auc: catalyst for change planning and budgeting for 2015-2017 integrated planning committee monday,...
TRANSCRIPT
AUC: Catalyst for Change
Planning and Budgeting for 2015-2017
Integrated Planning CommitteeMonday, September 09, 2013
Action Time Plan
1 Planning kickoff meeting, distribution of planning guidelines Sep. 9, 2013
2 Unit-level deadline (version five) Sep. 22, 2013
3 School-level deadline (version four) Oct. 13, 2013
4 Deadline for submission of unit-level revised strategic plans FY2015-2017 Oct. 27, 2013
5 Deadline for submission of FY13 assessment reports Nov. 1, 2013
6 Area-level deadline (version three) Nov. 10, 2013
7 First view of the budget submission plan version 3 in BOT format Nov. 24, 2013
8 Distribution of the budget submission analysis/ exceptions review document to the Cabinet Dec. 8, 2013
9 Iterative budget committee review Dec. 10-31, 2013
10 Delivery of the enrollment and academic plans Mid-Dec., 2013
11 Delivery of financial plan Mid-Jan., 2014
12 Board Executive Committee Meeting Early Feb., 2014
13 In person meeting of Board Finance Committee Early Feb., 2014
14 AUC Board Meeting, approval of all plans and budgets by BOT Mar. 20-21, 2014
15 Close of Fiscal Year Jun. 30,2014
16 Beginning of New Fiscal Year Jul. 1, 2014
AUC’s Institutional Priorities
• Education for Citizenship and Service • Research Reflecting Innovation and Impact • Outreach Enhancing Engagement and Access • Management with Sustainability and Integrity
BUDGET AND PLANNING PARAMETERS
2015-2017
Assumption Current Financial Model
FY14 FY15 FY16 FY17
1. Forex 7.25 7.25 7.25 7.25
2. Inflation 6% 6% 6% 6%
3. Revenue
a. Tuition 2.30% 2.30% 2.30% TBD
b. Other revenue 3% 3% 3% 3%
4. Supplies & Services 0% 0% 0% 0%
5. Depreciation Expense 3% 3% 3% 3%
6. New Initiatives $2 M $1.7 M $1.7M $1.7 M
7. Endowment Support 5% of average 3 yrs value [value growth 7%]
Operating Result ($Million) 0.03 1.1 4.7 TBD
Overview of Key Issues• Exchange Rate• Operational Efficiency and Effectiveness • Enrollment Management• Human Resources• Endowment Spending• Fundraising • Capital Budgets and Financing• Debt Management
FY 2015-2017• Fiscal year changed: July 1-June 30 starting July
2013.– FY 2015 is a 12-month budget (July 1, 2014-June
30, 2015)– Can re-allocate among months. Amounts are
annual, so if not spent in month allocated, are still available in following months.• Try to be as accurate in monthly budgeting as possible.• For questions, contact
Budget and Financial Planning Office
Supplies and Services Budget Controls Previously: Control at the total budget level
SAP checks at the total available budget for the supplies and services not on a specific line item.
Beginning in FY15: Budget control will be placed on groups at high priority for cost control Communication & Information, Utilities, Travel,
Consulting and Professional Services You cannot overspend these lines. Permission from University Cabinet and the EVP
required for transfers in and out of these lines.
Goal Setting
• Start with your current plan. What do you need to achieve plan? How can you shift resources to achieve goals?
• Need to focus on quality, effectiveness, improvements in efficiency of operations.
• Budget your plan, not plan your budget.
Planning Matrix• New initiatives only in academic area.
– Planning matrix closed to new initiatives, including new capital equipment
– Self-funded activities allowed– Enter HR requirements, including tuition remission
benefit• No new staff requests
• May re-allocate within current operational budgets
• Keep capital replacements to a minimum
Planning Process1. Refresh and review your unit’s goals2. Brainstorm ways to strengthen current programs, areas that can be
reduced or eliminated3. ID opportunities to reallocate existing funds to support these
initiatives4. Adjust your budget in SAP as needed. Re-allocate among supplies and
services lines as needed, taking the new budget controls into consideration. Do not increase overall amount.
– 12-month budget already loaded. Adjust monthly amounts as needed.
5. In planning matrix, only enter HR information and self-funded initiatives, except for academic area.
– Don’t forget! Enter scholarship information for all faculty/staff using benefit
6. Submit your SAP budget and planning matrices according to timeline7. Await approval
Planning Resources Integrated Planning Committee Institutional Research
Will provide data and technical assistance in planning and assessment as needed.
[email protected]: Email us if you need assistance or have questions.
AUC Planning and Budgeting Central website Located under “About AUC”, “Governance and Administration” , “Policies”
on AUC’s website. Budget memo, planning assumptions, links to blog http://www.aucegypt.edu/about/PlanBudg/Pages/Home.aspx
All things budget: http://budget.aucegypt.edu Email us if you need assistance or have questions.
