Faculty are provided budget updates monthly. When a faculty member has spent 90% of their budget, Olin Finance/Accounting will include a reminder of STAR budget policies. Specifically:
- Faculty who are tenured or have a multi-year contract will be informed that any year-end budget deficit will be carried forward and will reduce their base allocation for the next fiscal year. However, a deficit cannot be carried forward in consecutive years. If a faculty member reaches the limit in the second consecutive year, no additional spending will be approved/reimbursed.
- If the faculty member is a visitor or a clinical faculty in any year of their contract or a tenure-track faculty in the terminal year, then no spending will be approved/reimbursed once the budget is exhausted.