Each fiscal year, each Florida College System Institution
shall prepare a budget in such form as prescribed by the State Board of
Education for the Current Unrestricted Fund. A copy of the budget approved by
the board of trustees shall be submitted to the Chancellor, as designee of the
Commissioner of Education, by June 30 or on a later date established by the
Chancellor. The original or facsimile signature of the president shall certify
board approval.
(1) The Chancellor, as
designee of the Commissioner of Education, shall review the operating budget
for each Florida College System Institution after an examination for
completeness, correctness, conformity with law and State Board of Education
rules, and preparation according to accepted accounting standards. Anticipated
budgeted revenues shall be reasonable and transfers from general current funds
shall not handicap current operations. A contingency reserve is authorized in
the general current fund.
(2) Until
a budget is approved, ordinary expenses may be paid at the same monthly rate as
budgeted for the preceding year.
(3) Boards of trustees are authorized to
amend budgets. Amended budgets are required to be in compliance with laws,
rules and accepted educational accounting standards. Boards of trustees may, by
rule, delegate authority for approval of budget amendments except as provided
in subparagraphs (3)(b)1. and 2. of this rule.
(a) Budget amendments approved pursuant to
the authority granted in this subsection may reallocate funds between
organizational units of a fund and between general ledger object and class
codes.
(b) The following budget
amendments require review by the Chancellor:
1. Transfer of funds from the Current
Unrestricted Fund.
2. Amendments
which cause the unencumbered fund balance to be inconsistent with the statutory
guidelines specified in Section
1011.84(3)(e),
F.S.
(c) Overdrafts shall
not be created in any fund or depository account.
(d) Salary deductions shall be made as
required by law or as authorized by the board of trustees and approved in
writing by the employee, and shall be remitted promptly.
(4) Each fiscal year, as a part of the
official budget, each Florida College System Institution board of trustees
shall adopt a capital outlay budget for the capital outlay needs of the college
for the entire fiscal year. This budget shall designate the proposed capital
outlay expenditures by project for the year from all fund sources. Separate
project accounts shall be kept in the Unexpended Plant Fund for all capital
outlay projects.
Notes
Fla. Admin.
Code Ann. R. 6A-14.0716
Rulemaking Authority
1001.02(1),
1010.01,
1010.02,
1011.01,
1011.30 FS. Law Implemented
1010.01,
1010.02,
1011.01,
1011.30,
1011.84,
1013.61
FS.
New 9-30-96, Amended
7-20-04, 6-20-07, Amended by
Florida
Register Volume 42, Number 110, June 7, 2016 effective
6/23/2016.
New 9-30-96, Amended 7-20-04, 6-20-07,
6-23-16.
