Basic Guide to Fiscal Management

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Presentation transcript:

Basic Guide to Fiscal Management Alan Lacy Office of the Provost July 13, 2017

Tips for Fiscal Management Overview Funding Sources Budgetary Planning Tips for Fiscal Management

FYI - Knowing your Acronyms TLA AIF SBC PE IC PERM TEMP FY AVP FCR CYA OMG TMI

Funding Sources General Revenue Accounts Foundation Accounts Operating Personnel Annual Allocations Incentivized Programs Foundation Accounts Endowed Accounts (Restricted) General Accounts (Unrestricted) Agency Accounts Indirects from Grants

General Revenue Operating Budgets (equipment, commodities, travel, contractual, auto, telecom) Personnel Faculty and Staff Salaries Variance (Permanent and Temporary) Annual Provost Allocations Instructional Capacity Summer Salaries Provost Enhancements Other Incentivized Programs (ERIP, FCR)

Other Funding Sources Foundation Accounts Agency Accounts Endowed (Restricted) General (Unrestricted) Agency Accounts Indirect funds from grants

Budgetary Planning Budget Requests Tenure Track Positions from AIF Provost Enhancements (PE) Permanent Requests (PERM) Strategic Budgeted Carryover (SBC) Flows from Unit to College to Provost

FY18 Budget Planning REVOLUTIONARY CONCEPT – THE STATE HAS A BUDGET!! Keep strong and stable enrollments Recruit, recruit, recruit Retain, retain, retain $3.7 million funded for Provost Enhancement (PE). $707K from Provost budget $3.0 million from AIF-SBC

FY18 Planning (con.) Total FY18 Summer Allocation is $2,785,000 Base allocation $1,855,000 Supplemental Allocation $930,000 Instructional Capacity Allocations Base Allocation - $4.78 million Supplemental Allocation - $TBD 47 new searches/4 re-authorizations Emphasis on Agency Accounts

Tips for Fiscal Management Understand your budget. Use shadow spreadsheets. Consult appropriately. Make appropriate requests. Be a good steward of resources. Think about setting the precedent. Don’t be afraid to ask for help.

Uncertain Future – Stay Steady Understand that some uncertainty is the norm. Minimize angst in your unit. Advocate for your unit, but see the greater whole. Make short term and long term strategic decisions that benefit students.