THE UNIVERSITY OF MEMPHIS POLICY MANUAL


SUBJECT:  Budgetary Allocations and Controls

POLICY NO.:  1:2D:01:02                    DATE:   December 1, 1988
          
SUPERSEDES POLICY NO.:  1:2D:01:02         DATED:  October 1, 1975


A financial budget will be developed annually for the regular operation of 
the University.  Additionally, a budget will be developed for each special 
project on a project-by-project basis.  The primary responsibility for the 
administration of and adherence to budget limitations is assigned to the 
designated department chairman, activity director, or other administrative 
official.  Funds will be obligated only if a sufficient amount has been 
budgeted to provide for the obligation.

The allocation of funds and the final approval of all budgets is the 
responsibility of the President.  The Vice President for Business and 
Finance is responsible for maintenance of records and controls to insure 
adherence to the approved budget.

Official printed budget documents will be available for review by interested 
persons in accordance with guidelines issued by the Tennessee Board of 
Regents.  The Vice President for Business and Finance shall establish 
procedures by which budget documents will be available for review.