FY2016 Budget Planning Process

FY2016 Budget Planning Process

September 26 and 29, 2014

Agenda1) Review of Fall Timeline

2) Merger of 1st Quarter and Budget Development Processes

3) Budget Development Submission

a. Expectations

b. Required Materials

4) Hearings

5) Second Quarter Update

Fall Timeline• July & August - Faculty Merits

• August 15th - Budget Committee Review

• Targeted areas required to submit current year updates and 3 year projections

• October – 1st Quarter Confirmation

• October - Budget Development Submission

• November - Hearings

• October & November – Performance Evaluations

• November – Administrative Merits

Budget Processes Revised

• October – 1st Quarter Confirmation

• Targeted areas only will receive requests for additional information

• Internal analysis by area and Budget independently

• Potential follow up by analyst

• October - Budget Development Submission

• November - Hearings

• Includes review of 1st Quarter performance

• October & November – Performance Evaluations

• November – Administrative Merits

Budget Development Submission

Budget Materials will be available on the BPIR SharePoint site:


Materials will be posted on Monday, September 29th

Link to the SharePoint site and instructions can be found at the Budget & Planning website http://www.bu.edu/budget/ .

http://www.bu.edu/budget/



Budget Development Submission Required Materials

Previous Stage I Budget Detail Template


Revised Stage I Budget Detail Template Highlights

• Fund Center totals by commitment item summaries provided for:• Prior year actuals• Current year budget as of September 30th

• Recurring budget for Plan Year 2016

• Input columns included for:• Recurring requested funds• Non-recurring requested funds• Variance explanation


Revised Stage I Budget Detail Template


Commitment Item Group Classification (subset only)• 001 Student tuition and fees Revenue• 003 Sponsored programs Revenue• 004 Recovery of F&A costs

Revenue• 005 Gifts-operating Revenue• 007 Auxiliary enterprises Revenue• 008 Auxiliary enterprises student aid

Revenue• 009 Sales & services Revenue• 010 Contributions used for operations Revenue• 030 Salaries and wages Expense• 031 Faculty and staff benefits Expense• 032 Professional and contracted service Expense• 033 Materials & supplies Expense• 034 Other operating expenses Expense• 035 Financial aid, stipends & other

Expense• 036 Other expenses Expense• 037 Interest expense & assessments

Expense• 038 Equipment Expense• 039 Facilities Service Request (FSR)

Expense• 041 Rent, Lease, Tax & Insurance Expense• 043 Internal Service Request (ISR)

Expense• 044 Assessments Expense• Net Transfers Net Transfers


001 Student tuition and fees (subset only)400100 Tuition-Academic Year400110 Tuition-Academic Year Undergraduate400111 Tuition-Academic Year Undergraduate Online400120 Tuition-Academic Year Graduate & Other400121 Tuition-Academic Year Graduate & Other Online400200 Tuition-Summer I400210 Tuition-Summer I Undergraduate 400211 Tuition-Summer I Undergraduate Online400220 Tuition-Summer I Graduate & Other400221 Tuition-Summer I Graduate Online401010 Program Fee401020 Study Abroad Program Fee401030 Workshop Tuition - Other401031 Workshop Tuition - Certificate Program401032 Workshop Tuition - Certificate Program Online401034 Workshop Tuition - Sem/Short Program Online401200 Continuing Student Fee401210 Applied Music Fee401220 Laboratory Fee401230 Clinical Affiliation Fee401240 Graduate Student Fee

Budget Development FM Queries

Unrestricted Budget to Actual by FC – GL/CI Detail


Go to the Hierarchy tab

Be sure to:Check Hierarchy Active, Select Expansion Level 4,Select Long Text


Results:


Stage I Budget Summary Template – Schools & Colleges


Stage I Budget Summary Template – Administrative & Operating


Position Related Requests

• Position Management• Review and reconcile Position Management report

• Training materials available or review with Position Analyst if preferred.

• Adjustments to Salaries & Wages commitment item group • Variance explanation is required• Position number must be in the variance

explanation• Each position request must be in a separate row

on the detail tab of the template• Requests for new positions should be detailed on a

separate template. Total of request should be on the Detailed Budget Template referencing the new position template.

• The position template with instructions will be available on the Budget & Planning website http://www.bu.edu/budget/ .



New Positions Template


Completed Submissions

• Submissions should be returned via e-mail to [email protected].

• It is not necessary to copy your submission to either the University Provost or the President as the Budget Office provides a summary of all submissions to them as part of the Senior Leadership review.

• Since the variance explanation on the form is limited to 50 characters you should include a memo including detailed explanation and justifications for requested funds.

• Submissions should include:• Stage I Budget Development template• New Position template if applicable• Memo detailing adjustments to recurring

and/or non-recurring budgets as appropriate• Any additional documentation you would like

to provide

mailto:[email protected]

Budget Developmentand Current Year Monitoring

Hearings

• Hearings start October 27th and end November 25th • Reporting will be provided to Senior

Leadership which will include 1st Quarter performance

Second Quarter

• Similar templates will be provided• Position reconciliation may be required in

preparation for Stage II• Deadline will be January 26th

Future sessions and focus groups will be scheduled throughout the year as we continue to review processes.

Budget Planning Processes 2016

Questions?

Please feel free to contact your Budget and/or Position analyst for assistance or guidance with this process.

FY2016 Budget Planning Process

Documents

Transcript of FY2016 Budget Planning Process