Budget and Accounts
The College of Pharmacy’s budget development process for the next fiscal year begins with the start of the calendar year. Detailed information relating to budget development, implementation and control for state and income accounts along with the UGA Budget Development schedule are found on the Budget Division website. The total budget allocation for the College of Pharmacy for FY 2008-09 is about $30.0 million. This includes state, income, grant and foundation accounts.
The Business Office deals with four types of University accounts--state, income, sponsored and foundation. Each type of account has guidelines for allowable expenditures. Please contact the Business Office for more guidelines. Transfer of funds between the same type of accounts is generally possible while transfers from one type of account to another is usually not possible: for example, it is not possible to transfer state funds to a income or grant account.
Fiscal year 2008-09 budgets have been allocated to various departments within the College of Pharmacy at the beginning of the year. Toward the end of each fiscal year and based on availability of funds, these will be allocated to departments to be spent before the end of the fiscal year.
All expenditure and income transactions relating to departments within the College of Pharmacy must be processed through the Business Office. The Business Office staff will make sure that UGA policies and procedures are being followed and that accounts being updated have sufficient balances. The Business Office maintains a separate set of books of accounts for the College. This allows us to account for commitments and expenditures not yet processed by UGA and provide more updated balances. At the end of each month these accounts are reconciled to the UGA system. Regular monthly status reports of budgets vs. actual and unspent balances are provided to the College. Departments and faculty must bring to the attention of the Business Office any discrepancies within 60 days of a mis-posting or error. This will allow the Business Office to make sure necessary adjustments are made in a timely manner.