1. FY2008 Budget Preparation Training

4. OVERVIEW

9. Changes in FY2008 1. Line item budgets Current 610000 – Salaries and Wages 620000 – Employee Benefits FY2008 611000 – Faculty Salaries 611100 – Staff Salaries 611700 – Classified Wages 621100 – Kentucky Teachers Retirement 621200 – KTRS Overmatch Contribution 621300 – Optional Retirement

10. Changes in FY2008 (cont) 700000 – Operating Expenses Current 71000B – Supplies 710400 – Equipment Repairs 710800 – Office Supplies 75000B – Travel 750010 – Travel In State 750020 – Travel Out of State FY2008 2. Pooled budgets

12. BUDGET CYCLE

13. Two Components of Budget Cycle Preparation July to December All the planning is prepared during the first six months. Scenarios/Assumptions are developed. Execution January to June Budget is entered and reviewed. There will be several iterations of the budget. Scenarios/Assumptions that were developed in the first half of the cycle might have changed.

14. Budget Cycle Board of Regents Approval of budget guidelines Units submit proposals for funding requests Unit Budget Hearings Funding notification to Units Units enter budgets Budget guidelines developed Complete preliminary forecast Update analytical tools and prepare budget assumptions June May April March February January December November October September August July Final budget approval by Board of Regents

15. Timeline *This form goes directly to HR **This form goes directly to Facilities Dec 21, 2006 Nov 16, 2006 c. Temporary and Permanent Funding Proposal Requests Dec 1, 2006 Nov 1, 2006 b. Request for Facilities Changes Proposals** Dec 8, 2006 Nov 1, 2006 a. Non-capital Proposal Requests Funding Proposals Dec 21, 2006 Nov 2, 2006 d. Reorganizations/Restructing* Dec 21, 2006 Nov 2, 2006 c. Position reclassifications* Dec 21, 2006 Nov 2, 2006 b. Proposals for new positions* Dec 21, 2006 Nov 17, 2006 a. Unit position base verification Position Base Nov 30, 2006 Oct 31, 2006 b. Revenue projections Nov 30, 2006 Oct 31, 2006 ii. Non mandatory Nov 30, 2006 Oct 31, 2006 i. Mandatory a. Fee proposal process Revenue Base Nov 17, 2006 Capital Pool Proposals Dec 21, 2006 Nov 1, 2006 Distribute Auxiliary Budget Packets Nov 1, 3, 8, 10, 16 Budget Preparation Training DUE DISTRIBUTE

16. Document Flow Financial Manager Dean Provost Financial Manager Vice President Office of Budgeting Academic Non-Academic Unit=Organization Group=Direct Reports to President Manager, Director, Assistant Vice President

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18. PREPARATION

20. Revenue Revenue is defined as a stream of income that comes into the University. It can be broken down into several categories. State appropriation Tuition Government grants and contracts Mandatory fees Non mandatory fees

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30. THE PROCESS

31. Now I know the components, what do I do? Forms Forms Forms Forms Forms Forms Forms Forms Forms Forms Forms

32. www.financialaffairs.eku.edu/budget/forms/ Website

33. Forms 1. Capital Request 2. Fee Request 3. Reclass/New Position Request 4. Non Capital Request 5. Request for Facilities Changes 6. Temporary and Permanent Funding Requests

34. QUESTIONS?

35. Contact Karen Neubauer Executive Director of Budgeting 622-4642 [email_address] Emily Fogg Budget Analyst 622-4642 [email_address] www.financialaffairs.eku.edu/budget [email_address]