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FAQ

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FAQ 2018-08-22T11:33:42+00:00

Frequently Asked Questions (FAQ)

Here is a list of frequently asked questions about the Office of Budgets and Grants.

How do I understand Budget and Grant terminology?

The Division of Institutional Advancement has a glossary with definitions of budget and grant terminology.

What is a budget transfer?

A budget transfer moves funds from one account to another and will affect the adjusted budget during that fiscal year.

What do I use a budget transfer form and when do I use an expenditure transfer form?

A budget transfer reallocates budget between organizations that share a common fund. Expenditure transfers are correcting entries and should not be used to resolve budget overdrafts. An expenditure transfer is used to move expense erroneously posted to a particular budget account into the correct budget account.

How do I check my available funds?

In order to purchase or pay for goods or services, funds must be available within the assigned account. Funds available can be checked or monitored by using the Online Budget tool.

Why is it important to reconcile my procurement card (P-Card) transactions in a timely manner?

According to the travel and purchasing card policies, those responsible for reconciling P-Card transactions must do so within five (5) working days of receiving the notification. By following this policy, it will allow all parties to view accurate funds available, which in turn will lead to fewer deficit funds.

How does Highline develop its budget every year?

Decisions about allocations are based on projected available funding for the following fiscal year. The process is very inclusive, with input sought from different campus constituencies through the Budget Advisory Committee. After decisions are made about allocations and the budget guidelines are adopted, each area begins work on completing its financial plans driven by strategic plans and initiatives. All budgets approved by the Board of Trustees and are implemented at the start of each fiscal year.

How can I request funding for my department?

Funding for each department is addressed by the division vice president’s office (VP Academic Affairs/Instruction, VP Student Services, VP Administrative Services, and VP Institutional Advancement.)

What is an indirect cost rate?

In general terms, an indirect cost rate is the percentage of an organization’s indirect costs to its direct costs and is a standardized method of charging individual programs for their share of indirect costs.

What are indirect costs?

Indirect costs are college-wide, general management costs. General management costs consist of administrative activities necessary for the general operation of the college, such as accounting, budgeting, payroll preparation, personnel services, purchasing and centralized data processing.

Why use an indirect costs rate? How does it benefit the college?

General management costs are necessary for any program to exist. For instance, all programs will use the business office at one time or another for services such as contracts, purchasing, payroll checks, and personnel management. Without the benefit of an indirect cost rate, there would be no standard way for each program to contribute its share of the general management costs without spending a lot of staff time having to account for each individual activity. Using an indirect cost rate is an efficient way to recover a share of general management costs from individual programs.

What do I need to provide to establish a new/revised budget for a grant or contract?

A signed copy of the grant or contract that shows the amount of the grant or contract. A copy of the proposal is not enough. Also, a signed copy of indirect overhead waiver if overhead is to be less than the institution requirement amount. Schedule an intake meeting, scheduled with the Office of Budget & Grants staff.

Where do I locate Highline College policies?

All of Highline College Policies are approved by the Board of Trustees.

Who do I contact about specific business office functions?

It is our goal to be able to answer questions you may ask. Our expertise is mostly related to budget matters, so we might not be able to fully answer your questions, but we will do everything we can to get you the right answer or point you in the right direction. For additional information, contact the staff from the following list.