1. Budget Management Tips & Resources
Budget Users’ Group
Budget Management Tips & Resources
November 1, 2017

2.
Note: No redirect (yet) if you’re training yourself to use “catholic” instead of “cua”

3. Budgeting Philosophy and Review of Terminology
Do You Feel Prepared?
If not, you’re in excellent company
BUG: Increase transparency-- assistance in data interpretation, policy and process requirements, and use of tools
Encouraging transparency, and thus collaboration, alters traditional roles, and requires more specialized knowledge
We are here to help

4. Operations Reports Analysis Plans
Philosophy: Support Catholic University’s faculty and staff, and by extension, students and full community, by overall system operations, reporting, analysis, and planning.
Evaluation: Revisions (problem-solving) and Forecasts (proactivity)
Incorporation: Mission, Strategy, and Course Corrections
Oversight: Accuracy and Knowledge of System Options and Limitations; Risk Management
Systems: Promising Practice Policies and Processes
Operations
Reports
Analysis
Plans

5. Budget Terminology and Practices Used at Catholic University
Account, Fund, Org/DeptID
Check for the most appropriate account code on General Accounting’s website.
Operating, Designated, Endowment
11; 18, 19, 59; 31, Common coding mistake.
Fund numbers within a category ↑ = Spending restrictions ↑
Cash/Spend Authority/Budget
Cash can and does exist independently of the vice-presidential authority to spend it. Integration of full amounts of cash revenue into current budget/spend authority is not automatic.
You must have cash >/= spend authority. Spend authority cannot be used independent of cash.
Cash and spend authority do not move together amongst designated funds.
The University Budget Office does not allocate original spend authority; we will assist in reallocating it when necessary.
You can move spend authority as long as you have a positive "funds available to spend (OVERSPENT) for this fiscal year" (term used on 1 RESERVE reports) amount in your "source" fund. Available spend authority can be spread out amongst your funds as you see fit with few restrictions. The only new, additional spend authority to be added after the original budget load for the fiscal year will be in the form of cash in-cash out revenue (usually donations or originally unbudgeted fee revenue) that is received in designated funds. That new spend authority granted automatically with CICO funds can be allocated amongst designated funds as you wish; it does not have to go into the exact same fund as the cash itself.

6. Budget Terminology and Practices cont. (2)
Compensation/General Expenses/Financial Aid
nVision reports; Z-levels
Pre-Encumbrance, Encumbrance, and Actuals
Reqs/Purchase Orders
Encumbrances = Alignment with the Future
Actuals
Funds Transfer
“Funds” = Cash only
Expense Transfer
Endowment Carry-Forward Spending Plan
Endowments with very specific spending requirements may be used to offset lower allocated payouts from endowments that must be used in a given fiscal year.

7. Budget Terminology and Practices cont. (3)
Permanent Budget Revision
Reallocation of approved spend authority within the same Fund Type (Operating 11 ↔ 11, Designated 19 ↔ 19).
PBR form must be correctly filled out with justification provided and budgeted credits EQUALING debits.
Attach nVisions (1ORG, 1RESERVE, etc.) for all affected orgs.
Required signatures, in order: Requestor, Dept. Head/Dean, VP/VP administration/Provost. The office of your division head (VP/Provost) will either forward the PBR on to the University Budget Office, or will return it to you to do so.

8. Budget Terminology and Practices cont. (4)
Projections for Budget Planning
Regular communication with your department/school re: future expenses
Review actual expenses for the past 3 fiscal years using BUDPBB, BUDMEMO4, and BUDZERO reports
Capital Budgeting
Required capital projects need to be included in your budgetary submissions to your Vice President/Provost.
Account 8904; “Capital Project Funding”
An 8904 account line expense does not add to your spend authority total; i.e., this line needs to be disregarded (subtracted from total) when viewing the “available to spend” section of your nVision.

9. Key Considerations for Budget Users
Are my revenue expectations realistic and reliable?
Is my revenue dependent on the success of a single source or event?
Are my expenses (inclusive of compensation, merit-based financial aid, and general expenses) lower than my projected revenues?
Are my designated and endowed fund expenses fixed or variable?
Am I submitting budgetary requests based on the most current information available?
Am I considering known budget impacts ahead of their appearance on expense reports, payroll, accounts payable vouchers, etc.?
Am I aware of the specific funding allowances and restrictions for each of the funds I use or manage?

10. Resources Know who to ask, and don’t wait Be involved and engaged
The earlier that people tasked with budgetary oversight for your department, school, division, or university learn of a potential issue, the more options available to them.
Try not to go “straight to the top.” Each level of administration is designed to encourage checks and balances, which will ultimately increase accountability to you; e.g., ☻→ Chair → Dean → Division Head (VP/Provost) → University Budget Office. Not strictly hierarchical; procedural.
Encourage collaboration and open, transparent coordination.
Be involved and engaged
Make sure your budget plans fit within the boundaries of your department/school/division mission, policies, and overall needs. You are the expert on your own budgetary requirements and priorities. The more information (and time) you provide the offices you must submit your budget or revisions to, the better.
Expect change.
Check your budget reports before any and all requests.