Worksheet – Probable Budget modifies the existing budgets to the anticipated budget for the fiscal year during the Probable Budget process.
On occasion, extraordinary circumstances or time-sensitive issues occur which may necessitate a request for additional funding external to the Proposed Budget request opportunity.The Request for Additional Funds guidelines should be used for those instances.
Accounting & Budget
62 South Dunlap
Memphis, TN 38163