Budget Process April 2011 Linda Corva, Assistant Vice President/Controller

1. Budget ProcessApril 2011Linda Corva, Assistant Vice President/Controller

2. Agenda • Discuss key chart field information re: budgets • Discuss milestones throughout the Fiscal Year • Beginning of the fiscal year • End of each quarter • Last four months of the fiscal year • Month following fiscal year end Can I pay for this? Budget Process

3. Key Chart Field InformationRe: Budgets Can Ipay for this? Budget Process

4. Key Chartfields • Budgets are posted to specific funds and accounts: • Funds: • 10000 – State Appropriation • 10500 – Tuition • 10600 – Fees and Other Revenue • Accounts by Category: • 500000 – Personal Services • 600000 – Travel • 700000 – Operating Supplies & Expenses (OS & E) • 800000 - Equipment Can I pay for this? Budget Process

5. Milestones Throughoutthe Fiscal Year Can Ipay for this? Budget Process

6. Milestones • Beginning of the fiscal year (July) • Quarter end (September, December, March, June) • Last 4 months of the fiscal year (March - June) • Month following fiscal year-end (July) Budget Process

7. Beginning of the Fiscal Year Can Ipay for this? Budget Process

8. Beginning Milestones July 1 – Budget managers run Budget Progress Report and review allocation of amounts by fund, department and category. July 1 – Budget managers begin to spend “current year” money allocated to your department(s) in funds 10000, 10500 and 10600 to cover expenditures in the various categories (Personal Service, Travel, Operating Supplies & Expenses and Equipment). “Prior year” money will be discussed later. July Budget Process

9. Quarterly Can Ipay for this? Budget Process

10. Quarterly Milestones Day Following Quarter-End Close – Budget Managers run Budget Progress Report and validate allocation (revenue) and expenditure amounts for each fund, department and category. • Budget Managers report any coding errors to the Director of Accounting Services • Accounting Services makes requested corrections Qtrly Budget Process

11. Quarterly Milestones (continued) Week Following Quarter-End Close • Budget Managers monitor correction of the coding errors, using the Budget Progress Report • Budget Managers sign and deliver Budget Progress Report to Budget Director by 5th day of the following month • Budget Director files budget amendment with Board of Regents, reflecting voluntary / involuntary “adjustments” to budgeted revenue and expenditures Qtrly Budget Process

12. Quarterly Milestones (continued) Types of Adjustments: Allocation budgets may be adjusted to reflect actual tuition revenues received for the semester, budget cuts, fee budget adjustments, etc. Budget amounts may be moved amongfunds and departments, per budgetmanager requests Salary Saving Dollars may be moved to Contingency and/or Special Projects budgets Qtrly Budget Process

13. Last 4 Months of theFiscal Year Can Ipay for this? Budget Process

14. March Milestones • Procurement Services sends fiscal year-end deadline calendar to all budget managers • Departments continue to spend all dollars budgeted to their department(s) • Budget Director begins gathering data for next fiscal year’s budget • Budget managers and BudgetDirector completequarter-end tasks March Budget Process

15. April Milestones • Accounting Services announces deadlines for last bid opening for departmental purchases • State Appropriation allocation amount is announced for next fiscal year budget • Budget Director gathers requests for spending any“leftover” departmental budgeted dollars (a/k/a “Year End Spend”) • NOTE: CSU may carry forward up to 3% of its tuition revenues to the next fiscal year • PBC prioritizes new funding requests for next fiscal year April Budget Process

16. May Milestones • Accounting Services cuts off department purchases on P-Cards (statement received in June) • Summer registration fee deadline arrives – Business office splits summer revenues by fiscal year (part in current fiscal year, part in next fiscal year) • PBC prioritizes year-end funding requests • Budget Director builds next fiscalyear budget in PeopleSoft May Budget Process

17. June Milestones • Budget managers spend amounts approved by PBC (“year end spend” requests) based on PBC prioritized list • Accounting Services closes Travel and Expense module for fiscal year • Accounting Services receives and reconciles P-Card statement • Budget Director files final budget amendment with Board of Regents • Accounting Services reconciles generalledger and revenue amounts • Budget managers and BudgetDirector complete quarter-end tasks June Budget Process

18. Month FollowingFiscal Year-End Can Ipay for this? Budget Process

19. July Milestones • Budget and Finance continue to spend amounts approved by PBC (“year end spend” requests) based on PBC prioritized list • Accounting Services prepares annual financial statements (a/k/a “CAFR”) for submission to Board of Regents • Budget managers “start over” with Beginning-of Fiscal-Year milestones July Budget Process

20. Recap – Q & A Can Ipay for this? Budget Process

21. Agenda - RECAP • Discuss key chart field information re: budgets • Funds – 10000, 10500, 10600 • Accounts by Category: • 500000 – Personal Services • 600000 – Travel • 700000 – OS & E • 800000 – Equipment Can I pay for this? Questions? Budget Process

22. Agenda – RECAP (continued) • Discuss milestones throughout the Fiscal Year • Beginning of the fiscal year– review budgets, spend allocation • End of each quarter – validate Budget Progress Report info • Last four months of the fiscal year – spending cutoff, YE spend • Month following fiscal year-end – YE spend, CY spend Can I pay for this? Questions? Budget Process