Budgets and Reporting
1. Who determines operating budgets for the departments?
Department budgets are approved by CCAS leadership and are informed by departmental leadership. Budgets are based on the needs and operation of the department, as well as, CCAS available resources and operational strategy.
2. When are budgets discussed and set for the fiscal year?
The current budget planning cycle begins in late winter when the University Budget Office issues it’s annual budget call. The budget implementation begins at the beginning of each fiscal year. The fiscal year begins on July 1st and ends on June 30th every year.
3. What reports should we use to monitor budgets?
Budgets can be monitored using multiple reports. Budget variance conversations between CCAS Finance and the departments will be centered around the FSG report which captures the official University record of account activity. However, the Budget Performance Report (BPR) can be used to monitor your budget at a transactional level. Both reports can be run in EAS. We also encourage departments to utilize internal budget tracking sheets; especially with the use of R-funds that carry balances that may be earmarked for multiple uses across the department.
4. Can we use salary savings generated in Compensation for non-Compensation expenses?
No. Compensation and non-compensation expenses are NOT fungible.
5. We don’t have enough resources allocated in natural account 53XXX. Where can we find the money to cover the expenses?
Non-compensation budget lines are fungible. For example, the amount allocated for instructional supplies can be used for office supplies, as long as the bottom line is on target. Other sources to be considered are departmental funds (R-funds), and Endowments (if MOU provides for that specific use).
6. What happens if there is a deficit in my C -fund at the end of the year?
It is our joint responsibility to ensure that there is no deficit in your C-fund at the end of the year. By carefully monitoring expenses and managing resource allocation, we will ensure that your C-fund spending is on target by fiscal year end.
7. What is direct cost share?
Direct cost sharing occurs when the University agrees to fund a portion of the direct costs incurred under a sponsored project. Direct cost share paid at the departmental level are typically agreed to by CCAS to offset salaries. Usually, cost sharing is agreed upon at the time of proposal submission and the cost center that will fund the direct cost sharing is identified on the proposal routing sheet. Any direct cost share expense against the department’s budget will not be calculated against the bottom line.
8. Are we responsible for interdepartmental expenses?
Yes, departments are responsible for managing the interdepartmental budget lines. Interdepartmental expenses include: general maintenance and repair, housekeeping services, GW moving services, GW printing, graphics and postage, as well as, ITA service charges (Colonial Temps).
9. Are departments responsible for compensation budgets?
Yes, departments are responsible for tracking compensation budgets and ensuring proper management of the allocated funds.
10. Why do I see a credit in my staff compensation lines every month on my budget reports.
This credit is a monthly payroll accrual for employees paid on a bi-weekly basis. The accrual appears because the end of a bi-weekly pay period does not usually coincide with the end of a month. An accrual is required at the end of each month to record the amount of bi-weekly payroll expense incurred, but not yet charged to departmental budgets. The accrual is recorded in accounts 51401 and 51802 for the salary expense and the fringe benefit expense respectively.