Two-Year Budgeting Workshop

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Presentation transcript:

Two-Year Budgeting Workshop University Fiscal Analysis Brian Moellers and Dan Nichols September 19, 2018 University Budget Office (UBO)

Goals for Upcoming Fiscal Analysis University Fiscal Analysis September 19, 2018 Goals for Upcoming Fiscal Analysis Focus on current year and upcoming biennium Provide more forward-looking information for campus and university leadership End formal fall fiscal analysis submissions Fiscal analysis in spring, leading into and informing: Final budget construction Preview for year-end closing of major changes during the year and effects on upcoming biennium Save time, particularly in the short-session (even) fiscal years

University Fiscal Analysis September 19, 2018 University Fiscal Analysis New Current Base Actual Projections Notes Reserves Interest income All funds budgeting core operating fund groups to align with actual amounts (General Funds, Designated Funds, Restricted Funds, Auxiliary Enterprises) Forecast upcoming biennium (FY20 and FY21) Income and expense

Uses of University Fiscal Analysis September 19, 2018 Uses of University Fiscal Analysis Current New Reporting to and informing university and campus leadership Stewardship of financial resources Serving as the projection model leading into budget presentation Second year of the projections (FY21) will live on during the upcoming biennium

University Fiscal Analysis September 19, 2018 University Fiscal Analysis Continued focus on identification of significant projected changes in income or expense based on what the RC or campus management knows or anticipates. 2018-19 University General Fund Budget: Distributions of Revenues and Expenses Many times such variances cannot be deduced from the financial records, because no transactions have been recorded; yet the local manager is already planning for their impact. Comments accompanying the projected variances Narratives about significant anticipated changes in executive summary

Updated Templates for Fiscal Analysis University Fiscal Analysis September 19, 2018 Updated Templates for Fiscal Analysis

University Fiscal Analysis September 19, 2018 Projections UBO will include in the projection templates sent to the campuses: Most recent FY20 tuition and incidental income projections Most recent legislative information about state appropriations for FY20 and FY21 Preliminary salary change assumptions (not policy) to use for FY20 and FY21 projections FY20 benefit rates, and assumptions for FY21 benefits rates UA tax for FY20, and assumptions to use for FY21 UA Tax

Template for Summary of Planned Uses of General Fund Salary Savings University Fiscal Analysis September 19, 2018 Template for Summary of Planned Uses of General Fund Salary Savings

University Fiscal Analysis September 19, 2018 Questions? Brian Moellers bjmoelle@iu.edu Dan Nichols nichodan@iu.edu University Budget Office https://www.budu.iu.edu/ UBO Resources -- Can the UBO provide more to help with fiscal analysis, including providing any type of financial data points or comparative data that would be helpful?