millennium budget training
DESCRIPTION
Millennium Budget Training. Wilfrid Laurier University Financial Resources 2012/13 Budget. Kick-off Presentation January 11 th , 2012. Link to Kick-off Presentation:. Found on the Finance & Administration home page. http://www.wlu.ca/homepage.php?grp_id=59. - PowerPoint PPT PresentationTRANSCRIPT
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Millennium Budget Training
Wilfrid Laurier UniversityFinancial Resources
2012/13 Budget
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Link to Kick-off Presentation:
Found on the Finance & Administration home pagehttp://www.wlu.ca/homepage.php?grp_id=59
Kick-off PresentationJanuary 11th, 2012
To view & listen to the recorded presentation. Mr. J. Butler gives a detailed explanation on budgetary assumptions for the upcoming 12/13 budget year.
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Training Agenda
• Assumptions
• Budget Schedule
• Budget Process/Guidelines
• Strategic Investment Fund
• Account Structure
• Online Submission Process & Demo
• System Checks
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Assumptions
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• Enrolment Growth:
Note: Headcount figures based on most recent enrolment planning submission to MTCU
• Tuition Fees: 4.5% rate increase each year as per current policy
• Government Grants:Full funding for enrolment growth (11/12 base year)
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12/13 Budget Scenario
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POLICY OPTIONS:1) Budget cut this year (2012/13) of 2.7% or2) Defer budget cut until next year (2013/14) of 6.7% Please refer to Mr. J. Butler’s comments
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Steps for Budget Managers
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1) Budget Adjustments - Complete by February 3rd, 2012
a) Review Position budgets & make necessary adjustments
b) Review remaining accounts & make necessary adjustments
c) All Budget Adjustments (BUDAs) MUST balance to zero
2) Enter Strategic Investment Fund (SIFR) requests
3) Complete Strategic Investment Fund Proposal form – Submit by February 10th, 2012
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Position Budgets
• Review position budgets for Faculty, WLUSA, MGMT, EXEMPT
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o Verify existing employee positionsVerify existing employee positionso Add missing employee positionsAdd missing employee positionso Reverse incorrect employee positionsReverse incorrect employee positions
Note: Note: Balance in unallocated salary account (Balance in unallocated salary account (630999630999) cannot ) cannot
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Position Budgets
• WLUFA
– Reference Salary (11/12)
– LTA's base amounts remain in faculty and non-base in VPA; LTAs that are expiring will not receive an increase
• WLUSA & Managers
– Reference Salary less 2/12 of most recent increase
• Phase 3Adjustments
– Non-Position based wages accounts will be adjusted based on contracts and/or rates agreed upon by Senior Management
– Known employee contract increases will be added to positions– Increases that are only projections will be estimated and not added to
the positions until contracts are finalized (set up in contingency)
– Benefits will be estimated and adjusted
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Position ReportsPosition Reports
1.1. The Banner Report (The Banner Report (PWRPOSNPWRPOSN) is available which ) is available which provides a list of current positions and provides a list of current positions and reference salaryreference salary in in payrollpayroll– Reference salary current rateReference salary current rate– Budgeted Salary in Phase 1 is cost for last fiscal yearBudgeted Salary in Phase 1 is cost for last fiscal year
• (May 1, 2011 to April 30, 2012)(May 1, 2011 to April 30, 2012)
(See next slide on “How to run “(See next slide on “How to run “PWRPOSNPWRPOSN” in Banner)” in Banner)
2.2. Millennium’s Financial Reporting module has useful Millennium’s Financial Reporting module has useful ““Current Year – Budget by PositionCurrent Year – Budget by Position” report option” report option
NOTE: NOTE: These 2 reports should be compared to ensure your positions These 2 reports should be compared to ensure your positions are are budgeted accurately for 2012/13budgeted accurately for 2012/13
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Other Salary IssuesOther Salary Issues
• Special Voluntary Exit Plan (SVEP)Special Voluntary Exit Plan (SVEP)– Faculty are charged to their existing departmentFaculty are charged to their existing department– Other staff are budgeted centrally by FinanceOther staff are budgeted centrally by Finance
• Phased in Retirement Option (PIRO)Phased in Retirement Option (PIRO)– Faculties will hold the usual salary over the 3 years and Faculties will hold the usual salary over the 3 years and
have to cope with the time-variant nature of the actual have to cope with the time-variant nature of the actual paymentspayments
• Benefit expenses for early retireesBenefit expenses for early retirees– remains in the faculty budget until the member reaches age remains in the faculty budget until the member reaches age
65, at which time they are move to the general retiree 65, at which time they are move to the general retiree account.account.
– Other staff are budgeted centrally by FinanceOther staff are budgeted centrally by Finance
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Other Salary IssuesOther Salary Issues
• Faculty PositionsFaculty Positions– Upon RetirementUpon Retirement• Full salary will be allocated back to VP budgetFull salary will be allocated back to VP budget
• Starting salary of replacement will be allocated back to Starting salary of replacement will be allocated back to the faculty (at VPA’s discretion)the faculty (at VPA’s discretion)
– ResignationsResignations• Full salary will remain in the faculty budget to allow Full salary will remain in the faculty budget to allow
department to hire at same level (at VPA’s discretion)department to hire at same level (at VPA’s discretion)
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Budget Adjustments (BUDAs)
What is a BUDA?• A BUDA moves budget funds from one budget
line to another (ex. Office supplies to Training)
• Funds may be moved between salary and non-salary accounts
• BUDAs can be used for anticipated changes in in projected activity for the next budget year
• BUDA entries MUST balance to zero!
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BUDA Example #1Expense Accounts only
• Student wage expense requires an additional $5k of funding (inadequate funds currently exist)
• Move $5k from office supplies (as less is required for this expense item
BUDA Adjustment:
+$5,000 student wage, -$5,000 office supplies = $0
An increase in expense must be offset by another account item to ensure overall budget amount remains the same
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BUDA Example #2Expense & Revenue Accounts
• Student wage expense requires an additional $5k of funding (inadequate funds currently exist)
• Increase budgeted revenue from application fees by $5k (based on expectations in 2012/13)
BUDA Adjustment:
+ $5k to application revenue, + $5k to student wage expense = $0
• Positive number in both cases
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Target Categories
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Description Dev Code Description
Strategic Investment Fund Request
SIFR Amount of funds requested as part of Strategic Investment Fund proposal coded to appropriate orgn and acct
Budget Adjustment BUDA Moving funds between accounts and/or departments; adding in additional revenue with offsetting expenses
Notes:• Contact Gary Lambert on all fee rate changes and new fees to ensure they are included in the board approval package
• SIF submissions in Millennium must reconcile with requested amounts on SIF application forms
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Strategic Investment Fund
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• Funded in 12/13 with inflationary allocation rather than reallocation from departments
• SIF Proposal forms are available online
• Amount available for distribution is not determined at this time
• Departments can apply for funds based on developed criteria
• Applications will be reviewed by SIF sub-committee prior to President’s Group meeting
• Complete form and submit to VP by February 10th, 2012
• Approved SIF forms submitted to Financial Resources by February 17th, 2012 ([email protected])
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Strategic Investment Fund
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• Based on criteria developed by PG & VPAC:1) Explain proposal, with anticipated outcomes and financial
details2) Promotes & adheres to Values, Vision, Mission and Guiding
Principles of the University & advances the 2010-2015 Academic Plan
3) Improves the organization’s efficiency & effectiveness or is a strategic enhancement to Laurier
4) Clear implementation plan
http://www.wlu.ca/homepage.php?grp_id=1165
Link to SIF Forms:Found on the Financial Resources home page
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WLU Account Structure
• FUND– Highest level – 1100 operating fund, 3400 ancillary fund
• ORGN (organization) – department level– Six digits, last four digits of orgn is index #
• ACCT (account) – account level– i.e. WLUSA Salaries, Printing & General Supplies
• PROG (program)– Additional level, only important for entry purposes
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Logging In to Millennium
• https://fina.wlu.ca/FAST• Banner ID and Password
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If Banner Password has Expired
1. If unused / unchanged, Banner password will expire in 90 days, or if you have 3 unsuccessful log-in attempts, Banner will lock your password
2. E-mail [email protected] to obtain a temporary password3. Log into Banner
a. Link is: https://isis.wlu.ca/b. Click on 2nd item on list:
Internet Native Banner (INB) for Windows PCs (Internet Explorer must be used)
c. At the log-in screen type:• Username: Banner/Oracle username: usually first letter of first name +
last name. For example: John Smith would be JSMITH• Password: type in temporary password (provided in 2 above)• Database: leave this blank• Click on “Connect”
d. Banner will display a message “Your password has expired”, because the temporary password should only be used once (see 3e)
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If Banner Password has Expired
3. Log into Banner (continued)e. Once in Banner, you will be prompted to change your password
• Oracle User ID: example: JSMITH• Oracle Password: use temporary password provided by [email protected]• New Oracle Password: Type in a new password that you will remember• Verify Password: Type in your new password again• Press the “save” button
f. You should now be in Banner, and your password has been successfully changed. To log out of Banner, close the browser
4. Log into Millenniuma. Link is: https://fina.wlu.ca/FASTb. At the log-in screen type
• User ID: example: JSMITH• Password: the New password created in step 3.d above• Press the “Go”• You should now be in Millennium
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Logging Into Millennium
• Click on the “Budget and Forecasting” tab
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Budget Module
• Budget entry screen• Change Fiscal Year to 2012/2013 using drop down list• Do not change “Company” or “Chart”• Click “Submit” Button
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Development Tab
• Now you will see a tab at the top called “Development” with two drop down items– Development with Actuals
– Development Entry
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Development Tab
• Or you can click on the launch screen
Click on the lines beside the red box
Development with Actuals
Development Entry
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Two Ways to Make Adjustments
1. Development with Actuals (“drill down” method)• Shows actual historical data & budget phase amounts • Summary screen shows entries for accounts that you
filtered on• Drills down from Fund -> Org -> Account
2. Development Entry• Summary screen shows all entries made to all accounts
(subject to filters used)
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Development with Actuals Making Adjustments
• Development Development with Actuals• Can filter by Fund, Orgn, Acct (# or name)• Click on magnifying glass to do a search• Use brush to clear all filters before next search
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1.
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• To drill down, click on a number under the “Code” column – This is the Fund Roll-up level
Development with Actuals
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• To drill down, click on a number under the “Code” column– This is the Fund level
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Development with Actuals
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• To drill down, click on a number under the “Code” column– This is the Orgn level
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Development with Actuals
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• This is the Acct level – most detailed level in general ledger
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Development with Actuals
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• If you can’t remember which Fund and Orgn you drilled into, click on the “balloon”
• The “balloon” shows you the accounting string (see next slide)
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Development with Actuals
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• The balloon shows you the accounting string
• In previous screens, we drilled into Fund 1100, Orgn 538077
• Click on the balloon again to hide the “Search criteria”
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Development with Actuals
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• To make adjustments, drill into an amount in the far right column (the “open phase”).
• This column may be Phase 1, Phase 2 or Phase 3
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Development with Actuals
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• To make a new entry click on plus sign
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Development with Actuals
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• At the bottom of this page it shows the entries already made to the selected account– Required fields have a red astric (*) beside it. – Note: the Fund, Orgn, Acct, and Prog fields automatically populate
when using the drill down method to make adjustments
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Development with Actuals
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• FUND, ORGN, ACCT, PROG all mandatory fields• 200 characters for description (mandatory), Spreading = “65” (only option)• Enter appropriate DevCty (“BUDA”, “SIFR” etc.)• Budget Type is a mandatory field (BD02 is only option)• “FTE” and “Metric Code 1” fields to be left blank• Put the desired amount in the “Amount” and the total will automatically populate
(leave the “Enter 1” box with “1.00” – pre-populated)• Click “Save”, “Save & Add New” or “Cancel”
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Development with Actuals
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• Once an entry is saved it confirms to close or duplicate or delete it.
• You can also see your entry saved at the bottom.
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Development with Actuals
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• This page shows a summary of entries made to the selected account– In this example, the initial budget has been loaded (Status = green button = approved)– And one budget adjustment was completed (Status = yellow button = pending)
• All adjustments made by budget users show up as Pending (yellow button) and await approval from finance
• To return to your budget, click “Return to Previous Page”
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Development with Actuals
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• Development Development Entry• Click on Execute Report to see all adjustments to your
fund/orgn security• Or filter by any criteria listed below
– Note: if you are only interested in seeing entries made by budget users, choose “Pending” under the “Status” filter
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Development Entry Making Adjustments
2.
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• This page shows the entries made to all Orgn / Accts
• To make a new entry click on plus sign
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Development Entry
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• Budget entry screen
• Required fields are marked with a *
• FUND, ORGN, ACCT, PROG all mandatory fields (look unknown FUND or PROG in detail below)
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Development Entry
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• 200 characters for description (mandatory), Spreading = “65” (only option)
• Enter appropriate DevCty (“BUDA”, “SIFR”, etc.)• Budget Type is a mandatory field (BD02 is only option)• “FTE” and “Metric Code 1” fields to be left blank• Put the desired amount in the “Amount” and the total will automatically
populate (leave the “Enter 1” box with “1.00” – pre-populated)• Click “Save”, “Save & Add New” or “Cancel”
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Development Entry
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• This screen summarizes all adjustments to all Orgn / Accts (subject to filters previously applied)
• All new adjustments show up as Pending (yellow button) and await approval from finance
• If you would like to delete the entry click on “X”– Note: once you click “Close” you will be able to still edit the entries later
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Development Entry
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• You can attach documents to adjustments, by clicking the paper clip
Browse to find the path for the document you want to attach to the entry
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Development Entry
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Generating Excel Spreadsheet
• Excel button will generate an Excel spreadsheet
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Budget Building with Excel
• Example: add 2 new columns at the end of the spreadsheet (far right)– Desired Budget
• Shows what you want your budget to look like at each account line
– Adjustment• Add a Formula: “Desired Budget” less: “Phase 1” (or any open
phase)
• Result shows adjustment required in Millennium Budget to get to “Desired Budget” amount
• Add up all amounts in “Adjustment” column to ensure all budget adjustments = $0
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Am I Done?
• Check that BUDAs balance to Zeroo Select Development -> Development Entry o Dev Category = “BUDA”o Execute Report
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BUDAs balance to Zero
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Am I Done?
• Check that SIFR balance to SIF Reporto Select Development -> Development Entry o Dev Category = “SIFR”o Execute Report
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Balance SIFR to “Strategic Investment Fund” request forms
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Logging OutLogging Out
• Click on the “logout” button Click on the “logout” button (located in the upper right hand corner)(located in the upper right hand corner)
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Additional Information
• Millennium can be accessed from home (any computer with a high-speed internet connection)
• Download budget to Excel to aid with budget building. Excel will allow you to add extra columns / manipulate data before adjusting in Millennium Budget Module
• Excel is treated like a pop-up. Turn off all pop-up blockers
• Budget adjustments to be rounded to the nearest dollar
• Program times out after 25 minutes
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Help!Help!
• General Questions:General Questions: Tara Zwep (x.2795), Sandra Davidson (x.4987), Gary Tara Zwep (x.2795), Sandra Davidson (x.4987), Gary Lambert (x.6268), Ed Linder (x.6451)Lambert (x.6268), Ed Linder (x.6451)
• Account Set-upAccount Set-up: Ed Linder: Ed Linder
• Assistance Entering DataAssistance Entering Data: : Tara Zwep, Sandra DavidsonTara Zwep, Sandra Davidson
• Questions regarding Millennium Budget navigation, Questions regarding Millennium Budget navigation, training and/or processing: training and/or processing: Tara ZwepTara Zwep
• Cannot run PWRPOSN (HR/Payroll Permissions):Cannot run PWRPOSN (HR/Payroll Permissions): Gregory Gregory Brown (x.3483)Brown (x.3483)
• Unable to access the Millennium Budget Module: Unable to access the Millennium Budget Module: Tara ZwepTara Zwep
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