The Catholic University of America
FY 2017 OPERATING BUDGET SUBMISSION GUIDELINES
for
RESERVE FUNDS (18, 19 & non-endowed 51)
Reserve funds are designed for schools and departments to use for unique, one-time, non-recurring expenses or to defray the cost of unanticipated events. There are three types of reserves funds: unrestricted (Fund 18), designated (Fund 19) and donor restricted (Fund 51). These guidelines and the attached template will assist program managers with preparing budget submissions for reserve funds. Each School or Department should submit an initial budget to the University Budget Office that reflects the proposed financial plan for the Fiscal Year that is currently being budgeted.
For the Fiscal Year 2017 budget planning, all reserve budgets are due to the University Budget Office on or before Friday, January 29, 2016 at 12p.m.
OPERATING EXPENSES:
Salary and Benefits - Reserve funds can only contain temporary faculty or staff salaries, as a reserve fund does not provide a permanent, on-going source of funding for staff positions. A start and end date will be required for all salaries and benefits funded from a reserve fund. Please provide the details of the use of the funding on a separate sheet and attach to the file. The information must include:
Temporary Faculty (# FTE, Salary, and Benefits): the start date and end date for each position, the cumulative number of full-time equivalent faculty needed to support the program for the Fiscal Year, include the related salary and fringe benefit expenditures.
Temporary Administrative Staff and/or Support Staff (# FTE, Salary, and Benefits): the start date and end date for each position, the cumulative number of full-time equivalent administrative staff needed to support the program along with the related salary and fringe benefit expenditures.
The benefit rates for Fiscal Year 2017 are as follows:
· 0100, 0101 and 0121 for temporary full-time faculty salaries 23.75% = .2375
· 0110 and 0113 for Grad RA & TA stipends 1% = .01
· 0170 and 0171 for temporary full-time staff salaries 23.75% = .2375
· 0200 for part-time staff 10% = .10
· 0220 for part-time students 1% = .01
· 0230 for work-study students 0%
· 0240 for part-time summer maintenance 10% = .10
· 0250 for private music instructors 10% = .10
· 0270 for part-time lecturers 10% = .10
· 0500, 0510 and 0520 for overtime 10% = .10
E.g., If your budget is for $50,000 in staff salaries (0170)) and $20,000 in part-time students (0220), then your fringe benefits would be ($50,000 x .2375) + ($20,000 x .01) = $12,075.
Other Expenses - Enter other expenditures required for the program. Provide a descriptive narrative in the footnotes area located on the bottom of the budget submission form. The types of expenditures categorized as other expenses include:
· office supplies· other materials and supplies
· postage and freight
· data processing
· communication
· telephone service
· professional services and consulting
· advertising and promotion
· equipment/equipment maintenance / · hardware, software
· travel
· postage
· printing
· rental
· legal expenses
· memberships
· insurance
Inter-fund Transfers – Represents the amount that will be used “From” the reserve org to fund activities in central university operations or other budget shortfalls in other budgeted funds (i.e. amounts transferred from fund 11 to 19 and vice versa). A detailed explanation for the inter-fund transfer should be submitted with the request.
Intra-Fund transfers – Represents the amount that will be used “From” one org within a fund to another org within that same fund. (i.e., amounts transferred from an org (A) within fund 19 to an org (B) within that same fund 19). A detailed explanation for the intra-fund transfer should be submitted with the request.
Capital expenditures - Enter the total amount of capital expenditures that you anticipate spending from the reserve fund. This amount should correspond to the amount that has been submitted on the current year budget Capital Request forms.
REVENUE
Tuition and Fee Revenue - Enter the estimated tuition and fee revenue that will be directly attributable to students enrolled in the program for Fiscal Year 2017. The revenue should be calculated by multiplying the tuition rate by the projected annual FTE student enrollment. Include supporting information in the line provided on the budget submission sheet, which includes descriptions of the tuition and fees charged.
Tuition Discounting - Enter the amount of funding that will be used from the reserve fund for scholarships. Provide a detailed explanation for the amount requested.
Grants and Contracts - Enter the amount of indirect cost recovery, which will be available as a source of revenue for the reserve fund for the Fiscal Year. Provide detailed information on the sources of the funding.
Other Sources - Enter any additional funds from other sources specifically designated for the program. Provide documentation on the source and type of revenue. Some examples of this type of revenue source are as follows:
· Endowment payout· Other revenues / · Gifts (restricted, unrestricted)
· Auxiliary operations
Instructions for Running “BudMemo4” (a PeopleSoft nVision Report)
1. In PeopleSoft, log in to Cardinal Financials
2. Proceed with the following navigation on the left side menu:
Reporting Tools
PS/NVision
Define Scope
3. Under Scope Definition, Find an Existing Value:
a. Set ID = Defaults to “CUA”
b. Report Scope = enter “BudMemo4” for Funds 18 and 19 (Reserves)
c. Click on ‘Search’
d. Once the new screen Scope Definition opens:
i. Select Value = enter six digit org/deptID number
ii. Click “SAVE”
iii. On the same screen, Click on “Report Request” button
e. Once the new screen ‘nVision Report Request’ opens:
i. Under the section ‘Report Date Selection’ specify date = click on “today’s date”
ii. Click on “save” button
iii. Click on “run report” button that appears right above the ‘Save’ button
4. New screen opens up under the ‘Administration’ tab
a. Click “refresh” button to update the screen until report runs and the status is ‘Posted’
b. Tab down to appropriate report title and click on title
c. The report will open up in Excel
5. Enter the budget figures for the Fiscal Year expense and revenue budget under the Fiscal Year 2017 budget column
6. Make sure you save the file on to your hard drive and regularly ‘SAVE’ as you are inputting budget figures in the EXCEL template and when input is complete.
If you have any questions, please contact the Budget Office: http://treasurer.cua.edu/budget.cfm
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