phase ii 2007-2008 main operating budget information session

Phase II2007-2008 Main Operating Budget

Information Session

Objectives

At the end of this session you will be able to:

• Complete your 2007-2008 Main Operating Budget Template

Agenda

1. Introduction, objectives, agenda

2. Review

3. 2007-2008 Main Operating Budget

4. Demonstration

5. Summary and Questions

Review

The April 2007-2008 Budget exercise will be completed in two steps:

1. Sales & Service and Other Revenue Budget

2. COPSE and Degree & Non-degree Tuition Budget – Main Operating Budget

Review

The April 2007-2008 Budget exercise will be completed in two steps:

1. DONE Sales & Service and Other Revenue Budget

2. COPSE and Degree & Non-degree Tuition Budget – Main Operating Budget

2007-2008 Main Operating Budget

PHASE II.

• This is the development of your main operating budget. (Core Budget)

• Final target budget is pending Board approval. (June 19, 2007)


Difference between 110 and 120 Funds:

110 Unrestricted Operating Funds • Budget is determined in part by COPSE and in part by

degree and non-degree tuition.

120 Internally Restricted • Budget is determined by your best estimate of your

revenue sources.


Predecessor Funds included in this exercise:

110 Unrestricted Operating Funds 11000 General Operating Allocation12107 Targeted COPSE Projects12600 Other Allocations & Projects

(recently changed from 120)

120 Internally Restricted 12103 Targeted COPSE ACCESS12104 Targeted Indirect Cost of Res (613)

• If you have a FOP with no baseline, then it is budget only and is provided for your information.


Main Operating Budget Template

• Performed in Microsoft Excel• Each Worksheet Tab contains one FOP

combination• Staff Benefit and Pay Levy are calculated per

FOP


Main Operating Budget Template

• Includes March 31, 2007 actuals, fiscal and baseline budget to help in budgeting process

• Multiple versions• Templates are accessible through your desktop

(Zenworks or through Network Drive)


Targets based on:

• March 31, 2007 baseline (gross)• Plus/Minus 07/08 adjustments• Less previously established 2007/08

Revenue/Expenditure Targets


Reminders:• Remember not to incorporate your April 1

contract or step increases for Baseline funded positions.

• Remember not to move SIP baseline as it is governed by SIP process.

• Check your FTE count to ensure it is reasonable.

• If you have a baseline funded position, you must include an FTE


FOP Combinations

• NSF transactions are frequently caused by invalid Fund/Orgn/Prog combinations being used.

• Please ensure you are using the correct Program to minimize your transactions from being held up.

• Information will be made available on the web shortly to help you verify your FOP combinations.


Template Demonstration


Summary

• Be as accurate as possible.

• Better budgeting helps everybody

• No Budget = No Spending

• Use information in FAST to help you budget.


Summary

Deadline – June 25, 2007


Questions?

phase ii 2007-2008 main operating budget information session

Documents