Let’s dive into what exactly top-down and bottom-up budgeting is, how they differ, and how to identify which is the best approach for your organization. The ability to execute on a budgeting methodology is equally as important, if not more important, than choosing the correct methodology. Oftentimes, a budgeting process is chosen based on theoretical outcomes, but when practically applied it might not yield the best benefit.īefore undertaking any budget planning process, it is important for an organization to analyze what approach can be best executed in its current environment and attempt to balance that against its needs. These are parts of a broader process known as top-down planning and bottom-up planning. Current unrestricted surpluses should only be transferred by the Comptroller’s Office at fiscal year-end to the academic unit’s respective Provost Reserve account.When deciding on whether to implement a top-down or a bottom-up budget process, it is important for organizations to understand the differences between the two and how the organization aligns with both approaches. Additionally, schools are not permitted to pre-emptively transfer anticipated current unrestricted operating surpluses to a fund other than the Provost Reserve. Under no circumstances can Provost Reserve funds be utilized without prior written approval from the Vice Provost for Academic Operations or the Provost. Once written approval is obtained from the Vice Provost for Academic Operations, the Office of Budget & Planning will execute the Provost Reserve transaction to fund the program or project based on the information specified in the completed form and will notify the school’s senior business officer.If the form is submitted by the school’s senior business officer, then the dean should be copied in the email message. If the completed form is submitted by the dean, then the school’s senior business officer should be copied in the email message.Any other parties the school deems relevant to the request may also be included in the email communication.
BUDGET PLANNING CONTROL DOWNLOAD
Download and complete the Provost Reserve Request form provided here.Instructions for drawing down Provost Reserves are provided below. In order for Provost Reserve funds to be utilized, academic units must seek and obtain approval from the Provost’s Office. Provost Reserve funds are available for one-time expenses and are not a funding source for on-going operating costs, such as salaries and wages. Unused Provost Reserve balances roll forward from year-to-year, available to support schools’ academic missions.
The purpose of Provost Reserves is to provide units a source of funding for strategic initiatives such as faculty start-up costs, capital construction, facility improvements, new program launches, etc. Under responsibility center management, annual surpluses generated from an academic unit’s current unrestricted activities belong to the academic unit and are accumulated under the program work tag known as Provost Reserves. More information on budget changes requiring central approval can be found on the Comptroller’s website. Once the General Purpose Workflow Document is submitted, the budget amendment form will be reviewed by both the Comptroller’s Office and OBP, and if approved, the budget amendment will be processed and reflected in the general ledger. When completing the General Purpose Workflow Document, under Ad Hoc Recipients, the associate comptroller and the assistant vice-president of budget should be added as Approvers. The Budget Amendment / Modification Request form is available online in XLSX format. In these instances, complete a Budget Amendment / Modification Request form and submit the form via General Purpose Workflow Document found under Workflow Main Menu of Kuali. Typically, these are budget changes between different Budget Control Groups. Some budget changes require approval from both the Comptroller’s Office and the Office of Budget & Planning (OBP). If a budget change is needed and the changes are within the same Budget Control Group (BCG) or if the budget change is a budget increase to be offset with a credit non-mandatory transfer (NMT), complete a budget change via Kuali using the General Budget Change option under Financial Main Menu.
BUDGET PLANNING CONTROL MANUAL
Planning and Three-Year Budget Forecast Manual (PDF) Budget Amendments/Modifications The Planning and Three-Year Budget Forecast Manual is designed to assist the Dean, Director or Senior Business Officer in preparing for the annual budget cycle. Planning and Three-Year Budget Forecast Manual
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