Budget Planning and Analysis
The Office of Budget Planning and Analysis (BPA) is responsible for coordinating the annual University budget process, collecting and analyzing data to support the annual budget presented for Board approval, and monitoring the University budget/forecast throughout the fiscal year. We provide support to planning units on the development of their budgets through models, guidance, and budget tools.
Our office also provides operational support to the university by creating and maintaining certain Responsibility Centered Management (RCM) Allocation journal entries, processing budget transfers, and original budget corrections when needed. We also provide direct support to the Budget Partner Group and Budget Planning Council with information and reporting as needed.
Annual Budget Process
The annual budget process begins in September with the release of updated models, guidance, and tools for planning units to utilize in the development of their annual budget. Using our guidance, and unit specific knowledge, planning units provide financial forecasts for the current year, a budget for the following year, and forecasts for three additional years. These materials are returned to our office in October, at which point BPA staff review and compile the University budget. Financial review meetings provide planning units and leadership the opportunity to review the projected financial forecasts and budget projections.
After the Fall financial review meetings are complete, our office, in conjunction with leadership, will revise the planning assumptions and guidance. This revised guidance is provided to planning units in January/February. Planning units are then asked to revise their current year forecast and future year’s budgets for re-submission in March.
After the Spring budgets are compiled, leadership will make final budget decisions communicate any changes to planning units. Final budgets are then “locked down” in April/May. Our office prepared the final budget recommendations in the form of the Budget Book, and submits it to the Board of Trustees for approval in June.
For a visual representation of these dates, please view our Budget Process Timeline (PDF).
Journal Entries and Budget Transfers
Allocation Entries: Journal entries that are provided (or charged) to units on a monthly or quarterly basis that are tied to the annual budget process. These entries are associated with the budget guidance that establishes both revenue and expense allocations associated with RCM. Once established, these amounts rarely change. Some examples include State Share of Instruction (SSI), certain categories of undergraduate tuition, and allocated costs.
Non-Allocation Entries: Journal entries that our office completes that are based on actual financial activity for the university. Unlike the Allocation Entries, these journal entries are variable amounts and can change. Examples include certain graduate tuition amounts, Federal Work-study cost share, and some internal award funding.
Journal entries take place on a set schedule each year. These dates can be viewed in our Journal Entry Schedule (PDF).
Budget Transfers: Because the annual budget is set in May, there are times when units need to realign budgets to be more reflective of changes that can occur throughout the year. These changes are done through “Budget Transfers”. Units can submit a Budget Transfer form [Excel] to our office. We will review them, and (if approved) will complete the requested transfer. For more information on these transfers, please see our guidance within the Budget Transfer form.
The BPA office is responsible for coordinating the annual University budget process, collecting and analyzing data to support the annual budget presented for Board approval, and managing and monitoring the University budget throughout the fiscal year. The office works closely with the Provost's office, Finance, and planning units regarding University budget and planning.