1. Budget Process April 2011 Linda Corva, Assistant Vice President/Controller

2. Agenda Budget Process 1. Discuss key chart field information re: budgets 2. Discuss milestones throughout the Fiscal Year 1. Beginning of the fiscal year 2. End of each quarter 3. Last four months of the fiscal year 4. Month following fiscal year end

3. Key Chart Field Information Re: Budgets Budget Process

4. Key Chartfields Budget Process 1. Budgets are posted to specific funds and accounts: 1. Funds: 1. 10000 – State Appropriation 2. 10500 – Tuition 3. 10600 – Fees and Other Revenue 2. Accounts by Category: 1. 500000 – Personal Services 2. 600000 – Travel 3. 700000 – Operating Supplies & Expenses (OS & E) 4. 800000 - Equipment

5. Milestones Throughout the Fiscal Year Budget Process

6. Milestones Budget Process 1. Beginning of the fiscal year (July) 2. Quarter end (September, December, March, June) 3. Last 4 months of the fiscal year (March - June) 4. Month following fiscal year-end (July)

7. Beginning of the Fiscal Year Budget Process

8. Beginning Milestones Budget Process July 1 – Budget managers run Budget Progress Report and review allocation of amounts by fund, department and category. July 1 – Budget managers begin to spend “current year” money allocated to your department(s) in funds 10000, 10500 and 10600 to cover expenditures in the various categories (Personal Service, Travel, Operating Supplies & Expenses and Equipment). “Prior year” money will be discussed later.

9. Quarterly Budget Process

10. Quarterly Milestones Budget Process Day Following Quarter-End Close – Budget Managers run Budget Progress Report and validate allocation (revenue) and expenditure amounts for each fund, department and category. Budget Managers report any coding errors to the Director of Accounting Services Accounting Services makes requested corrections

11. Quarterly Milestones (continued) Budget Process Week Following Quarter-End Close Budget Managers monitor correction of the coding errors, using the Budget Progress Report Budget Managers sign and deliver Budget Progress Report to Budget Director by 5 th day of the following month Budget Director files budget amendment with Board of Regents, reflecting voluntary / involuntary “adjustments” to budgeted revenue and expenditures

12. Quarterly Milestones (continued) Budget Process Types of Adjustments: Allocation budgets may be adjusted to reflect actual tuition revenues received for the semester, budget cuts, fee budget adjustments, etc. Budget amounts may be moved among funds and departments, per budget manager requests Salary Saving Dollars may be moved to Contingency and/or Special Projects budgets

13. Last 4 Months of the Fiscal Year Budget Process

14. March Milestones Budget Process Procurement Services sends fiscal year-end deadline calendar to all budget managers Departments continue to spend all dollars budgeted to their department(s) Budget Director begins gathering data for next fiscal year’s budget Budget managers and Budget Director complete quarter-end tasks

15. April Milestones Budget Process Accounting Services announces deadlines for last bid opening for departmental purchases State Appropriation allocation amount is announced for next fiscal year budget Budget Director gathers requests for spending any “leftover” departmental budgeted dollars (a/k/a “Year End Spend”) NOTE: CSU may carry forward up to 3% of its tuition revenues to the next fiscal year PBC prioritizes new funding requests for next fiscal year

16. May Milestones Budget Process Accounting Services cuts off department purchases on P-Cards (statement received in June) Summer registration fee deadline arrives – Business office splits summer revenues by fiscal year (part in current fiscal year, part in next fiscal year) PBC prioritizes year-end funding requests Budget Director builds next fiscal year budget in PeopleSoft

17. June Milestones Budget Process Budget managers spend amounts approved by PBC (“year end spend” requests) based on PBC prioritized list Accounting Services closes Travel and Expense module for fiscal year Accounting Services receives and reconciles P-Card statement Budget Director files final budget amendment with Board of Regents Accounting Services reconciles general ledger and revenue amounts Budget managers and Budget Director complete quarter-end tasks

18. Month Following Fiscal Year-End Budget Process

19. July Milestones Budget Process

20. Recap – Q & A Budget Process

21. Agenda - RECAP Budget Process 1. Discuss key chart field information re: budgets Funds – 10000, 10500, 10600 Accounts by Category: 500000 – Personal Services 600000 – Travel 700000 – OS & E 800000 – Equipment

22. Agenda – RECAP (continued) Budget Process 2. Discuss milestones throughout the Fiscal Year Beginning of the fiscal year – review budgets, spend allocation End of each quarter – validate Budget Progress Report info Last four months of the fiscal year – spending cutoff, YE spend Month following fiscal year-end – YE spend, CY spend