The fiscal year for the University runs from July 1 through June 30. All budgets are based upon these dates. Grants may have different start and end dates based upon the award and funding agency.

The Woodrow Wilson School supports a budgetary process whereby all centers, programs, and administrative units develop an annual budget in conjunction with senior administration. Yearly budgets are used as a means to control and track expenditures, and to develop long-range plans for the School as a whole.

The budgeting process for each fiscal year typically begins in January with preliminary budgets being prepared by the Manager of each respective area utilizing prior year expenditures. To assist these individuals, the Financial Management Office provides a budgetary worksheet itemized by account codes, which addresses questions related to each budgetary category. Amounts on the worksheet are brought forward to the budget spreadsheet and submitted to the Director of Finance and Budget (8-4834) for review and recommendations.

Once all budgets are received, they are combined into an overall School budget, incorporating faculty and staff salaries and benefits, student salaries and support, research contributions and capital expenditures. These budgets are then submitted to the Dean for review and recommendation. Should a budget require additional justification or clarification, the person responsible for that budget will be contacted. Once approved by the Dean, the School budget is submitted to the University administration.

After the first quarter of the new fiscal year each unit should review their budget.  Should additional funds be necessary, please provide the Director of Finance and Budget (8-4834) a revised budget and written justification for the change.

Budgets are reviewed for the following:

• Fiscal integrity
  • Is the budget reasonable?
  • Are logical amounts used in determining projected expenditures?
  • Are the figures used comparable to past expenditures?
  • Is there a significant change from the last budget?
  • Can increases be justified?
• Cost effectiveness
  • Have reasonable measures been taken to keep costs contained?
• Equipment needs (if appropriate)
• Staffing needs (if appropriate)
• Completeness
  • Have costs for new initiatives been included?
  • Are the totals accurate?

Please contact the Finance and Budget Director (8-4834) if you have any questions regarding the budgeting process.