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This document contains the agenda and minutes for the Budget, Finance and Facilities Committee Meeting of the Board of Trustees at Florida Agricultural and Mechanical University (FAMU) held on February 12, 2025. It details action and information items discussed, including approval of previous meeting minutes, contract authorities for various construction projects, financial reports, and resolutions related to campus facilities and commemorative installations.
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What is budget finance and facilities?
Budget finance and facilities refer to the allocation and management of financial resources and the physical infrastructure needed to support an organization's operations and projects.
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Organizations that receive public funding or government grants, as well as those managing public facilities, are typically required to file budget finance and facilities.
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To fill out budget finance and facilities, organizations should gather relevant financial data, outline expected expenses and revenues, and provide detailed information on facilities used, while following any specific guidelines provided by the funding authority.
What is the purpose of budget finance and facilities?
The purpose of budget finance and facilities is to ensure transparency, accountability, and effective planning in the management of financial resources and physical facilities to achieve organizational goals.
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The information that must be reported includes budget estimates, actual expenditures, funding sources, facility descriptions, usage metrics, and any variances from the projected budget.
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