NON-E&G BUDGET ENTITIES
BOG and Legislative Budget Policies
Beginning in 2002-03, the operating budgets for these units are approved by the FAMU Board of Trustees (BOT). Universities establish budget authority as needed provided they have sufficient revenue to cover projected expenditures. These budgets are not appropriated.
This budget entity includes the Auxiliary Trust Fund, Parking and Housing Trust Funds, and the Debt Service Trust Funds. Revenues in this budget entity are generated primarily from sales to students, faculty and staff, university departments, and others.
There is an overhead assessment charged to each auxiliary unit for University indirect cost. The assessment represents the costs borne by central administrative units,( such as Human Resources, Purchasing, or Controller Office) in support of the auxiliary activities. This assessment is currently 6% of each entities actual expenditures.
Contracts and Grants
Revenues in this budget entity are generated from Federal, State, and Local government contracts and grants. The budget submitted to the BOG is for the budget entity as a whole and does not provide details by department. The Developmental Research School (DRS) is also classified within this budget entity.
This budget entity’s primary revenue source is Student Government funds collected via the Activity and Service Fee portion of the per-credit-hour fee. Also included in this budget entity are self-generated revenues earned by areas such as:
Revenues are generated primarily from ticket sales, MEAC revenue sharing, game guarantees, and advertising. Most of the revenue is related to football. The students’ per-credit-hour athletic fee also goes into this budget entity.
The revenue for this budget entity comes from contract commissions from vendors who provide vending machines on campus (primarily Coca-Cola). Expenditures are primarily for items related entertainment and programs in furtherance of university business.
This budget includes the Scholarship funds and grants.
Per BOG Standard Practice, budget in these entities is requested for current year cash basis activity plus the previous year’s ending encumbrances; therefore budgets may include more than one year’s activity: last year’s encumbrances paid in the current year plus current year cash expenditures.