Excerpt from Budgets and Financial Management in Higher Education by Margaret J. Barr and George S. McClellan
- - Is it accurate or overestimated?
- - What assumptions underlie the revenue figures?
- - Has the assumption been made that the good times will continue?
- - Does the submitted budget address long-term and chronic issues?
- - Have you established reserve funds for equipment, repair and renovation, or contingencies?
- - Is there another office or agency that can help you address a chronic problem?
Beyond the Fiscal Year
- - Is there a time-limited grant or contract, and if so what plans are in place for the end of the contract?
- - What are the multiyear consequences of the budget decisions made by the unit? Are they defensible?
- - What are the hidden costs for each program or project, and are they accounted for in the budget plan?
Beyond the Unit
- - What are the implications of the budget decisions beyond the unit budget?
- - Have you consulted with those affected?
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