FY2016 Budget Planning Process September 26 and 29, 2014 Slide 2
Agenda 1)Review of Fall Timeline 2)Merger of 1 st Quarter and
Budget Development Processes 3)Budget Development Submission
a.Expectations b.Required Materials 4)Hearings 5)Second Quarter
Update Slide 3 Fall Timeline July & August - Faculty Merits
August 15 th - Budget Committee Review Targeted areas required to
submit current year updates and 3 year projections October 1st
Quarter Confirmation October - Budget Development Submission
November - Hearings October & November Performance Evaluations
November Administrative Merits Slide 4 Budget Processes Revised
October 1st Quarter Confirmation Targeted areas only will receive
requests for additional information Internal analysis by area and
Budget independently Potential follow up by analyst October -
Budget Development Submission November - Hearings Includes review
of 1 st Quarter performance October & November Performance
Evaluations November Administrative Merits Slide 5 Budget
Development Submission Budget Materials will be available on the
BPIR SharePoint site: Slide 6 Budget Development Submission
Materials will be posted on Monday, September 29 th Link to the
SharePoint site and instructions can be found at the Budget &
Planning website
http://www.bu.edu/budget/.http://www.bu.edu/budget/ Slide 7 Budget
Development Submission Required Materials Previous Stage I Budget
Detail Template Slide 8 Budget Development Submission Required
Materials Revised Stage I Budget Detail Template Highlights Fund
Center totals by commitment item summaries provided for: Prior year
actuals Current year budget as of September 30 th Recurring budget
for Plan Year 2016 Input columns included for: Recurring requested
funds Non-recurring requested funds Variance explanation Slide 9
Budget Development Submission Required Materials Revised Stage I
Budget Detail Template Slide 10 Budget Development Submission
Commitment Item Group Classification (subset only) 001 Student
tuition and feesRevenue 003 Sponsored programsRevenue 004 Recovery
of F&A costsRevenue 005 Gifts-operatingRevenue 007 Auxiliary
enterprisesRevenue 008 Auxiliary enterprises student aidRevenue 009
Sales & servicesRevenue 010 Contributions used for
operationsRevenue 030 Salaries and wagesExpense 031 Faculty and
staff benefitsExpense 032 Professional and contracted
serviceExpense 033 Materials & suppliesExpense 034 Other
operating expensesExpense 035 Financial aid, stipends &
otherExpense 036 Other expensesExpense 037 Interest expense &
assessmentsExpense 038 EquipmentExpense 039 Facilities Service
Request (FSR)Expense 041 Rent, Lease, Tax & InsuranceExpense
043 Internal Service Request (ISR)Expense 044 AssessmentsExpense
Net TransfersNet Transfers Slide 11 Budget Development Submission
001 Student tuition and fees(subset only) 400100Tuition-Academic
Year 400110Tuition-Academic Year Undergraduate
400111Tuition-Academic Year Undergraduate Online
400120Tuition-Academic Year Graduate & Other
400121Tuition-Academic Year Graduate & Other Online
400200Tuition-Summer I 400210Tuition-Summer I Undergraduate
400211Tuition-Summer I Undergraduate Online 400220Tuition-Summer I
Graduate & Other 400221Tuition-Summer I Graduate Online
401010Program Fee 401020Study Abroad Program Fee 401030Workshop
Tuition - Other 401031Workshop Tuition - Certificate Program
401032Workshop Tuition - Certificate Program Online 401034Workshop
Tuition - Sem/Short Program Online 401200Continuing Student Fee
401210Applied Music Fee 401220Laboratory Fee 401230Clinical
Affiliation Fee 401240Graduate Student Fee Slide 12 Budget
Development FM Queries Unrestricted Budget to Actual by FC GL/CI
Detail Slide 13 Budget Development FM Queries Go to the Hierarchy
tab Be sure to: Check Hierarchy Active, Select Expansion Level 4,
Select Long Text Slide 14 Budget Development FM Queries Results:
Slide 15 Budget Development Submission Required Materials Slide 16
Stage I Budget Summary Template Schools & Colleges Slide 17
Budget Development Submission Required Materials Stage I Budget
Summary Template Administrative & Operating Slide 18 Budget
Development Submission Required Materials Position Related Requests
Position Management Review and reconcile Position Management report
Training materials available or review with Position Analyst if
preferred. Adjustments to Salaries & Wages commitment item
group Variance explanation is required Position number must be in
the variance explanation Each position request must be in a
separate row on the detail tab of the template Requests for new
positions should be detailed on a separate template. Total of
request should be on the Detailed Budget Template referencing the
new position template. The position template with instructions will
be available on the Budget & Planning website
http://www.bu.edu/budget/.http://www.bu.edu/budget/ Slide 19 Budget
Development Submission Required Materials New Positions Template
Slide 20 Budget Development Submission Completed Submissions
Submissions should be returned via e-mail to [email protected].
[email protected] It is not necessary to copy your submission to either
the University Provost or the President as the Budget Office
provides a summary of all submissions to them as part of the Senior
Leadership review. Since the variance explanation on the form is
limited to 50 characters you should include a memo including
detailed explanation and justifications for requested funds.
Submissions should include: Stage I Budget Development template New
Position template if applicable Memo detailing adjustments to
recurring and/or non- recurring budgets as appropriate Any
additional documentation you would like to provide Slide 21 Budget
Development and Current Year Monitoring Hearings Hearings start
October 27 th and end November 25 th Reporting will be provided to
Senior Leadership which will include 1 st Quarter performance
Second Quarter Similar templates will be provided Position
reconciliation may be required in preparation for Stage II Deadline
will be January 26 th Future sessions and focus groups will be
scheduled throughout the year as we continue to review processes.
Slide 22 Budget Planning Processes 2016 Questions? Please feel free
to contact your Budget and/or Position analyst for assistance or
guidance with this process.
