FY2016 Budget Planning Process

1. FY2016 Budget Planning Process September 26 and 29, 2014

2. Agenda • Review of Fall Timeline • Merger of 1st Quarter and Budget Development Processes • Budget Development Submission • Expectations • Required Materials • Hearings • Second Quarter Update

3. Fall Timeline • July & August - Faculty Merits • August 15th - Budget Committee Review • Targeted areas required to submit current year updates and 3 year projections • October – 1st Quarter Confirmation • October - Budget Development Submission • November - Hearings • October & November – Performance Evaluations • November – Administrative Merits

4. Budget Processes Revised • October – 1st Quarter Confirmation • Targeted areas only will receive requests for additional information • Internal analysis by area and Budget independently • Potential follow up by analyst • October - Budget Development Submission • November - Hearings • Includes review of 1st Quarter performance • October & November – Performance Evaluations • November – Administrative Merits

5. Budget Development Submission Budget Materials will be available on the BPIR SharePoint site:

6. Budget Development Submission Materials will be posted on Monday, September 29th Link to the SharePoint site and instructions can be found at the Budget & Planning website http://www.bu.edu/budget/ .

7. Budget Development Submission Required Materials Previous Stage I Budget Detail Template

8. Budget Development Submission Required Materials • Revised Stage I Budget Detail Template Highlights • Fund Center totals by commitment item summaries provided for: • Prior year actuals • Current year budget as of September 30th • Recurring budget for Plan Year 2016 • Input columns included for: • Recurring requested funds • Non-recurring requested funds • Variance explanation

9. Budget Development Submission Required Materials Revised Stage I Budget Detail Template

10. Budget Development Submission • Commitment Item Group Classification (subset only) • 001 Student tuition and fees Revenue • 003 Sponsored programs Revenue • 004 Recovery of F&A costs Revenue • 005 Gifts-operating Revenue • 007 Auxiliary enterprises Revenue • 008 Auxiliary enterprises student aid Revenue • 009 Sales & services Revenue • 010 Contributions used for operations Revenue • 030 Salaries and wages Expense • 031 Faculty and staff benefits Expense • 032 Professional and contracted service Expense • 033 Materials & supplies Expense • 034 Other operating expenses Expense • 035 Financial aid, stipends & other Expense • 036 Other expenses Expense • 037 Interest expense & assessments Expense • 038 Equipment Expense • 039 Facilities Service Request (FSR) Expense • 041 Rent, Lease, Tax & Insurance Expense • 043 Internal Service Request (ISR) Expense • 044 Assessments Expense • Net Transfers Net Transfers

11. Budget Development Submission 001 Student tuition and fees (subset only) 400100 Tuition-Academic Year 400110 Tuition-Academic Year Undergraduate 400111 Tuition-Academic Year Undergraduate Online 400120 Tuition-Academic Year Graduate & Other 400121 Tuition-Academic YearGraduate & Other Online 400200 Tuition-Summer I 400210 Tuition-Summer I Undergraduate 400211 Tuition-Summer I Undergraduate Online 400220 Tuition-Summer I Graduate & Other 400221 Tuition-Summer I Graduate Online 401010Program Fee 401020 Study Abroad Program Fee 401030 Workshop Tuition - Other 401031 Workshop Tuition - Certificate Program 401032 Workshop Tuition - Certificate Program Online 401034Workshop Tuition - Sem/Short Program Online 401200Continuing Student Fee 401210 Applied Music Fee 401220 Laboratory Fee 401230 Clinical Affiliation Fee 401240 Graduate Student Fee

12. Budget Development FM Queries Unrestricted Budget to Actual by FC – GL/CI Detail

13. Budget Development FM Queries Go to the Hierarchy tab Be sure to: Check Hierarchy Active, Select Expansion Level 4, Select Long Text

14. Budget Development FM Queries Results:

15. Budget Development Submission Required Materials

16. Budget Development Submission Required Materials Stage I Budget Summary Template – Schools & Colleges

17. Budget Development Submission Required Materials Stage I Budget Summary Template – Administrative & Operating

18. Budget Development Submission Required Materials • Position Related Requests • Position Management • Review and reconcile Position Management report • Training materials available or review with Position Analyst if preferred. • Adjustments to Salaries & Wages commitment item group • Variance explanation is required • Position number must be in the variance explanation • Each position request must be in a separate row on the detail tab of the template • Requests for new positions should be detailed on a separate template. Total of request should be on the Detailed Budget Template referencing the new position template. • The position template with instructions will be available on the Budget & Planning website http://www.bu.edu/budget/ .

19. Budget Development Submission Required Materials New Positions Template

20. Budget Development Submission • Completed Submissions • Submissions should be returned via e-mail to budgen@bu.edu. • It is not necessary to copy your submission to either the University Provost or the President as the Budget Office provides a summary of all submissions to them as part of the Senior Leadership review. • Since the variance explanation on the form is limited to 50 characters you should include a memo including detailed explanation and justifications for requested funds. • Submissions should include: • Stage I Budget Development template • New Position template if applicable • Memo detailing adjustments to recurring and/or non-recurring budgets as appropriate • Any additional documentation you would like to provide

21. Budget Developmentand Current Year Monitoring • Hearings • Hearings start October 27th and end November 25th • Reporting will be provided to Senior Leadership which will include 1st Quarter performance • Second Quarter • Similar templates will be provided • Position reconciliation may be required in preparation for Stage II • Deadline will be January 26th • Future sessions and focus groups will be scheduled throughout the year as we continue to review processes.

22. Budget Planning Processes 2016 Questions? Please feel free to contact your Budget and/or Position analyst for assistance or guidance with this process.