FY23 Budget Process Overview
Explore the detailed timeline and responsibilities for the FY23 budget process, including position budgeting, financial oversight, and local estimates. Stay informed about key dates and requirements to ensure a smooth budgeting process.
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Presentation Transcript
FY23 BUDGET KICKOFF MARCH 2022
AGENDA Welcome Budget Timeline FY23 Process and Expectations Anaplan Refresher Questions and Contacts 2
LOOKINGATFY23 State appropriation for FY23 is TBD Enrollment projections for Fall 2022 show a decrease. 3
FY23 BUDGET TIMELINE March 1st: TODAY let s talk budget March 1st: Anaplan templates open for entry March 15th: DUE DATE Position review and changes finalized in Anaplan March 29th: DUE DATE Local DeptIDs without UCA funding templates completed in Anaplan April 13th: DUE DATE Local DeptsIDs with UCA funding and State budget templates completed in Anaplan April 13th May 5th: UOB staff review and compilation of FY23 budget May 6th: Budgets due to ABOR 4
FISCAL RESPONSIBILITY General levels of authority associated to budget oversight Senior VP for University Operations/CFO University Director of Budget University Budget Office (UBO) Cabinet/Department Fiscal Oversight Role 5
FY23 BUDGET PROCESS POSITION BUDGETING Review each position Is FTE count correct Split funded positions confirmed they total 100% Is the funding source correct No: submit ePar and/or funding change form Split funded positions are budgeted correctly by all departments involved Is the salary amount correct No: Enter the correct salary ERE Anaplan automatically calculates the ERE 6
FY23 BUDGET PROCESS LOCAL FY22 ESTIMATES FY22 Year-end Estimates Forecasting estimates need to be manually added to the local finance template FY22 Est Year End Budget column Will any of your DeptIDs end FY22 with a deficit? YES: Email a completed Plan of Action Form to the UBO (your budget representative) by the March 29th due date 7
FY23 BUDGET PROCESSFY23 FINANCIAL TREEINPEOPLESOFTFINANCIAL What is a Financial Tree? The hierarchy structure of your financial accounts Cabinet Branch Department DeptIDs FY23 tree pulled into Anaplan reflecting any requested reorganizations Review the tree for your area and communicate any changes ASAP 8
FY23 BUDGET PROCESS LOCAL FY23 REVENUEBUDGET FY23 Revenue Budget Entry Program Fee RSA will remain at 14% 86% of program fee revenue is directed to designated fund DeptsID Enter FY23 projected revenues into the FY23 Budget Input column Be planning any administrative overhead costs that may be associated with your revenues 9
FY23 BUDGET PROCESS LOCAL FY23 EXPENSEBUDGET FY23 Expense Budget Entry Salary expense (711) and EREs (720) automatically load from the position budget template Non-personnel expense can be reallocated with the changes to the budget netting to zero Administrative Overhead Charge Consider this expense when setting fees and rates for some services and conferences Expense is budgeted as an operating expense in class 741 University Charges AUXILIARY 15% DINING & HOUSING 30% Designated DeptIDs 10% 10
FY23 BUDGET PROCESS LOCAL FY23 EXPENSEBUDGET Risk Insurance Vehicle calculation is based on total number of automobiles Manually enter budget in account class 741 University Charges Liability based on % of prior year personnel services (711, 712, 713, 714, 715) Automatically calculated in account class 741 University Charges VEHICLE COMPONENT GENERAL LIABILITY $400 2.75% 11
FY23 BUDGET PROCESS LOCAL FY23 EXPENSEBUDGET ITS Network Charge and Long Distance Charge for network expenses is calculated as a % of personnel services (711, 712, 713, 714, 715) Automatically calculated in account class 740 Utilities/Other Ops/Insurance ITS NETWORK CHARGE 1% Long Distance Calls Continue to be an additional charge and should be budgeted Manually enter budget in account class 740 Utilities/Other Ops/Insurance 12
FY23 BUDGET PROCESS LOCAL FY23 TRANSFERBUDGET Non-UCA Transfers Between DeptIDs Input on the Local transfer tab at DeptID level Coordinate with the other departments or Fiscal Oversight representatives if part of transfer is outside of your direct area Summer Attainment Transfer Acct Class 810 Offset Acct DEPTID 7900080F21 Capital & Debt Transfers Type Acct Class 840 840 Reason Capital Project Debt Service Capital Project Debt Service Winter Attainment Transfer Acct Class 810 Offset Acct DEPTID 7100170W21 13
FY23 BUDGET PROCESSSTATE FY23 The State budget template calculates the FY23 Final Budget by adding the FY22 Starting Budget with the FY23 Budget Reallocation column Non-personnel expense can be reallocated with the changes to the budget netting to zero Make changes in the FY23 Budget Reallocation column 14
STAYTUNED University Budget Advisory Board(UBAB) Will provide input and recommendations to the president on prioritizing and funding university initiatives and operational excellence through the budget process Information on the creation and next steps will be communicated as they become available 15
ANAPLANREFRESHER www.Anaplan.com 16
QUESTIONS AND CONTACTS Questions? Thank you for your partnership! We look forward to continuing to work with you all this budget season! Budget Contacts: Alisa Badenhorst: 523-6254 Megan Cunningham: 523-5329 Maria Galvez: 523-8344 17
