1. Auxiliary Account Budgets
Auxiliary account budgets should be realistic and constructed so that the year-end operating margin is breakeven or positive. Exceptions to breakeven or positive operating margins are made for 66* accounts that must operate at a deficit to comply with internal rate setting requirements. Outside of this exception, budgeted income should be equal to or greater than budgeted expense and the budgeted expense should include depreciation. Any budgeted loss needs prior approval from the Office of Finance, Administration & Budget (FAB).
If you have any questions, please contact Auxiliary Business Services firstname.lastname@example.org.