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Chairs’ Budget Workshop

Chairs’ Budget Workshop. A Presentation by Your Friends in the Budget Office August 10, 2005. Welcome. Welcome Professional Administrators. Deans Management Assistants Department Chairs Administrative Assistants Business Managers. Agenda. Budget Basics Types of Budgets Budget Codes

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Chairs’ Budget Workshop

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  1. Chairs’ Budget Workshop A Presentation by Your Friends in the Budget Office August 10, 2005

  2. Welcome Welcome Professional Administrators • Deans • Management Assistants • Department Chairs • Administrative Assistants • Business Managers

  3. Agenda • Budget Basics • Types of Budgets • Budget Codes • Reports • Forms • Personnel • Small Group Exercises • 3 Common Budget Scenarios • Wisdom from Veteran, Savvy Chairs

  4. What It’s All About The Essential Questions • What do I need to know to survive? • What departments am I responsible for? • What accounts? • How do I find the balances for these accounts? • What do I look for on the reports? • What do I do if something seems wrong or goes wrong?

  5. Budget Office Staff • Chris Rosenbaum • Budget Director x1273 • Ross Borden • Assistant Director x1277 • Stephanie Sackerman • Systems Analyst x4488 • Barry Burbank • Senior Financial Analyst x2575 • Karen Wargo • Budget Analyst x5450 • Janet Hurd • Budget Analyst x1274 • Gay Barzee • Financial Technician x1273

  6. Budget Office Website • Website • http://finad.boisestate.edu/budget/ • A GREAT Resource! • Make it a Fave for Easy Access

  7. What is Budgeting? • Allocating money for particular purposes • A system for going broke methodically • A mathematical confirmation of your suspicions • Managing money for best effect

  8. What is Budgeting Really? Strategic Planning Assessment Budgeting So…What is a Budget for? 1. Today: Support your activities 2. Tomorrow: Make your plans reality

  9. Types of Budgets Types of Budgets 1. Appropriated 2. Local 2. Auxiliary 3. Grants

  10. Types of Budgets 1. Appropriated • General Fund (tax) money from the Legislature • Higher Ed gets 10.5% of $2.2 billion • BSU gets 31% of that ($69.9 million) • ‘Cost of Instruction’ for Resident Students • Certain Student Fees • General Education Fees • Adds another $39.0 million

  11. Types of Budgets 2. Local • Generated Internally • Specific Services to Institutional Entities • Supported by User Charges • E.g. lab fees cover lab costs, not for non-lab related items • Could be purchased outside, but can provided more effectively internally • E.g. mailing services, duplicating services, motor pools, and central stores

  12. Types of Budgets 2. Auxiliary Enterprises • Fees related, maybe not equal to, Cost • Distinguishing Characteristics: • Non-Academic • Expected to be self-supporting • Services focused on individuals & community, not depts of institution • Can get Student Fees or other support • Cannot get Appropriated $ for Operating Costs • Can charge appropriated depts for services • E.g. Intercollegiate Athletics, Student Health, Housing, Morrison Center, Select-A-Seat, etc

  13. Types of Budgets 3. Grants • Funds received for a specific purpose from a specific entity • Considered Short Term • Can span multiple years • Strictly controlled…“strings attached” • “Soft” Funding • University reimbursed for Overhead expenses • Pre-Award: Office of Research Administration • Post-Award: Sponsored Projects Accounting

  14. The Two Primary Codes • 1. Department ID Codes • Unique identifier for every unit, academic & non-academic • 3,000+ different Deptids • e.g. 129A100001 = Electrical Engineering • 2. Account Codes • Categorizes Revenues & Expenses • 1,000+ different Account Codes • e.g. 410500 = Regular Employee Pay

  15. The Deptid Code Chart of Accounts Section/Unit Identifier 1 = Main Campus 2 = BSU West Fund Source A = Appropriated L = Local G = Grant Anatomy of the Department ID B i o l o g y Format: 3-1-6 006 A100001 There are over 100 active Biology DeptIDs A few Appropriated, many Grant, plenty of Locals

  16. The DeptID Code Examples of DeptID Codes 042A100001 Public Policy & Administration 042A100260 Public Policy & Admin Part-Time Faculty 042A100505 Public Policy & Admin Graduate Assistants 042G106003 Alaska Financial Capacity SRF 042G106018 EFC 10 “Base” Grant FY2004 042L101001 Public Affairs Program - Local 042L101011 City Managers & Administrators Training

  17. The DeptID Code What DeptID’s am responsible for? • DeptID’s not always sequential by Dept or College • PeopleSoft contains no College or VP code. • Ergo, cannot run a College only report • A future PeopleSoft enhancement? • Until then, refer to monthly Appropriated Budget Summary report sent by Budget Office to Deans • Won’t show Grants

  18. Account Codes Account Codes • Categorizes Revenues & Expenses • 6 digit, e.g. “503100” • Expenses fall into 3 broad categories: • Personnel Costs (PC), begin with “4” • Operating/Other Expenses (OE), begins “5” • Capital Outlay (CO), begin with “6” • There are hundreds of Account Codes (mostly revenue)

  19. The Account Codes Anatomy of an Account Code 524000 Computer Hardware Repair& Maint 524100 Computer Software Repair & Maint 525000 Other Repair & Maint Services 525500 Freight 526000 Printing & Binding • Begin with “5” so Operating/Other Expenses (4 = PC, 6 = CO) • “524” is a computer hard/software repair related expense • Subcategories denoted by 4th digit

  20. Account Rollup Codes Budget Rollup Categories 410000 Regular Salary 411000 Part-Time/Irregular Salary 412000 Student Salary 420000 Fringe Benefits 500000 Operating/Other Expenses 530000 Travel 600000 Capital Outlay

  21. One More Code… • Program Code • Categorizes Expenditures/Activities • Coded when DeptID created • for consistent reporting among institutions • 10 different Activities • …

  22. Program Types Program 01: Instruction Program 04: Research Program 06: Public Service Program 07: Library Program 08: Student Services Program 09: Physical Plant Program 10: Institutional Support Program 11: Academic Support Program 12: Aux. Enterprises (Athletics) Program 13: Scholarships

  23. The Big Three • Reports • Very quick, more in Hands On • Forms • What form to use when • Personnel • Types, Changes, Fringe, Forms

  24. Reports • PeopleSoft Financials • Printable • Budget History • GL Detail • GL Summary • Budget Status • Chartfields • View Only • Budget Transaction Detail • Budget Overview • BSU Combo Data Values • From the Budget Office • Appropriated Budget Summary • College level • Sent monthly • To Deans, Bus Mgrs, Mgmt Assistants • From Human Resources • Payroll Expense Distribution Report

  25. Reports: How to Run Detailed & easy to follow instructions on the Budget Office website http://finad.boisestate.edu/budget/ • PeopleSoft Financials • Printable • Budget History • GL Detail • GL Summary • Budget Status • Chartfields • View Only • Budget Transaction Detail • Budget Overview • BSU Combo Data Values

  26. Reports Generated by Budget or HR, delivered or available to you • From the Budget Office • Appropriated Budget Summary • College level • Sent monthly • To Deans, Bus Mgrs, Mgmt Assistants • From Human Resources • Payroll Expense Distribution Report

  27. Reports: Which to Use

  28. Budget Action via Forms As You Manage Your Budgets, You May Need to: • Move Budget Around • Redirect Savings • Request Additional Budget • Create New / Delete Old Departments • Change How Positions are Paid

  29. Budget Forms • Move Budget Around • Budget Transfer • Redirect Savings • Request Additional Budget • Create New / Delete Old Departments • Change how positions are paid

  30. Budget Forms Budget Transfer • Transfer budget from one Account and/or DeptID to another or others • Appropriated funds only • Requires Dean and Budget Office approval • Permanent or One-Time

  31. Budget Forms • Move Budget Around • Budget Transfer • Redirect Savings • Request for Use of Institutional Salary Savings • Request Additional Budget • Create New / Delete Old Departments • Change how positions are paid

  32. Budget Forms Request for Use of Institutional Salary Savings • “Institutional” refers to Reg Salary & Fringe… considered University, not the Dept, funds • Requires Dean and Provost/VP approval • Affects specific positions • Permanent or One-Time

  33. Budget Forms • Move Budget Around • Budget Transfer • Redirect Savings • Request for Use of Institutional Salary Savings • Request Additional Budget • Supplemental Funding Request • Create New/Delete Old Depts • Change how positions are paid

  34. Budget Forms Supplemental Funding Request • Request for additional funding • Meant to address ‘extraordinary’ challenges or opportunities • Can you use your Carry- forward instead? • Requires VP Finance approval

  35. Budget Forms • Move Budget Around • Budget Transfer • Redirect Savings • Request for Use of Institutional Salary Savings • Request Additional Budget • Supplemental Funding Request • Create New/Delete Old Depts • DeptID Request/Maintenance • Change how positions are paid

  36. Budget Forms DeptID Request/Maintenance • Establish, Change or Deactivate DeptIDs • Sets up new Deptid on PeopleSoft and other financial systems • Must specify funding source • Accounts at Rollup Level • Appropriated: Budget Office • Local: Admin Accounting • Grant: Office of Research Admin

  37. Budget Forms • Move Budget • Budget Transfer • Redirect Savings • Request for Use of Inst. Salary Savings • Ask to Additional Budget • Supplemental Funding Request • Create New / Delete Old Departments • Dept. ID Request/Maintenance • Change how positions are paid • E-EAF or BPAR

  38. Forms: Which to Use

  39. Personnel • Types of Employees • Adding/Changing Positions • Fringe Benefit Cost Calcs • Forms • Employee Action Form (E-EAF) • Budget/Position Action Request (BPAR)

  40. Types of Employees • 1. Faculty and Teaching Staff • Prof, Assoc Prof, Asst Prof, Instructor • Adjuncts, Teachers • 2. Administrative/Executive • President, VP, Dean, Director • Associate/Assistant VP/Dean/Director • 2. Managerial/Professional • Accountant, Personnel Manager, Counselor, Business Manager, System Analyst, Coach, Lawyer, etc. • 3. Classified • Support Staff • Must comply with State Merit System

  41. Benefit Eligibility What Employees are Benefit-Eligible? • Those Who Work: • Half-time or More • For at least 5 consecutive months • Faculty appointed semester-by-semester are not benefit-eligible

  42. Fringe Benefits What are the Fringe Benefits? • Cost Varies with Salary • Workers’ Comp • Unemployment Insurance • Social Security • Medicare • Life Insurance • Employer Retirement Contribution • Retirement Sick Leave • State Div. Of Human Resources (classified only) • Fixed Cost per Position • Health Insurance (Medical, Dental, Mental)

  43. Fringe Benefits Calc How to Calculate Fringe Benefit Costs • Simple formula • % varies by employee type • Regular • Facilities, Trades, Custodial • Part-Time/Temp/Irregular • Student • http://finad.boisestate.edu/budget/ • E.g. $40,000 x .2174 + $7,125 = $15,821 • (total benefits here are 39.6% of Annual Salary)

  44. Personnel Forms • 1. Employee Action • 2. Budget / Position Action Request • Used for All Personnel Actions, e.g. • Create or Delete Positions • Hire or Separate Employees • Change Hours (FTE), Pay, Funding Source, Title, etc.

  45. Personnel Forms • Employee Action Form • For Faculty and Professional Employees Only • Entirely electronic, on-line since April 2005 • Complete documentation on-line • Hard copy no longer accepted • Needs to be filed for any Employee Action • Phase II may include Classified

  46. Personnel Forms • Budget/Position Action Request • Request a New Position • Change an Existing Position • Must specify Fund Source Details • New Money Needed? • How much? • Hard Copy only

  47. Budget Lingo Budget. —All Funds budget. —Department. —Program. —Account. —Annual Budget Planning Process. —Types of Money. —Appropriated. —Local. —Budgeted Local. —Auxiliary. —Grant. —Accounts. —Expenditure Object. —Subobject. —Budget Rollup. —Regular Salary. —Irregular Salary. —Student Salary. —Fringe Benefits: —OE (Operating or Other Expenses). —Travel. —Capital Outlay. —Capital Project. —Encumbrance. —Faculty. Teaching Staff. —Official Faculty. —Executive/Administrative. —Managerial/Professional. —Classified. —Affirmative Action. —JDQ. —ADA. —B/PAR. —SBOE. —Central Funds. —E-EAF. —Backdate. —Payroll & Personnel Form. —Fringe Benefits. —Budget Transfer. —Request for Use of Institutional Salary Savings. —Supplemental Funding Request. —Department ID Request/Maintenance Form. —Letter of Appointment. —PeopleSoft. —Chartfield. —Controlled Budget Budgets. —Journal Entry. —Journal Number. —Allow Overdraft. —Budget History Report. —GL Detail Report. —GL Summary Report. —Budget Status Report. —Chartfields Report. —Budget Transaction Detail Report. —Budget Overview. —Combo Data Values. —Appropriated Budget Summary Report. —Budget Detail Report. —HR. —Expense Distribution Report. —Available Spending Authority. —Carryforward. —Encumbered. —Revenue. —Expense. —Net. —Fiscal Year. —Calendar Year. —Holdback. —Fund Balance. —Insufficient Funds. —Over Budget. —Object Code. —Original Budget. —Permanent Budget Transfer. —One-Time Budget Transfer. —Project. —Revenue Estimate. —Spending Authority Budget. —Remaining Budget. —Restricted Budget. —Unrestricted Budget. —FTE. —A-260. —A-505. —A-506. —A-507. —PCN. —Purchase Order. —STARS. —

  48. Budget Lingo GLOSSARY @ Budget Office website: http://finad.boisestate.edu/budget/

  49. Part II: Scenarios Common Situations & Strategies to bring this all together… • Scenario 1: Reports • Scenario 2: Forms • Scenario 3: Personnel • Led by Karen Wargo, Budget Analyst

  50. WRAP UP A Presentation by Your Friends in the Budget Office August 10, 2005

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