Agenda Item No. IV. B. 1. a.

Washburn University Board of Regents





SUBJECT: Continuation of Fiscal Year 2003 Budget into Fiscal Year 2004



BACKGROUND:



Due to the uncertainty of revenue estimates for the State of Kansas, the legislature was delayed in approving funding levels for higher education. Consequently, the Board has not yet approved the budget guidelines to be used by the administration to develop the FY04 operating budget. The Board of Regents Budget and Finance Committee has been working with the administration in the development of preliminary estimates and assumptions for the FY04 budget.



In order to begin the new fiscal year and meet the requirements to file a public budget no later than August, the administration recommends the Board of Regents approve a continuation of the FY03 budget until such time as the FY04 budget is approved by the Board of Regents.





FINANCIAL IMPLICATIONS:



Continuation of general fund budget for all areas for FY04 at the FY03 level, with the exception of certain necessary salary adjustments which will be brought to the Board of Regents for approval, if appropriate.





RECOMMENDATION:



President Farley recommends the Board of Regents approve continuation of the FY03 operating budget until such time as the FY04 budget is approved by the Board.





_________________ ___________________________

Date Jerry B. Farley, President


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