Planning, Budget & Analysis Self-Supporting Budget Training Workshop Page 1

What’s New  Workday: October 1, 2016  There will be budget changes  Will not effect the way you budget for FY17  PBA will take care of integration from Advantage to Workday Page 2

Overview & Quick Reference What is a budget? Why do we budget? When do we need to budget? Who prepares the budget? How is a budget built? Page 3

What is a budget? A Budget is a list of planned revenue and expenditures used as a tool for assessing performance and providing for internal management controls. Page 4

Why do we budget? Budgets create a structure for both planning operations (hiring, major equipment purchases, moves, etc.) for the coming year and assessing actual performance throughout the year. Page 5

When do we need to budget? There are three primary ‘budget triggers’: Board of Regent Requirements Position Control Requirements Fund (the first four digits of the account number) Requirements Page 6

Board of Regents requirements Each fiscal year all self-supporting budgets with total budgeted expenditures greater than $25,000 must be approved by the Board of Regents. For budgeting purposes, ‘total budgeted expenditures’ excludes expense objects 39 (recharge), VT (voluntary transfers out) and 79 (reserves). All other expense objects (10,11, ,30 and so on) are included in the $25,000. In other words, if the amount on is over $25,000, the budget will be submitted to the Board of Regents. Form 1, Part 2, line 19 Page 7

Self-Supporting Budget Request Back Page 8

Position Control requirements A budget must be in the system before any wages or salaries can be paid from expense object codes: 10 (Letter of Appointment with or without benefits) 11 (Professional) 12 (Graduate) 14 (Classified) 15 (Student Wages/Temporary Labor). Remember fringe (obj. 16) must be budgeted Page 9

Fund requirements The following funds require that a budget be in place before any expenditure activity can be processed: 1201, 1202, 1204, 1206, 1208,1210, 1211,1212, 1213,1300,1317,1318, 1319, 1407, 1504, 1505, 1506, 1700,1701, 1702, 1703, 1704, 1705, 1708, 1709, 1711, 1712 Once an account is part of a budget required fund, it remains in that fund, even if activity decreases below $25,000 per year. Page 10

Fund requirements Continued… The Controller’s Office can only change an account to a budget required fund as part of the ‘fiscal year opening’ procedures. You may request that an account be moved to a ‘budget required’ fund if you find expenditures or encumbrances are frequently occurring before revenues are received. The Budget Office may request that an account be changed to a ‘budget required’ fund if both current year actual expenditures and projected expenditures are > $25,000 or if the trend over the past few years indicates the account will be reportable to the Board of Regents Please remember to change the account numbers on all employment documents and in the comprehensive position lists (via CBE) if the fund is changed to a ‘budget required fund’. Page 11

Who prepares the budget? Preparing an effective budget requires a joint effort between the people responsible for managing the fiscal operations (tracking purchases, making deposits, processing PAFs and budget revisions) and those who understand and manage the non-financial activities giving rise to the account. These non- financial activities include generating the revenues, managing projects, determining when renovations, relocations or equipment replacements will occur. Page 12

Steps to building a budget Download budget form from PBA website Review and print the budget Complete budget request form Gather financial reference reports Gather position data Forward original to the appropriate office for review, typically the Dean’s or Budget offices Page 13

Getting to the PBA website Fiscal Year 2017 Long Form for Accounts > $25,000 Page 14

Page 15 Download Selfs Long Form Selfs16long(2).xlsx

Page 16 Saving Form Click on Enable Editing. Then save form to your directory.

Gather position data PLEASE NOTE..SOME PEOPLE DO NOT HAVE ACCESS TO THIS APPLICATION Page 17

Getting Position data Page 18

Getting Position data Comprehensive Position listing Page 19

Getting Position data continued… 3. Get Report Page Your Account 1. Curr Yr

Getting Position data continued… CPL DATA Page 21

Getting Position data continued… Open and Print the CPL Page 22 FYPOSNOFAO_ACCOUNTVPRESDEANDEPTFULL_NAMEJOB_TITLEEARN_CDCONT_TYPERANK_GRADE_STEPADDL_DUTIESCL_MERIT_DTEPRANNUAL_FTESALARYFRINGEUPLOADNOTEEMP_TYPETENURE_STATUS …YOUR ACCT #VPDEANYOUR DEPTEMPLOYEE NAMEEMPLOYEE TITLECODE GRADE/STEP MERIT DATEEPR? NO EMPL TYPE …YOUR ACCT #VPDEANYOUR DEPTEMPLOYEE NAMEEMPLOYEE TITLECODE GRADE/STEP MERIT DATEEPR? NO EMPL TYPE

Getting Financial Reference Reports Page 23

Getting Financial Reference Reports Page 24

Getting Financial Reference Reports Organizational Summary by Object Page Most Current Period 2. Your Account Number 3. Get Report

Getting Current Year Account Activity Print this report Page 26

Getting Operating Detail Organizational Summary by Object and Sub-Object Page 27

Getting Operating Detail 3. Get Report Page Current FY 2. Your Account

Current year operating detail Print this report Page 29

Self-Supporting Budget Request Form 1 – Part 1 Page 30 Forecasting Methods

Self-Supporting Budget Request Form 2 Page 31 Forecasting Methods Straight three year average: ($200,000(YR1) + $220,000(YR2) + $215,000(YR3)) / 3 = $211,667 Three year weighted average: ($200,000(YR1) x.5) + ($220,000(YR2) x.3) + ($215,000(YR3) x.2) = $209,000 Current YTD plus previous year actual: $150,000(Current year to date as of end of February) + $45,000(Previous year actual March-June) = $195,000 Current YTD annualized: $150,000 YTD at end of February / 8 months x 12 months = $225,000 Current YTD: Sometimes, revenue/expense occurs in a very compressed time frame so current YTD is a reasonable amount. These are just a few forecasting methods. You may develop one that works well for your particular budget. BACK

Self-Supporting Budget Request Form 1 – Part 2 Page 32

Self-Supporting Budget Request Form 1-Part 2 Page 33

Self-Supporting Budget Request Form 2 Your Best Guesstimate Page 34 Auto Populates

Self-Supporting Budget Request Form 3A Your Best Guesstimate Page 35 Auto Populates

Self-Supporting Budget Request Page 36

Self-Supporting Budget Request Form 2 Page 37 Auto Populates

Notes Page Difference of 25% or >Form 4 – Explanation Same reference letter as in Form 4 Page 38

Self-Supporting Budget Request Form 2 Sign, date and send the forms to your Dean’s Office when completed. Total Revenue must equal Total Expenditures Page 39

Self-Supporting Budget Request 1311 Funds Page 40

Self-Supporting Budget Request Recharge Page 41

Self-Supporting Budget Request We at PBA are here to assist you should you have difficulty completing these forms. However, it is important that each of you complete a budget request form on your own. If you continue to have difficulty, feel free to contact your budget officer for assistance: Vince Johnson Dane Apalategui Christy Sireika Rozann Wood Amanda Evans Peggy Bohn Page 42

Budget Calendar April 15, 2016 – Merit information due in the Contract and Budget Entry(CBE) system. May 6, Signed hard-copy self- supporting budget forms due in Planning, Budget & Analysis, mail stop May 6, Budget Account Lines are frozen in the Contract and Budget Entry system. Page 43

Le Fin This concludes our presentation. If you have any questions or need additional assistance, please call your budget officer. Thank you and Happy Budgeting. Page 44