Q3 (Mar, Apr, May)

At Mid Year, Review Budget Against Actual Expenses. Complete Graduate Aid Budget

Quarter three of the fiscal year covers March through May.  With half the fiscal year complete formal analysis of actual expenses compared to the budget allow for an updated year-end financial forecast and the completion of a budget plan for the upcoming fiscal year.  Planning for upcoming faculty recruitment and searches begin.  Graduate aid annual budgets are submitted by departments. 

Related Resources

An overview of why and how to create a midyear financial forecast.
A financial reporting job aid providing brief notes on selected financial reports recommended for answering the questions, "How have we been doing?", "How are we doing?", and "How do we think we will be doing?".