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Position Budgeting Seminar Presented by: The Office of Planning, Budget & Analysis
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Learning Objectives At the conclusion of this lesson you will be able to: describe the fundamental budget practices for an academic environment identify the key concepts and methodology to develop a personnel budget understand and adjust the variables to model a fully funded position differentiate between centrally funded benefits and department-funded benefits utilize the financial tools (Banner/UMDW) to analyze the budget status of a position
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Position Budgeting Definition: Budget for a specific position not a specific person – Banner as a system is built on Organizations – Each Organization has Positions as part of the team – Individuals are placed into the positions Know your funding streams before you hire!
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General Funds – Uses Why Position Budgeting (1 of 5) 77%
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Designated Funds – Uses Why Position Budgeting (2 of 5) 33%
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Auxiliary Funds – Uses Why Position Budgeting (3 of 5) 46%
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Why Position Budgeting (4 of 5) 46% $5,520 $8,796
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Why Position Budgeting (5 of 5) Salaries/Wages & Benefits – University’s #1 expense – General Funds – $109,135,744 – Designated Funds– $ 14,539,351 – Auxiliary Funds – $ 21,196,941 – Restricted Funds – $ 43,623,931 – Plant Funds – $ 630,000 FY10 Budget - $189,425,967 Health Ins-FY05 was $5,520/yr in FY11 will be $8,796/yr Position Budgets versus Account Code Budgets – Using Banner as intended – UM Data Warehouse (UMDW) tools
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The Academic Environment (1 of 5) Employee Classifications – Faculty Tenured, Tenure Track, Adjunct… Fiscal Year, Academic Year, Merits, Markets and Extra Comp… – Research Faculty, Assistants and Staff – Contract Administrators/Contract Professionals On-going, Letter of Appointment, Temporary… – Classified Staff Union, Exempt, High Risk, Low Risk, Temporary… Longevity, Career Ladders, Lump Sum Bonuses, Overtime… – Students Graduate Teaching Assistants (GTA), Graduate Research Assistants (GRA), Non-Work Study, Work Study (Federal or State), Full Time, Less than 6 Credit Hours… – FTE, Pay Plans, Strategic Pay Increases, Stipends, Pooled Positions, Termination Pay…
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Temporary Employees – Pooled Positions – Single Positions – Duration of Employment – Obligation to Pay Benefits Health Insurance Retirement Plans Accrue Annual Vacation and Sick Time Hours The Academic Environment (2 of 5)
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The Academic Environment (3 of 5) Possible Funding Streams – General Funds Base Budget One Time Only (OTO) – Designated Funds – Auxiliary Funds – Restricted Funds Research Gifts – Plant Funds
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The Academic Environment (4 of 5) Program Integrity – Instruction – Research – Public Service – Academic Support – Student Services – Institutional Support – Plant and Maintenance – Scholarships
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FY10 Budgeted General Funds by Program The Academic Environment (5 of 5)
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Model a Fully Funded Position Remember a Model helps to Answer “What if?” Best Guess based on Past Practice, Facts & Assumptions What is the Most Likely versus Worst Case – Known funding streams or “soft” money – For SPABA funds intentionally setting aside a reserve just in case
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Model a Personnel Budget (1 of 4) DeanChairProfessorAdjunct Pool Associate Dean Administrative Associate
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Benefits & Other Payroll Expenses What are Centrally Funded Benefits? – How are they calculated? – The dilemma of base funding vs. OTO funding What are Department (Designated/Auxiliary/Restricted) Funded Benefits? – How are they calculated?
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Model a Personnel Budget (2 of 4)
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Model a Personnel Budget (3 of 4)
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Model a Personnel Budget (4 of 4)
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Break!
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Using UMDW/Banner Individual Positions Numbers – Organizations have assigned series Pooled Position Numbers – First half of the number indicates type of pool – Second half of the number indicates in which department
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Newer pooled position structure that was implemented in FY09 Pooled Position Numbering
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Use the parameters 61, 62, and 63 in account type field to exclude benefits expense UMDW
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UMDW Employee Budget/Actual
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Banner (1 of 9)
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Banner (2 of 9)
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Banner (3 of 9)
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Comments are added for each budget adjustment within this screen, including date, amount of adjustment, index code to/from, and short explanation Banner (4 of 9)
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Banner (5 of 9)
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Banner (6 of 9)
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Banner (7 of 9)
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Banner (8 of 9)
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Banner (9 of 9)
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UMDW Employee Budget/Actual
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RBC – General Funds (1 of 2)
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RBC – General Funds (2 of 2)
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RBC – Des/Aux Funds (1 of 2)
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RBC – Des/Aux Funds (2 of 2)
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Position Budgets – Des/Aux (1 of 2)
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Position Budgets – Des/Aux (2 of 2)
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Position Budgets – General Funds
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Review describe the fundamental budget practices for an academic environment identify the key concepts and methodology to develop a personnel budget understand and adjust the variables to model a fully funded position differentiate between centrally funded benefits and department-funded benefits utilize the financial tools (Banner/UMDW) to analyze the budget status of a position
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Discussion
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Future Events Position Budget Training - Thursday, January 28 th Designated and Auxiliary Fund Operating Plans Training – Thursday, February 4 th Build Designated/Auxiliary Budgets - Thursday, February 11 th or - Thursday, March 11 th General Funds Budget Training - Wednesday, April 21 st or - Thursday, April 22 nd
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