Policies & Procedures Manual - Elizabeth City State University

400.4.8Adopted: 06/14/05ELIZABETH CITY STATE UNIVERSITYReceipts1. ECSU is required to include the receipts collected and spent in its budgets.2. The total expenditure budget includes all funds received from ECSU’s receipts and from Stateappropriations.3. Elizabeth City State University’s budgets are set up as follows:a. Total requirements- which is the total of all expenditures provided from ECSU’sreceipts and State appropriationsb. Less estimated receipts- the receipts of Elizabeth City State University allocated bylawc. Appropriations- which is the amount of money granted to ECSU by the GeneralAssembly out of State revenues.For example:Budget of an agency:Salaries and Wages --------------------------------------------------- $ 10,000Supplies and Materials --------------------------------------------------20,000Printing and Binding ----------------------------------------------------- 5,000Equipment ----------------------------------------------------------------10,000Repairs and Alterations -------------------------------------------------- 5 000Total Requirements----------------------------------------------------$50,000 Less:Estimated Receipts:Sale of Forms ------------------------------------------------------- 10,000Appropriation -- $ 40,000If receipts are only realized to an amount of $5,000, it then will be necessary for theexpenditure to be reduced to $45,000 to compensate for the loss of receipts in the sumof $5,000.