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Budget & Management Reporting


The University Budget Office is responsible for developing the annual budget for the University with the goal of balancing revenues and expenditures. The department also develops and distributes monthly reports for use by the divisions for planning purposes and reports quarterly on the state of the University's finances to the Finance Committee of the Board of Trustees. Each division of the University has a financial administrator responsible for managing the budget of the division. The financial administrator should be contacted when there are budget questions, purchase requests and personnel transactions. Each division also has a budget analyst in the office of Budget and Management reporting to assist them in developing their budgets and in ensuring that they are following correct procedures in committing their divisional funds.

Frequently Asked Questions

How do I know what my budget is?
If you have questions about your budget, you should contact the financial administrator for your area. If you have questions that your financial administrator cannot answer, you can always get in touch with the University Budget and Management Reporting Office.

How do I know if a particular expense is covered by my budget?
To find out whether a particular expense is covered by your budget, contact the financial administrator for your area. If you still have questions, please contact the University Budget and Management Reporting Office.

I'm having trouble reading my financial reports. How do I get help?
If you have questions about how to read your financial reports, please contact either your financial administrator or Budget and Management Reporting. There is a wide variety of reports that can be provided for you, so if the report you are currently receiving does not meet your needs, let us know.

What is Yeshiva University's fiscal year?
The University's fiscal year runs from July 1 to June 30.

When is the fiscal year budget approved?
The fiscal year budget is developed in the spring and approved at the June meeting of the Board of Trustees.

Are there any preparations I need to make for the end of the fiscal year?
As the end of the fiscal year approaches, you can help the University Finance departments prepare by paying careful attention to your expenditures. If you have committed to any expenses that you think made be paid after June 30, you should alert your financial administrator as well as Budget and Management Reporting.

Who has the authority to approve expenses for my department or area?
Expenses that are being paid out of government grants and contract funds must be approved by the Grants Officer. For non-government funded expenses under $100,000, the financial administrator for your division is the authorized signatory.For expenses between $100,000 and $250,000, the director of budgeting and management reporting must approve. Expenses greater than $250,000 are approved by the executive director of financial services. Expenses greater than $1,000,000 require Board of Trustees approval.

How can I add or modify people who have authority to approve expenses?
You should ask your departmental finance administrator to contact the Budget Office.

My department is starting a new project or initiative and we need some help developing a budget. Who can help me?
Budget and Management Reporting would be happy to help you develop a budget for any need, whether it is a new grant, project, initiative or just particular expenses or income you would like to track separately.

There is a charge on my financial report that I do not think belongs to my area. How can I get this charge reversed?
Contact your financial administrator or Budget and Management Reporting.

There is a charge on my financial report that belongs to me but is charged incorrectly. How can I have it transferred?
Contact your financial administrator or Budget and Management Reporting.

I anticipate having expenses that will put me over my budget. What should I do?
We all share the responsibility to be careful stewards of our budgets and to manage all expenses conscientiously. However, in situations where it is necessary to expend funds which may exceed your budget, you should immediately alert your financial administrator. In some cases, you may be required to document and justify the necessity of the expense, and you may be asked to identify a funding source or an account from which funds may be transferred to cover the expense.

When will I be able to find out the current status of my financial situation?
The University's current financial system is only able to produce financial reports on a monthly basis. You can usually expect reports from the University's system 2-3 weeks after the end of the month. We are working very hard to introduce new systems that will allow more frequent and more rapid reporting. You can also contact Budget and Management Reporting if you would like help keeping track of your expenses independently.

What is a general ledger number?
A general ledger number, general ledger account number, or GL number, is the 11-digit code that is used to identify every financial transaction. The first digit identifies the fund type. The first 8 digits of the number identify your account. The final three numbers are called the object code.

0-High Schools
2-Manhattan Campus
9-Einstein Campus
Digits 2-4 identify the division, or for restricted accounts the type of restriction (scholarship, chair, program, endowment, capital, etc)
Digits 5-8 identify the department or the restricted program account
Digits 9-11 identify the natural account (function)

What is an object code?
Object codes are three digit number sequences that identify the nature of financial transactions. Object codes can define expenses, income or other kinds of transactions.

Where can I find a list of object codes?
Contact your financial administrator or the Budget and Management Reporting office.

What are interchanges?
Some University departments provide services to others, such as printing, housekeeping, repairs and maintenance, or graphic design. These departments may bill for their time though the use of intercharges, which appear on your financial reports as expenses.

I need to supply financial information about the University to an external source. How do I do that?
Please do not provide University financial information to any external parties yourself. Instead, contact Susan Maier, director of budget and management reporting, or Leighton O'Sullivan, director of accounting services. They will handle the request for you.

I've just hired a new employee. What do I need to do now?
Prior to hiring a new employee, you must complete a PRF (personnel requisition form) and have budget approval for the position whether it is new or a replacement. The Budget Office must approve all position requests, regardless of budgetary impact prior to the position being posted. When an approved position is filled, the PSF (Personnel Status Form) must be completed and forwarded to the Budget Office for final approval.