1. F&A Meeting: FY19 Budget Process Open House
December 19, 2017

2. FY19 Budget: Guiding Principles
Avoid Tragedy of the Commons
The Tragedy of the Commons is an economic theory of a situation within a shared-resource system where individual users, acting independently according to their own self-interest, behave contrary to the common good of all users by depleting or spoiling that resource through their collective action.
Build a coordinated plan that lets us invest in growing areas while supporting needed functions and programs.
Building a plan that is funded rather planning a fund
Not a base+ exercise - we have a structural deficit that we need to alleviate
Detailed, fact-supported plan of what is realistically needed to operate
Spend “restricted” funds first. How can you reorganize to spend less? What can you do less of with minor impact?
Rebuild the balance sheet
Must produce an operating surplus to rebuild cash reserves
After restricted funds and endowment, we have negative cash growth
Your thoughts on these points?

3. OBFP Materials Being Developed
New Processes
Position Management/VRC
Changes to account structure
Use of departments, accounts & funds
Timeline of Process
System office Budget & Tuition by 3/15/18
Templates and Instructions
Detailed review of prior year spending/FY18 projection
Budget by fund, account and positions
Glossary of common terms
Policies
Use of GOF last, use of salary-savings and carry-forward, budget transfers/amendments, funding startups, grant buyouts, etc.
Your feedback on these areas?