Topic: Budget Amendments
Reference or Contact: Chief Financial Officer/Budgets Coordinator
There are two distinct types of budget amendments:
- Amendments that move budgeted funds between accounts, but within the same function
- Amendments that move funds from one account to another and which also change function codes
The first does not require Board of Trustee approval and can be processed at any time during the year. However, the second must, by law, be presented to the Board of Trustees for approval. Budget amendments that require Trustee approval are presented to the Board periodically during the fiscal year, typically on an as needed basis.