1. Financial Planning & Analysis

2. Department Overview The principal functions of the Financial Planning & Analysis department: Annual budget Budget-to-Actual performance Short and long range forecasts Board of Trustees, Finance Committee and Budget Review Team materials Budget Amendments Salary Control

3. Budget Development Cycle Two Phases: Macro Budget - Fall Micro Budget - Winter/Spring

4.  Steered by the Budget Review Team  Major Assumptions Tuition and Fees Enrollment Housing Financial Aid Approval of Incremental Expenses New Spending New Capital Requests - Projects > $25,000 Mandated Costs  Presented to Board of the Trustees in December to approve and support any rate increases and the overall budget. Macro Budget

5.  Budget cycle opens to budget administrators to redistribute non-salary budget dollars.  Each division’s budget is based on the prior year budget plus any approved additional dollars such as: Funding for any new programs and initiatives approved during the fall cycle Funding related to mandated costs Increase in salary and benefits due to merit increases and new positions  Each division is given a base budget with a control total. This represents the maximum amount of dollars that may be spent. Micro Budget

6. Budget Application (BAS) Web-based tool used by budget administrators to prepare the budgets for all divisions/departments within the University. Only available from early February through late March Timelines and other communications are sent to users prior to BAS release. Review non-salary operating budget base Modify and redistribute non-salary dollars Budget for Gift, Endowments, Carry Forward and other non-operating accounts. Micro Budget

7.  All divisions must finalize their budget by the designated deadline.  FP&A reviews and summarizes all the budget data.  Final budget package presented to the Board of Trustees in June for approval.  Once budget is approved, it is uploaded into the Lawson System for use during the new fiscal year starting July 1 st. Final Budget

8.  Budgets can be amended throughout the year  Budget Transfers  Temporary Budget Amendments (BAs) Current Fiscal Year Impacts Budget 1  Permanent Budget Transfers (BFs) Adjustment will permanently alter budget base (transfer between departments) Impacts Budget 200 and 1 Budget Transfers

9. Permanent Budget Transfer Form

10.  Purpose  Monitor and control personnel costs  Procedures  Monthly Position Control Reports  People Admin Requisition  Payroll Action Forms (PAFs, EIFs)  New positions  Verify available operating funds prior to posting  Existing positions  Update salary AU-Account distribution  Reconcile budgeted to actual salary Position Control

11.  Budgeting Department provides Control Totals  Systems used for Faculty and Staff Salary Planning:  FSP  Maintained by Faculty Administration  Lakeside  Health Sciences Division  Reconciled by Budgeting  SSP  Maintained by HR  Reconciled by Budgeting Faculty and Staff Salary Planning

12. Financial Planning & Analysis Contact Information  When you need assistance  When you have any questions  When you have suggestions Our contact information is: Name Title Phone E-mail Joseph Filipiak Department Director x5-7671 jfilipi@luc.edujfilipi@luc.edu Mark Pawlowski Senior Financial Analyst x5-7672 mpawlow@luc.edumpawlow@luc.edu Arlene Rodriguez Senior Financial Analyst x5-7674arod6@luc.eduarod6@luc.edu Vivian Xu Senior Financial Analyst x5-8733 hxu4@luc.eduhxu4@luc.edu Catherine Carlson Senior Financial Analyst x5-7835 ccarlson3@luc.educcarlson3@luc.edu