Agenda High-Level Budget Information and Training February 19, 2015 2:00-3:30 Building 19, Room 239 Purpose of Training: Provide high-level general information to departmental budget.
Download ReportTranscript Agenda High-Level Budget Information and Training February 19, 2015 2:00-3:30 Building 19, Room 239 Purpose of Training: Provide high-level general information to departmental budget.
Agenda High-Level Budget Information and Training February 19, 2015 2:00-3:30 Building 19, Room 239 Purpose of Training: Provide high-level general information to departmental budget managers for monitoring their FY15 Budgets and considering changes needed in their upcoming FY16 Budget. This training is general in nature. Specific "how to" trainings are offered throughout the year. See the Budget Office Website Training page for more information. We are always open to suggestions for topics. Today's critical take-aways: Monitor your FY15 Actuals closely for potential overspending or posting errors; send changes for your FY16 Budget to Budget Office by the first of March 2015. 1. Review of Fund Types Q&A 2. General Fund Budgets (Fund 111100) Applicable to all Funds: Explanations of Adopted Budget, Budget Transfers Accounted Budget, etc. What does "Authorized Spending Level" mean What if I run out of "Authorized Spending" Monitoring FY15 Actuals for sufficiency and posting errors Identifying FY16 Budget adjustments Q&A 3. ICP Budgets (old Fund 111200, New Funds 124xxx) Also applicable to the Non-General Funds: New revenue and matching expense budgets Fund Balance vs. Working Capital, Calculations, Spending Down Q&A 4. Non-General Fund Budgets (Funds II-IX) Q&A Funds I-General w/ICP IX-Admin Restrctd II-Internal Service III-Debt Service IV-Capital Projects V-Financial Aid VI-Enterprise VIII-Grants % 31% 6% 1% 4% 11% 36% 7% 5% 100% FY15 $ (Millions) $ 95.0 $ 18.0 $ 2.5 $ 12.0 $ 35.0 $ 109.0 $ 20.5 $ 14.0 $ 306.0 VIEnterprise, 7% VIIIGrants, 5% I-General w/ICP, 31% V-Financial Aid, 36% IX-Admin Restrctd, 6% IV-Capital Projects, 11% II-Internal Service, 1% III-Debt Service, 4% General Fund: Revenue and expense budgets for general education and services. The dollar amounts in this example are made up for the purposes of illustration. Note that the Main General Fund does not necessarily attach revenues directly to a department (how would you allocate the lump payments of State Revenue or Property Taxes to individual programs or departments). Adopted Budget: the budget adopted by the Board. Your total Expense budget is your authorized spending budget. You may not spend more than the Board has authorized you to spend. This is "built " by the B.O. wit h information known to them in early March. Budget Adjustment: you may submit Budget Transfers to shift your M&S or Capit al Outlay expense budgets from one FOAP to another FOAP wit hin the same FundDepartment. Your "+" must exactly match your "-". You may not shift or transfer Revenues. Transfers of Personnel dollars are generally not allowed by departments (consult B.O. for if you think you need to do this). Fund OrganizationAccount Program Fund Title Organization TitleAccount Title 111100 672100 530400 111000 General Fund Pottery Art Classified Non-Unit Employees 111100 672100 540500 111000 General Fund Pottery Art Faculty Unit Employees 111100 672100 560600 111000 General Fund Pottery Art Noncredit Instructors 111100 672100 591900 111000 General Fund Pottery Art OPE Allocated 111100 672100 610000 111000 General Fund Pottery Art Operational Supplies 111100 672100 611550 111000 General Fund Pottery Art Instructional Supplies 111100 672100 612100 111000 General Fund Pottery Art M&S from Lane Printing & Graphics 111100 672100 612200 111000 General Fund Pottery Art Copier Charges from Lane P&G 111100 672100 619150 111000 General Fund Pottery Art Building Rental & Lease 111100 672100 619300 111000 General Fund Pottery Art Telephone Program Title Lower Div Trans/Gen Academic Lower Div Trans/Gen Academic Lower Div Trans/Gen Academic Lower Div Trans/Gen Academic Lower Div Trans/Gen Academic Lower Div Trans/Gen Academic Lower Div Trans/Gen Academic Lower Div Trans/Gen Academic Lower Div Trans/Gen Academic Lower Div Trans/Gen Academic Total Expenses FY15 Actuals: these are the actual expenses (or revenues when applicable) posted to Banner as of the Accounted Budget: this is the Adopted noted date. Watch these closely for errors (for example, someone prepared an ICO wit h transposed ORG numbers Budget plus / minus any Budget Transfers. Note bottom line does not that ended up in your expenses instead of another program's); if the error is not caught before the annual change from Adopted Budget total audit is completed it cannot be changed later. wit hin the same Fund-Department. FY14 FY14 Adopted FY14 Budget Accounted Budget Adjustment Budget 20,000.00 20,000.00 76,327.00 76,327.00 10,000.00 10,000.00 54,843.00 54,843.00 3,776.00 3,776.00 164,946.00 - 164,946.00 FY15 Adopted FY15 Budget FY14 Actuals Budget Adjustment 10,565.26 77,856.50 79,784.00 7,723.50 57,373.65 51,062.00 - 17,454.00 (3,500.00) 1,737.73 - 3,000.00 718.81 500.00 57.60 1,160.00 101.86 157,294.91 148,300.00 - FY15 Accounted Budget 79,784.00 51,062.00 13,954.00 3,000.00 500.00 148,300.00 FY15 Actuals @ 2-10-2015 46,540.62 29,785.98 2,372.73 408.20 18.48 43.00 79,169.01 COPPS: The Income Credit Program (ICP) is designed to aid a department that generates special revenues from fees or charges that directly support a departmental activity or program within the General Fund. The dollar amounts in this example are made up for the purposes of illustration. Adopted Budget: the budget adopted by the Board. Your total Expense budget is your authorized spending budget. You may not spend more than the Board has authorized you to spend. This is "built" by the B.O. with information known to them in early March. Budget Adjustment: you may submit Budget Transfers to shift your M&S or Capital Outlay expense budgets from one FOAP to another FOAP within the same Fund-Department. Your "+" must exactly match your "-". You may not shift or transfer Revenues. Transfers of Personnel dollars are generally not allowed by departments (consult B.O. for if you think you need to do this). Accounted Budget: this is the Adopted Budget plus / minus any Budget Transfers. Note bottom line does not change from Adopted Budget total within the same Fund-Department. FY15 Actuals: these are the actual expenses (or revenues when applicable) posted to Banner as of the noted date. Watch these closely for errors (for example, someone prepared an ICO with transposed ORG numbers that ended up in your expenses instead of another program's); if the error is not caught before the annual audit is completed it cannot be changed later. FY14 FY15 FY14 Adopted FY14 Budget Accounted FY15 Adopted FY15 Budget Accounted FY15 Actuals Budget Adjustment Budget FY14 Actuals Budget Adjustment Budget @ 2-10-2015 Fund Organization Account Program Fund Title Org Title Account Title Program Title 124333 672200 458000 111000 ICP-Arts Pottery Art NonMandatory Fees-Std Project MtrlsLower Div Trans/Gen Academic 3,500.00 3,500.00 2,055.00 3,000.00 3,000.00 1,865.00 124333 672200 470500 111000 ICP-Arts Pottery Art Net Working Capital Lower Div Trans/Gen Academic 2,500.00 2,500.00 2,000.00 2,000.00 124333 672200 471000 111000 ICP-Arts Pottery Art Net Working Capital-Unrestricted Lower Div Trans/Gen Academic 2,255.00 Total Revenue 6,000.00 6,000.00 2,055.00 5,000.00 5,000.00 4,120.00 124333 672200 530400 111000 ICP-Arts Pottery Art Classified Non-Unit Employees Lower Div Trans/Gen Academic 124333 672200 540500 111000 ICP-Arts Pottery Art Faculty Unit Employees Lower Div Trans/Gen Academic Only under limited circumstances 124333 672200 560600 111000 ICP-Arts Pottery Art Noncredit Instructors Lower Div Trans/Gen Academic should there- be labor costs- in ICP funds. 124333 672200 591900 111000 ICP-Arts Pottery Art OPE Allocated Lower Div Trans/Gen Academic Total Personnel Expenses 124333 672200 610000 111000 ICP-Arts Pottery Art Operational Supplies Lower Div Trans/Gen Academic 6,000.00 6,000.00 5,000.00 (3,000.00) 2,000.00 124333 672200 611550 111000 ICP-Arts Pottery Art Instructional Supplies Lower Div Trans/Gen Academic 2,650.00 3,000.00 3,000.00 1,855.00 124333 672200 619300 111000 ICP-Arts Pottery Art Telephone Lower Div Trans/Gen Academic Total Other Expenses 6,000.00 6,000.00 2,650.00 5,000.00 5,000.00 1,855.00 Revenues minus Expenses (595.00) 2,265.00 10.00 Past practice has been to post the audited Fund Balance into a Working Capital FY14 Beginning Fund Balance from Banner Trial Balance Report -> 2,850.00 "Actuals" line item and reversing it back to $0 at audit (since this is not really "new" FY14 Actual Revenue minus Actual Expense -> (595.00) revenue leaving it posted would overstate the Actual revenues). Beginning in FY16 this will no longer be done; Fund Managers will be able to check their Fund's FY14 Ending/FY15 Beginning Fund Balance -> 2,255.00 audited Fund Balance via a Banner report now being developed. Fund VI - Enterprise Fund: Service recipients can be from within or without the college; goal is to be self-supporting. The dollar amounts in this example are made up for the purposes of illustration. Adopted Budget: the budget adopted by the Board. Your total Expense budget is your authorized spending budget. You may not spend more than the Board has authorized you to spend. This is "built" by the B.O. with information known to them in early March. Budget Adjustment: you may submit Budget Transfers to shift your M&S or Capital Outlay expense budgets from one FOAP to another FOAP within the same Fund-Department. Your "+" must exactly match your "-". You may not shift or transfer Revenues. Transfers of Personnel dollars are generally not allowed by departments (consult B.O. for if you think you need to do this). Accounted Budget: this is the Adopted Budget plus / minus any Budget Transfers. Note bottom line does not change from Adopted Budget total within the same Fund-Department. Account Account Type Type Title Fund Organization Account Program Fund Title Organization Title Account Title Program Title 626000 509001 466000 310000 Housing Program Downtown HousingOther Administration Fees & Charges-MiscellaneousStudent Services 50 Revenue 626000 509001 470500 310000 Housing Program Downtown HousingNet Administration Working Capital Student Services 50 Revenue 626000 509001 471000 310000 Housing Program Downtown HousingNet Administration Working Capital-Unrestricted Student Services 50 Revenue 626000 509001 491950 310000 Housing Program Downtown HousingInterest Administration Income - Other Student Services 50 Revenue 626000 509001 498000 1100 Housing Program Downtown HousingMiscellaneous AdministrationRevenue Non-Departmental Revenue 50 Revenue 626000 509001 498000 310000 Housing Program Downtown HousingMiscellaneous AdministrationRevenue Student Services 50 Revenue 50 Total Revenue 626000 509001 610700 310000 Housing Program Downtown HousingCleaning Administration Supplies Student Services 70 Expenditures 626000 509001 611100 310000 Housing Program Downtown HousingOffice Administration Supplies Student Services 70 Expenditures 626000 509001 611500 310000 Housing Program Downtown HousingOperating Administration Supplies Student Services 70 Expenditures 626000 509001 616100 310000 Housing Program Downtown HousingMaintenance Administration Contracts-Equipment Student Services 70 Expenditures 626000 509001 616400 310000 Housing Program Downtown HousingMaintenance Administration & Repair-Building Student Services 70 Expenditures 626000 509001 618500 310000 Housing Program Downtown HousingAccounting Administration & Auditing Services Student Services 70 Expenditures 626000 509001 618720 310000 Housing Program Downtown HousingSub-contractor AdministrationPersonnel Services Student Services 70 Expenditures 626000 509001 618745 310000 Housing Program Downtown HousingSub-contractor AdministrationMiscellaneous Student Services 70 Expenditures 626000 509001 618770 310000 Housing Program Downtown HousingProject Administration Management Student Services 70 Expenditures 626000 509001 619150 310000 Housing Program Downtown HousingBuilding Administration Rental & Lease Student Services 70 Expenditures 626000 509001 619300 310000 Housing Program Downtown HousingTelephone Administration Student Services 70 Expenditures 626000 509001 621500 310000 Housing Program Downtown HousingHold Administration for Allocation Student Services 70 Expenditures 626000 509001 912100 380000 Housing Program Downtown HousingTransfer Administration Out to General Fund Student Services Transfers 70 Expenditures 626000 509001 912300 380000 Housing Program Downtown HousingTransfer Administration Out to Debt Service Fund Student Services Transfers 70 Expenditures 70 Total Expenditures Past practice has been to post the audited Fund Balance into a Working Capital Grand Total "Actuals" line item and reversing it back to $0 at audit (since this is not really "new" revenue leaving it posted would overstate the Actual revenues). Beginning in FY16 this will no longer be done; Fund Managers will be able to check their Fund's audited Fund Balance via a Banner report now being developed. FY15 Actuals: these are the actual expenses (or revenues when applicable) posted to Banner as of the noted date. Watch these closely for errors (for example, someone prepared an ICO with transposed ORG numbers that ended up in your expenses instead of another program's); if the error is not caught before the annual audit is completed it cannot be changed later. FY14 Adopted Budget 300,000.00 1,358,837.00 1,658,837.00 317,282.00 281,327.00 41,300.00 918,928.00 100,000.00 1,658,837.00 - FY14 Budget Adjustment (776,442.00) 776,442.00 - FY14 Accounted Budget 300,000.00 1,358,837.00 1,658,837.00 317,282.00 281,327.00 41,300.00 142,486.00 100,000.00 776,442.00 1,658,837.00 - FY14 Beginning Fund Balance from Banner Trial Balance Report -> FY14 Actual Revenue minus Actual Expense -> FY14 Ending/FY15 Beginning Fund Balance -> FY15 Adopted FY14 Actuals Budget 1,449.64 510,000.00 197,002.44 1,486,250.00 22,499.10 1,358,837.00 1,707,201.18 1,868,837.00 30,158.59 2,982.60 10,335.02 4,000.00 272,508.59 287,395.00 77,055.00 280,000.00 394,476.39 425,000.00 201,039.00 354.10 100,000.00 776,442.00 776,442.00 1,769,351.29 1,868,837.00 (62,150.11) 522,098.92 (62,150.11) 459,948.81 FY15 Budget Adjustment 24,357.00 24,357.00 5,000.00 19,100.00 58,445.00 236,228.00 (294,416.00) 24,357.00 - FY15 Accounted Budget 510,000.00 1,383,194.00 1,893,194.00 5,000.00 19,100.00 345,840.00 516,228.00 130,584.00 100,000.00 776,442.00 1,893,194.00 - FY15 Actuals @ 2-10-2015 459,948.81 98,501.22 1,329,997.00 1,888,447.03 978.14 600.00 13,164.47 146,811.60 70,243.00 242,800.00 100,519.50 100,000.00 776,442.00 1,451,558.71 436,888.32 (23,060.49)