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EUS Operating Budget

876 bytes removed, 03:46, 16 September 2018
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A '''''budget''''' is a plan of expenditures and revenues for the year. It is not a request for [[funding]] – it is a forecast of where money is coming from and where it is leaving. A budget should be as accurate as possible, and should be binding (unless something unexpected comes up – in that case you must get the appropriate approvals to deviate from the budget). '''There should be some flexibility built into budgets to avoid overspending.''' Note the difference between a [[budget]], [[Internal record]]s, and the [[EUS record]]s. The '''''EUS Operating Budget''''' is the EUS' main [[budget]]. However, it does not includes the fees that are charged separately to students such as [[EUSF]], [[SSF]], [[DTF]] and the EWB Fee. The previous and current budgets can be accesses with the link below. <center><span style="font-size: 2.5em;">[http://budget.mcgilleus.ca EUS Budgets]</span></center>
==Creation and Approval==
The creation and approval of the operating budget takes place during the summer of each fiscal year. First, the different EUS Committees write their own budgets. Then, the [[VP Finance]] and the [[Finance Director]] collect the different budgets and produce an operating budget proposal. Finally, they present it to the [[Board of Governors]] who reviews it and can amend it and ultimately approves it to make it official. The board's budget review meeting is generally open to EUS general members.
 
==Pre-BoG Era==
Before the existence of the Board of Governors, the EUS operating budget was reviewed by a budget review committee and then presented to [[Council]].
[[Category:VP Finance Responsibilities]]
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