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Phase II 2007-2008 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. Introduction, objectives, agenda Review 2007-2008 Main Operating Budget Demonstration

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Presentation Transcript
objectives
Objectives

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

  • Complete your 2007-2008 Main Operating Budget Template
agenda
Agenda
  • Introduction, objectives, agenda
  • Review
  • 2007-2008 Main Operating Budget
  • Demonstration
  • Summary and Questions
review
Review

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

  • Sales & Service and Other Revenue Budget
  • COPSE and Degree & Non-degree Tuition Budget – Main Operating Budget
review1
Review

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

  • DONE  Sales & Service and Other Revenue Budget
  • COPSE and Degree & Non-degree Tuition Budget – Main Operating Budget
2007 2008 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)
2007 2008 main operating budget1
2007-2008 Main Operating Budget

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.
2007 2008 main operating budget2
2007-2008 Main Operating Budget

Predecessor Funds included in this exercise:

110 Unrestricted Operating Funds

11000 General Operating Allocation

12107 Targeted COPSE Projects

12600 Other Allocations & Projects

(recently changed from 120)

120 Internally Restricted

12103 Targeted COPSE ACCESS

12104 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.
2007 2008 main operating budget3
Main Operating Budget Template

Performed in Microsoft Excel

Each Worksheet Tab contains one FOP combination

Staff Benefit and Pay Levy are calculated per FOP

2007-2008 Main Operating Budget
2007 2008 main operating budget4
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)

2007-2008 Main Operating Budget
2007 2008 main operating budget5
Targets based on:

March 31, 2007 baseline (gross)

Plus/Minus 07/08 adjustments

Less previously established 2007/08 Revenue/Expenditure Targets

2007-2008 Main Operating Budget
2007 2008 main operating budget6
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

2007-2008 Main Operating Budget
2007 2008 main operating budget7
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.

2007-2008 Main Operating Budget
2007 2008 main operating budget8
2007-2008 Main Operating Budget

Template Demonstration

2007 2008 main operating budget9
2007-2008 Main Operating Budget

Summary

  • Be as accurate as possible.
  • Better budgeting helps everybody
  • No Budget = No Spending
  • Use information in FAST to help you budget.
2007 2008 main operating budget10
2007-2008 Main Operating Budget

Summary

Deadline – June 25, 2007