Learn about budget revisions, including changes in state allocations, capital project updates, new grants, and programs. Explore the treatment of salary savings and how they can impact budgeting decisions within colleges.
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Presentation Transcript
BUDGET REVISIONS SALARY SAVINGS ONE-TIME SPENDING Back to Basics CS5
BUDGET REVISIONS: 1. Change in the State Allocation Schedule a. Base change b. Variable or Temp 2. Capital Project Changes a. Increase in funding b. Project completed c. Re-Appropriation Corrections 3. New Grant or Grant Funding Changes 4. New Program 5. Temporary use of funds a. Salary Savings b. Unforeseen FY Expenses c. One-Time Funding d. Pooled Account Distributions 1. Adjunct Faculty 2. Unemployment 3. Increments 4. Buyouts
1. Change in the Allocation Schedule a. Base vs Variable This will require both the GL entry and a budget revision Base changes should be entered as Permanent Budgets Variable changes should be entered as Temporary
Budget input 1. All funds budgeted use the BA1001 screen a. Based on COA setup 1. For Grants, Contracts & CP you can put in a project budget and a fiscal year budget 2. All other funds you have the option of permanent or temporary Budget Revision Review 1. BA1005 quick and high level 2. Jobs a. BA1210J; Budget Revision by Revision # b. BA1209J; Budget Revision by Org 3. Datax Report
SALARY SAVINGS Treatment of Salary Savings varies from College To College 1. Do you allow salary savings to be used for goods & services? a. CPTC doesn t unless Exec Staff has approved b. Faculty salary savings is used to supplement the adjunct faculty pool. c. Typically for other departments, savings are used for backfill. d. CPTC sweeps everything at year end. 2. How often can you sweep for salary savings? 3. Part of the savings should be the benefits associated with the salary budget.
ONE-TIME SPENDING 1. How do you plan for One-Time spending? a. Conservative budgeting of revenue b. Sweep fund balances c. Fund from Int l or Running Start Contracts d. Foundation campaign 2. How do you budget for One-Time spending? a. Who will be responsible for the funds b. Ease of reporting c. Capturing cost associated with a program 3. How do you monitor your One-Time spending?
