Budgeting Operations

Budgeting is creating a plan to optimize your financial resources to enable you to determine in advance whether you will have enough money to do what you need to do or would like to do. H&S utilizes a “fund transfer” model, where we budget, fund, and record “operational” expenses in operating accounts.

In H&S, operating budgets are created annually using the School's Budget Planning System (BPS). H&S Finance then loads this information into the University's budget system, Tidemark, to help prepare a comprehensive and consolidated budget for the School. H&S Finance transfers the identified School-controlled funding for the operating budget at the beginning of the fiscal year and matches actual funding with actual expense at fiscal year-end.

Related Announcements

Related Resources

BPS as a Planning Tool

Setup, review, and forecasting as preliminary preparation for your FY22 operating budget.

BPS Task List

A one page reference to the Budget Planning System (BPS) modules

Budget Management Best Practices for YEC and New FY

Instructions and links to running reports following fiscal year-end close and at the start of the new fiscal year.

Calculating Projected Endowment Payout

A quick and easy way to estimate next year’s endowment payout.

Checking for Underwater Endowments

To check for any underwater endowments, use the Underwater Fund Report section of the Endowment Financial Dashboard located in the OBI Revenue and Fund Management Reporting dashboard.

Defining Operations

Definition of Operations, including examples, to assist department administrators in developing operating budgets and to maintain consistency and comparability throughout the School.

H&S Financial Dashboard Quick Start Guide

A suite of on-demand, customized BI reports to support annual business processes.

Midyear Forecasting

An overview of why and how to create a midyear financial forecast.

Operating Budget Orientation

Review of the annual operating budget process

Operating Budget PTAs - Definitions & Uses

H&S utilizes a standard set of Operating Budget projects for managing finances at the School level and to assist department and program administrators in managing the operations of their unit.

Operating Budget Savings - Policy

The operating budget savings policy will be the same as it has been for the past three years. Departments and programs will be allowed to move all operating budget general fund surpluses to their Budget Savings account. The 2020/21 Budget Savings Policy & Process is applicable for FY22. This policy will be reevaluated for FY23.

Planning Assumptions for Budgeting - FY23

University Budget Office (UBO) expense and endowment income planning assumptions for the FY23 operating budget. This job aid is intended to assist H&S department and program administrators during the FY23 operating budget process. UBO planning assumptions change throughout the year. Please contact your H&S Finance liaison for the most recent information.