Our Step on the Path Forward FY2020 Budget Process & Timeline Office of Financial Planning & Budget November 12, 2018

Building the Expense Budget The FY2020 Expense Budget will be built based on projected tuition revenue & other income minus committed operating expenses. The remaining balance is the amount available to further Rider’s Mission. Projected Revenue Committed Operating Expenses Invest in Rider When expenses exceed revenues Rider must make decisions on how to pay for strategic investments that further its mission. 2/19/2019

The Budget Process The process of preparing the FY2020 Budget Plan will begin by breaking out expenses into two new categories: Strategic Expenses & Contractual Increases. The Office of Financial Planning & Budget will support the submission process providing templates and consolidating requests. Colleges & Divisions are responsible for working collaboratively within units to identify and prioritize Strategic and Contractual Increases. 2/19/2019

Budget Process Flow Open house Budget process training Training sessions for Axiom begin Units download expense template Axiom plan files distributed Budget plan submitted for Board approval Budget process closes Budget plan uploaded to Banner Units identify expenses and submit to Budget Units submit reallocations to Budget Cabinet & President prioritize agreed expenses 2/19/2019

Strategic Expenses Strategic Expenses will be tied to Strategic Themes as outlined in “Our Path Forward” Five Strategic Themes. Strategic Expenses will identify anticipated operating increases and new labor position creations. Strategic Expenses must be greater than $5,000. New Expenses under $5,000 must be funded by internal reallocation of funds. Strategic Expense requests will be submitted to the Budget Office using the format provided. 2/19/2019

Contractual Increases Contractual Increases will be outlined by the Colleges & Divisions, identifying the vendor, purpose, expiration of contract and anticipated amount of increase. Contractual Increase requests will be submitted to the Budget Office using the format provided. 2/19/2019

Expense Approval All Strategic Expenses received and clearly linked to one or more of the Five Strategic Themes will be presented to the University Cabinet & President for the prioritization process. Approved Strategic Expenses will be incorporated into the FY2020 Budget Plan. All Contractual Increases will undergo a strategic review. Approved Contractual Increases will be incorporated into the FY2020 Budget Plan. Resources are extremely limited, which limits the ability to approve increases. 2/19/2019

Budgeting Tools Axiom will be the tool used by the community to plan FY2020 spending within the boundaries of the budget, which will already incorporate the approved Strategic Expenses and Contractual Increases. Budget Planning Files will be distributed to University Colleges & Divisions for budget reallocations. Budget transfers for FY2019 will be on a temporary basis only once planning files are distributed. Budget reallocations will be submitted to the Budget Office for Board approval. 2/19/2019

Steps to Take (Nov-Jan) Download the Strategic Expense & Contract Increase Template Excel document Working closely as a College or Division determine the Strategic Expenses to request Strategic expense request must be above $5,000 Amounts below $5,000 must be internally funded by reallocations Approved strategic expenses and contractual increases will be included in Axiom Working together within the College or Division update all expected contractual increases Return the requests to Budgetoffice@rider.edu 2/19/2019

Steps to Take (Feb-Mar) Log into Axiom via. link Reallocate expenses based on your plans for next year Request any internally funded reallocations Reviewers will accept, reject or suggest other changes Budget changes will be accepted and confirmed 2/19/2019