Transcript Quarterly All Funds Budget

College of Agriculture & Life Sciences
September 24, 2013
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Content
Message from the Dean
Purpose, Definition, Tools
Process, Projecting
Revenue
Expenditures
Reasonableness & Review
Conclusion
Slide Number
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4-6
7-8
9-11
12-17
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Multi-year financial planning and oversight are
important components of a unit’s ability to meet
strategic and programmatic goals. Each unit head
has the delegated authority, responsibility and
accountability to lead and manage the unit. This
includes managing the unit’s resources consistent
with achieving its stated goals and strategic
objectives.
The Executive Council and I expect unit heads
and business leaders to thoughtfully develop and
build financial stability into every unit’s academic and
research success, and we view the quarterly budget
as an important part of that effort.
Shane Burgess
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Integrate multi-year financial plan with unit’s
overall academic and programmatic plans
Detect possible unit deficits with enough time to
take corrective action and avoid them
Develop strong working relationships,
communication, and a financial partnership
between the unit head and business leader
Create a stronger understanding of resource
generation and resource constraints
Understand the tradeoffs associated with
opportunity costs and programmatic priorities
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Accounts & Expenses INCLUDED
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Accounts & Expenses EXCLUDED
State and Federal Formula Funding
TRIF – Technology Research Infrastructure Fund
Locally Allocated: 211XXXX and 255XXXX
Auxiliaries
Designated Activities (cash style): FPC, Patent Royalty,
Sales & Service, Conference, Summer Session, etc.
◦ Gift Accounts
◦ Loan Payments – NOT the outstanding principal
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◦ Sponsored Projects: 3 and 4XXXXXX
◦ Student Scholarship Expenses and Accounts
◦ Non-operating Funds: Endowments, Plant Funds, Agency
Accounts, Outstanding Loan Principal, etc.
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PowerPoint of how to Complete the Budget
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Revised Excel Spreadsheet Budget Template
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Shared College Dashboard in Analytics:
Dashboards/UA Colleges/CALS
UA Foundation Financial Report (if applicable)
Unit Version of the CALS Temporary
Commitment List
Your Expert Knowledge of Your Unit (most
important)
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Review data from source documents (e.g.
dashboard, UA Foundation, etc.) each quarter
Transfer data from the dashboard to the
spreadsheet tabs via data export or manually
Review historical data, known requests and plans
with unit head to develop a forecast for the
remainder of the year and for future years
Please document your assumptions in the
appropriate spreadsheet tabs or via cell notes –
helps explain the numbers
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Quarterly actual data should inform your annual projections.
Except for current year actuals, all figures on the summary
report should reflect a FULL fiscal year, and should tie to source
data or be based on logical and reasonable projections.
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Straight Line Projections: linear growth throughout year.
One quarter of expenses multiplied by 4; two quarters
multiplied by 2, etc.
Cyclical or Seasonal Projections: non-linear throughout year.
May be seasonal like summer session revenues and
expenditures.
Your expert knowledge of your unit is critical to know which
method is appropriate to use. Please document your
assumptions.
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Use the Operating Revenues tab in the dashboard,
“Budgeted Accounts,” to determine the budgeted
revenues. Revenues will need to be projected for
the current year and future years (use perm budget
plus/minus projected amounts.
Filter on department name and fiscal year
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Use the Operating Revenues tab in the
dashboard, “Non Budgeted Accounts,” to
determine the cash style revenues
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Some units have funds controlled by a PI or
restricted for specific purposes. Units can use this
section to identify those funds.
This is optional based on unit need.
If used, the total revenues MUST EQUAL the total
operating revenues from the source documents.
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Salaries & Wages are broken down into:
T/C Track Faculty
Non-T/C Appointed Professionals (AP)
Classified Staff
Graduate Assistants
Wages
Other (includes allowances, supplemental comp,
etc.)
◦ Employee Related Expenses Benefits (ERE)
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Use the Operating Expenses and Personal
Services & ERE tabs in the dashboard
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Use Personal Services & ERE tab in dashboard
Select all Period Numbers to date – e.g. 1 thru
3, 1-6, 1-9, or 1-13
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Use the Personal Services & ERE tab, “Other
Appointed Professionals” query from the
dashboard
Project full year figure for current and future
years
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Use the Operating Expenses tab on the
dashboard for staff, GA, wages, other salary,
and ERE
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Use the Operating Expenses tab in the dashboard
Total Operating Expenses must equal source
documents
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Development and Academic Program Development
line items will require your intuition and knowledge
of your unit. Please do not double count expenses.
Utilities are reflected separately in the dashboard –
object codes beginning with 45XX only
Please include only the annual payments you are
making on debt service or loans – do not include
principal balance
Avoid duplicating loan payments in both Other
Operations and Debt Service & Loan Payments
◦ Reflect as Debt Service & Loan Payments only
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Review all figures for reasonableness – does it
make sense with what your instincts tell you?
Double check that formulas and links are
working correctly
Highlight unit financial strengths and
weaknesses with your unit head when you
both review the budget together
The process, tools, and resources are a work
in progress. We invite your comments and
welcome suggestions to improve the
Quarterly Budgets.
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Got questions? CALS Admin Services wants to
help.
◦ Financial Questions
 Madge Mock, 626-8353, [email protected]
◦ Data or IT Questions
 Maria Marzinsky, 626-3577, [email protected]
 Walter Morrow, 621-3650, [email protected]
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