7.01 Budget Overview

7.01 Budget Overview

Last Revised Date
Wednesday, October 4, 2017 - 11:33 am

Policy Information

Policy Number: 7.01 Effective Date: 7/20/2012
Responsible Unit: Budget Office Last Revised Date: 10/04/2017
Email: fin-mgmt@fso.arizona.edu Phone: 520.621.3220

Purpose and Summary

The University of Arizona is responsible for submitting an Annual Operating Budget for approval by the Arizona Board of Regents, the Governor, and Legislature.  

This document provides definitions of common budget terminology and reference to related information.


Arizona Board of Regents Policy, not limited to 3-401, 3-402, 3-403

Arizona Revised Statutes


This policy applies University-wide, including Main Campus, the Arizona Health Sciences Campus, the Phoenix Biomedical Campus, and University of Arizona – South. In addition, this policy applies to all extension off-site campus units, both domestic and international.  


  1. Budget: A plan of financial information which provides an estimate of proposed revenues or expenditures for a given period.
  2. Budget Transfer: A movement of budget authorization from one account/sub-account/object code/sub-object code combination to another.
  3. Budget Revision: An increase or decrease to the amount budgeted that does not affect another account.
  4. Original Budget: An amount initially budgeted to an account.
  5. Base Budget Change: A budget revision or transfer that adjusts the base budget for the next fiscal year. An example of a base budget change is the annualized transfer of funds to cover an increase to an employee's salary.
  6. Current Budget Change: A budget revision or transfer that affects only the budget for the current fiscal year. An example of a current budget change is the transfer of personal services funds to operations to hire a temporary employee from an outside service, such as Kelly Services, when a regular position is vacant.


  1. The University of Arizona will prepare an annual legislative budget request and a detailed state and local fund operating budget.
  2. Budgets for sponsored projects accounts must be developed and maintained in accordance with sponsor guidelines and the Office of Management and Budget (OMB) as outlined in the Sponsored Project Agreement, and are monitored by Sponsored Projects & Contracting Services (SPCS).


The Budget Office is responsible for establishing budget and approving budget changes for local and state accounts. For procedures and information related to the University budget process, see the University of Arizona Budget Office website.

For procedures and information related to preparing a budget on sponsored projects accounts, including information on allowable costs, see the SPCS Build a Budget webpage.

Related Information

Budget Office Forms and Resources
SPCS Build a Budget
Arizona Board of Regents Policy Manual