Print/Copy Mail Services Vice President FAAt the September 9 & 10 Board Meeting the State Board of Higher Education approved the Fund Balance Policy. It is as follows.
OUS institutions shall develop budgets that target an ending biennial budgetedoperations fund balance of approximately 10 percent of annual budgeted operationsrevenues.
For purposes of this policy, budgeted operations funds are defined as allfunds included in Fund Type 11 (Education and General) in the Oregon UniversitySystem accounting records.
Budget operations fund balances will be monitored as partof the quarterly projections included in the Managerial Reports provided to the Board;and institution presidents shall advise the Board in the event projected or actual endingbalances for the biennium either fall below 5 percent or rise above 15 percent ofrevenues.
Included in the information provided by the presidents will be an explanationfor the variance and a plan to rebalance the budgeted operations fund balances overtime to approximately 10 percent of annual budgeted operations revenues.
See the link below for the full docket, pages 21-24.
http://www.ous.edu/board/dockets/ddoc040910.pdf
This is important for us as we help prepare the Managerial Reports that are presented to the Board 3 times a year. See the same link above, pages 9-20, for the year-ended 6-30-04. So if you see Brett, Heidi, or myself scrambling around next July, it's probably trying to explain why we have to large of a fund balance at the end in Fund Type 11.