1. Finance & Administration
Budget Schedules FY18
Finance & Administration

2. Today’s Topics Wharton Budget Process
Budget Calendar & Planning Parameters
Budget Schedules
F&A Analyst Budget Review
School-Level Review

3. Wharton Budget Process | Overview
March - April
April-June
Analyst Budget Review
School Level Analysis
Develop Budget Framework
Budget Schedules
Hyperion Entry & Review
Presentation of Budget to Dean & Request Approvals
January-March
Framework: based loosely on current year’s budget + new/changing initiatives / Departmental priorities
Schedules: translate framework for consistency across Wharton by categories + documentation of budget components
Hyperion: input of budget and review versus schedules and departmental context via Hyperion Reports
Review: of mechanical and contextual aspects of departmental budgets
Analysis: at School level to verify accuracy of budget, understand changes to upcoming budget versus current year forecast
Present: budget summary and additional request to Dean
Additional analytics: as needed based on presentation
Budget Approvals: communicated for those departments with Funding requests
Trustee Approval: of overall budget

4. FY18 Budget | Training Options
“New” BAs (1st or 2nd budget cycle) -- Monday, January 30th
Experienced BAs -- as needed, schedule a one-on-one with your analyst
“New” BAs (1st or 2nd budget cycle) -- Tuesday, February 21st
All Departments -- Monday, February 20th and Thursday, February 23rd
All Departments -- one-on-one sessions as requested
Potential Topics for Discussion:
Budget Schedules (review/update your department’s schedules together)
Checking/Setting your preferences in Hyperion
Budget Entry (walk through a specific schedule and input together)
Reporting (to assist with meetings with your chairs, directors, or staff)
Budget Review using Hyperion Reports and Excel Schedules
Budget
Schedules
Hyperion: Entry & Reports
One-on- One Sessions

5. Strategic Planning Group | Help us help you!
Contact your analyst with any questions during the budget prep period (now through March 15th)
Sarah Grady
Linda Kiraly Gilbert
Todd Pustilnick
Jim Quinn

6. FY18 Budget | Key Dates Wharton Budget due to Central
Schedules distributed to Departmental Pillar drives
Jan 23 – Feb15
ALL BUDGETS DUE to Strategic Planning Mar 15
Budget Meetings (some Depts)
Mar 22 – Apr 4
Budget Review (w/Dean Garrett)
Apr 24
Wharton Budget due to Central
May 2
Wharton’s Final FY17 Forecast due to Central Apr 13 No formal P2 projections  but your Analyst may reach out with questions
Academic Depts. FY17 Projections: update of
Non-standing Faculty & PhD due Feb 15

7. Preliminary Planning Parameters FY18
Compensation
Standing Faculty: Budget Increase for Salary Pool
3.0%
Staff: Budget Increase for Salary Pool
2.75%
Anticipated Employee Benefit Rates
Full-Time EB Rate
31.7%
Dependent Tuition Rate – Full-Time Only
2.3%
Part-Time EB Rate
9.7%
Other Planning Parameters
Current Expense Increase 0%
Revenue Overhead (Obj-5283)
19.1%
Sponsored Program Indirect Cost Recovery (OH-Obj-5282)
61%

8. Budget Schedules| Overview
What are Budget Schedules?
Excel Spreadsheets organized (primarily) by RCM Category and/or Object code.
Why do we use them?
To provide a framework for the various components your department’s budget planning process
To make budget entry into Hyperion easier by generating an input table
To provide documentation/details of budget for later use
Where do I find them?
Saved in the FY18 Budget folder in your department’s Pillar drive.

9. Budget Schedules| Overview
The budget schedules are:
Standing Faculty Schedule
Non-Standing Faculty Schedule
PhD Schedule
Post Doc Schedule
Temporary Workers, Work Study, TAs, RAs
Staff Schedule
Current Expense Schedule
Other Income (Sales & Service/ Miscellaneous Income)
Transfer Reconciliation Schedule
Additional Funding Request Form
Fund Carry Forward Schedule
Endowment Additions and Liquidations Schedule

10. Standing Faculty Schedule
To Schedule List

11. Standing Faculty Schedule: Salary
Endowment yield information can be pulled from the “B14: Endowment & Gift Fund Analysis” Hyperion report. If your are not the RESP ORG for the endowed chair, contact your analyst for this information.
Current Home Org Faculty names and salaries will be pre-populated. You will need to add any chair, buy-out, or leave of absence information. Potential new faculty should also need to be added with any information you have about their offers (i.e. likelihood and/or timeframe of acceptance).
If you are “buying in” a faculty member from another dept, you must add their name to the schedule and fill in columns L & M. You should not add this faculty member’s base salary to columns F & H.
Hyperion Planning Input table will populate automatically from the entries in the above table. Feel free to adjust the Prog/Cref codes as needed.

12. Standing Faculty Schedule: Ninths
Research Ninths will come pre-populated for all Home Org Faculty. Please make notes to explain any changes to your analyst.
You will need to add any Administrative Ninths paid to Home Org Faculty.
Any additional funds needed beyond the fund can be entered in the blue “Fund” boxes above. Totals from the top tables will flow automatically into the Hyperion table at the bottom of the page.
Please COMMUNICATE with other BAs to confirm agreements between departments!!

13. Standing Faculty Schedule: DARTs
New column for Additional Funding DARTS!!
The schedule will come pre-populated with “normal” DARTS. You will need to enter any one-time additional DARTS or DARTS for new faculty members.
Remember to add the total amount of Post Doc and/or Visiting Faculty DARTs (if applicable) from the applicable schedules.
For DARTs, you will need to budget both a transfer in (4820) from the school, and the spending (5249). For and Restricted Fund DARTs, you should only budget the spending (5249).

14. Standing Faculty Schedule: Other Teaching (Full-Time)
This schedule is used for additional teaching payments (sometimes above normal course load) and/or additional payments as part of an agreement. If related to a specific course, please be sure to list the course information including CUs.
The Hyperion Planning Input table will calculate automatically from above. Feel free to adjust the Prog & Cref codes to make input as simple as possible.

15. Standing Faculty Schedule: Relocation (5057)
This schedule is used for relocation payments to faculty. For example: moving a new faculty member across the country.
Please remember to add relocation payments to the Additional Funding Schedule and enter them in Hyperion using the CREF

16. Non-Standing Faculty Schedule
To Schedule List

17. Non-Standing Faculty Schedule: 5020 and 5011
Schedules will come prepopulated with FY16 Actuals and FY17 Budget totals for each object code. You are asked to add your FY17 Projection and provide explanation of any significant variances between these figures and your FY18 Budget in the blue box below.
You can add any other fund numbers needed in the blue box above and they will automatically populate the Hyperion Planning Input table below.
Please makes sure to include explanation for the payment including courses taught, name of standing faculty being replaced (if applicable), and any other relevant information.

18. Non-Standing Faculty Schedule: Buy Sell Agreements
Please makes sure to include explanation for the payment including courses taught and University/Firm from whom we are buying the faculty time.
Buy Sells should be budgeted under object code 5339 on fund

19. PhD Schedule
To Schedule List

20. PhD Schedule: Stipends (Student Input)
Stipend Amount and # of PhD slots will be populated by F&A. Please check this information when completing the schedule.
A PhD’s status is now described in “Terms” instead of “Years.” Select the object code from which the stipend will be paid from the drop down.
Input to BLUE sections only. All white and orange areas contain formulas that will update automatically.

21. PhD Schedule: Stipends (Hyperion Input)
This input table will fill in automatically based on your entries in the schedule above.
Control Check MUST EQUAL $0 21

22. PhD Schedule: Tuition, Fees, & Health Insurance (Student Input)
PhD Student name, status, and terms will fill in automatically from your input on the Stipend Tab.
The tuition/fees/health insurance object code will flow automatically from the stipend object selected on the stipend tab.

23. PhD Schedule: Tuition & Health Insurance (Hyperion Input)
The input table will automatically fill based on your entries in the above schedule. The transfers from to for PhDs over the allotted slots or beyond their 10th term will calculate automatically.

24. Post Doc Schedule
To Schedule List

25. Post Doc Schedule Reminders: HEALTH charges follow STIPEND payments!
No more than 3%
Reminders:
HEALTH charges follow STIPEND payments!
Information input into the Post Doc Package Summary will flow to the category tables below ( Salary, DARTs, Medical, C/E).
Stipend increases should be no more than 2%.
If you have a Dean’s post doc, do not put more than 50% of the total post doc package on Fund

26. Temporary Workers, Work Study, TAs & RAs Schedule
To Schedule List

27. Temporary Workers, Work Study, TAs & RAs: Temporary Workers
Schedules will come prepopulated with FY16 Actuals, FY17 Budget, and FY17 Trended results. You are asked to provide explanation of any significant variances between these figures and your FY18 Budget in the blue box below.
You may enter either the worker’s names or job titles. If there are multiple workers performing the same job, you can group them together (e.g. “Student Data Assistants (3).”
The “Total Cost” will calculate automatically based on your input of the hourly wage and estimated annual hours.

28. Temporary Workers, Work Study, TAs & RAs: Temporary Workers
“Total Charged to Fund” will calculate automatically as the default fund after all “Payments from other Funds” have been deducted.
Any amount over the previous year’s fund budget will automatically be added to the CREF in the Hyperion Planning Input table and should be included on the Additional Funding Schedule.
Enter fund numbers in the blue boxes, and they will automatically populate the Hyperion Planning Input table below.

29. Temporary Workers, Work Study, TAs & RAs: Work Study
The “Hourly Wage Paid by Dept” will calculate based on your input of the “Hourly Wage” (actual wage received by the student) and “Term” since the department’s cost varies (Academic Year at 50% and Summer at 80%). Beyond this difference, this schedule operates exactly like the Temporary Worker schedule.

30. Temporary Workers, Work Study, TAs & RAs: TAs
The “Total TA Cost” will calculate automatically based on your input of the section and pay rate information.
You do not need to populate each section of the course individually unless each section has unique TA payment arrangements.
If additional funding is required please provide detailed information pertaining to why additional TA’s are needed, ie. new course, another section is being added, larger class size, etc.

31. Temporary Workers, Work Study, TAs & RAs: RAs
Schedule operates very similarly to Temp, WS, and TA schedules. Funds entered in blue boxes will automatically populate the Hyperion Planning Input table below.

32. Staff Schedule: Professional & Support Staff
Schedules are here to HELP you so when you are given these schedules please let us know how we can adjust them to help fit your departments needs. You can change the funds to assist you in entering into Hyperion.
To Schedule List

33. Staff Schedule: Professional & Support Staff
New columns have been added to indicate whether new positions are new for FY18 or were added during the current fiscal year.
Staff names, titles, and base salaries are pre-populated by F&A.
Prepopulated with HR data at the beginning of January. I went back to FY16 Schedules to try and make sure HR wasn’t missing anyone. Here you should A. make sure all of your staff is listed and B. Salaries agree and C. Distributed in the funding/org columns. BRING UP EXCEL Certain situations where it can be confusing New Positions (existing and brand new), Brand new position you need to request it and highlight the line, make a note about why it is being requested and put on the additional funding sheet. If it’s an existing open position being filled or one that was previously held, please state that in the note section (no need to highlight). We do compare this schedule to A. the one we gave to you and B. the one from last year. 2. Partial payments from other orgs, because we roll all of these schedules together at the end of the year and many have the same names we only would like the home org to hold the proposed salary. Give example of 0700 having some salary coming from 0702 and you should note the split and confirm with the other BA. 3. Reclass (done twice a year through HR, if the reclass has been approved in FY15 then adjust the person’s line but make sure you know if they have been “ok’ed” by HR to get the salary increase. If they have not then adjust the line. If the reclass has not been approved then you need to add a line and put the incremental portion that you are requesting, ie. February request in HR. Put a note to explain why you added a reclass line, or why you didn’t and why you made the adjustments. Highlight if it’s a reclass.

34. Staff Schedule: Professional & Support Staff
Please add other fund payments in columns K-X and other org payments (orgs for which you are not responsible) in columns Z-AB . The portion of the staff member’s salary on the Operating Fund will calculate in column Y.
Overwrite “Fund 1,” “Fund 2,” “Operating Fund,” etc. with the actual fund numbers you will be charging and they will automatically flow to Hyperion Planning Input table below.
Add any explanations in the notes column (AC).

35. Staff Schedule: Scenario A
Marie’s Home ORG is 0701 but 50% of her salary is paid by ORG 0702
Marie’s Base Salary will ONLY be populated on the Staff Schedule of her HOME ORG
Marie will need to be manually added to 0702’s Staff Schedule since this is not her HOME ORG

36. Staff Schedule: Possible Scenario B
25% of Marie’s Salary is paid on a 4-Fund

37. Staff Schedule: Completed
Open positions should be budgeted with a 0% increase
The Hyperion input table will automatically populate with the data entered above. New positions requested for FY18 are automatically coded with

38. Staff Schedule: Overtime (5112)
Schedules will come prepopulated with FY16 Actuals, FY17 Budget, and FY17 Trended results.
Enter fund numbers in the blue boxes, and they will automatically populate the Hyperion Planning Input table below.
Any amount over the previous year’s fund budget will automatically be added to the CREF in the Hyperion Planning Input table and should be included on the Additional Funding Schedule with an explanation for the increase.

39. Current Expense Schedule
To Schedule List

40. Current Expense Schedule: 000000, 010701, 4XXXXX, & 6XXXXX
Your allowable fund Current Expense budget is provided here. You can decide how this amount should be allocated between Object Codes, but the total of all Current Expense Object Codes should equal this amount.
Your recommended , 4XXXXX, and 6XXXXX Fund Current Expense budgets are provided here. We added 4XXXXX and 6XXXXX fund information this year to assist you in your budget preparation and increase the accuracy of the overall CE budget.
0-fund – anything above what was given will need to be discussed and requested as additional funding. Any drastic decrease we normally will discuss with you prior to the distribution on the schedules. And please let us know for the current year if there is anything hitting the that will or will not be moved for forecasting purposes , 4XXXXX, and 6XXXXX please let us know why you are changing the budget. BUDGET ALL EXPENSES FOR ALL FUNDS – if you are budgeting into a deficit though we will ask you to fill out the fund carry forward schedule.
If applicable, enter revised , 4XXXXX, and 6XXXXX budgets based on your calculations and provide explanations for differences.

41. Other Income Schedule: Sales & Service and Misc. Other Income
To Schedule List

42. Other Income Schedule: Sales & Service and Misc. Other Income
We will provide information for the funds that have activity. Please explain any difference from the recommended budget in the boxes below.
Remember 2 tabs! We populate these but please if you wish to budget more explain why. Please be careful with the 19.1% on revenue that you must take out through the object code for overhead 5283 on ONLY. Blank Schedules have been given out but if for some reason you didn’t receive one please request one.

43. Budget Concepts | Trending
Trending is a method of calculating the current year’s forecast based on prior year and year-to-date actual activity.
This method determines the percentage of total activity that occurred through a specified period in the prior year, then applies that percentage to this year’s activity as of the same period to project the total current year activity.
This method takes “trends” into account -- it calculates this year’s forecast expecting the same pattern as last year’s activity.
For example, if 90% of the spending occurred in the last three months of the prior year, the calculated forecast for this year will assume the same spending pattern.

44. Budget Concepts | Trending Examples
Example 1: Evenly Distributed Spending
This Year
Actual
Trended
($000's)
Final FY16
YTD
FY16
thru Dec
YTD FY17
Actual thru
Dec
Calculated
FY17 Y/E
Fcst
Non-Academic Salaries
1,200
300 6
800
1,600
Last Year Actual
800 / .50 = 1,600
50%
Example 2: Spending is Back-End Loaded
This Year
Actual
Trended
($000's)
Final FY16
YTD
FY16
thru Dec
YTD FY17
Actual thru
Dec
Calculated
FY17 Y/E
Fcst
Current Expense
3,000
300
400
4,000
Last Year Actual
10%
400 / .10 = 4,000

45. Budget Concepts | Skewed Trending Examples
Example of Skewed Trending due to slight uptick in YTD Spending
Last Year Actual
This Year Actual
This Year Trended
($000's)
Final FY16 Actual
YTD FY16 Actual thru Dec
YTD FY17 Actual thru Dec
Calculated FY17 Y/E Fcst
Current Expense
200 20 60
600
60 / .10 = 600
10%
Example of Skewed Trending due to $0 YTD Spending
Last Year Actual
This Year Actual
This Year Trended
($000's)
Final FY16 Actual
YTD FY16 Actual thru Dec
YTD FY17 Actual thru Dec
Calculated FY17 Y/E Fcst
Grad Student Appointments
160 20 -
0 / = 0
13%

46. Transfer Reconciliation Schedule
To Schedule List

47. Transfer Reconciliation Schedule
Be sure to use the correct sign so that the transfer in or out can be distinguished: Negative () for Transfers In and Positive for Transfers Out.
For all transfers within your org, be sure that both the transfer in and out are listed in this section (once as Transfer In, once as Transfer Out).
Within your org you will need two lines with information, within wharton please check with the corresponding BA to make sure both sides of the transaction are recorded. Also person verifying the transfer should not be you for those within and outside of wharton. You need to have someone else for instance in case you leave so the person that comes after you will know who to reach out to if the transfer is continuing. Then please make sure that the bottom ties to $0.
You will need to fill in the Hyperion Input / Reconciliation Table from the three sections above. Be sure that the control total = $0.

48. Additional Funding Request Form
To Schedule List

49. Additional Funding Request Form
If the “Supporting Detail” column does not provide enough space to explain the request, please send your budget analyst additional information or supporting documents.
Choose the Type of Expense from the Drop Down Menu. Any one time and finite period expenses should be budgeted and spent from , while recurring expenses should be budgeted and spent from (or other designated fund). DARTS should be budgeted and spent in
Need support documentation because when we go to the dean we are a representative of you to support the funding initiative.

50. Items NOT Considered Additional Funding Requests
New Faculty: Base Salary, Standard Ninths and DARTs (at your departmental standard).
Visiting and Adjunct Faculty: Base Salary and DARTs
Staff Reclassification Requests

51. Additional Funding Request Form: 000000, 010703, 010702?
Examples of Fund Additional Funding Requests:
Recurring Requests
TA for a new course
New staff positions
Permanent Increase to Current Expense
Need for increased Work Study
Examples of Fund Additional Funding Requests:
One Time Requests
Faculty Relocation
One Time Computer Purchase
Office Renovation
Special Arrangement for a finite period of time
Examples of Fund Additional Funding Requests:
DARTS (above the normal Dept. Darts Amount)

52. Fund Carry Forward Schedule
To Schedule List

53. Funds Carry Forward Schedule: Overview
The purpose of this schedule is to ensure that all funds will end FY18 at either break-even or surplus.
(Discretionary), 4XXXXX, and 6XXXXX funds that have been budgeted into a deficit position in FY18 should be included to ensure prior year surpluses cover the budgeted deficit.
Hyperion can help you confirm if you have budgeted a fund into a deficit position:
For 4XXXXX and 6XXXXX funds: B14: Endowment & Gift Fund Analysis
For : X46-WHA-RCM Row and Object Detail
Review the RCM Operating (Surplus)/Deficit line to confirm if any funds are in a deficit position

54. Fund Carry Forward Schedule: Estimated Surplus/(Deficit) End of FY17
This is your estimate of the fund’s cash position at the end of the current fiscal year. This figure will automatically update based on your inputs for Column D-F.
This is the amount (if any) you plan to liquidate (only applies to endowments) in the upcoming year. It is entered as a positive number as it is an increase to cash balance (although a decrease to the invested value).
Cells D7-F7 are a reminder of where/how to find the requested inputs .

55. Fund Carry Forward Schedule: FY18 Budgeted Activity
You can pull the information for Columns I-O from the “B14: Endowment & Gift Fund Analysis Report” in Hyperion, after you have entered the budgeted activity to Planning. Enter Inflows (revenue, transfer-ins) as positive amounts and Outflows (expenses, transfer-outs) as negative amounts.
This is the estimate of fund’s current year and cumulative cash position at the end of FY18. The figures will automatically calculate based on your inputs in the proceeding cells.

56. Endowment Additions and Liquidations Schedule
To Schedule List

57. Endowment Additions & Liquidations Schedule: Why complete it?
The AIF reflected in Hyperion does not take into account any additions (gifts to the endowment or reinvestments) or liquidations that occurred within the current year or are expected in a future year.
AIF in Hyperion is calculated based on the invested balance (FMV) as of the previous fiscal year. Example: FY18 AIF is calculated on the balance at the end of FY16.
The Endowment and Liquidation Schedule allows you to input any additions (gifts to the endowment or reinvestments) or liquidations that HAVE occurred or that you EXPECT to occur in the current fiscal year (FY17) or WILL occur in the next year (FY18). Once this information is updated to Hyperion, the AIF with calculate based on the updated FMV.

58. Endowment Additions and Liquidations Schedule
Enter amounts as absolute values to the “Current Fiscal Year” and “FY18” tables . The “Hyperion Planning Input” table will convert the values to the appropriate sign (positive or negative) for Hyperion entry.
To have AIF income accurately calculated, endowment additions, liquidations, and reinvestments that occurred (or are expected to occur) in FY17 should be entered.
Use the Hyperion Planning Input Table to complete the S1 form in Planning. Type the numbers exactly as they appear here, remembering especially to enter the correct sign.
Investment activity is now recorded in Hyperion on an annual instead of monthly basis, so only a FY18 total is needed.

59. Budget Review

60. BA Budget Review

61. F&A Analyst Budget Review | Overview
Budget Schedules
Hyperion v Schedules
Original v Updated
Updates v Prior year
Additional Funding
Understand Purpose of Request
Streamline Description
Fund-level Review
Budgeted Surplus/Deficit
Comparison to Prior Year (Budget & Projection)

62. F&A Analyst Budget Review | Additional Funding
Example of Incomplete Request
Example of Complete Request

63. F&A Analyst Budget Review | Summary
What has changed v. prior year?
Are there any noteworthy trends?
What are reasons for the changes?
How does this budget impact the School –level budget?
Does the budget seem reasonable?
These analyses help us get a complete picture of your department

64. School Level Review | Overview
Budget Summary Presentation
Compilation & Reconciliation
-- staff, faculty counts
--transfers
--additional funding
Calculations & Budget Entries
--salary savings & other offsets
--tuition (MBA, UG, PhD)
--Capital Projects & Allocated Costs
--Fundraising (gift receipts)
Roll Forward Analyses
--FY17 Forecast v FY18 Budget
--understanding areas of change
-Revenue/Expense Categories
--Contributing Divisions (EE, WRDS)
--school-level margin
Category-level Analyses
--Analyzed by Fund
--Drive adjustments/changes to budget