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FY2020 Budget Process

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This page provides an overview of the budgeting process, along with templates, memos, help, and contacts who can provide support as you plan for the next fiscal year.

The budget is built by projecting tuition revenue, other income, and already committed operating expenses. Changes to the budget are developed through the framework of the strategic plan “Our Path Forward” this development process includes budget owners reallocating existing budgets to align with their plan for operations in the next fiscal year. Please be aware that existing expense commitments can be significant, which limits the ability to approve increases.

Overview of the Operating Budget Development Process

The FY2020 Budget Memo provides more detail on the process outlined below.

  1. Revenue
       Tuition and Financial Aid are projected based on enrollment.
       Housing and Dining Revenues are projected.
       Other Revenue sources are projected.
  2. Expense
       Expenses that have been committed to are determined.
       Labor expenses are projected.
       Strategic Expense requests are gathered and prioritized.
  3. Changes
       Revenue not used by existing commitments and Labor is available to use for Strategic Expenses.
       Strategic expenses are funded by priority as determined by the Cabinet, up to the level of funding available.
       Once the Strategic & Contractual Expense increases are agreed by cabinet, the budgeting process will be opened in Axiom for internal reallocations.

Steps to Take (Nov – Jan)

  1. Download the Strategic Expense & Contract Increase Template Excel document
  2. Working closely as a College or Division, determine the Strategic Expenses to request
  3. Working together within the College or Division update all expected contractual increases
  4. Return the requests to [email protected]

Strategic expense request must be above $5,000.
Amounts below $5,000 must be internally funded by internal reallocations.
Approved strategic expenses and contractual increases will be included in Axiom.

Steps to Take (Feb – Mar)

  1. Log into Axiom
  2. Reallocate expenses based on your plans for next year
  3. Request any reallocations
  4. Reviewers will accept, reject or suggest other changes
  5. Budget changes will be accepted and confirmed

Help & Training

Open sessions will be arranged to answer questions on the process and to provide help; an email will be sent out with dates and locations as well as reminders. We will also post the next upcoming date and location here once the initial communication has been sent.

Additional training and information can be found here. In addition to the FY2020 budgeting process, this presentation begins to provide more transparency on how the budgeting process works.

For Axiom Users training, a step by step instruction manual has been prepared for your reference. Please click the Axiom Users Guide link to view. Training for Axiom Users for the FY2020 budget cycle will be held on Feb 28th and March 1st at 10 am in SWG 208.

You are encouraged to reach out and contact Lisa Tindall directly with any questions or to arrange one to one assistance.

We will also be reaching out to senior leadership to arrange area specific group orientations and to answer questions.

Templates

The templates also contain detailed instructions on how to complete and answer some common questions.

For more information, please contact:

Headshot of Lisa Tindall
Assistant Budget Director
Moore Library 105
Headshot of Jeff Blundell
Assistant Vice President for Financial Planning and Budget
Moore Library 119