FY10 Spending Plan Process - PowerPoint PPT Presentation

1 / 8
About This Presentation
Title:

FY10 Spending Plan Process

Description:

... rebates for undergraduate in-state students, and one-time federal stimulus funding) ... will lose $20M of federal stimulus money that our campus is ... – PowerPoint PPT presentation

Number of Views:30
Avg rating:3.0/5.0
Slides: 9
Provided by: CMN3
Category:

less

Transcript and Presenter's Notes

Title: FY10 Spending Plan Process


1
FY10 Spending Plan Process
  • Finance and Administration Advisory Group
  • September 30, 2009

2
We Have a Final FY10 Budget
  • Despite the challenges posed by recession and
    resulting decrease in state support, we were able
    to craft a budget for FY10 that
  • Protects our academic core, advances key
    initiatives outlined in our strategic plan, and
    avoids layoffs, furloughs, and other major
    impacts on faculty and staff  
  • Is balanced
  • Has a built-in reserve of 6 million to cover
    anticipated additional 9C cuts from the state
    this fall.
  • We achieved the above using 3-pronged strategy
    that relies on
  • New revenue (a student fee increase, minus
    rebates for undergraduate in-state students, and
    one-time federal stimulus funding)
  • Redirecting existing trust fund revenues to
    support more expenses
  • Implementing cost-reduction measures recommended
    by Deans and Vice Chancellors under the 6
    reduction scenarios requested during budget
    process.

3
Looking Ahead to FY11
  • The FY11 Challenge
  • In FY11, we will lose 20M of federal stimulus
    money that our campus is receiving in FY10.
  • In addition, we expect significant pressure on
    expenses so that we can fund continued progress
    on strategic plan goals, enrollment growth,
    increased need for financial aid, master plan
    activity, collective bargaining agreements, life
    safety and facilities maintenance needs, and
    general inflation.
  • Our strategy for FY11 will include both revenue
    growth and expense reductions.

4
Next Step in the FY10 Process is Spending Plans
Why Spending Plans?
  • Spending plan is mechanism for forecasting
    spending for campus to ensure that we will have
    enough cash to get through FY10. Ability to
    forecast is especially important during turbulent
    financial times.
  • We start the budget process many months in
    advance of the start of the fiscal year, so we
    want to update our FY10 spending assumptions
    based on current information.
  • Because we implemented spending cuts for FY10, we
    need to confirm with departments where they are
    reducing their budgets.
  • Where feasible, we want to allocate out to
    departments specific budgets to implement the
    recommendations of the Growth Planning Committee.
  • Spending plan is also accountability tool to help
    ensure that units have specific plans to live
    within their FY10 allocations. Because of budget
    cuts, we cant operate same way we did in FY09.

5
Key Points about FY10 Spending Plan Process
  • We will manage the spending plan process through
    VCs.
  • All-funds process Spending plans will cover all
    unrestricted funds.
  • At level of major budget units (e.g., colleges
    for Academic Affairs, could be departments in
    other areas).
  • At subsidiary code level, with certain mandatory
    account codes.
  • If your department plans to spend any
    carry-forward dollars,
  • First get approval of your VC.
  • Then send narrative describing proposed spending
    to OBFP.
  • We have released for posting and hiring the
    positions that Vacancy Review Committee had put
    on hold.
  • We are using FAIR to facilitate FY10 spending
    plan process.
  • Once you have developed your plan for how your
    unit will allocate its FY10 resources, you will
    fill out template in FAIR.
  • We will provide training on how to use FAIR to
    submit your departments spending plan.

6
FY10 Spending Plan Process
  • We plan to distribute to VCs the following
    information
  • FY10 budget allocation for personnel and
    non-personnel expenses by funding source. 
  • Reduced for any spending reductions that were
    rated 1 in your departments 6 reduction
    scenarios.
  • Increased for any new resources received in FY10
    budget process, such as positions recommended by
    the Growth Planning Committee.
  • The table will look something like this
    simplified, hypothetical example

7
FY10 Spending Plan Process (continued)
  • A list of "authorized" positions for all
    unrestricted funds (state, CTF, and other trust
    funds), benefitted positions only. 
  • Instructions about how to use FAIR as the vehicle
    for submitting your departments spending plan. 

8
Proposed Schedule
Write a Comment
User Comments (0)
About PowerShow.com