Today s Agenda. I. Introduction a. Schedule and Deadlines b. Expectations. II. Hands-On Training in KBC

Transcription

1 Welcome!

2 Today s Agenda I. Introduction a. Schedule and Deadlines b. Expectations II. Hands-On Training in KBC III. Timeline for Transfers and Budget Adjustments during the year 2

3 FY18 Budget Timeline February March April May June July Units/Departments and Office of Office of Budget and Planning User Training Budget Construction Opens to User Office of Budget and Planning Open Labs Budget Due to Office of Budget and Planning Budget and Planning Reconcile Budgets Budget Construction Closes Prepares Materials for Univ. leadership Board of Trustees Receives Budget Budget is loaded in KSF Office of Budget and Planning 1st 2 Weeks June 28th July 1st Organization/Department Last 2 weeks March 6th All Month April 14th All Month May 1st Note- Items in Red Denote Major Organization/Department Milestones 3

4 User Expectations Complete Required Training Submissions Lead BC (Budget Construction) Processor is responsible for final submission 2 - Ledger balanced Non - 2 Ledger accounts include projected fund balance Transfer Reconciliation complete and ties to Budget Construction - departments must work with the area when budgeting that is sending or receiving funds to ensure offset is reflected in each budget submission. Descriptions and amounts must match At a minimum, use summary object codes Explanation of any significant variances 4

5 Budgeting CBIs During the Budgeting Process when you re working in Budget Construction 2-Ledger (University Supported OPTUI) Accounts - Departments will not include CBIs in their budget submission. Salaries and vacancies for existing positions (pre-populated from the Core-CT and Position Management) will be pre-loaded at the current salary rate Non 2-Ledger Accounts (e.g. 1, 3, 4 and 6-Ledger Fiscal Accounts) Additional guidance will be provided by the Office of Budget and Planning prior to the March 6 th opening of Budget Construction Information will be available at 5

6 Budgeting Fringe Benefits Same process that was instituted for the FY17 Budget Cycle 1. Budget Construction - Fringe Rates for FY18 will be established and loaded into Budget Construction for users at the start of the budget process (March 6, 2017) 2. During the Fiscal Year - Rates will not change during the fiscal year 3. Following Fiscal Year (FY19) - Fringe Rates for FY19 will include any over/(under) recovery from the FY18 rates 6

7 Kuali Budget Construction (KBC) We will now open the Budget Construction module and work on some examples 7

8 Kuali Budget Construction (KBC) Budgeting for Transfers 8

9 Budgeting 2-Ledger Accounts Transfer Object Codes Specific transfer object codes are used for transfers within 2-Ledger accounts Transfer Object Codes (as of FY17): 2-Ledger - Permanent Transfer In Transfer Out Within the Organization Outside the Organization Ledger - One-Time Transfer In Transfer Out Within the Organization Outside the Organization Let s walk through an example of how it works 9

10 Budgeting 2-Ledger Accounts Day 1 of Budget Construction FY18 - Budget Construction 6-Mar-17 Budget Construction Original Pre-Population $ in thousands from Budget Office Revenue Perm Funding $ FY Fringe Rate Adj Bdgt Ledger Perm Transfer-In Ledger One-Time Trans In 0 Total Revenue $400 Expenditure Salary Gordon, Alex 90 Wolquez, Edinson 99 TBA 0 Total Salary $189 Fringe 150 Total Personal Services $339 Contractuals/Commodities Office Supplies 61 Microscope 0 Total Expense $400 Operating Surplus / (Deficit) $0 When Departments 1 st Open Budget Construction Permanent Funding Revenue, existing salary, fringe and base budget contractual commodities will be pre-populated Transfers will not be pre-loaded into Budget Construction TBA Positions (Positions not in Core-CT or Position Management) will not be pre-loaded into Budget Construction 10

11 Budgeting 2-Ledger Accounts - Permanent Transfers FY18 - Budget Construction March 6, 2017 April 14, 2017 Budget Construction Original Pre-Population from Budget Office Budget Construction Departments Enter and Submit $ in thousands Revenue Perm Funding $350 $ FY Fringe Rate Adj Bdgt Ledger Perm Transfer-In Ledger One-Time Trans In 0 0 Total Revenue $400 $515 Expenditure Salary Gordon, Alex Wolquez, Edinson TBA 0 75 Total Salary $189 $264 Fringe Total Personal Services $339 $454 Contractuals/Commodities Office Supplies Microscope 0 0 Total Expense $400 $515 Operating Surplus / (Deficit) $0 $0 In this example the department is adding a TBA position which is being funded permanently by the Budget Office The department will budget for a Permanent Funds Transfer that is being received from another department. In this example $115k, $75k for salary and $40k for fringe The department will budget $75k for a new position via adding a TBA position (Fringe Benefits are automatically calculated by the system, in this example $40k) 11

12 Budgeting 2-Ledger Accounts - One-Time Transfers FY18 - Budget Construction March 6, 2017 April 14, 2017 Budget Construction Original Pre-Population from Budget Office Budget Construction Departments Enter and Submit $ in thousands Revenue Perm Funding $350 $ FY Fringe Rate Adj Bdgt Ledger Perm Transfer-In Ledger One-Time Trans In 0 25 Total Revenue $400 $540 Expenditure Salary Gordon, Alex Wolquez, Edinson TBA 0 75 Total Salary $189 $264 Fringe Total Personal Services $339 $454 Contractuals/Commodities Office Supplies Microscope 0 25 Total Expense $400 $540 Operating Surplus / (Deficit) $0 $0 In this example the department budgets for a microscope and will receive One-Time funding from the Budget Office The department will budget for a One-Time funds transfer being received from another department The department will budget its planned expenditure in Contractuals and Commodities 12

13 Budgeting 2-Ledger Accounts July 1 st View $ in thousands FY18 - Actual as of July 1st Including Encumbrances July 1, 2017 July 1, 2017 July 1, 2017 Base Budget (BB - Beginning Balance) Current Budget (BB - Beginning Balance) Actuals Revenue Perm Funding $350 $350 $ FY Fringe Rate Adj Bdgt Ledger Perm Transfer-In Ledger One-Time Trans In Total Revenue $540 $540 $400 Expenditure Salary Gordon, Alex Wolquez, Edinson Smith, Bob Total Salary $264 $264 $254 Fringe 190 $ Total Personal Services $454 $454 $439 Contractuals/Commodities Office Supplies Microscope Total Expense $540 $540 $500 Operating Surplus / (Deficit) $0 $0 ($100) On July 1 st, both Base and Current Budgets (Fiscal Period BB) will be equal to Budget Construction. Transfers have not been completed. Position has been filled at a salary of $65k, which is $10k less than the budget. The microscope has not yet been purchased. 13

14 Budgeting 2-Ledger Accounts June 30 th View $ in thousands FY17 - Actual as of June 30th June 30, 2017 June 30, 2017 June 30, 2017 Base Budget (Fiscal Periods 1-13) Current Budget (Fiscal Periods 1-13) Actuals Revenue Perm Funding $350 $350 $ FY Fringe Rate Adj Bdgt Ledger Perm Transfer-In Ledger One-Time Trans In Total Revenue $540 $525 $525 Expenditure Salary Gordon, Alex Wolquez, Edinson Smith, Bob Total Salary $264 $254 $254 Fringe 190 $ $ Total Personal Services $454 $439 $439 Contractuals/Commodities Office Supplies Microscope Total Expense $540 $525 $525 Operating Surplus / (Deficit) $0 $0 $0 Departments can update both Base and Current Budgets (we will discuss this in detail later) Transfers are complete. The microscope has been purchased. 14

15 Budgeting 2-Ledger Accounts Looking Forward FY18 - Actuals FY19 January 31, 2018 March 6, 2018 $ in thousands Actuals Budget Construction Original Pre- Population Revenue Perm Funding $350 $ FY Fringe Rate Adj Bdgt Ledger Perm Transfer-In Ledger One-Time Trans In 25 0 Total Revenue $525 $500 Expenditure Salary Gordon, Alex Wolquez, Edinson Smith, Bob Total Salary $254 $254 Fringe $ Total Personal Services $439 $439 Contractuals/Commodities Office Supplies Microscope Total Expense $525 $525 Operating Surplus / (Deficit) $0 ($25) FY18 Actual Permanent Funding and Permanent Transfers will become FY19 Base Budget The $100k budgeted for Permanent funds transfers will be added to the $400k Permanent Funding lines (4100/4101) and will be pre-populated in the next Budget Construction cycle in FY19. 15

16 Kuali Budget Construction (KBC) Thank you for attending Budget Construction Training Please visit for a listing of Open Labs that will be offered throughout the budgeting process 16

17 Kuali Budget Construction (KBC) Thank you for attending the Budget Construction Refresher Please visit For a listing of Open Labs that will be offered throughout the budgeting process 17