The Office of Planning and Budget prepares and submits the university’s proposed annual operating budget for the coming fiscal year, which runs July 1 through June 30, to the Arizona Board of Regents. OPB typically submits the budget to ABOR in May for consideration at its regular June meeting.
ABOR policy stipulates that the annual operating budget includes the following components:
- All general-purpose, designated and restricted fund budgets with projected revenues and expenses for the fiscal year.
- Overview of the university’s projected liquidity on June 30.
- Projected expenses by natural classification (e.g., salaries and wages, benefits, operating, scholarships and fellowships, depreciation and interest on indebtedness).
- Year-end adjusting entries required to comply with Governmental Accounting Standards Board principles of external reporting.
Here are the university’s annual operating budget submissions for the current and past years:
The university discloses annual comprehensive financial reports in compliance with Governmental Accounting Standards Board principles of external reporting.