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Fiscal Year 2022 - 2024

Aug-Sept Timeline

August

• USM provides Bowie with specific budget instructions and information for submission of next year’s budget request (General Funds, Tuition Rate, Institutional Mandatories, etc.)
• Budget Office obtains preliminary enrollment numbers and credit hour mix from Institutional Research for development of the University’s budget request

September                      

• A preliminary upcoming fiscal year budget request is prepared in accordance with USM instructions, preliminary enrollment numbers, preliminary initiatives, and the current year base budget
• The preliminary upcoming fiscal year budget request is prepared for the State and entered into the Budget Application System (BAS)

Nov-Feb Timeline

November         

• Draft Tuition, Mandatory Fees, Room and Board Rates are reviewed through shared governance process (SGA, GSA, & University Council)

December         

• If applicable, adjustments are made to the preliminary upcoming fiscal year budget request based on information from USM

January

• Governor approves upcoming fiscal year budget request and forward to Department of Legislative Services (DLS)
• Receive several fiscal impact statements from USM regarding pending legislation that may have impact on higher education institutions in the State
• DLS prepares an assessment of BSU and submits questions/areas of concerns
• Conduct Mid-Year Expenditure Review with VPs and/or President - Re-allocation of one-time funds recommended, if appropriate, to align with strategic priorities

February           

• If applicable, Budget Hearings with the Department of Budget and Management (DBM) are held. Testimony is prepared for President to defend upciming fiscal year budget proposal
• If applicable, President testifies before the House/Senate subcommittees
• Tuition, Mandatory Fees, Room and Board rates are submitted to Board of Regents (BOR) for approval
• VPAF provides written mid-year budget update to the campus community

March

• President and Cabinet members establish University priorities for Outlying FY (24)
• Cabinet finalizes enrollment numbers for development of University's upcoming fiscal year working budget
• Budget Office prepares projected Working Revenue Budget based on headcount/credit hours and Governor's allowance
• Departments begin developing initiatives for review based on instructions from their division/department heads (VP) for Outlying FY (24)

Apr-Jul Timeline

April

• All departmental initiatives are due to their respective division/department heads (VP) for review by April 30^th for Outlying FY (24)
• All proposed initiatives are due to the Budget Office from division/department heads (VP) for Outlying FY (24)
• Cabinet reviews submissions to ensure initiatives are aligned with BSU’s Strategic Plan for Outlying FY (24)
• USM notifies the institutions if the proposed Tuition, Fees, Room and Board Rates are approved by BOR

May    

• President and VPAF host a campus wide budget update open forum

June     

• Budget Office begins the process of preparing the working budget for use in the PeopleSoft system

July       

• Budget Office re-allocates one-time reserve funds to divisions
• Budget Office informs the campus community that budgets are available in PeopleSoft system
• The Budget Office submits Bowie’s working budget information to USM

Revised: January 21, 2022