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Phase II 2007-2008 Main Operating Budget Information Session. Objectives. At the end of this session you will be able to: Complete your 2007-2008 Main Operating Budget Template. Agenda. Introduction, objectives, agenda Review 2007-2008 Main Operating Budget Demonstration - PowerPoint PPT Presentation
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Phase II2007-2008 Main Operating Budget
Information Session
Objectives
At the end of this session you will be able to:
• Complete your 2007-2008 Main Operating Budget Template
Agenda
1. Introduction, objectives, agenda
2. Review
3. 2007-2008 Main Operating Budget
4. Demonstration
5. Summary and Questions
Review
The April 2007-2008 Budget exercise will be completed in two steps:
1. Sales & Service and Other Revenue Budget
2. COPSE and Degree & Non-degree Tuition Budget – Main Operating Budget
Review
The April 2007-2008 Budget exercise will be completed in two steps:
1. DONE Sales & Service and Other Revenue Budget
2. COPSE and Degree & Non-degree Tuition Budget – Main Operating Budget
2007-2008 Main Operating Budget
PHASE II.
• This is the development of your main operating budget. (Core Budget)
• Final target budget is pending Board approval. (June 19, 2007)
2007-2008 Main Operating Budget
Difference between 110 and 120 Funds:
110 Unrestricted Operating Funds • Budget is determined in part by COPSE and in part by
degree and non-degree tuition.
120 Internally Restricted • Budget is determined by your best estimate of your
revenue sources.
2007-2008 Main Operating Budget
Predecessor Funds included in this exercise:
110 Unrestricted Operating Funds 11000 General Operating Allocation12107 Targeted COPSE Projects12600 Other Allocations & Projects
(recently changed from 120)
120 Internally Restricted 12103 Targeted COPSE ACCESS12104 Targeted Indirect Cost of Res (613)
• If you have a FOP with no baseline, then it is budget only and is provided for your information.
2007-2008 Main Operating Budget
Main Operating Budget Template
• Performed in Microsoft Excel• Each Worksheet Tab contains one FOP
combination• Staff Benefit and Pay Levy are calculated per
FOP
2007-2008 Main Operating Budget
Main Operating Budget Template
• Includes March 31, 2007 actuals, fiscal and baseline budget to help in budgeting process
• Multiple versions• Templates are accessible through your desktop
(Zenworks or through Network Drive)
2007-2008 Main Operating Budget
Targets based on:
• March 31, 2007 baseline (gross)• Plus/Minus 07/08 adjustments• Less previously established 2007/08
Revenue/Expenditure Targets
2007-2008 Main Operating Budget
Reminders:• Remember not to incorporate your April 1
contract or step increases for Baseline funded positions.
• Remember not to move SIP baseline as it is governed by SIP process.
• Check your FTE count to ensure it is reasonable.
• If you have a baseline funded position, you must include an FTE
2007-2008 Main Operating Budget
FOP Combinations
• NSF transactions are frequently caused by invalid Fund/Orgn/Prog combinations being used.
• Please ensure you are using the correct Program to minimize your transactions from being held up.
• Information will be made available on the web shortly to help you verify your FOP combinations.
2007-2008 Main Operating Budget
Template Demonstration
2007-2008 Main Operating Budget
Summary
• Be as accurate as possible.
• Better budgeting helps everybody
• No Budget = No Spending
• Use information in FAST to help you budget.
2007-2008 Main Operating Budget
Summary
Deadline – June 25, 2007
2007-2008 Main Operating Budget
Questions?