As the Budget Office prepares to develop the Fiscal Year 2014 Board of Trustees Budget, we are requesting assistance from the college/administrative units in forecasting the financial position of their units for Fiscal Year 2013. The Budget Office, in coordination with the Office of Information Technology, has developed a Financial Position Report for use by all budget units within UDataGlance. This report shows units their financial position by providing a summary of all financial activity on the basic operating funds; is available to download to excel and can be used as a tool in projecting revenues and expenditures. Please use the Instructions found below for submitting financial position projections.

Instructions

Units may use their desired format for reporting year-end projections which at a minimum should include:


• Projected year-end revenue and expenditures. Undergraduate Tuition Revenue & Aid projections will be provided by the Budget Office in advance of the deadline. Units may use their discretion in providing projections at a higher level of detail, if it is helpful.
• Non-College Units - explanation of variances to budget
• College Units/Self-Supporting - explanation for change in financial position
• Funding plans to address deficits, where applicable
• Current unrestricted reserve balance
• Known commitments against unrestricted reserves – these are the 17-reserve purposes that were used for the year-end sweep; they are tagged with an RBB_OP_SORT attribute value to differentiate them from other reserves.

Units are expected to report on Basic Budget and Self-Supporting activity independent of each other using the criteria listed above.

Dates

Projections should be submitted to your budget analyst no later than:


• Quarter 1 (activity thru Period 3): Tuesday, October 21, 2012

• Quarter 2 (activity thru Period 6) : Thursday, January 20, 2013

• Quarter 3 (activity thru Period 9) : Friday, April 21, 2013

• Quarter 4a (activity thru Period 10): Friday, May 19, 2013

• Quarter 4b (activity thru Period 11): Friday, June 16, 2013

Useful Reports to Assist with Projections

Visit the Budget Office reports page to help with financial projections.