Budgeting Process
Overview
To provide effective budgeting and revenue forecasting policies and management systems that will allow the organization to provide fiscal leadership, fiscal objectives and a management reporting tool to track variances throughout the year
IT Systems Utilized
WebCenter COMPASS
Budget Preparation
Work with Director of Administrative Services in IT to prepare The Vault application for the upcoming budget year.

Create New Budget in Great Plains
1. Cards | Financial | Budgets
2. Find 2012ADJ
3. Excel | Export to Excel
4. New Workbook
5. Excel | Import Excel
6. Next
7. Choose – A new budget
8. Info Screen
a. ID = 2012VAULT
b. Desc = 2012/2013 Vault
c. Fiscal Year = Default
d. Date Range = 2012
9. Select the Excel Sheet
10. Select the first worksheet (2012ADJ)
11. Finish
12. Open the budget (using Dynamics)
13. Type/search an account number (10-515900-62050-00)
14. Once verified – Click LOCK

Vault Setup
1. Click on Vault Setup
2. Set to Pass I (P1)
3. Change Pass End Date to (Talk to CFO)
4. Increment grid one year

Budgeting Process
Unless otherwise noted, Financial Affairs Budget & System Manager prepares all budget related worksheets.

Operating Tab( Appendix I 1)
The worksheet format is the following:
1st column is the account numbers
2nd column is the description
3rd column is the prior year actual expenditures.
4th is the budget as approved by the board of trustees for the current fiscal year.
5th column is the adjusted budget (original budget reflecting any transfers) for the current fiscal year
6th column is for requests transferred from the Goals approved.
7th column is for requests for the upcoming fiscal year. Pass I
8th column is for requests for the upcoming fiscal year. Pass II
9th column is for requests for the upcoming fiscal year. Pass III
10th column is a calculation of column 5 plus/minus column 6,7,8 &9 equaling the total amount requested.
Personnel Tab (Appendix I 2)
Information is populated from the payroll/HR system in Great Plains.
1st column is the account number.
2nd column is the employee’s Last Name.
3rd column is the employee’s First Name.
4th column is the employee’s position
5th column is the employee’s category & level
6th column is the employee’s current salary.
7th column is the salary for the next fiscal year with the approved percentage increase for the next year.
8th – 10th columns are available to request a salary for an existing position that is greater or less than the approved increase. Explanations for any differences will be written at the bottom of the page. Requests for new positions may be added by clicking the Add Empolyee tab at the top right of the page.
11th column is a calculation of column 7 plus/minus column 8 equaling the total salary requested.
12th column is a calculated FICA value.
13th column is a calculated TIAA/CREF value.

14th column represents the employer portion of the employee’s medical/dental insurance coverage
13th column represents the employee’s phone allowance paid by the employer.

Capital Request Tab is available for departments with Capital expense budget lines only. (Appendix I 3)

Any requests for capital items that were requested in the departments goals will roll over to this tab and the Description will begin with (Goal) for identification.

Department will complete form with requests for equipment purchases, building repair or renovations.

CFO informs Executive team when the operating expenses, personnel and capital requests are available in The Vault. The Vault is opened in early January November and Pass I is due back mid to late January. November.
Executive team allows access to appropriate personnel (Deans, Directors, etc.) for their input. Executive team member will then review all data submitted prior to the Executive team budget meetings.

Prepare Tuition Revenue Forecasts in the following manner: (Appendix I