Objectives Objectives

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2 Objectives Objectives Budget Process Overview Updates Preliminary Preparation 2019 Operating Budget in BudgetPak Complete and Save Salary Worksheets in the W Drive Complete Budget Development Process by: April 16, 2018

3 Objectives Budget Process Overview Allocation & Implementation Finalize Pre - Plan Review & Consolidate Communication of Process Launch & Gather Information

4 Objectives Pre-Plan Request enrollment projections and Patient Care revenue projections Review and analyze information Develop a budget timeline and worksheets

5 Objectives Communication of Process Budget Information Session Phase I Create enrollment and revenue projections with information from various sources

6 Objectives Launch & Gather Information Review and consolidate budget Requests Create and review budget vs. actuals and trend analysis reports Create and review tuition rate analysis

7 Objectives Review & Consolidate Create various budget scenarios Prepare Budget Proposal Prepare salary worksheets Setup balancing worksheets

8 Objectives Finalize 2018/19 Budget approved by Board of Trustees Setup Budget Development Phase II and instructions

9 Objectives Allocation & Implementation Budget Development Process Phase II Review, reconcile, and balance the budget Upload budget and salary increases Review and validate all information

10 Communication (Teamwork) Teamwork

11 Some Reminders Updates Complete Budget Authorization Form Use 2019 Operating Budget Version for BudgetPak Annual Salary Pool approved by the BOT Complete Salary Worksheets in W Drive Fringe Benefit Rate: 33% Sign up for BudgetPak Phase II Training via CAPE March 22 nd from 10:00 AM -12:00 PM Budget Development Deadline: April 16, 2018

12 University Budget Advisory Committee (UBAC) Reporting to the President through the Provost/Chief Operating Officer, the University Budget Advisory Committee is to advise the President and the Board of Trustees on matters related to the university financial planning and priority based resource allocation as part of the annual budget process.

13 Some Reminders Budget Development Phase I - Revised Re-Opened Budget Development Phase I Priority Requests must only total 3 priorities New hire can include computer, telephone, etc. Deadline: Friday, March 23 rd

14 Preliminary Preparations Preliminary Preparation Planning and Creating the 2019 Operating Budget Create budget vs. actual variance analysis. Review deficit accounts requiring budget adjustments (reallocation). Identify historical spending patterns. Identify and adjust for any anticipated expenditure. Synchronize College/Department Strategic Plan(s) with the Budget.

15 Preliminary Preparations Preliminary Preparation Budgeting Tools:

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17 Why BudgetPak? What is BudgetPak? Cloud-based budgeting solution designed to use interfaces to make a complex process user friendly It makes the reallocation process of budgeted funds seamless Consolidates at the rollup level On demand reporting Improves Accountability

18 Accessing Budget Development BudgetPak Software Phase II Training Sign up for BudgetPak Phase II Training via CAPE March 22 nd from 10:00 AM -12:00 PM Training will cover: The following information will be saved in the W Drive Phase II BudgetPak Budget Development Instructions Budget Process Time & Responsibility Schedule BudgetPak Information

19 Accessing Budget Development BudgetPak Overview - Accessing BudgetPak Go to: Log In to BudgetPak

20 Status BudgetPak Overview - Accessing Budget Development Home Menu Status Menu

21 Reallocating Budget Reallocating the Budget This is the only time to make permanent budget adjustments. All accounts need to be adjusted for anticipated expenditures.

22 Budget Reallocation BudgetPak Overview - Reallocating Across the board (all line items) Menu 2019

23 Reports BudgetPak Overview - Report(s) Report(s) 2019 Operating Budget 2018 Adopted Budget 2019 Operating Budget 2018 Adopted Budget Notes for 2019 Operating Budget Have the Dean or Department Head review and approve the 2019 Operating Budget.

24 Reports BudgetPak Overview - Signing Off and Approving the Budget Status Menu Once the 2019 Operating Budget is signed off and approved, no additional changes may be made.

25 Budget Development Process: Salaries

26 Salary Worksheets Salary Worksheets Salary Budget Worksheets to be completed and saved in the W drive: Annual Salary Pool Increases New Approved Positions Approved Position Modifications

27 Salary Worksheets Salary Worksheets Verify all salaries and employee names for accuracy. Identify all salary increases to be recorded in the Salary Worksheets. Please remember that the total amount of all salary pool increases cannot exceed the total amount of salary pool awarded for College/Department as indicated on the worksheets. Verify that the salary amount on the faculty contract is the same as on the Salary Worksheet. Modify or add any new positions as needed on the Salary Worksheets.

28 Accessing Salary Worksheets Accessing Salary Worksheets Go to W:\Budget Office\Your Folder Folder will contain: Budget Process Time & Responsibility Schedule Salary Worksheets

29 Salary Worksheets Completing the Salary Worksheets

30 Salary Worksheets Completing the Salary Worksheets

31 Salary Worksheets Completing the Salary Worksheets

32 Reminders Reminders Faculty contracts signed by the Dean, but not signed by faculty, are to be delivered to the Budget office by April 16, 2018.

33 After Completing the Budget Development Process Phase II After Completing Salary Worksheets After April 16, 2018 all Salary Worksheets will be removed from the W Drive. Please remember to save a copy of the Salary Worksheet and update with changes throughout the fiscal year.

34 Office of Budget Management Planning & Analysis Support For additional assistance please contact the Office of Budget Management, Planning and Analysis:

35 Thank You Thank you for your attention and participation in the Budget Development Process.

36 Questions Questions?