1. Strategic Budget Management
Denise A. Spangler
College of Education

2. Disclaimers I don’t know you.
I don’t know your department/college/unit.
So…
Adapt what I say to your leadership and management style.
Ask questions about policies, procedures, and norms in your unit!

3. Overview of session Sharing information Advice Dilemma to discuss
More advice
Another dilemma to discuss
The last of my advice
Questions and sharing

4. Change is coming! Current systems through 6-30-18
OneSource beginning (but work with the new system will begin earlier)
Be judicious about how much time you invest in learning current systems.

5. Sources of funding State dollars in your base budget Personnel
Regular, full time faculty and staff
Graduate assistants
Student workers
Operating Expenses (O&E)
Phones, copier lease
Office and instructional supplies, equipment
Travel
Summer school

6. More sources of funding
Indirect cost return
Tuition differential
E-rate
Course/lab fees
Income
Continuing education
Grants
Foundation
Extended campuses (Gwinnett, Griffin…)

7. Things to know… Never sign a contract.
Never give someone your password. If you want to delegate signatory authority, there is a way to do that.
Purchases over $10K require multiple quotes.
Purchases over $25K require a bid process.

8. Relationships Big ideas Financial officer
Frequent 2-way communication
No surprises from either side
Be explicit about your intentions and expectations.
Trust
Financial officer
Regular meetings
Batch signatures
Problem solving approach: How can we make this work?
Faculty (and students and staff)
Early notice
about expenditures (grants, start-up funds, hiring a GA)
about income (grants, income accounts)
Don’t put staff (or students) in the middle.

9. Don’t make assumptions
Based on how it’s always been done or how your predecessor did it
Based on how it is done at another institution
Based on how it is done elsewhere on campus
candidate dinner example, group travel, use of p-card

10. Dilemma #1
Will you give someone else signatory authority? Who? Under what conditions?
Will you allow someone to use your signature stamp? Who? Under what conditions?
Will you authorize expenditures below $X without prior approval?

11. Be proactive
Read what you are signing, including supporting documentation.
Don’t sign anything you don’t understand. Ask questions BEFORE you sign/approve it!
Ask permission rather than forgiveness!
Review and sign status reports or summary budgets monthly.

12. How do you access financial data?*
You should have real time access to all of your budgets.
Learn how to do this.
Do not rely on staff to tell you what you need to know. (Trust but verify.)

13. Dilemma #2
How much information will you share with faculty about the budget?
How often?
In what format and forum?
Will faculty (and students and staff) have input into the expenditure of discretionary funds?

14. Discretionary funds Be strategic about the use of these funds!
Use them to meet unit goals.
Examples:
Extra travel for early career faculty
Hiring a project manager, graduate assistant, editor
Innovative instructional equipment/materials
Research equipment

15. If you have to hire a financial officer…
Put other staff members at and above that level on the search committee (which will mean people outside of your unit).
Use performance tasks. (I’m happy to share the ones we use.)

16. Questions? Ideas to share?