FY’15 Budget Manual Office of Budget Planning & Analysis December 2013

FY’15 Budget Manual
Office of Budget Planning & Analysis
December 2013
Important Updates/Questions
– Change of deadline for THE Budget Sheet preliminary
submission is Feb 5, 2014
– Question: Would it be valuable for us to rework THE
Budget Sheet to include columns for Operating,
Internally Restricted, Externally Restricted (Grants &
Contracts), Externally Restricted (Gifts), All Funds
within FY 14 budget and actuals?
– Question: Do we want to consider match
income/expenses as Internally Restricted or as part of
Operating?
Why
– Why we’re asking units to project FY15 budgets and
why this early
Key Information & Resources
• THE Budget Sheet Template
– Preliminary submission January 1 Feb 5, 2014
– Final submission April 30, 2014
• Summary of Budget Assumptions
– Purpose: Enable Planning Units to begin FY’15 Financial
Projections with common assumptions
– Preliminary assumptions that may be adjusted as budget
discussions continue and recommendations are made
• Timeline
• Detailed Budget Manual
Revenue
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•
•
SSI
Tuition
Financial Aid
General Fee
Room & Board
Grants and Contracts
Facilities & Administrative cost recovery
Gifts & Endowment Distributions
Subvention/Strategic pool allocation
Expenses
•
•
•
•
•
•
•
Salaries, wages & fringe benefits
Benefits
Supplies, services & capitalized costs
Administrative indirect cost allocations
Provisions for replacement & depreciation
Debit service
Transfers to/from operations
State Appropriations
• SSI allocated to colleges utilizing the State’s methodology for course
completions, degree completions, medical allocation and the
doctoral/research funding
• All Responsibility Centers should budget subsidy at 98% of the State
projections, allowing for 2% conservatism
• State projections should be available early in 2014…stay tuned
• Line-item state appropriations should be budgeted according to unitlevel knowledge of FY’15 state funding
Tuition
Athens Undergraduate Tuition ( guaranteed allocation)
Phase
• Initially, project 3.5% increase over FY14 budgets
I
Phase
• Initial draft of Tuition allocation calculation (Feb 1)
II
Phase
III
• Final draft of Tuition allocation calculation (Mar 1)
Tuition
• Non-guaranteed Undergraduate tuition fees
– These revenues are projected by the colleges based upon their
best estimates of program activity
• Undergraduate Regional Higher Education
(RHE)Tuition & fees
– Regional campuses have the authority to project their
enrollments and credit hours for FY’15
• Graduate tuition & waivers
– Units should estimate net graduate tuition revenue based on
historic trends & known plans
Financial Aid – Athens UG Allocation
Same process as UG Tuition allocation
Phase
• Initially, project 3.5% increase over FY14 budgets
I
Phase
• Initial draft of Tuition allocation calculation (Feb 1)
II
Phase
III
• Final draft of Tuition allocation calculation (Mar 1)
Financial Aid
• Employee Fee Waivers
– Initially project 1.5% increase over FY14 budgets
– Charged in proportion to number of employees as opposed to
actual use
• Unit-controlled Financial Aid
– Projected by units based upon their best estimates of program
activity & impact of rate increases
General Fee
Same process as UG Tuition allocation
Phase
• Initially, project 3.5% increase over FY14 budgets
I
Phase
• Initial draft of Tuition allocation calculation (Feb 1)
II
Phase
III
• Final draft of Tuition allocation calculation (Mar 1)
Room & Board
• Room
– Room rate increases of 3.5% have been forecasted by the longterm Capital Improvement Plan for Housing currently underway
• Board
– Board rate increase of 1.5% as a preliminary planning assumption
Grants & Contracts
• In spite of multi-year activity, projections should be made
only for the upcoming budget year
• Provide projections at a high level by source (state,
federal, local, private)
• Utilize OBIEE and LEO Electronic Research to analyze
grant and contract revenues over the last 5 years
Facilities & Administrative (F&A)
Cost Recovery
• F&A revenue is overhead from grants to cover facility and
admin costs
• Revenue aligned with colleges (NA 040800); RI
Distributions made to departments, centers, PI’s
• Use trends to determine budgets for FY15
Gifts & Endowment distributions
• Gifts
– Project gifts based on historic trends and institutional knowledge
• Endowment distributions
– For the initial phase – forecast a 3% increase over FY’14
– FY’15 Endowment Distribution Report will be published in
February
– Budget plan for the endowment appropriations should include
the entire amount for the “FY2015 Net Spending Allocation”
– Donor gift agreement restrictions apply
Subvention
Undergraduate
Tuition
Subvention
tax 12.5%
• Excludes splits from
regional campuses and
eLearning
Graduate
Tuition
12.5% will be calculated
automatically as THE Budget Sheet
is completed
F&A
Recovery
Expenses – Salaries
Salaries
Grad Assistant
wages
Apply a 1%
add-in over
FY’14 then
project a 2.5%
increase after
the add-in
Project 2.5%
increase
Student
wages
Project 2%
increase in
minimum
wage
Other Payroll
changes
Refer to The
Budget Manual
for details re:
Group III
faculty and
temporary
staff
Expenses – Benefits
OPERS
Use
multiplier of
0.16189
OPERS
LE
Use
multiplier of
0.20289
STRS
Use
multiplier of
0.16189
Health
Insurance
Use rate of
$12,114
7% increase
over current
rate
Supplies, services & capitalized costs
Evaluate using historical trend
TEXT
•
•
•
•
•
•
•
•
Professional services & misc.
Supplies
Travel & Entertainment
Information & communication
Maintenance & repairs
TEXT
TEXT
Other
Cost of goods sold
Capitalized costs
TEXT
Adm. Indirect cost allocations
• Multi-stage process …
Phase
• Initially, project 6.5% increase over FY14 budgets
I
Phase
• Initial draft of Indirect cost allocation calculation (Feb 1)
II
Phase
III
• Final draft of Indirect cost allocation calculation (Mar 1)
Provisions for replacement & depreciation
• Provisions for facility and equipment renewal
– For February 5 deadline for THE Budget Sheet, project amount to
be placed in reserve
– For final versions of THE Budget Sheet, detail will be required,
identifying the particular needs being addressed with this reserve
• Transfers to/from plant fund—project related
– Project transfer of funds to initiate capital projects within the new
fiscal year, already on Board-approved capital plan
Debt Service
• Debt service represents amounts owed for capital
projects and internal loans
• Debt service obligation schedules will be posted
on the BPA website
Transfers to/from operations
• Net increase/decrease to fund balance
– Project any known utilization of a fund balance (“carry-forward”)
• Transfers to/from strategic investment pool
– Please leave blank until BPA finalizes rev/exp. allocations, as well
as subvention support
Other Resources
• Glossary
• Appendices
– Additional information will be provided throughout budget
process as we are able to finalize information and decisions that
are preliminary for now
– Additional tools will be provided as they become available
• THE Budget Sheet
• Budget Packet
• Debt Service Schedule
Questions
– If information is submitted in Feb, can I
change it in the future?
?
• Qualified yes…BPA is more focused on bottom
line requirements, less on specific revenue and
expense details for this first pass
• We are creating a visual from a specific point in time…it
can be adjusted as long as there is a valid explanation
• Please engage in a conversation with BPA
– What are we missing?
– How can we help you?
Questions
Planning Unit BPA Contact List
Groups
Administrative Units
President
Provost (includes Enrollment Management)
V.P. for University Advancement
Intercollegiate Athletics Auxiliary
Student Affairs (including events svcs, campus rec)
V.P. for Research (includes Graduate College)
V.P. for Finance & Administration (includes OIT)
Marching 110
BPA Contact
Kari Resler
Kari Resler
Tim Davies
Chad Mitchell
Tim Davies
Mindy Colburn
Chad Mitchell
Mindy Colburn
Academic Overhead Units
Athena Cinema/Kennedy Museum
Child Development Center
International Student & Faculty Services
Library
Well Works
WOUB Center for Public Media
Mindy Colburn
Kari Resler
Mindy Colburn
Tereza Miranda-Branham
Kari Resler
Mindy Colburn
Responsibility Centers
College of Arts and Sciences
College of Business
College of Communication
College of Education and Human Services
College of Engineering
College of Fine Arts
College of Health Sciences and Professions
E-Learning
Heritage College of Osteopathic Medicine
Honors Tutorial College
International Studies
Regional Campuses
University College
Voinovich School
Tim Davies
Tereza Miranda-Branham
Mindy Colburn
Kari Resler
Tim Davies
Mindy Colburn
Kari Resler
Kari Resler
Tim Davies
Tereza Miranda-Branham
Mindy Colburn
Kari Resler
Tereza Miranda-Branham
Mindy Colburn
Airport Auxiliary (fund type 033)
Dining Hall Auxiliary (fund type 030 and fund 1000)
Parking Auxiliary (fund type 037)
Residential Housing Auxiliary (fund type 039)
University Central Pool
Tina Payne/Natash Huffman
Tina Payne/ Natasha Huffman
Tina Payne/ Natasha Huffman
Kari Resler
Tina Payne/ Natasha Huffman
?
Next Steps