1. ARC 2017: Budget Tracking and Reconciliation Systems
ARC - Budget & Reconciliation - Department Level
June 1, 2017
ARC 2017: Budget Tracking and Reconciliation Systems
By Lani Woods, AA/S
PhONE: (805)
College of engineering, Electrical Engineering Department, Cal Poly
June 1, 2017
Good Morning!
My name is Gina Pierce. I am the budget analyst of the College of Arts, Humanities, and Social Sciences at Humboldt State University.
Thank you for coming.

2. Format of Presentation
ARC - Budget & Reconciliation - Department Level
June 1, 2017
Format of Presentation
Provide information about my budget
Explain system of Excel workbooks I use
Demonstrate Excel workbooks I use
Ending summary
Questions
The format of my presentation is to:
Seek some information from you about your budget with a quick show of hands to a few questions.
Provide some fast facts to you about the budget I manage
Explain the system of Excel workbooks that I developed to help me manage my budget
Demonstrate the Excel workbooks
Provide an ending summary
Answer questions.

3. Information about my budget: My Budget Fast Facts
ARC - Budget & Reconciliation - Department Level
June 1, 2017
Information about my budget: My Budget Fast Facts
Budget Type: Operating Fund, $5 million,
Composition: 96% salary & benefits; 4% OE
Track budget for 22 Tenure/Tenure Track Faculty; 18 full-time and part-time lecturers; 4 staff members; 6 teaching associates, a fluid number of ISA’s and SA’s
I track the budget for all department spending categories (OE); a variety of Foundation (aka University Campus Programs); several Lottery accounts and Corporation accounts.
Budget Type (read slice)
Composition (read slide)
(Add) while we are funded at 93% salary and benefit in our position inventory, our costs are about 95% salary and benefit. The difference between funding and costs has to be covered from our OE (Operating Expense) budget.
Read the rest of the slide

4. Information about my budget: Purpose
ARC - Budget & Reconciliation - Department Level
June 1, 2017
Information about my budget: Purpose
TRACKING:
Initial budget projection
Report budget status to department chair throughout the year
Provide comparison from prior projection
Explain changes to budget – being able to answer WHY?
Provide year-end projection
Explain impact of future change scenarios to budget
RECONCILIATION:
Reconcile actuals
Read the slide

5. Explain Excel Workbook I Developed
ARC - Budget & Reconciliation - Department Level
June 1, 2017
Explain Excel Workbook I Developed
My budget tracking system involves workbook with linked pages for:
Master Payroll
Operating Expense (OE)
Lottery
Budget (income)
College Based and Student Success Fee
Demonstrate how I prepare workbook for reconciliation
Read the slide, then add:
As I show you the workbooks, I will:
Reveal formulas
Explain some basics about the workbooks & worksheets
Show how I incorporate the use of linking to other cells & workbooks
Show how I incorporate the “sumif” formula
And give a brief overview of how the each work independently and then how the linking enables me to have real time updates.
Due to time constraints, I prefer that you keep notes if you have questions and save them for the end of the presentation.

6. Reconciliation
To begin the process for reconciliation I use 4 primary reports.
Revenue & Expense Summary
The Budget Transactions
Labor Cost Distribution
Revenue & Expense Transactions.
The Revenue & Expense Summary Provides us with the bottom line that we eventually want to make sure matches to all the Budget Summary reports we submit to the hire ups.
The budget Transactions shows us all the budget entries for the month.
The Labor Cost Distribution shows us the breakdown of base salary and benefits for each employee. I compare the totals on this report to the totals on the Revenue and Expense Transaction report to assure that salaries and benefits are reported under the correct category. I’ll show you why in a view minutes.
Revenue & Expense Transactions: This report is used for reconciliation.

7. Demonstrate: Budget Workbook
ARC - Budget & Reconciliation - Department Level
June 1, 2017
Demonstrate: Budget Workbook
I manage all department budget commitments, including additional funding from various sources
Projects salary and benefit of all employees by classification
Categories are identified by account #’s.
Supplies and Services are broken down into categories identified by the department:
Lab Equipment, Lab Expense Consumables, Lab upgrades, Alarm, Office Supplies, Supplies & Services
Summary tab for me which is more complex and contains reconciliation
Summary tab for the Dean which is more simple
Summary and budget tab rolls into Summary for the Dean.
DEMO Budget Workbook
(Read slide – then add)
Around this time of year I start building my annual budget for the college.
My Position Inventory contains my base funding
I know the projected course offerings for next year and draft my initial Master Payroll
I meet with my dean and we review the outlook for next year
We set budget for college categories based on that budget outlook
I use the budget per category in my OE Workbook
For demonstration purposes, I am using a smaller scale version of my actual OE workbook. The ideas and concepts I present here are scalable and can be used to manage a much larger budget.
I will now demonstrate my OE Workbook

8. Demonstrate updating budget workbook
Once I have completed reconciling for the month I match the actuals for the month to the projects in my budget workbook.
As you can see the tabs on the budget workbook align with the tabs on the reconciliation workbook
There is a line on each worksheet for each employee according to their classification.
Each line includes their gross amount, their base salary and the benefit costs.
Each worksheet is linked to a summary page
I make sure the totals for the month match the totals on the Revenue & Expense Summary report to make sure that I have not changed some numbers for the previously reconciled months.
The budget tab includes all budget entries for the month
The summary and budget tabs are linked to the Dean’s Report Tab.
I review this report to make sure the totals match the budget and summary page.
The Dean’s Report provides me with quick information regarding our projected balance for the year. I also have columns that include our original projections (column B) and the actuals for the previous year (column D)

9. ARC - Budget & Reconciliation - Department Level
June 1, 2017
Ending Summary
I have provided information to you about my budget and the linked excel workbook I developed to help me manage my budget projections
My Excel workbooks utilize formulas and links to provide updated budget projections to the college Dean
With 96% of my budget in salary & benefit costs, changes to course offering have a direct effect on budget and this is captured in the workbooks I developed.
It imperative that we project our personnel costs early in the FY in order to assure that we are provided adequate funding to cover all the courses we offer throughout the AY.
Cal Poly is on the quarter system so adjustments to courses offered in spring can often change budget projections depending on who we hire to teach additional courses not originally anticipated in the budget.
I have provided a brief demonstration of the Excel workbook I developed to help reconcile and to manage my budget projections.

10. ARC - Budget & Reconciliation - Department Level
June 1, 2017
Thank You & Questions
Thank you for your time; I hope this demonstration has provided you with information and ideas that will make your budgeting easier!
Any questions?