Office of Budget & Financial Planning
The Office of Budget and Financial Planning:
- Coordinates preparation of the annual operating budget.
- Distributes the annual operating and capital Budget Needs Survey each fall to the Norman campus.
- Coordinates preparation of the annual budget needs survey request for submission to the Oklahoma State Regents for Higher Education.
- Administers the operating budget according to approved policies, including:
- Making available current budgetary status information to
department sponsors in coordination with Financial Support Svcs;
- Monitoring budgetary status of University departments,
- Monitoring budget and position changes for compliance with
policy, and advising administrators on budgetary status, as needed.
- Maintains position control reporting that provides current salary, wage, and expense variance data.
- Prepares budget reports, analyzing budget and related data, and prepares recommendations for administrative action.
- Prepares funding and expenditure scenarios to assist executive officers in determining subsequent-year budgets.
- Assists administrative offices in identifying program goals and objectives and in coordinating the objectives with budgetary decisions.
- Analyzes information from the office of the Oklahoma State Regents for Higher Education in order to determine proposed budget allocations and verify funding sources.
- Provides information to the Office of State Finance, Oklahoma State Regents for Higher Education, and other external and internal sources as needed.
The University of Oklahoma utilizes Workday Adaptive Planning for its budgeting system. Mid-year budget revisions are made in PeopleSoft, with any transactional data loaded on a daily or monthly basis back into Adaptive. The coming year budget is built in Adaptive each spring during a window as determined by the Budget Office.
For more information on Adaptive, please view our Adaptive page here.
Deficits in University departments are not permitted. Departments should be reviewed monthly by sponsors, deans/directors, and vice presidents to ensure that deficits do not occur. If a deficit is projected or indicated, immediate action should be taken to prevent or correct the problem. In all cases, vice presidents are ultimately responsible for the financial management of departments within their area(s) of responsibility. Additional information is available with OU Administration and Finance.