Budget Planning FY 20 Budget 1 Budget Planning

Budget Planning FY 20 Budget 1

Budget Planning AGENDA • • Introductions (5 min) Budgeting Overview (10 min) BPS Overview (5 min) BPS Demo – – – Home Page (10 min) Setup Module (10 min) Funding Module (15 min) Labor Module (10 min) Budget Module (15 min) Reports and Resources (10 min) • Open Lab (30 min) 2

Budgeting Overview Why Budget? Budgeting is creating a plan to optimize your financial resources Allows you to determine in advance whether you will have enough money to do what you need to do or would like to do • • Prioritizes your spending Stewards your restricted funds Informs your reserve requirements Assesses and monitors short and long term financial sustainability • Communicates your financial status 3

Budgeting Overview H&S Operating Budget • H&S utilizes a “fund transfer” model • Budget and record “operations” expenses in operating accounts • Transfer funding to operating accounts 4

Budgeting Overview • Use a common definition of “operations” • Operations include expenditures that: – – support research & teaching goals occur on a regular or periodic basis are essential to the department’s proper functioning are managed by the department/program • Operations exclude expenditures that: – support individual faculty’s research – are true one-time expenditures – are funded by grants and contracts 5

Budgeting Overview • When projecting expenditures consider: – – historical data incremental activities strategic initiatives cost rise • When projecting available funding consider: – current year-end funding requirements – Dean’s Office allocations (base, incremental, one-time, commitments) – other transfers in (revenues, gift receipts, endowment payout, external support) – transfers out to other units 6

BPS Overview • Authority based system • Staff salaries integrated into budget system • Historical information provided as background • Budgeting by PTA • Summary page of expenses where funding is allocated across PTAs • Ability to budget mid-year funding commitments (optional) • Reporting available to assess reasonableness of budget 7

BPS Overview • Your budget process will be the same as last year • BPS system functionality is the same • BPS has been moved to a new platform (see Release Notes) • Note: New Security Feature – Save Locks – When opening a module, you automatically acquire the “Save Lock” if it is available. This will enable you to save data in the module. – The “Save Lock” status is located in the upper right – If “Save Lock” is unavailable, you can request it by clicking “Aquire Lock” • Finance will consolidate and upload to Tidemark and Oracle 8

Questions ? 9

SYSTEM DEMO 10

Home Page • Select your department or program from the drop down list • Access the modules (Setup, Funding, Labor, Budget) • Announcements • Upcoming Calendar 11

Home Page • The following are now accessible from the Navigation link on the Home Page: – Reports – Policy Links (includes current Planning Assumptions job aid) – Help Desk (includes a link to the User Guide) 12

Setup Module • For most units this is a one-time setup • PTAs are populated from Oracle • There are four tabs in the Setup module – – OB PTA Setup Restricted PTA Setup External PTA Setup Budget Projection Setup 13

OB PTA Setup • Determine which PTAs to budget and which to inactivate • Warning flags at the right suppress the ability to inactivate some PTAs that are in use • SGF/SIGF OB PTAs have been inactivated 14

Restricted PTA Setup • Inactivate PTAs not used to support the operating budget • Selected PTA attributes are displayed for your reference – Project name – Award Purpose – Reserve status • Comments field is available • Fund Authorization is available 15

External PTA Setup • Set up PTAs that are external to your unit that will be used to support your operating budget • Not a commonly used function • Useful for funding units under a common “umbrella” organization • Note: In the Setup module, External PTA tab, users cannot enter an OB PTA from other H&S departments/programs. This limitation will not allow a department to initiate the use of OB funding from another department or program to fund their operating budget. If a department should receive funding from another department’s OB, the owning department must initiate the transfer using the Transfer Out sections on a PTA Budget page. 16

Budget Projection Setup • Select projection methods for current fiscal year and budgeted fiscal year • Projection totals will display in Budget module • Projection methods and projection totals can be adjusted in the Budget module 17

Funding Module • Displays the unit’s available funding for your operating budget expenses • There are four tabs in the Funding module – – Base Allocation 9/1 Commitments Mid-Year Restricted 18

Base Allocation • Displays current fiscal year and budgeted fiscal year Dean’s Office funding allocation • Includes funding categories and calculations • Provides incremental base funding detail 19

9/1 Commitments • Lists all commitments in Hand. SOn marked as 9/1 where the funding destination is your operating budget • Expenses must be budgeted for all 9/1 Commitments • PTAs on commitment record determine where the funding will appear on the Budget OB Summary • Magnifying glass icon displays Hand. SOn description & line item note 20

Mid-Year • Lists all of the remaining commitments in Hand. SOn not marked as 9/1 where the funding destination is your operating budget • Users may select funding commitments to include in budget • Magnifying glass icon displays Hand. SOn description & line item note 21

Restricted • Displays funds from the Restricted PTA Setup tab in the Setup module • Allows users to project current fiscal year balance and funding available for the budget year • Sorting capability @ top of page • Selected PTA attributes are displayed for your reference • Comments are displayed from Setup module and can be edited 22

Labor Module • Displays staff salaries and budget distribution • Staff salaries are provided by HR • Initial labor distribution information is as of 5/22 23

Labor Module • There are two or three tabs in your Labor module – Employees – OB Summary – Bargaining Unit • Note: In the Labor module Employees and OB Summary tabs, additional labor schedules can be added using any Stanford PTA – both inside and outside of H&S. Labor schedules added to PTAs outside of H&S will not actually change the other school’s budget. 24

Employees • This is a “whole person” view for staff that are assigned to your org code • Staff organized by Job Family • Search capability • Select Display criteria • Comments field is available 25

Employees • Users can verify and adjust budget distributions – Change a distribution percentage directly in the percent column – Add a new distribution (click on “Add Distribution” button) – View charges to your org’s PTAs and charges to other H&S units and units outside of H&S 26

Employees • Users can fill an existing vacant position – Displays positions in your org code that were vacant on 05/22 labor distribution – Enter salary amount and select PTA to charge 27

Employees • Users can add a reserve – Add a lump sum reserve for any job family – Add multiple lines of reserves if you want to do it by course, quarter, name, etc. , when there is no unique position number – Enter reserve amount and select PTA to charge 28

OB Summary • Same information as Employees page but filters out all distributions that are not charged to your OB • Useful because you are only budgeting the OB in this system • Displays budget distribution detail by operating budget PTA 29

OB Summary • Users can also make budget distribution changes here (click on magnifying glass) • Fill a vacant position the same way as on the Employees tab • Add a reserve the same way as on the Employees tab 30

Bargaining Unit • If you have bargaining unit staff, use this tab is for adjusting individual salaries • Changes to distribution, adding positions, or adding reserves are done on the Employees or OB Summary tabs 31

Budget Module • The Budget module is where you budget expenses by PTA and expenditure type and identify funding sources for those expenses • There are two tabs in the Budget module – PTA Budget – OB Summary 32

PTA Budget • Select a PTA to budget • PTAs in dropdown list are those not inactivated in OB PTA Setup • Information organized by expense type • Sideways arrow opens rows for entry • Downward arrow opens additional historical detail (we don’t budget at this level) 33

PTA Budget • Select Display criteria • 3 years of historical budget and actuals data • Displays projection methods and totals for current fiscal year and budgeted fiscal year • Can change projection method and adjust projection total for current fiscal year • Displays input from Labor Module and GFPS and allows adjustments for budgeted fiscal year 34

PTA Budget • GFPS expense is brought over from the final snapshot – several known issues when reconciling to GFPS • Can budget anticipated transfers out to other H&S units and units outside of H&S • Spreadsheets or word documents can be saved as backup for budget entries. • Comments field is available 35

OB Summary • The OB Summary tab displays budgeted expenses by PTA and expenditure type and is where you identify funding sources for those expenses • Select Display criteria • PTAs in columns are those not inactivated in OB PTA Setup • Funding sources are those displayed and selected in Funding module • Restricted 36

OB Summary • Diversity PTA is self-balancing (as in GFPS) • Balance each PTA and your Dean’s Office Allocation to zero – Distributing Dean’s Office allocations across appropriate PTAs – Distributing department-controlled funding across appropriate PTAs, as needed – Commitments are already allocated to the destination PTA based on the Hand. SOn record 37

OB Summary • Budget can be submitted when all PTA expenses and funding are balanced • Once the budget has been submitted, you will not be able to edit in BPS (contact your liaison) 38

Reports • There are two reports available on the Home page Navigation menu to assist you in your review of your budget – Reasonableness Report by Expenditure Type – Reasonableness Report by PTA • You can also display a complete listing of your vacant positions with any applicable budget information that you have input in the Labor module – Vacant Position Report 39

Resources • Finance web site for policies, procedures, training materials, calendar, and contact information • User Guide on the BPS Home page • Open labs following the BPS refresher sessions: Day/Date Wednesday, 06/26 Thursday, 06/27 Tuesday, 07/02 Training Session Time 2 pm – 4 pm 9 am – 11 am 10: 30 am – 12: 30 pm Open Lab Time Immediately following Location Bldg 1, 1 st Flr CR • Open lab on Tuesday, July 9, 1 -5 pm, Bldg 1, 2 nd Flr Finance 40

OPEN LAB 41