University budgets

Budget

This is the document on which all financial administration is based. It is an authorisation for the management of revenue and expenditure: it lists the available financial resources and plans expenditure, allocating resources to the various structures.

The document is drafted in mixed financial terms:

• for each revenue and expenditure item, the budget indicates the amount of the revenue expected (at the time of the right to payment) and the expenditures expected during the financial year the budget refers to (the time of the legal obligation to pay);
• it is linked to the previous financial years via the presumed financial results (any administrative surplus used to balance the accounts).

University budget documents (in Italian)

Financial Statements

This document represents the financial results of the annual administration and describes any financially important facts and events.

It acts as an administrative control over the conformity to the authorisations for the management of public funds; it acts as a guarantee towards the State and all potential stakeholders over the financial health of the body in terms of liquidity and solvency, and provides information on the results achieved during the referred financial year.

Accompanied by descriptive reports, the Financial Statements include the following documents:

• Balance sheets: includes the results of the financial management in terms of revenue and expenditure divided by titles, categories and chapters; it distinguishes the financial management of the referred financial year (current budgets) from the financial management of previous years (residual budgets).
• Administrative situation: indicates the financial values of the initial year funds and the end of year administrative result.
• Asset situation: quantifies the set of assets and liabilities at the start of the financial year, the variations of individual asset and liability entries during the year, the set of assets and liabilities at the end of the financial year and the increase or decrease in net equity as a result of the financial year management or other reasons.

Consolidate Balance Sheets: represents the overall results of the financial management of the General Administration and the Structures with budgetary autonomy, specifically indicating any internal transfers between the various separate administrations and the aggregation of assets.

Financial Statements documents (in Italian)