please respond to Keegan with. 370. words. a p. a style please include. citation

please respond to Keegan with. 370. words. a p. a style please include. citations and references
After reading this week’s chapters from Barr and McLellan (2018) I felt like two things happened at once. The first being that I grasped a better understanding of some of the budget nomenclature used by businesses and universities, but secondly, I felt glad and thankful that I did not specialize in finance and accounting because some of these concepts are wildly complex.
After the book’s explanation of auxiliary and capital budgets, I was able to think about my current experience working in higher ed and draw connections to direct examples that I see as it comes to both auxiliary and capital budgets. For much of the last year, I have been involved in weekly meetings going over a 15-million-dollar capital project at our university. A new residence hall is under construction and will be opening in the Spring of 2024. The readings tells us that Capital budgets are created for the purpose of supporting such construction or renovation projects (Barr and McLellan, 2018). This definition was easy for me to understand as I had this direct example to think about. Like all capital projects, an organization must determine how they are going to pay for it. I’ve observed our university launch a full-fledged fund-raising campaign with aims of financing this new res hall. This is a donor driven project; our president desired to see our auxiliary budget go unaffected from this project.
I was curious to see what I could find online regarding Texas Tech’s budgeting cycle and see if I could learn any specific details about their annual spending, auxiliary budgets, capital projects, and more. There was a very thorough and clear document posted on their website (Texas Tech, n/d). As you can imagine, TTU’s budget was massive. Though it was large, it was very easy to make connections between this outward facing document and the verbiage that we read about this week. Their auxiliary budget includes line items such as intercollegiate athletics, residence halls, hospitality services, traffic and parking, student union, and other sales and services. They anticipate to earn $202,646,00 in auxiliary revenue in 2023.
As it comes to capital projects, this document does not appear to clearly state what projects took place, however it does show funds being available for such things. A facilities allocation committee receives 1 million dollars each year to determine what areas on campus are most in need of these services. There are also capital funds allocated each year for things like libraries, academics, technology, and start up packages.
The document that publicly shares Texas Tech’s financial and budgeting information is very well made. There is an impressive pie chart near the front of their document that visually demonstrates the allocation of each area. Another helpful tool that is present is a key/ definitions page toward the front that can help readers understand better what they are looking at. This is a very good document; I would not recommend changes to it. The only disappointment I had was wanting to see more detail and specifics on the capital budget columns.
References:
Barr, M. J., & McClellan, G. S. (2018). Budgets and financial management in higher education. John Wiley & Sons, Incorporated.
Texas Tech University. (n.d.). https://www.depts.ttu.edu/irim/Reports/StateReport…