FY 2015 BUDGET AND BUSINESS PLANNING CALENDAR

KEY:

Yellow / Preparation and planning
Green / Budget and Planning Committee Meeting
Gray / Review and approval by University President; Review by Finance Committee Chair
Blue / Board of Trustees (BOT) Meeting
Purple / Department deliverable due to or from the Budget Office
White / HR review and analysis
Orange / Critical deadlines

DATEUNIVERSITY BUDGET COMMITTEE

September 2013 /
  • Provost/Vice Presidentsshould notify their respective Departments to submit budget requests for consideration during the FY 2015 Budget process. (submission to Provost/VP)
  • Housing, Food Service, Institutional Insurance and Pryzbyla Center operations prepare FY 2015 budget presentations
  • Graduate enrollment data should be solicited from the Deans via Provost Office
  • Vice President of Enrollment Management estimates the size of the Fall 2014freshmen class
  • Graduate and Undergraduate financial aid operating budget requirements need to be identified for the FY 2015 budget
  • Begin planning for capital needs and identify available departmental capital funding as follows:
  • Coordination as needed and appropriate with the Associate Vice President of Facilities Operations and Chief Information Officer to develop 3-year plan which includes deferred maintenance and supports Master Plan and Strategic Plan
  • Provost/Vice Presidents to identify capital needs, including IT-related

September 28 – October 6, 2013 /
  • Provost/Vice Presidentsreview and prioritize mandatory increases and capital requests and available departmental capital funding for presentation to the University Budget Committee

Meeting 1
October10,2013
1:00 to 2:30 pm
Leahy 260 / Budget Meeting
  • Review tuition projection and assumptions – Wood
  • Admission presentation and discussion of tuition, discounting and enrollment recommendations– Hendricks
  • Discussion of retention and discounting recommendations – Hendricks
  • Graduate enrollment presentation and discussion of Graduate enrollment recommendations – Brennan
  • University fee presentation and recommendations – Hendricks,Wood, Brennan

Meeting 2
October17, 2013
1:00 to 2:30 pm
Leahy 260 / Budget Meeting
  • Develop FY 2015 mandatory requests, operating and capital budgetsalong with available funding resources
  • Presentations:
  • Provost - Brennan
  • Finance, Technology Services and Facilities – Wood
  • Enrollment Management - Hendricks(includes housing, Pryzbyla and summer conferences)

Meeting 3
October 24, 2013
1:00 to 2:30 pm
Leahy 260 / Budget Meeting
  • Development of FY 2015 operating and capital budgets along with available funding resources
  • Presentations:
  • President’s Office – Persico
  • Student Affairs - Allen
  • Institutional Advancement(including FY2015 revenue projection)- Hannan

Meeting 4
October 31, 2013
1:00 to 2:30pm
Leahy 260 / Budget Meeting
  • Review Pro Forma
  • Discussion on salary and wage options
  • Review consolidated mandatory increases
  • Review consolidated capital and deferred maintenance requests
  • Finalize tuition, fees, room and board rates

Meeting 5
November 7, 2013
1:00 to 2:30 pm
Leahy 260 / Budget Meeting
  • Prioritize budget concerns
  • Review financial impact(s)
  • Finalize Preliminary Budget

November 6, 2013 / Board Executive Committee Meeting
Meeting with President
November 2013(TBD) /
  • Presentation of proposed FY 2015 enrollment, tuition, fees, retention and discounting to the President for approval

November 2013 (TBD) /
  • Preparation of the FY 2015 Budget Presentation to Board of Trustees

November 2013(TBD)
(materials to Nugent Hall by noon for Board mailing) /
  • Board Mailing
  • Send Budget Presentation to Board of Trustees
  • Send FY 2014 six month Dashboard to Board of Trustees
  • Send FY 2014 six month operating results to Board of Trustees
  • Send FY 2014 financial projection to Board of Trustees
  • Send Income Cost Model to Finance Committee

December 9, 2013 / Presentation of FY 2015 Budgetto the Finance Committee Chair
December 9-10, 2013 / Board of Trustees Meeting
  • FY 2015 Budget Presentation
  • Presentation of FY 2014 six month operating results and financial projection

January 6 - 27, 2014 /
  • Development of the FY 2015 operating budget, including capital budget and strategic priorities

Meeting 6
January2014(TBD)
1:00 to 2:30 pm
Leahy 260 / Budget Meeting
  • Refine FY 2015 Capital Spending Requests
  • Review financial impact with strategic spending
  • Refine mandatory requests
  • Identify other required spending
  • Discuss reallocation of resources to fund strategic initiatives and capital requests

January 31, 2014 /
  • Submission of Fund 12 Budgets, including New Fund 12 proposals, toBudget Office

Meeting with President
January 2014(TBD) /
  • Present FY 2015 budget to the President for approval

January 15, 2014 / Board Executive Committee Meeting
January 6 – February 14, 2014 /
  • Prepare FY 2015 Budget Book
  • Preparation of budget presentation for BOT
  • FY 2014 nine month Dashboard completed for BOT
  • FY 2014 nine month operating results completed for BOT
  • FY 2014 financial projections developed for BOT

February 7, 2014 /
  • Preliminary FY 2015 Budget guidelines and instructions distributed to the University community

February2014 (TBD)
(materials to Nugent by noon for
Board mailing) /
  • Board Mailing
  • Send FY 2015 Budget Book to Board of Trustees
  • Send FY 2015 Budget presentation to Board of Trustees
  • Send FY2014nine month Dashboard to Board of Trustees
  • Send FY 2014 nine month operating results to Board of Trustees
  • Send FY2014 financial projection developed to Board of Trustees

March 17-18, 2014 / Board of Trustees Meeting
  • Presentation of FY 2014 nine-month operating results and financial projection
  • Final Approval of the FY 2015 Operating Budget

March 31, 2014 /
  • FY 2015 Salary Spreadsheets
  • PeopleSoft position budgets due to the Budget Office /entered into financial system for approval
  • FY 2015 General Fund (11) Budgets submitted to Budget Office for review, reconciliation, and approval
  • FY 2015 Reserve Fund (18,19) Budgets submitted to Budget Office for review, reconciliation, and approval

April 30, 2014 /
  • FY2015budgets uploaded into the financial system provided they are received by March 31, 2014 in the Budget Office

May 1, 2014 /
  • First day of Fiscal Year 2015

April 15 – June 15, 2014 /
  • Staff evaluation completion - submit to HR

June 15 – June 28, 2014 /
  • Provost Office approves faculty salary action; submit to HR
  • Division VPs complete staff salary action plan; submit to HR

July1 – August 31, 2014 /
  • HR reviews staff salary action plan submissions for completeness, conducts compression analysis; Processes Employee Data Forms (EDFs); updates HR system

September 1, 2014 /
  • Faculty merit pay action effective
  • Staff merit pay action effective

1 FY2015 University Budget and Business Planning Calendar Modified Date: 10/9/18