LIBERTY UNIVERSITY
BUDGET PLANNING GUIDELINES
FISCAL YEAR 2015-2016
Prepared by:
Liberty University
Financial Planning & Budgeting
Table of Contents
Budget Development................................................................................................................... 1
Administration ................................................................................................................................................1
Budget Development Process ..........................................................................................................................1
Planning Guidelines ........................................................................................................................................1
Base Budget Worksheets .................................................................................................................................2
Budget Request Form (BRF) .............................................................................................................................3
Funding Requests ........................................................................................................................5
Revenue ...........................................................................................................................................................5
Scholarships ....................................................................................................................................................5
Personnel Expenditures...................................................................................................................................5
Direct Expenditures ........................................................................................................................................7
Assets and Capital Expenditures .....................................................................................................................7
Budget Hearings .........................................................................................................................8
Format of Hearing ...........................................................................................................................................8
Budget Presentations .......................................................................................................................................8
Results of Budget Hearing ...............................................................................................................................8
Budget Execution ........................................................................................................................9
Budget Reports ................................................................................................................................................9
Budget Adjustments ........................................................................................................................................9
Budget Amendments and Revisions ................................................................................................................9
Appendix A – Budget Assumptions ........................................................................................... 10
Appendix B – Example Base Budget Worksheet ........................................................................ 14
Appendix C – Budget Request Form (BRF) ................................................................................. 19
Budget Development
Base Budgets and proposed budget adjustments are developed by each organization in the spring for the
upcoming fiscal year. It is the responsibility of each division leader to incorporate the direction provided
through the University’s Strategic Plan in the budget planning process.
Managers should be mindful of the assessment questions that will need to be answered in later months
for each funding request presented. These assessment questions include:
1.
2.
3.
4.
What was the measure, assessment instrument, or strategy that helped identify this need?
If funded, did the item accomplish your goal?
If not funded, what was your alternate action plan?
How did you know the item requested was linked to the strategic plan goal you listed?
Administration
Each fiscal year the Financial Planning and Budgeting office summarizes a forecast of the University
operating expenditures for the current year. The budget is divided into organizations for operational
purposes. The budget is developed consistent with the overall mission of the University and in keeping with
each organization’s goals to support this mission.
Budget Development Process
The University’s budget is developed based on enrollment and revenue projections. Using these
projections as the funding level, budget expenses are determined by reviewing prior year expenses, current
year forecasted expenses, and funding requests at the organizational level. Each proposed budget adjustment
is reviewed and approved by the budget manager, dean (if appropriate), and senior administrator. Requests
for budget increases are presented by the division leader (dean or senior administrator) during the budget
hearings. It is the responsibility of the division leader to justify each proposed item during the budget
hearing.
The Chief Financial Officer reviews all requests for budget adjustments with Senior Administration to
discuss and prioritize the needs for the University. Once funding adjustments have been approved, the
Financial Planning and Budgeting Office compiles the University proposed budget.
Planning Guidelines
Each division leader will receive electronic Budget Packets, through temporary budget drives, containing
Budget Planning Guidelines, Base Budget Worksheets, and a Budget Request Form. The Budget Planning
Guidelines are provided to assist division leaders in developing the proposed budgetary changes necessary to
facilitate the division’s goals and objectives in support of the University’s mission. The Base Budget
Worksheet, explained in the following section, is provided to division leaders for the organization(s) for
which they are responsible. Each worksheet provides historical expenditures and the projected base budget.
The division leader develops proposed budget adjustments to accommodate personnel changes, salary
adjustments, operating expenses, assets, and scholarship needs. These changes are subject to University
policies and may be attained through reallocation from the base budget, new funding, or a combination of
reallocation and new funding. If new funding is required for these changes, the requests must be included on
the Budget Request Form (BRF), which is described in a subsequent section.
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Base Budget Worksheets
The Base Budget Worksheets (see example in Appendix B) are a consolidation of data, organized similar
to the budget queries available in Banner. This document is designed to aid organizations in developing
resource needs by providing historical information and a projection of the upcoming year’s base budget.
Division leaders will use the information provided to develop the Adjusted Base Budget (see C9 below)
to more accurately reflect the anticipated use of base budget funds. Each Adjusted Base Budget amount
must be properly substantiated in order for that amount to be included as the base budget for the
coming fiscal year. Substantiations (defined: “to support with proof or evidence, verify”) are intended to
support the amounts that will be loaded as a base budget in Banner. Examples of proper substantiation
include:
•
•
•
•
•
Cost per student x number of students
Cost per employee x number of employees
Cost of trip x number of attendees
Average cost over past 3 years with no increase/decrease in activity
Average cost over past 3 years with __% rate increase
Once updated, division leaders must save the worksheets and any other supporting documentation to the
temporary budget drive (do not email worksheets to Budget Analysts). Base Budgets will then be reviewed
for adequate substantiations and proper allocation of funds. Revised worksheets must be submitted no
later than January 31th to allow for timely loading of base budgets into Banner.
Once the updated Base Budgets have been validated and approved by the Financial Planning &
Budgeting office, worksheets will be locked from editing. Division Leaders will continue to have access to
view worksheets for planning purposes, but no further changes will be permitted.
Each section of the Base Budget Worksheet is detailed below.
•
Account Number (C1)
•
Account Description (C2)
Further explanations and definitions for these accounts can be found on the Banner Finance training
website or via the Account Codes & Definitions guide.
•
Prior Year Actual Transactions (C4-C6)
A historical record of actual transactions for the past three fiscal years.
•
Current Year’s Actual Transactions (C7)
Reports on the first four budget periods (July thru October) of actual transactions applied against the
current year’s budget.
•
Next Fiscal Year’s Original Base Budget (C8)
The Original Base Budget is provided as the starting point for the proposed budget. The base
budget is constructed of the current year’s budget (C6), excluding non-capital and capital assets.
•
Next Fiscal Year’s Adjusted Base Budget (C8) – RESPONSE REQUIRED
The Adjusted Base Budget is provided as an avenue for organizations to make adjustments to the
Original Base Budget. Line items may either be increased or decreased based on historical expenses
and projected needs. However, the total Adjusted Base Budget cannot exceed the total Original Base
Budget. Any funding needs above the Original Base Budget must be requested on the Budget
Request Form (BRF).
Note: Permanent budget amendments approved after December 1st may not display in the
Original Base Budget. Organizations should add requests to the Adjusted Base Budget with
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appropriate substantiation and the related JV number. This will cause the Adjusted Base
Budget to exceed the Original Budget. Financial Planning & Budgeting will validate these
permanent amendments before finalizing the University’s Base Budget.
•
Substantiation (C10) – RESPONSE REQUIRED
This column must be completed by the organization to substantiate the Base Budget. Substantiations
and adjustment notes from the previous year’s planning cycle are included. Budget Managers should
review each line and provide additional information to strengthen substantiations where necessary.
If amounts cannot be substantiated, the Adjusted Base Budget should be reduced to reflect only
those amounts that can be supported. All properly substantiated amounts will be loaded into Banner
as next years’ Base Budget.
Note: Substantiations are intended to verify/support the funding level, not simply justify the
expense. For example, “Printing for department” does not properly demonstrate the
funding level of $1,200 but “Office printing for 2 employees estimated at 100/month x 12
months” is an appropriate substantiation.
Budget Request Form (BRF)
The Budget Request Form (BRF) is a required document that is used by division leaders to detail all new
funding requests presented in the budget hearings. Only one BRF should be submitted for the whole
division. In the event that a division does not have any requested budget changes for the coming fiscal year, a
completed BRF must still be submitted to document this fact. Appendix C provides a sample Budget
Request Form.
There are nine columns in the form and all fields are required. The form will run a summary by the
various request types selected from the drop down menu in column C4. The summary fields are locked but
will automatically update as the table is completed.
•
Priority (C1)
Using a scale of 1 to 5 apply a priority level to each budget request being made. Levels should
be used as follows:
1.
2.
3.
4.
5.
Must-have; will not be able to operate without item.
Needed to maintain current operations.
Able to operate without, but desired for higher quality operations.
Can live without item this year, but necessary for future operations.
Wish list item; not necessary but would be nice.
•
Index # (C2)
Enter the index code related to the organization needing the adjustment. Index codes are
required to ensure the correct Fund and Organization combination is used when approved
budget adjustments are entered in Banner.
•
Organization Name (C3)
This field is locked from editing but will auto-populate the index code title based on the
information provided in the Index # field.
•
Request Type (C4)
Select the appropriate Request Type from the drop-down box (do not type in the category).
Options include New Faculty, New Staff, Faculty/Staff Adjustments, Student Employees, Assets
(capital & non-capital), Construction/Technology Projects, Operations, Revenue, and
Scholarships.
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•
Acct Code (C5)
Enter the specific account code where funding adjustments are needed. If multiple accounts are
used, each account and the corresponding funding need should be specified (C7). Please review
the example spreadsheet in Appendix C on how to complete this section correctly. Further
explanations and definitions for these accounts and related commodity codes can be found on
the Banner Finance training website under the Account Codes & Definitions and the
Commodity Codes & Definitions guides.
•
Duration (C6)
Identify if the requested adjustment is Temporary, Permanent, or Both. “Temporary” indicates
that a one-time adjustment is necessary. “Permanent” denotes that the adjustment will be
recurring and should be applied as a Base Budget item in future fiscal years. If the funding
adjustment includes both one-time and recurring adjustments, department must mark the
adjustment duration as “Both” and provide a breakdown within the Narrative Description (C7)
of the temporary and permanent adjustments.
•
Narrative Description and Substantiation (C7)
Provide a detailed description of the requested item and substantiate the funding need. Where
possible, please provide supporting documentation. All personnel requests must include the
action number(s) from the HR Jobs Tool.
•
FY16 Adjustment (C8)
Record the total net adjustment to the new fiscal year’s budget. Only the adjustment should be
included, not the total budget. Related expenses should be combined (example: when requesting
an additional staff member, the total cost for the salary, benefits, office set-up, and operational
expenses must be included.) Identify one-time costs from recurring expenses in the narrative
section on this form.
•
Link to Strategic Plan (C9)
Select from drop-down box to indicate which visionary theme the requested funding item
supports. Do not type in this category. Division leaders may also include the specific goal and
objective numbers (example: Finance 5.3) in the field adjacent to the visionary theme. Further
explanations of the Strategic Goals can be found on the Strategic Plan website.
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Funding Requests
Division leaders are required to develop plans and budgets that support the University’s strategic goals
and objectives. Request for new funding must be consistent with Liberty University’s Strategic Plan.
Supporting documentation for all funding requests should include appropriate assessment criteria and
expected results to be gained from new funding. The question, “What will be the impact of not receiving
these budget adjustments?” should be answered.
Funding requests should include any adjustments needed for projected enrollment, improved level of
service, or anticipated price increases. Funding that may be required in the upcoming fiscal year to
prepare for growth in following fiscal year should also be identified in the budget requests. This
should include any new personnel, computers, equipment, additional operating expenses, et cetera.
To assist organizations in developing funding requests for the upcoming year, assumptions regarding
enrollment, housing, and facilities are included in Appendix A. The Financial Planning and Budgeting office
is available to assist each area in developing resource needs. Budget Analysts are assigned to specific divisions
as listed on the Financial Planning & Budgeting website.
Revenue
Organizations with revenues, such as auxiliary services, ticket sales, fees, et cetera should project income
used to off-set or fully fund their activities. Departments are expected to link their planned income to the
related expenses and/or scholarships, reporting any variances.
Scholarships
Scholarships should be substantiated to the number or percent of students being awarded, as well as the
tuition and fee percentage/rates to be covered. Organizations should review the University’s planned
academic program costs when projecting funding levels.
Personnel Expenditures
All proposed personnel changes are reviewed by the Vice President for Human Resources. Proposals
should be submitted electronically via the HR Jobs Tool along with supporting documentation such as job
description, performance evaluations, et cetera.
Note: Each proposal submitted in the H R Jobs Tool should include a comment that the
request is for the coming fiscal year and is listed on the division’s BRF.
All personnel BRF requests must include an action number or position number in the
Narrative Description section (C7) to aid in position request/approval tracking.
New Positions
In addition to the electronic proposal, requests for new positions must be included on the Budget
Request Form with the HR Jobs Tool action number. To ensure all funding requirements are
considered, it is necessary that organizations include each expense pertaining to a new hire in the budget
request. Startup and recurring funding needs may vary, dependent on position type, department, et
cetera.
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Salary Increases
The Senior Administration and Board of Trustees consider annual cost of living and/or merit
increases for all budgeted positions. Individual salary adjustments may be considered for employees who
have been assigned a significant increase in duties and responsibilities. Requests for such increases must
be submitted to Human Resources within the following guidelines:
•
•
•
The salary request must be reviewed in relation to the salaries of other employees in the work
unit.
The salary request should be in alignment with other similar positions on campus; Human
Resources will make this final determination.
Quantifiable data demonstrating the increase in duties and responsibilities must be included.
Any request for salary adjustments along with applicable fringe benefits must be included on the
Budget Request Form referencing the position or action number from the electronic proposal in HR Jobs
Tool. Also included should be satisfactory performance evaluations for all personnel to be considered.
Salary information can only be obtained through Human Resources. Budget managers must exercise
discretion and protect the confidentiality of individual salary information.
Graduate Student Assistants
New graduate student assistant positions require prior approval from the Graduate School
Administrative office. Each budget manager is responsible for allocating funds for the tuition remission
(scholarships), stipend, or combination of both, given to the assistants. Further information concerning
graduate student assistant positions can be found in the GSA Handbook.
Student Employment
Organizations are encouraged to use student workers when a part-time employment is needed. The
two major student employment categories are Work Study and Work Assistance. Work Study eligible
students are persons identified through the Financial Aid process as having an un-met financial need.
Since the University is committed to assisting these students, departmental student employment budgets
are required to be made up of 75% or more Work Study, and no more than 25% Work Assistance.
A limited amount of federal funds are allocated to the University in an effort to reduce the Work
Study financial burden. Because it is partially supported by federal funds, there are a few departments
that do not qualify for Work Study support. In these areas, the student employment budgets will be
100% Work Assistance, regardless of the student’s eligibility.
Student worker positions will be set at a maximum of 18 hours per week. The following formula has
been established to assist managers in planning a student employment budget:
1 position at $7.25 per hour x 18 hours per week x 30 weeks = $3,915
Please note that the above formula assumes employment only during the fall and spring terms - 15
weeks allocated for each semester. If employment is required during term breaks (summer and winter),
additional funding will need to be calculated.
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Direct Expenditures
Direct expenses are expendable items and include a number of accounts. This area includes contractual
services, professional development, travel, supplies, utilities, et cetera. Funding for all types of assets is not
included in the base budget and must be requested each fiscal year as a temporary increase.
Assets and Capital Expenditures
Asset and capital expenses include furnishings, library books, computer hardware and software, general
equipment, building improvements, and other one-time renovation/building projects. Funding for assets and
capital expenditures cannot be included in the organization’s base budget and must be requested each year a
purchase is required.
Construction
Requests for any building improvements or construction projects must accompany a completed
Project Inquiry Form. Additional information regarding procedures for projects can be obtained from
the Field Operations Project Process website.
Technology
IT Customer Support handles all computer related lifecycle management, which involves an annual
review of existing departmental laptops and desktops. Units that are at least 4 years old and out of
warranty will be eligible for replacement at no cost to the organization. Organizations are still
responsible for the purchase of new units required due to increase in personnel, the desire to change
from a desktop format to a laptop format, computer peripherals/accessories, et cetera.
In addition, the Chief Information Officer, or his designee, must approve all requests for information
systems, including all hardware and software proposals, regardless of cost. For planning purposes,
requests for quotes can be processed through the IT HelpDesk. The Faculty/Staff Service Catalog lists
the Software Quote Request under Software Services and the Hardware Quote Request under
Miscellaneous. Renewals for software should be budgeted by the department and any plans to cancel
should be communicated to IS Accounts Management.
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Budget Hearings
The purpose of the budget hearing is to provide a forum for explaining any budgetary changes requested
in the proposed budget. It is recommended that the budget request form and supporting documentation be
saved to the temporary budget drive at least five business days prior to the scheduled hearing for Budget
Analyst review. Do not e-mail proposed budget files to the analysts as the temporary drives were created for
this purpose. The review process gives the Financial Planning and Budgeting office the opportunity to
examine requests and suggest changes or prepare division leaders for possible questions that may arise during
their hearing presentation. All proposed budget documents are required to be submitted via the temporary
budget drives by the scheduled hearing date.
Format of Hearing
The Chief Financial Officer will conduct budget hearings held for each budgetary division. Also present
at each hearing will be the Executive Vice President for Human Resources, the Budget Director, and the
Budget Analyst responsible for the represented division. Division leaders are welcome to bring any support
staff necessary to assist in explaining budgetary needs. Each division is allotted up to 90 minutes to present
their budget request.
Budget Presentations
The division leader presents explanation for the budget requests during the formal budget hearing. All
requests for new funds are to be based upon strategic goals for the University and divisional areas of
responsibility.
Using the BRF as a basis, the division leader is to provide a comprehensive budget proposal for the entire
division. Each budget presentation should identify increases in personnel, capital, and operational funding
that is absolutely necessary to continue the operations of the division. Budget changes and new funding
requests must include the following:
1. Demonstrated support for one or more of the University’s visionary themes as defined in the
University’s Strategic Plan.
2. How the University will receive a return on the requested investment.
3. Report on measurable results from the use of proposed budget changes or new funding.
The division should provide paper copies of the completed BRF as well as the summary page
from the Base Budget Worksheets for each hearing attendee.
Results of Budget Hearing
Following the conclusion of budget hearings for all divisions, the Financial Planning and Budgeting office
will compile the hearing requests for the Chief Financial Officer. The Chief Financial Officer will then
review all requests for new funding with Senior Administration to prioritize the needs for the University.
Once funding adjustments have been approved at this level, the Financial Planning and Budgeting Office will
compile the University’s proposed budget for the Chancellor and Board of Trustee review and approval.
Once approved, new funding requests will be added to the designated organization’s budget and
communicated to division leaders. Finally, each division leader will communicate the approved budget to the
organization(s) for which they are responsible. Financial Planning and Budgeting will be available to assist
each division leader with this function.
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Budget Execution
It is the responsibility of the budget manager to ensure that expenses are made in accordance with the
approved budget. Each budget manager is responsible for executing appropriate documents (i.e., purchase
requisition, personnel action forms, et cetera) to use funds provided in the approved budget. Routine budget
reviews by each budget manager are encouraged. Any discrepancies must be reported in writing to the
Financial Planning and Budgeting office no later than one month following the occurrence to ensure that
timely corrections can be completed. Additional funds, or funds that are no longer needed, are to be returned
to the University immediately.
Budget Reports
Budget reports are available via the University’s online financial system (Banner). Reports are updated
continuously and budget managers and division leaders are encouraged to review these reports regularly to
ensure accuracy and proper usage of budgetary resources. The Financial Planning and Budgeting office
monitors departmental budgets on a daily basis and provides additional reports to budget managers and
division leaders when necessary to assist in managing potential issues.
Budget Adjustments
Through continuous monitoring of the operational budget, managers may find that budgeted funds need
to be realigned or repurposed. Budget managers may submit requests to realign budgeted funds to their
approval chain online through Banner. Realignment of operational funds within an organization’s budget or
division requires the approval of each budget manager affected and the division leader. A clear and concise
explanation must be provided on the description line before submitting the budget transfer. A detailed
description answering the question why funding needs to be realigned must be submitted to the Financial
Planning & Budgeting office for every transfer.
Transfers from one fund/organization to another where the initiator does not have posting authorities to
both entities can be submitted via e-mail to the appropriate Budget Analyst or by using the Request for InterFund/Org Transfer. Once approval has been given by all organizations affected, the Financial Planning and
Budgeting office will complete the transfer. The Request for Inter-Fund/Org Transfer can be obtained on
the Financial Planning and Budgeting website.
Requests to repurpose operational, capital and personnel funding must receive written approval by the
Chief Financial Officer regardless of amount or funding source. Any additional funds, or funds that are no
longer needed, are to be returned to the University immediately.
Budget Amendments and Revisions
Any request for new funds require an amendment of the organization and the University budget with the
funding source identified. It is the responsibility of each organization to formally notify the Financial
Planning and Budgeting office of any such change and to provide a budget amendment, either via email or
paper form, in the format as outlined in the Request for Budget Amendment. Any change to the University
budget requires the approval of the Budget Director and the Chief Financial Officer.
In the event that conditions require budgets to be revised by the University, the Financial Planning and
Budgeting office will notify the appropriate division of the required changes. At such time, budget managers
will be given specific instructions concerning how to adjust organizational budgets.
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Appendix A – Budget Assumptions
LIBERTY UNIVERSITY
Fiscal Year 2015-2016 Budget Planning Assumptions
Enrollment
Resident Total Enrollment
New UG = 3,800
LUCOM = 150
Overall Increase = 478
14,340
LU Online Total Headcount
97,000
Tuition and Fees
See approved rates via the Academic Program Costs website.
Housing
Occupancy count = 7,722 total beds
Annex II to go offline May 2015
 368 female students to be housed in Residential Commons II Phase A
 598 males housed at Annex I until December and moved to Residential Commons II Phase B in
January
 Residence Hall M07 to be increased 3/room (128 beds) and remain in operation through FY16
Personnel Costs
Standard benefits calculation for full-time benefitted employees increased to 22.4%
Operating Costs
Estimated Adjustments
Gasoline prices expected to be between $2.30 and $3.03 per gallon
Diesel fuel prices expected to be $3.07 and $3.50 per gallon
Academic Calendars: http://www.liberty.edu/index.cfm?PID=17813
Facilities:
Annex II coming offline May 2015
New buildings in service for Fall 2015:
- Science Hall (125,000 GSF)
- School of Music (167,000 GSF)
- Residential Commons II (232,000 GSF)
OMP cost per square foot, estimated at $5-$7
Appendix B – Example Base Budget Worksheet
Liberty University - FY 2015-2016 Budget Planning Worksheet
Index
Fund
Orgn
Prog
PR-Banner Training
Resident Undergraduate
Banner Training
Institutional Support
C1
Account
Number
1Z1000
111102/111101
Z1000
60
C2
C4
C5
C6
C7
C8
C9
C10
Account Description
FY 2011-2012
Actual
Transactions
FY 2012-2013
Actual
Transactions
FY 2013-2014
Actual
Transactions
FY 2014-2015
Actual
Transactions
FY 2015-2016
Original
Base Budget
FY 2015-2016
Adjusted
Base Budget
Substantiation
-
-
Revenue:
Tuition & Fees
5100
5110
Revenue - Tuition
511001
Tuition
511098
Tuition - Deferred Revenue
5120
Revenue - Mandatory Fees
512001
Mandatory Fees
512098
Mandatory Fees Deferred Revenue
Total Tuition & Fees
Contra Revenue
5200
5210
Contra Revenue-Scholarship
521001
Contra Applied Scholarship
521098
Contra Applied Scholarship Def Rev
5220
Revenue-Contra Instituional
522001
Contra Revenue-Discount
522098
Contra Revenue-Discount Def Revenue
5230
Contra Revenue-Refunds
523001
Contra Revenue-Refunds
Total Contra Revenue
as of 10/31/14
(18,000)
(18,000)
(19,500)
(19,500)
(27,000)
(27,000)
(7,500)
(7,500)
(30,000)
(30,000)
-
Contributions
5300
5310
Revenue-Contributions-Cash
531001
Athletic League Distribution
531002
Athletics Third Party Support
531003
Planned Giving Donations
531004
Matching Gifts- Individual
531005
Matching Gifts- Corporations
531006
General Donations
531007
Gift Portion of Sponsorship
5320
Revenue-Contributions-Non-Cash
532001
Non-Cash Contributions
5330
Revenue-Endowment Income
533001
Scholarship Income
533002
Annuity Contributions
533003
CRUT Contributions
533004
Endowment Revenue
Total Contributions
-
-
-
-
-
-
Grants & Contracts
5400
5410
Revenue-Grant Revenue-Federal
541001
Federal Grant Revnue
5420
Revenue-Grant Revenue-State
542001
State Grant Revenue
5440
Revenue-Grant Revenue-Private
544001
Private Grant Revenue
Total Grants & Contracts
-
-
-
-
-
-
-
-
-
-
-
5500
550001
Interest/Dividend Revenue
Interest Income
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1Z1000
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C1
Account
Number
550002
550003
550004
5600
560001
560002
560003
5700
570001
570002
570003
570004
570005
570006
570007
570008
570009
570010
570011
570012
570098
C2
C4
C5
C6
C7
C8
C9
C10
Account Description
FY 2011-2012
Actual
Transactions
FY 2012-2013
Actual
Transactions
FY 2013-2014
Actual
Transactions
FY 2014-2015
Actual
Transactions
FY 2015-2016
Adjusted
Base Budget
Substantiation
Dividend Income
Spendable Income Distribution
Income Returned to Principle
Total Interest/Dividend Revenue
-
-
-
-
FY 2015-2016
Original
Base Budget
-
Realized and Unrealized Gains
Realized Gains and Losses
Unrealized Gains and Losses
Investment Amortization/Premium
Total Realized & Unrealized Gains
-
-
-
-
-
-
Auxiliary Services
AUX-Mandatory Fees
AUX-General Donations
AUX-Rental Revenue
AUX-General Sales Revenue
AUX-Commissions
AUX-Room & Board
AUX-Camp Income
AUX-Non-Mandatory Fees
AUX-Fines
AUX-Discounts for Ski Slope
AUX-Sponsorships
AUX-General Advertising
AUX-Auxiliary Deferred Revenue
Total Auxiliary Revenue
-
-
-
-
-
-
-
275
-
50
-
-
-
Other Sources
5800
5810
Revenue-Advertising
581001
General Advertising
581002
Sponsorships
5820
Revenue-Rental
582001
Rental Revenue
5830
Revenue-Sales
583001
General Sales Revenue
583002
Ticket Revenue
583003
Programs Revenue
5840
Revenue-Commissions
584001
Commissions Revenue
5850
Revenue-Room & Board
585001
Room & Board Revenue
5861
Revenue-Non-Mandatory Fees
586101
Non-Mandatory Fees
586102
Course Fees
586198
Non-Mandatory Fees Def Rev
5862
Fines & Replacement Charges
586201
Fines
586202
Key Replacement Fee
5890
Revenue-Miscellaneous
589001
Cash Discounts
589002
Royalty Revenue
589003
Athletic Guarentee
589004
Gain/Loss on Sale of Asset
589005
Contract Penalty Recovery
589006
Warranty Recovery
589007
Federal Admin Allowance
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C1
Account
Number
589008
589009
589010
589011
589099
C2
C4
C5
C6
C7
C8
C9
C10
Account Description
FY 2011-2012
Actual
Transactions
FY 2012-2013
Actual
Transactions
FY 2013-2014
Actual
Transactions
FY 2014-2015
Actual
Transactions
FY 2015-2016
Original
Base Budget
-
FY 2015-2016
Adjusted
Base Budget
Substantiation
Dues Revenue
Indirect Cost Recovery
Foreign Currency Exchange Gain/Loss
Rev from Investments - Subsidiaries
Other Revenue
Total Other Sources
Change in Split Interest Agreements
Change VAL in Split Interest Agrmnt.
Total Split Interest Agreements
Total Revenue
5900
590001
Labor:
Payroll
6100
6110
Employees-Benefited
611004
Faculty Overhead
611005
Benefited Overtime
(18,000)
275
(19,225)
50
(26,950)
-
-
-
25
25
25
123
123
123
Direct Expenditures
Contractual Services
7100
7110
Professional Fees
711001
Audit Fees
711002
Legal Fees
711003
Commissions
711004
Royalties
711005
Consulting Fees
711006
Honorariums
711007
Professional Health Services
711008
Engineering Fees
711009
Architectural Fees
711098
Allocated Services
711099
Other Professional Fees
-
-
-
Total Labor
7120
712001
712002
712003
712004
712005
Contracted Services
Service Contracts
Maintenance Contracts
Food Services
Security Services
Printing-Non-Advertising
(7,500)
(30,000)
-
-
as of 10/31/14
-
Employee Professional Fees
Overtime-Non-Benefited
Total Payroll
611010
612004
-
-
-
96
96
96
50
50
50
-
-
Overtime expense for one hourly
employee. Reducing amount due to
historical need, but leaving $50 for
50 possible overtime hours.
50
50
as of 10/31/14
-
-
-
-
-
Historically budgeted these services for
external training of budget managers.
However, we have not used these
funds for 3 years. Removing from
budget
General printing, approx. $35/month per
person; 14 employees = $5,880
3,537
Z:\Budget\FY16\FY16 Budget Planning\FY16 Base Budget Worksheet_Example
1Z1000
3,588
2,926
Page 3 of 7
467
10,720
Printing of training materials, as
needed, $4000 - based on 5/12 quote
received by Printing Svcs for 100
9,880 training manuals.
12/10/2014
3:49 PM
C1
Account
Number
712006
712007
712008
712009
712010
712011
7130
713001
713002
713003
713004
713099
7140
714001
714002
714003
714004
7150
715001
C2
C4
C5
C6
C7
C8
C9
C10
Account Description
FY 2011-2012
Actual
Transactions
FY 2012-2013
Actual
Transactions
FY 2013-2014
Actual
Transactions
FY 2014-2015
Actual
Transactions
FY 2015-2016
Original
Base Budget
FY 2015-2016
Adjusted
Base Budget
Substantiation
Subscriptions-Printed
Athletic Game Guarantees
Postage/Shipping
Software License Renewal
Inbound Freight
Rental & Leases
Equipment Rental & Leases
Building/Land Rental & Leases
Vehicle Rental & Leases
Multi-Media Airtime
Other Rental & Leases
Advertising
Advertising
Printing-Promotional Materials
Registration & Entrance Fees
Other Promotional Items
Repair & Maintenance Services
Repair & Maintenance Services
Total Contractual Services
Professional Development & Travel
7200
7210
Professional Development
721001
Conference & Course Fees
721002
721003
721004
Subscription for web-based Banner
training - renewing only 1 Banner Suite
Subscription to aid in training materials.
All other subscriptions will be dropped
due to lack of use.
Electronic Subscriptions
Professional Memberships
Certification & License
Professional Resource Materials
-
0
0
-
4,000
-
3,537
698
4,286
2,927
467
14,720
-
-
-
-
-
4,209
-
3,315
-
3,610
-
125
-
5,350
-
Vendor: Ellucian
4,000 Cost: not to exceed $4,000
Software Licence for ABC software that
will be renewed annually; funded by a
permanent budget amendment
1,500 J0012345 1/10/2014
15,380
Sungard HE Summit conf. fee, 2
attendees @ $1000 each;
CBMI conf. fee, 4 attendees @ $500
each;
NCAA-NACUBO Conf. - 1 attendee @
$375 each.
Misc. local seminars, $325 each,
5,350 typically 3 events per year
Various print resources:
1-3 books per year @ $25 each; Internal
Auditor magazine $60
7220
722001
Travel
Travel- Business/General
305
-
Z:\Budget\FY16\FY16 Budget Planning\FY16 Base Budget Worksheet_Example
1Z1000
14,466
-
7,300
-
Page 4 of 7
-
4,135
-
Did not carry over Ellucian subscription
in this line as a professional resource
since we will use only one subscription
as a tool to build training materials.
Funding placed in electronic
135 subscription line item.
12/10/2014
3:49 PM
C1
Account
Number
C2
C4
C5
C6
C7
C8
C9
C10
Account Description
FY 2011-2012
Actual
Transactions
FY 2012-2013
Actual
Transactions
FY 2013-2014
Actual
Transactions
FY 2014-2015
Actual
Transactions
FY 2015-2016
Original
Base Budget
FY 2015-2016
Adjusted
Base Budget
Substantiation
722002
Travel- Professional Development
722003
722004
722005
Travel- Recruitment
Travel- Team
Travel- Host
Total Professional Development & Travel
Supplies
7300
7310
Supplies- Educational
731001
Instructional Supplies
731002
Educational Textbooks
7320
Supplies- General
732001
Office Supplies
732002
732004
732098
732099
Medical Supplies
Athletic & Recreational Supplies
Inventoriable Supplies
Other Supplies
5,531
10,046
5,064
22,845
6,848
17,758
4,199
4,324
15,000
24,485
-
-
-
-
-
1,465
-
1,038
-
2,785
-
482
-
3,200
-
Sungard Summit - 2 attendees @
$2,500 each;
CBMI - 4 attendees @ $2,000 each;
NCAA-NACUBO Conf. - 1 attendee @
12,500 $2,000 each.
17,985
$200/person general allocation; 14
2,800 employees
FP&B Training shirts estimated at $30
each; 14 employees, 2 shirts each
Mountain Springs contribution to
Accounting's water cooler they share
780 with us - estimated at $30/month
150
1,615
68
1,105
1,113
3,898
482
1,300
4,500
3,580
Utilities
7400
7410
Plant Utilities
741001
Electric
741002
Gas/Heat
741003
Refuse & Waste
741004
Water & Sewage
7420
Communication Utilities
742001
Mobile Communications
742002
Telephone
742003
Internet
742004
Satellite
Total Utilities
-
-
-
-
-
-
Miscellaneous
7600
7610
Financial Institution Fees
761001
Bank Fees
761002
Credit Card Fees
761003
Currency Exchange
761004
Fines & Penalties
761005
Cash Overages/Shortages
761006
Investment Fees
7620
Interest Expense
762001
Interest Expense
7631
Taxes
763101
Property Taxes
763102
Other Taxes
-
-
-
-
-
7330
733001
Repair & Maintenance Supplies
Repair & Maintenance Supplies
Total Supplies
Z:\Budget\FY16\FY16 Budget Planning\FY16 Base Budget Worksheet_Example
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12/10/2014
3:49 PM
C1
Account
Number
C2
C4
C5
C6
C7
C8
C9
C10
Account Description
FY 2011-2012
Actual
Transactions
FY 2012-2013
Actual
Transactions
FY 2013-2014
Actual
Transactions
FY 2014-2015
Actual
Transactions
FY 2015-2016
Original
Base Budget
-
FY 2015-2016
Adjusted
Base Budget
Substantiation
7632
763201
763202
763299
Permits & Licenses
Permit Fees
Licensing Fees
Other Government Fees
7640
764001
764002
764003
7690
769001
769002
769003
769004
769005
769006
769007
769008
769009
769016
769017
769023
769024
Insurance
Insurance Expense
Deductible Expense
Workers Compensation
Other Expenditures
Donations
Benevolence
Institutional Memberships
Annuity Benefits Expense
Inventory Variance Expense
Bad Debt Expense
Game Day Expenses
Awards
Club-Agency Transaction
Student - Off Campus Allowance
Student Account Error Adjustment
Bond Issue Expense
Departmental Events & Celebrations
769025
Business Meal Expenses
Total Miscellaneous
Total Direct Expenditures
Capital Assets and Depreciation
Non-Capital & Capital Expenditures
7900
7910
Non-Capital & Capital Expenditures
791001
Land
791002
Land Improvements
791003
Infrastructure Improvements
791004
Recreational Outdoor Facility
791005
Building
791006
Building Improvements
791007
Leasehold Improvements
791008
Equipment
791009
AV Equipment
791010
Medical Equipment
791011
Furniture
791012
Computer Hardware
791013
Software
791014
Vehicles
791015
Aircraft
732003
Small Equipment & Furnishings
769010
Library Books
769011
Construction In Progress
769012
Information Technology Projects
769013
Microfilm
769018
CIP - Equipment
769019
CIP - Furniture
769020
CIP - Software & Computer
769021
Electronic Library Books
-
-
-
-
-
-
16
-
91
-
48
-
15,197.77
174
174
28,410
349
365
24,947
91
5,364
375
423
44,128
2,062
-
5,548
-
28,406
-
1,228
-
-
Z:\Budget\FY16\FY16 Budget Planning\FY16 Base Budget Worksheet_Example
1Z1000
Page 6 of 7
Driving records required for approved
drivers program, estimated for 6 drivers
48 at $8 each
You Matter Initiative - 14 employees @
350 $25 each
398
37,343
12/10/2014
3:49 PM
C1
C2
Account
Number
Account Description
Total Capital Assets
Depreciation Expense
7940
79400
Depreciation Expense
794000
Legacy-Depreciation Expense
794001
Depreciation Expense
Total Depreciation Expense
Contra Expense
7999
7999
Contra Expense
799999
Contra Capital - Plant
Total Contra Expense
Total Capital Assets and Depreciation
Total Expenses
C8
C9
FY 2011-2012
Actual
Transactions
2,062
C4
FY 2012-2013
Actual
Transactions
5,548
C5
FY 2013-2014
Actual
Transactions
28,406
C6
FY 2014-2015
Actual
Transactions
1,228
C7
FY 2015-2016
Original
Base Budget
-
FY 2015-2016
Adjusted
Base Budget
-
-
-
-
-
-
-
2,062
5,548
28,406
1,228
-
-
17,260
33,983
53,477
6,687
44,178
37,393
265,503
Z:\Budget\FY16\FY16 Budget Planning\FY16 Base Budget Worksheet_Example
1Z1000
Page 7 of 7
0
C10
Substantiation
0
12/10/2014
3:49 PM
Appendix C – Budget Request Form (BRF)
Fiscal Year 2015-2016 Budget Request Form (BRF)
Request Summary
Revenue
Division/School Name:
Senior Admin. Area:
Total Revenue
Scholarships
Date of Budget Hearing:
Contact Person:
Total Scholarships
New Faculty
New Staff
Faculty/Staff Adjust
Student Employees
Operations
Assets
Construction/Technology Projects
Total Expenses
Notes:
1) Please place cursor over column headings below for detailed instructions
2) Complete only one form per division
3) Save the completed BRF to the temporary budget drive prior to your hearing date
C1
C2
C3
Priority
Index #
Organization Name
C4
Request Type
New Staff
C5
Acct Code
C6
Duration
various
791012
791008
732099
791011
712005
732001
721004
769024
5
Revenue
5
Operations
570004
769008
712003
Z:\Budget\FY16\FY16 Budget Planning\FY16 Budget Request Form_Example
CONFIDENTIAL
Both
C7
Narrative Description and Substantiation
New Position Title:
Action Number:
Annual Salary: $
Benefits: $
Computer: $
Telephone: $
Network Drop: $
Furniture: $
Printing: $
Office Supplies: $
Prof. Dev.: $
You Matter: $25/employee
$1,250.00
$1,250.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$1,000.00
$0.00
$0.00
Important Links
Budget Planning Guidelines
Financial Planning and Budgeting website
Project Policy Website
Three-Year Strategic Plan (2014-2017)
FOAPAL training handouts:
Index Code Assistance
Account Codes & Definitions
Commodity Codes & Definitions
$1,000.00
C8
C9
FY16 Adjustment
Link to Strategic Plan
Permanent Revenue Neutral Request (example)
Anticipated increase in Banquet ticket sales from
100 to 150 attendees. Ticket cost is $25
Base Budget: $2,500
Increase: $1,250
1,250.00 Advancing Academic
Reputation
CAS: 2.7
Permanent Revenue Neutral Request (example)
Increasing advertisement and food expenses for
anticipated increase in attendees
1,000.00 Advancing Academic
Reputation
CAS: 2.7
Doorprizes: $250
Catering: $ 750
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1971 University Boulevard • Lynchburg • Virginia 24515
Web Site: http://www.liberty.edu