The Office of Budget and Financial Planning (OBFP) is responsible for all aspects of the University’s external and internal budget processes. These two budget processes overlap. The goal of the external process is the acquisition of a state appropriation to support the next year’s operations. The final product of the internal budget process is detailed operating budgets for each department.
The OBFP prepares the Operating Budget submission to the Illinois Board of Higher Education (IBHE) according to the guidelines approved by the Board of Trustees (BOT). The OBFP routinely responds to information requests made by the IBHE, the Governor’s Office of Management and Budget (GOMB), and the House and Senate appropriation staffs. Historical reports are submitted to the IBHE annually.
The internal operating budget process involves planning, development, implementation, management and reporting. The internal budget is approved by the BOT. Throughout the year, the OBFP provides assistance to campus with regard to budget development, budget transfers, budget reviews and other budgetary needs.
NIU completes IBHE budget request documents
IBHE develops budget recommendations
NIU completes budget materials for for legislature
Governor announces budget recommendations
Appropriate hearings are held at Capitol
Budget bill is enacted
NIU creates budget documents for each cost center
Departments complete cost center budgets
Budgets go through the approval process
If required, appropriated budgets are adjusted
Budgets are compiled to ensure that guidelines have been followed
Internal budget is submitted to BOT for approval