Office of Finance

Bryan C. Dadey, MBA, CPA Associate Vice President for Finance FY 16 Budget Update 1

UNIVERSITY OF TOLEDO Budget Process Update

• Final Budget Meetings with the Provost have been completed. • Final Budget Meetings with the VP’s in administration have been completed. • Process allowed for revenue (growth) as part of the targets.

• The Budget Office is currently reviewing the information in the Budget Development Tool. • The Budget Office will compile the target information and preliminary budget next week. 2

UNIVERSITY OF TOLEDO Budget Schedule

• April: Present Budget to Senior Leadership Team (SLT) • May: Present Budget for approval to the Board of Trustees – Finance & Audit Committee • June: Present Budget for approval to the Board of Trustees 3

UNIVERSITY OF TOLEDO Budget Book

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GASB Format Income Statement

• Consistent format with quarterly and year-end reporting • Included as a part of the board presentation • Budget to include all activities of the University that are included in the annual financial statement report • UT Physicians Group • Endowment Fund • Consolidating schedules will be included • • UT Health – include separate columns for UTMC, UTP and UTMAC Academic – include separate columns for General & Designated, Restricted (Grants), Auxiliary, Endowment, etc. 4