Transcript Budget Adjustment Training PowerPoint

Budget Adjustment Training
University Budget Office
Megan Bergstedt
[email protected]
Mackenzie Seeley
[email protected]
Agenda
• Overview of budget adjustments
• The importance of properly budgeted
positions
• How to determine a proper position
budget
• How to request a budget adjustment if
current budgets are not correct
What is a budget adjustment?
• A budget adjustment is used to move
budget from one index/account to
another
• Budget adjustments can only be done
within the same fund type (i.e. state
fund to state fund)
• Budget adjustments always must
balance within the same fund type
Types of Budget Adjustments
• Base Budget Adjustments
– This type of adjustment is “permanent”
– All positions use base budgets
– Show up as a BD02 in reports
• One-Time Only Budget Adjustments
– This type of adjustment only increases
budget for the current fiscal year
– Show up as a BD04 in reports
Reasons for a Budget Adjustment
• A one-time adjustment would be made
for a commitment in a year
• Reallocating budget authority from one
index to another
• Position adjustments happen when any
permanent change to a position occurs
(new hire, FTE change, rate change)
• Moving budget from positions to ops
and vice versa
Properly Budgeted Positions
• Especially important for state funded
positions
• If not properly budgeted, you may not
be allocated enough budget to cover
pay plan increases
• Position budgets assume that the
current employee has been in the
position for the whole fiscal year
Position Budget Changes
• A position budget will change if a new
hire is made a lower or higher rate than
the previous employee
• If an employee has a change in FTE
• If a change to the employee’s base rate
occurs
• If there is a labor distribution change
• We do not budget grant funded positions
Determining Position Budgets
• To determine the proper position
budgets, we use Salary Projections
• A different Salary Projection worksheet
is used for each type of employee
(classified, professional, faculty)
• These projections account a % increase
as determined by a pay plan
• These do not account for out-of-cycle
increases
Salary Projections
• We will use the step-by-step instructions
found here for
– Faculty Salary Projections
– Professional Salary Projections
– Classified Salary Projections
Budget Adjustment Request
• After completing salary projections, if the
projected budget is different from the
current budget, an adjustment is needed
• If you need to adjust budgets for any
other reason, send a request to the
budget office
• This can be done via your own
spreadsheet, an email, or the forms
provided here
Questions?