Services

Service Activity Budget Center Responsibilities
Develop Operating Budget
  • Develop department and school/unit budget
  • Draft budgets and assumptions, and outline risks and opportunities to enable budget owners at the school/unit level to make informed, strategic decisions
  • Prepare budgets for EAD/VP approval
  • Facilitate discussions around financial risks and opportunities, and incorporate budget updates from university leadership
  • Compile university budget
  • Work with Finance & Planning to develop university budget for executive and board approval. Assist in processing university-wide adjustments as necessary
  • Prepare position budgeting
  • Ensure all compensation is accurately budgeted by funding source
Develop Quarterly Forecast
  • Develop department and school/unit forecast
  • Incorporate assumptions, draft forecast, and outline risks and opportunities
  • Compile university forecast
  • Work with Finance & Planning to develop university forecast for presentation to executive leadership and the Board of Trustees.
Monitor Budget
  • Perform analytics
  • Track and analyze trends in expenses and revenues
  • Monitor performance
  • Encourage stewardship through monitoring of variances and key spending categories
  • Monitor carryforwards
  • Monitor carryforward funds (e.g., gifts, endowments) and balances to ensure funds are being used appropriately
  • Manage chart of accounts
  • Ensure expenses and revenues align to the appropriate accounts
Provide Analytical Support
  • Perform ad hoc financial analysis
  • Assist schools and units with strategic financial analysis to support program/business goals
  • Provide special projects financial management
  • Provide financial management support of various special projects within the university
  • Best practices education and training
  • Provide education and training on budgeting best practices to university stakeholders
  • Restricted funds stewardship
  • Facilitate the appropriate use of restricted funds and related reporting
Perform Capital Budgeting
  • Develop capital budgets
  • Develop and refresh 5-year school-level capital budgets and ensure funding availability for deferred maintenance
  • Submit Capital Expense Authorizations (CEA)
  • Process CEAs on behalf of schools and departments

 

Updated: August 3, 2015