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The General Fund Budget

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by

Ken Smith

on 28 April 2015

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Transcript of The General Fund Budget


NO
Food

NO
Fun

NO
Fancy
Presented by

UNC Charlotte Budget Office

Conclusion
The General Fund Budget
And one more thing...
State Budget requests (including Universities) require General Assembly approval

General Assembly reviews Biennial Budget requests during the “Long Session” in odd-numbered years
What to expect:
What is the State General Fund?
The State General Fund Budget Request
Who is "The Budget Office"
The General Fund
State Budget Process
University Budget Process
UNC Management Flexibility
Budget Revisions
Budget Pools
A FUN Activity -- Don't Be Afraid
Taxes
Taxes
Taxes
Taxes
Tax
TAX
tax
tax
taxes
TAXES
TAXES
TAX
TAX
TAX
Taxes
Taxes
General Assembly can make revisions to the Biennial Budget requests during the “Short Session” in even-numbered years
The State General Fund Budget Request
UNC GA
Board of Governors
Governor's Budget
General Assembly
Board of Governor's
UNC Charlotte
Chancellor
Vice Chancellors
Deans
Dept Chairs
Admin Directors
Unit Heads
TAX
Time Line of Budgets
July 1st (or soon after)
Permanent budgets will roll from previous year into new year
Sometime Around
Aug to Nov
New allocation decisions made by executive management, which could add (
or remove
) funds to (
from
) your permanent budget
BD-607 Example
Summary
The General Fund is generated mostly by tax revenue
UNC Charlotte is part of a statewide budget allocation
Universities are fortunate to have the flexibility to reallocate resources
Budget Revisions are necessary and easy
Budget entered in budget pool accounts (end in ’000)
Expenses occur in expenditure accounts (end in other than ’000)
How Often Can I Submit
Budget Revisions?
As often as necessary when a change in plans creates a deficit ‘balance available’
Plan ahead when requesting budget revisions
Please “clean up” funds at least monthly
Additional Notes Regarding Budget Revision Forms
You may experience a delay if you transfer funds between salary & operating
HR Module
Finance Module
Additional Notes Regarding Budget Revision Forms
Make sure the increases/decreases on the budget revision form net to zero
Make sure there is sufficient budget in the fund you are decreasing - if there is not, the budget revision may be returned
Don’t forget to sign and indicate the phone number of a contact person in case the Budget Office has questions
For funds in the 115xxx range, there are 2 different program types, 151 & 152:
Look at the 4th digit in the fund number to tell the difference
1151xx-1154xx = program code 151-Libraries
1155xx-1159xx = program code 152-General Academic Support
BD-606 Example
Budget Revision Form
BD606

Using Personnel / Fringe accts (911xxx-919xxx) – this includes 915000 & 915900
Move between different program codes
Example: 101xxx and 116xxx
Using lapse salary (hold that thought)
Library (949000), Utilities (923000), Financial Aid (960XXX)
Budget Revision Form
BD606
Adjust non-personnel budget within accounts 920xxx – 952xxx
Move budget between funds if they are in the same purpose code
Example: From 101888 to 101777
Only departmental/unit level signature needed for Budget Office
Budget Flexibility Request
BD-607
Other notes:
Explanation/justification for request is required for the annual flexibility report
Form is available from Financial Services/Forms web page
Budget Flexibility Request
BD-607

Move personnel budget (911XXX, 912XXX, 913XXX, 915XXX) to non-personnel (920XXX - 952XXX) or vice versa
Move budget (personnel or non-personnel) from one program code to another
Example:
From 101444 to 115644 (Purpose 101: Regular Term Instruction to Purpose 152: General Academic Support)
UNC Management Flexibility
In 1991 the General Assembly enacted the
UNC Management Flexibility Legislation
The End
Rule of Thumb for the General Fund
FGIBAVL – View budget and expenditures summarized at the budget pool account code
for example, budget and expenditures will display together as Domestic Travel

FGIBDST – View budget in the budget pool account and expenditures in the detail account code
for example, budget will display as Domestic Travel and expenditures will display as Lodging, Ground Transportation, Meals, etc.
Where can I view my budget?
Use budget pool accounts only for setting up budgets and preparing budget revisions

After expense occurs, budget will continue to reside in budget pool account and expense will be reflected in expenditure account
Budget Pools
Budget Pools


- Ends in ‘000’ (example 926000)
Two exceptions:
914500 (premium pay budget pool) is also a budget pool account
915900 (non-student temp wage) is also a budget pool account


- Ends in other than ‘000’ (example 926070)
KEY points:
MUST use when moving temporary wage budget (915000 and 915900)
MUST have explanation
MUST have Vice Chancellor approval before sending to Budget Office
Budget Flexibility Request
BD-607
What kind of explanation is needed?
For example…
If purchasing equipment, what kind of equipment and who is it for (i.e., student labs, offices, help desk, etc.)?
If for instructional use, how does it benefit? List any academic programs involved (i.e., special lecturer series, learning community, new PhD program, etc.).
If paying for contracted services, what is it for and who does it benefit (i.e., subcontract for anesthesia program, interpreters for Disability Services, etc.)?
Additional Notes Regarding Budget Revision Forms
Lapse salary (remember from earlier?)
Perm vs. Temp (lose it today or lose it forever?)
607 vs. 606 (stress the difference)
FGIBDST displays budget info for each budget pool account separately from the expenditure accounts
Budget pool accounts = 928000, 930000
Expenditure accounts = 928190, 928270, 931100, 931950
FGIBDST
Enter 911100 in Account to view all expenditures
FGIBAVL displays budget info by budget pool account
Budget pool accounts = 920000, 925000, 927000…
FGIBAVL
Let’s Have Some Fun
How well can we give and/or receive directions?
General Fund
Source: 10/31/14 BD701
Total FY15 = $345.0M
Tuition & Instructional fees, $131.9M (38.2%)
State Appropriation, $200.0M (58.0%)
Other Revenues, $13.1M (3.8%)
All General Fund appropriations are made in the form of a single lump sum to Universities
Enables Universities to use budget revisions to reallocate resources between personnel and non-personnel accounts and between program codes
(includes creating and abolishing positions)
Budget Revisions
A request to increase or decrease budget for a fund code or an account number
Change in expenditure plan
Reallocate excess personnel budget to non-personnel or vice versa
Create or abolish positions
"Oh My Gosh!!! It seems to take forever to get my budget!"
"How do I request a Budget Revision?"
BD607
Budget Flexibility Request
http://finance.uncc.edu/forms/formshome
BD606
Budget Revision Form
http://finance.uncc.edu/forms/formshome
http://finance.uncc.edu/forms/budget-office
http://finance.uncc.edu/forms/budget-office
Budget Pools
"What is the Budget Process at UNC Charlotte?"
Made up of State Tax Revenues
Sales Tax
Individual Income Tax
Corporate Tax
Franchise Tax

Other Miscellaneous Non-Tax Revenues
"OK, I've had enough! I want to leave!"
THINGS THAT CANNOT BE DONE ON BD606
MUST use this form to:
Give as much detail as possible about budget reallocation.
- B14 vs. B15 on FGITRND (from top of Budget Revision)
Budget put into budget pool account
Expense occurs in expenditure account
UNDERSTANDING
Example: In 2013, the General Assembly convened to review and approve a Biennial Budget for fiscal years 2013-2014 and 2014-2015
Example: In 2014, the General Assembly will reconvene and make adjustments to the budget for fiscal years 2014-2015 (2nd year of the biennium)
October 20, 2015
Sherrie High
srhigh@uncc.edu
x7-5805
Ken Smith
Hong Vu
Kevin Hyatt
ksmith46@uncc.edu
x7-5599
Personnel Budget Management
Financial Analysis & Planning
Alice Patterson
Carrie Smith
x7-5003
cjhaigl@uncc.edu
Sandra Leeds
sfleeds@uncc.edu
x7-5779
From where does the $ come?
John Adams
Aux/Fee Budgets & Capital Planning
Budget-GenFund@uncc.edu
Tax
tax
tAx
tAx
tAx
tAx
tax
taxes
TAXES
taxes
The General Fund
Full transcript