Budget Office
KUMC Affiliates may access additional materials on the Budget Office Intranet (KUMC credentials required)
If you are affiliated with another institution and are interested in collaborating or learning more about our procedures, please contact Katie Lewis.
Operating Budget
The University of Kansas Medical Center’s (KUMC or the University) fiscal year runs from July 1 to June 30 of the following year.
The University’s largest available resources include research funding, endowment funding, state appropriations, tuition, and student fees.
- Research funding is generated from sponsored research and clinical trial programs. This funding supports actual research costs and reimbursement for facilities and administration.
- Endowment provides a fundraising function for the University by partnering with donors providing philanthropic support. Endowment funding will increase or decrease depending on the changes in initiatives and capital projects of the University.
- The State appropriation process begins each September when KUMC submits a revised current and one out year annual budget request to the Kansas State Legislature (the Legislature). When the Legislature convenes in January, the Governor makes his/her budgetary recommendations for the upcoming fiscal year beginning in July. Throughout the spring, the Legislature debates various plans and funding needs. This process is typically completed in May. Of key interest to the University are the amounts included in the appropriations bill for the University of Kansas Medical Center and the Kansas Board of Regents (Board of Regents or the Board).
- Tuition and fees are subject to approval by the Board of Regents. During late spring KUMC prepares its recommended tuition rates for the upcoming academic year. Increases require an in-depth internal review and approval process that includes student involvement and feedback. These recommendations are taken to the Board of Regents for “first reading” in May and for final approval at the June board meeting.
The Central Budget Office works with the appropriate offices within the university community to create a budget for the upcoming year. Certain incremental pieces are associated with the various funding increases and the budget recommendations are collected in such a way that these components can be removed in the event the funding levels differ from that which was proposed or expected.
Throughout the fiscal year, areas are responsible for monitoring expenditures against available resources and updating forecast expenditures. Funding needs requested outside of the normal budget process are evaluated by the Budget Director, Controller, and Chief Financial Officer based on other available funding and their alignment with the university’s mission and school priorities.
Specific dates are not set in stone; however, the budget cycle tends to be predictable.
The key events typically occur in the time frame shown below. The annual financial calendars are available at the links below and reflect key dates the institution focus’ on to stay on path with the annual budget and financial close process.
July
- Beginning of current Fiscal Year.
- Preparation of State Annual Budget Request begins for the upcoming year.
August
- The State’s system to collect information for the Annual Budget Request opens for data entry.
- Tuition revenues are updated based on actual collections in the preceding fiscal year, current fiscal year and upcoming fiscal year.
September
- Submission of the Annual Budget Request to the State Budget Office on September 15.
- The Board of Regents compiles a Unified State Appropriation Request for any new State appropriations for state universities. The Board holds a budget workshop annually to conduct an in-depth review of the appropriation requests from the universities.
November
- The State Budget Director’s Office recommendations are provided on November 10, or the closest workday to November 10.
- Areas within the University initiate internal strategic plan meetings for the upcoming fiscal year.
January
- The Legislature convenes.
- The Governor makes his/her state-of-the-state speech including budget recommendations for the upcoming fiscal year.
- The Central Budget Office monitors legislation pertinent to the KUMC appropriations bill throughout the legislative session.
February
- Requests for additional funding to support increased costs and new programs are due to the Central Budget Office. Requests are reviewed for accuracy and completeness.
- Through March the Budget Director, Controller, and Chief Financial Officer evaluate requests for funding based on other available funding and their alignment with mission and school priorities.
- Preliminary area tuition revenue allocations are calculated based on available revenues and student headcounts.
March
- Preliminary State Appropriation and Tuition allocations are distributed to areas.
April
- Annual budget software training is held for end users.
- Tuition and fee adjustment proposals are finalized for submission to the Kansas Board of Regents. Fee and tuition changes are discussed with the Tuition & Fees Advisory Committee prior to submission to the Kansas Board of Regents.
May
- Legislative session concludes.
- Budgeting tool is open for end-users to enter upcoming fiscal year budget.
June
- The Board of Regents takes final action on tuition rates for the upcoming academic year.
- The Central Budget Office works with the University Accounting and Reporting department to address cash flow management with the close of the fiscal year.
- Central Budget Office reviews final submitted budgets and balances revenues and expenditures.
- The compliance review for recharge service center rates is initiated by Accounting and Reporting to review rates charged for services provided by University cost centers and confirm compliance with State and Federal guidance.