Budget Calendar

FY 2013 University Budget Calendar

FY 2013 ABP Guidelines Instructions Manual

• PLANNING:
  
  • September 2010:
    • Office of Budget & Planning distributes the following to all Vice Presidents, Deans, and their respective Budget Representative to initiate the FY2012 budget development process:
    • Universtiy Budget Calendar
    • Budget Development Reports (i.e. organization level budget vs. actual spreadsheets)
    • Instructions for development of Annual Budget Plan (i.e. narrative)
       


• FY 2012 UNIVERSITY FORECAST MODEL:
  • September 29, 2010 to October 27, 2010
    • Budget Committee and the following Sub-Committees meet to develop a proposal to the President to set the key fiscal parameters:
      Tuition & Pricing – Tuition and fee rates and institutional aid discount rate
      Compensation – Total University increase pool
      Auxiliaries – Room and board rates
    • Deans and Budget Representatives develop pro-forma income statements for each proposed new program and submit to the Tuition & Pricing sub-committee to support pricing recommendations
    • President, Provost, VP for Enrollment Management & Deans develop and reach consensus on the FY2012 enrollment projections
    • Benefits Office prepares benefits budget and submits to Office of Budget & Planning for review and incorporation into the FY2012 University Forecast Model
  
  
  • October 29, 2010
    Budget Committee submits their recommendation for tuition rates, housing fees, and compensation (salary and benefits) funding to the Operations Committee for review and approval
  
  
  • November 1, 2010 through November 9, 2010
    The Office of Planning and Budget develops the FY2012 University Forecast model based on data provided by various University sources, including:
    • Key fiscal parameters from the Operations Committee
    • Enrollment projections from Enrollment Management
    • New program pro-forma income statements from the Office of the Provost
    • FY2012 benefits budget from Human Resources
    • Contractually obligated expenditures for items such as security, cleaning, and debt service
    • The President, the Provost and the EVP for Finance & Planning review, revise and approve the University Forecast Model
  
  
  • November 10, 2010
    Presentation of draft University Forecast Model to the Finance Committee of the Board of Trustees
  
  
  • November 12, 2010 through November 22, 2010
    Operations Committee reviews, revises and approves University Forecast Model
  
  
  • December 8, 2010
    The Board of Trustees meet to approve the FY2012 tuition rate structure and institutional aid discount rate


• FY 2012 DEPARTMENT-LEVEL BUDGET DEVELOPMENT PROCESS:
  • December 1, 2010 through December 20, 2010
    Based on the University Forecast Model, the Operations Committee develops expense parameters for each School and Division
  
  
  • January 7, 2011
    • The Office of Budget & Planning distribute the Annual Budget Plans to the Deans, VPs and Budget Representatives.
    • The Operations Committee distributes the approved University Forecast Model and communicates the School and Division expense parameters to their direct reports.
  
  
  • January 10, 2010 through February 11, 2011
    • The Deans and VPs develop and communicate department-level expense parameters to all Department Managers (e.g. AVPs, Directors, Chairs, etc.) and Budget Representatives
    • The VPs, Deans, Department Managers and Budget Representatives prepare their Annual Budget Plan
    • University benefits rates (e.g. medical, dental, life, LTD, STD, COBRA/Direct Billing), are finalized and budget is updated to reflect changes
    • University Benefits Advisory Committee reviews the plan’s impact on the budget to determine if changes are warranted
  
  
  • February 14, 2011 through February 25, 2011
    • The President, Provost, EVP for Finance & Planning, and the Senior Vice President for Administration meet with their direct reports to review, revise and approve the Annual Budget Plans
    • Budget Representatives update their Annual Budget Plans to remove deferred strategic initiatives and make all final changes
  
  
  • February 28, 2011
    The Deans and VPs submit their Annual Budget Plans to the Office of Budget & Planning for consolidation.
  
  
  • March 1, 2011 through March 7, 2011
    All approved Annual Budget Plans are consolidated into the draft University Budget and is distributed to the Operations Committee for review and approval
  
  
  • March 16, 2011
    Presentation of the draft University Budget to the Finance Committee of the Board of Trustees
  
  
  • March 23, 2011
    Presentation of the draft University Budget to the Board of Trustees
  
  
  • March 28, 2011 through April 8, 2011
    Operations Committee reviews, revises (if necessary) and approves the University Budget
  
  
  • April 20, 2011
    Presentation of final University Budget to the Finance Committee of the Board of Trustees
  
  
  • May 11, 2011
    Presentation of final University Budget to the Board of Trustees


• FY 2012 BUDGET UPLOAD AND REPORTING:
  • June 2011
    • The Office of Budget & Planning uploads the final University Budget into Banner
    • The Office of Budget & Planning sends budget transmittals letters to all Deans, VPs and Budget Representatives advising of the approved FY2012 operating budget appropriation
    • The Deans, VPs and Budget Representatives review budget transmittal letters and adjust for any corrections needed
    • The Deans, VPs and Budget Representatives send to the Office of Budget & Planning a signed acknowledgment of the receipt and review of the final FY2012 operating budget appropriation
    • The Office of Budget & Planning prepares and distributes the FY2012 University Budget Book to the Board of Trustees, Management Council, and all other key stakeholders
  
  
  • October 2011, January 2012 & April 2012
    • The Office of Budget & Planning prepares and distributes FY2012 Quarterly Budget vs. Actual Report to each VP and Dean, the Director of Academic Budgets, and each Budget Representative.
    • The President, Provost and EVP for Finance & Planning conduct quarterly review meetings with each VP and Dean
    • Based on the review of the quarterly budget vs. actual data, the University Budget is reforecast and adjusted in Banner

 Budget Meetings:

	Please review our Policies and Procedures for additional information.
	Please review our Forms for additional information.