The University Budget Office manages, develops, monitors and analyzes the university's multimillion dollar operating budget. We forecast and analyze the university's financial status, respond to fiscal inquiries and ensure compliance with state and NACUBO guidelines. We also advise on the resolution of budget issues and maintain position control and vacancy reporting for state positions.
Budgeting is a continual process wherein departments are planning for the next year's budget while managing the current fiscal year. The budget process timeline lays out responsibilities and milestones in preparing the university's complex budget.
The University Budget Office publishes an annual Operating Budget and Plan book to share information about the university’s internal budget. The book outlines key budget changes from the previous fiscal year and provides an overview of each division’s budget by revenue source. It is published each fall for the current fiscal year.
TU’s faculty and staff play an important role in maintaining the university’s sound financial footing.
In response to the state-imposed reductions to TU’s budget, we are adding an additional layer of approval on purchases equal to or exceeding $50,000. Beginning May 21, 2025, all purchase requisitions, except those that are grant-funded, will require additional approvals based on the following thresholds:
When submitting requisitions in STRATUS, if the purchase is equal to or exceeding $50,000, the required documentation will now include the completed and signed Essential Purchase Approval Form. Requisitions of $150,000 and above will be automatically routed to the CFO for final approval; however, they still require a signed Essential Purchase Approval Form.
The additional layers of approval will allow the University to ensure we are being fiscally prudent with our resources in these times of budgetary challenges.
You can do your part by limiting purchases to those that are essential to our academic mission, health and safety, or essential business operations. Before purchasing anything, consider whether there are lower or no-cost options available to you, such as utilizing on-campus sources for furniture and computers before purchasing them new.
By finding creative solutions and taking a prudent approach to spending, we can all help TU stay strong!
Essential Purchase Approval Form
FAQ's for Essential Purchase Approval Form
Requests for Special Staff Position Actions include:
Please work with your Divisional Budget Officer when a special staff position action is being considered. All approvals must be obtained prior to working with Human Resources to recruit for the position.
In addition, please work with your Divisional Budget Officer when any salary adjustments are being considered. Funding sources for any salary adjustments need to be identified and if using operating funds, the use of these funds need to be approved prior to working with Human Resources to implement the adjustment. Please use the form below to request the use of operating funds for salary adjustments.
Request for Use of Operating Funds
Towson University's budget is managed through Stratus. Access Stratus Budgeting Information for help working with budgets, and requesting revenue transfers. You can also access of accounts, and information on working with self support departments.