Policies & Procedures

Statement of the Policy

The Finance and Facilities Committee of the SUNY Broome Board of Trustees shall approve cumulative budget transfers in Capital Repairs, Renovations and Equipment, and Contractual Expense that are greater than 5% of College appropriations and total at least $50,000.

Upon recommendation of the Finance and Facilities Committee, the Board of Trustees shall approve cumulative budget transfers of Personnel and Fringe Benefits that are greater than 5% of College appropriations.

The President shall establish procedures necessary to affect transfers below these levels.

Definitions

Budget Transfer: A reallocation of appropriations between characters of expense (Personnel, Fringe Benefits, Contractual Expenses, and Capital Repairs, Renovations and Equipment). This definition reflects the budget detail adopted by the Broome County Legislature and the SUNY Broome Board of Trustees.

Budget Reallocation: Reallocation of appropriations within a character is not a Budget Transfer. The President shall establish procedures necessary to ensure adequate internal control over these reallocations.

Action