Section 3359-3-04 - Budget deficit(A) It is the responsibility of each vice president, dean, director or department chair to ensure, for all accounts for which they are responsible, that expenditures remain in line with authorized budgets during the fiscal year. In addition, the carry-forward of a deficit budget balance in any general fund, auxiliary enterprise, grant, contract, or other restricted account, from one fiscal year to the next is prohibited.(B) It is the responsibility of the vice president for finance and administration and chief financial officer to develop and publish procedures to ensure adherence to these policies. An exception to the deficit policy, when justified, may be granted by the vice president for finance and administration and chief financial officer. Replaces: 3359-3-04
Ohio Admin. Code 3359-3-04
Effective: 1/31/2015
Promulgated Under: 111.15
Statutory Authority: 3359
Rule Amplifies: 3359
Prior Effective Dates: 07/31/92, 11/12/95, 11/24/01, 06/25/07