What Does FTE Mean in Academic Budget?

Save

Before the start of each school year or academic term, school administrators spend time determining how much money they're allowed to spend on their staff. At the start of that process, the administrators will be allotted a certain number of "FTEs," which stands for "full-time equivalent."

How it Works

  • It's pretty simple: An FTE is a full-time job for an entire school year or fiscal year. For example, the University of Colorado-Boulder defines it as "one position, continuously filled, full-time for the entire fiscal year." When developing a budget, let's say an administrator is given a total of 10 FTEs for the school year. That means the administrator is allowed to hire 10 full-time employees for that year, though she may also break that down into other increments. For example, she might hire eight teachers full-time, and then hire four other staff members on a half-time basis. Because the part-timers are working half days, they're considered half FTEs. A higher number of FTEs in an academic budget means the administrator has a bigger budget with which to hire staff.

References

  • Photo Credit moodboard/moodboard/Getty Images
Promoted By Zergnet

Comments

You May Also Like

  • What Does Bandwidth Mean?

    Bandwidth is the amount of data that can be transmitted along a channel during a specified period of time. In most cases...

  • What Does Diversity Mean in Education?

    Diversity refers to the range of identities that exist in a group of people. Common identity categories referenced when discussing diversity include...

  • What Does the Term Drop Ship Mean?

    Whether you already operate an Internet retail business or are considering starting one, being able to drop ship merchandise to your customers...

  • How to Make a Budget

    It is important to learn how to make a budget -- your financial success depends on it. Get into the habit of...

  • How to Calculate FTE Hours

    A company needs to know how many full-time equivalent -- or FTE -- employees it has in order to comply with healthcare...

  • What Is an Annualized Budget?

    An annualized budget is a budget that balances the business' income and profits with the spending and expenses during a single year...

  • What Does It Mean to Balance the Budget?

    A balanced budget is when the income and expenditures in the budget are equal. Think about a balancing scale. To balance it,...

  • What Does Full-Time Exempt Mean?

    Employers typically post job openings as full or part time. Often, these postings include the terms "exempt" or "non-exempt" in the descriptions....

Related Searches

Check It Out

3 Day-to-Night Outfits for the Work Week

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!