Budget Process Timeline
Frostburg State University follows the process below to create and get approval for every annual budget. FSU is a public university and part of the University System of Maryland hence needing budget approval from the State of Maryland Departments such as the Department of Budget Management and Department of Legislative Services as well as the University System of Maryland.
July |
University System of Maryland negotiates state appropriation amounts and mandatory cost increases with the Department of Budget Management University System of Maryland forwards results to campuses FSU begins to build the budget request process |
September |
FSU submits the budget request (3-month process) University System of Maryland staff reviews budget requests and forwards them to the Department of Budget Management for their review and approval |
October |
Campuses submit proposed tuition & fees increases to the University System of Maryland |
December |
Campuses make adjustments to budget requests as required by the Department of Budget Management – adjustment process is typically completed around the 26th of December |
January |
Revised budgets, now known as the “The Department of Budget Management Governor’s Budget”, are submitted to the legislature for the Department of Legislative Services review |
January/February/March |
The Department of Legislative Services reviews Governor’s Budget and makes recommendations to the legislature for them to accept or reduce; each campus defends this budget before sub-committees from both the House and Senate |
April |
The legislative session ends Based on the legislative session, campuses begin internal distribution of budget now referred to as the “Working Budget” Board of Regents approves room & board rates |
May |
BOR approves tuition & fee schedule Campuses continue to prepare and submit the Working Budget after the University Divisional Vice President's input and approval |
June |
Governor signs budget bill University budget finalized and loaded into the Workday Financial system |
July |
Working Budget is submitted to the Department of Budget Management The new fiscal year begins |