The Catholic University of America
COMPLETING AND SUBMITTING THE FY2018
BUDMEMO4 FOR RESERVE FUNDS 18, 19 & 51
Reserve funds are designed for schools and departments to use for unique, one-time, non-recurring expenses or to defray the cost of unanticipated events. There are three types of reserves funds: unrestricted (Fund 18), designated (Fund 19) and non-endowed donor restricted (Fund 51). These guidelines and the attached template will assist program managers with preparing budget submissions for reserve funds.
Each Division will receive from the Budget Office a “check number” that is the total, allowable expense budget (or “spend authority,” including discounting, but excluding transfers and capital expenses) for FY2018. Each School or Department should submit a budget to their Vice President that reflects their proposed financial plan for the Fiscal Year that is currently being budgeted.
For the Fiscal Year 2018 budget planning, all reserve budgets are due from the divisional Vice Presidents to the University Budget Office on or before March 31, 2017 at 12p.m.
OPERATING EXPENSES:
The FY2018 Beginning Balance (=FY2017 Ending Balance) plus any approved new Revenue in FY2018 must be enough to cover the Total Operating Expenses (including transfers and capital) in Reserve Funds. Having the spend authority to budget $500 when the org will only have $100 in balance and $50 in new revenue will not be allowed. Inversely, even if an org has a balance of $5,000 the budget can’t exceed a $1,000 spend authority limit, if that is what has been given to the department.
Salary and Benefits - Reserve funds can only contain temporary faculty or staff salaries, as a reserve fund does not provide a permanent, on-going source of funding for staff positions. A start and end date will be required for all salaries and benefits funded from a reserve fund.
The individual department salary budgets will be prepared for you based on your current employees and salaries as of December 1, 2016. For reserve funds, you will need to build into the FY2018 plan any expected increases from these sources, including merit or equity because these are not centrally funded.
The benefit rates for Fiscal Year 2018 are as follows:
· 0100, 0101 and 0121 for temporary full-time faculty salaries 23.75% = .2375
· 0110 and 0113 for Grad RA & TA stipends 1% = .01
· 0150 for research staff 23.75% = .2375
· 0170 and 0171 for temporary full-time staff salaries 23.75% = .2375
· 0200 for part-time staff 10% = .10
· 0220 for part-time students 1% = .01
· 0230 for work-study students 0%
· 0240 for part-time summer maintenance 10% = .10
· 0250 for private music instructors 10% = .10
· 0270 for part-time lecturers 10% = .10
· 0500, 0510 and 0520 for overtime 10% = .10
Tuition Discounting - Enter the amount of funding that will be used from the reserve fund for scholarships. Provide a detailed explanation for the amount requested. This will count against net revenue.
Other Expenses - Enter other expenditures required for the program. Provide a descriptive narrative in the footnotes area located on the bottom of the budget submission form. The types of expenditures categorized as other expenses include:
· office supplies· other materials and supplies
· postage and freight
· data processing
· communication
· telephone service
· professional services and consulting
· advertising and promotion
· equipment/equipment maintenance / · hardware, software
· travel
· postage
· printing
· rental
· legal expenses
· memberships
· insurance
Inter-fund Transfers – Represents the amount that will be used “From” the reserve org to fund activities in central university operations or other budget shortfalls in other budgeted funds (i.e. amounts transferred from fund 11 to 19 and vice versa). An explanation for the inter-fund transfer’s purpose should be submitted with the request, including the offset fund and org details.
Intra-Fund transfers – Represents the amount that will be used “From” one org within a fund to another org within that same fund. (i.e., amounts transferred from an org (A) within fund 19 to an org (B) within that same fund 19). An explanation for the intra-fund transfer’s purpose should be submitted with the request, including the offset fund and org details.
Capital expenditures - Enter the total amount of capital expenditures that you anticipate spending from the reserve fund. This amount should correspond to the amount that has been submitted on the current year budget Capital Request forms.
Capital expense and transfer budgets do not count against spend authority. An adjusted total line will reflect this at the bottom of the BUDMEMO4 template.
REVENUE
Tuition and Fees, Grants and Contracts, and Other Sources – This will be budgeted by the Budget Office based on historical amounts, which tie to the overall budget. Please note any significant changes you want us to be aware of when we enter these budgets for you.
Instructions for Running “BudMemo4” (a PeopleSoft nVision Report)
1. In PeopleSoft, log in to Cardinal Financials
2. Proceed with the following navigation on the left side menu:
Reporting Tools
PS/NVision
Define Scope
3. Under Scope Definition, Find an Existing Value:
a. Set ID = Defaults to “CUA”
b. Report Scope = enter “BudMemo4” for Funds 18, 19 & 51 (Reserves)
c. Click on ‘Search’
d. Once the new screen Scope Definition opens:
i. Select Value = enter six digit org/deptID number
ii. Click “SAVE”
iii. On the same screen, Click on “Report Request” button
e. Once the new screen ‘nVision Report Request’ opens:
i. Under the section ‘Report Date Selection’ specify date = click on “today’s date”
ii. Click on “save” button
iii. Click on “run report” button that appears right above the ‘Save’ button
4. New screen opens up under the ‘Administration’ tab
a. Click “refresh” button to update the screen until report runs and the status is ‘Posted’
b. Tab down to appropriate report title and click on title
c. The report will open up in Excel
5. Enter the budget figures for the Fiscal Year expense and revenue budget under the Fiscal Year 2018 budget column
6. Make sure you save the file on to your hard drive and regularly ‘SAVE’ as you are inputting budget figures in the EXCEL template and when input is complete.
7. Follow the instructions for the separate BUDSMRES report in order to consolidate the totals from the individual reserve budget memos before sending that file to the Budget Office.
If you have any questions, please contact the Budget Office: http://treasurer.cua.edu/Budget-Office/budgetoffice.cfm
3 | Page