WILLIAMS COLLEGE
WILLIAMSTOWN, MASSACHUSETTS 01267
CONTROLLER’S OFFICE
P.O. Box 67
November 2014
TO:
Budget Managers
FROM:
Todd Hoffmann, Budget Director
SUBJECT:
Distinguishing Between Unrestricted Departments, Endowments, and
Gifts/ Private Grants
There are three types of budget worksheets: unrestricted department, restricted gift &
grant, and restricted endowment.1 The type is indicated at the top of the budget
worksheet. If you receive a message about macros, you can click “enable” or “disable”either is fine.
The unrestricted department worksheet is the simplest version. The current fiscal year’s
original and revised budgets have been provided. Please base the 2015-16 projection on
the current year original (base) budget.2 The percent increase/decrease for the budget
request is based on the original budget. The department’s 2013-14 actual spending has
been provided to assist your planning.
Budget Mangers are requested to spend restricted money (endowments and gifts)
before unrestricted accounts wherever possible. If the unit is experiencing increases in a
particular area, you may be able to fund a portion of the necessary increase from other
areas within the same or other accounts, including restricted funds. For revenuegenerating areas, please also include a revenue projection.
The endowment worksheet (05xxxx) includes more information. Please remember that
spending in these accounts is restricted to the purpose of the endowment. If available, a
short description of the endowment’s purpose is included below the endowment name
and number.3 The first column provides information regarding projected 2015-16
available funds.4
To the extent possible, units should plan to budget and expend the annual income
distribution in each endowed account. Doing so may require a budget reallocation
For some of the largest units, we provide one large worksheet which includes all of the PeopleSoft
departments and projects.
2 The revised budget may include one-time transfers which are not part of the base.
3 For more information on the purpose of any endowments, please contact Christina Gregory in the
Controller’s office at x4003.
4 This is an estimate to assist you with budget planning. The actual available funds may be different if
spending does not equal current year budgeted amount or additional gifts are made.
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from unrestricted accounts to endowed accounts to stay within budget parameters.
If you believe you need increased resources from these accounts to achieve your highest
priorities, please submit those requests in your budget submission. We are working
with units across campus in this ongoing effort to be responsible stewards of these
endowments.
The gift & grant worksheet (03xxxx) is structured similarly to the endowment one; it
includes projected balance information, the current year budget, and the prior year’s
total actual spending.
The major distinction between endowments and gifts/grants is that the latter category
is exhaustible. In other words, once the College has spent an amount equal to the total
gift/grants raised, Budget Managers can no longer use that account. Gifts and grants
do not receive an automatic distribution each year (unless new gifts or grants are
received).
Please also remember that spending in these accounts is restricted to the purpose of the
gift or grant. If available, a short description of the gift’s purpose is included below its
name and number.5 The first column provides the projected 2015-16 gift balance.6
Please note that the unit is approved to spend the (fiscal) budgeted amount in the gift or
grant accounts. In some cases, this amount is less than the cash balance in the account.
Please remember that certain items are not included in the annual budget process:

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Academic departments request funding for student teaching assistants and the
Class of 1960 program from the Dean of Faculty’s office as part of a separate
process.
Associate accounts (445xxx) are not budgeted as part of the annual budget
process. They are handled separately. If you need an associate account, those
requests should please be sent directly to your President’s Staff person. (e.g.
academic areas: the Dean of Faculty’s Office)
Individual faculty accounts (Div I, II, III research accounts; start-up accounts;
faculty research accounts; and professorship accounts) are not budgeted as part
of this process. Questions regarding those accounts should be posed to the Dean
of Faculty’s Office.
Federal research grants (02xxxx) are also not included as part of this budget
process. Please contact Chris Winters, Associate Provost, if you have questions
regarding those budgets.
For more information on the purpose of any gifts or grants, please contact Christina Gregory in the
Controller’s office at x4003.
6 This is an estimate to assist you with budget planning. The actual available funds may be different if
spending does not equal current year budgeted amount or additional gifts are made.
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The following information may help your budget preparation:

The College’s vehicle reimbursement rate is posted in the Controller’s Office
website under Travel & Business Expense Guidelines, Auto / Rental:
http://controller.williams.edu/travel-business-expense-guidelines/auto-rental/
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Please review the postal service website if necessary for detailed information:
https://www.usps.com/.
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Budget Managers can review the current student employment pay scale on the
Human Resources website: http://hr.williams.edu/student-employment/
pay-grades-and-rates/
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For those units which require extensive support from Dining Services and/or
Facilities, we would encourage you to contact colleagues in those units for
specific cost information which might be helpful in your budget planning.
One last detail
Regular employee salaries and benefits are centrally managed and budgeted. In some
cases, it will be appropriate for the Budget Manager to estimate salaries and benefits in
restricted accounts (gifts, grants and endowments), for the purposes of evaluating total
spending in those accounts. Please estimate restricted salary and benefits at the 2015-16
level, and the VPFA and Provost’s Office will load the actual budgets later in the budget
cycle.
Summary and Contact Information
If you would like additional information, please contact the following:
Kristan Renish, Budget and Planning Analyst, krenish@williams.edu ext. 4098
Christina Gregory, Senior Accountant, Christina.M.Gregory@williams.edu ext. 4003
Todd Hoffmann, Budget Director, Todd.J.Hoffmann@williams.edu ext. 4988
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