Financial Position Projections


As the Budget Office prepares to develop the Fiscal Year 2013 Board of Trustees Budget, we are requesting assistance from the college/administrative units in forecasting the financial position of their units for Fiscal Year 2012. The Budget Office, in coordination with the Office of Information Technolog, 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 20th, 2011

    • Quarter 2 (activity thru Period 6) : Thursday, January 19th, 2012

    • Quarter 3 (activity thru Period 9) : Friday, April 20th, 2012

    • Quarter 4a (activity thru Period 10): Friday, May 18th, 2012

    • Quarter 4b (activity thru Period 11): Friday, June 15th, 2012

Useful Reports to Assist with Projections