Things You Need to Know
For further details regarding FY 2017-18 information, please refer to the Budget Call Letter.
- Budget Development: It is important that our budget development strategies lead to concrete and measurable outcomes consistent with stated priorities. Therefore, effective with the FY 2017-18 budget cycle, we require that each campus division submit the following as part of the 17/18 budget development process.
- Complete model 17/18 in the PeopleSoft Campus Budget Module
- Submit a narrative. Narratives should include your area’s challenges and opportunities.
- Submit a prioritized supplemental budget request form if you are requesting any funding beyond your base levels. Any new investments should be clearly linked to strategic priorities.
- Prepare a brief presentation for the Budget Working Group (BWG) that will be shared with BWG, CAPRA, and Univeristy Counsil.
- IFR Accounts: In the current budget climate, we will be increasing scrutiny on the use of reserves in IFR accounts. Please use this budget cycle to address structural imbalances by reducing expenses or growing revenue, where necessary.
- Any 6/30 deficit (as determined by the Accounting Office’s review of your accrual sheets), not accompanied with an approved deficit reduction plan will be debited from the new year’s State operating funds. To see the IFR Deficit Policy, click here.
- Starting this year, when budgeting IFR activity, please keep budgeted revenue and budgeted expenses within 10% of your historical actuals. This 10% limit applies to activities above $50,000. Exceptions require approval from the Vice President for Finance.