FY15 Final Operating Budget Memo

To:               Department and Program Administrators

From:          Margaret Fox – Manager, Accounting and Department Liaisons

Subject:       FY 14/15 Budget Template Final

Date:            October 29, 2014

Download the memo:  https://finance-humsci.stanford.edu/sites/default/files/fy15_final_budget_report_memo.pdf

Today we are distributing the final budget templates for the current fiscal year in the Repository on the H&S Finance website.  We have added the Faculty Salary and Staff Salary detail in the same way as last year so that the complete operating budget for the unit can be seen in one place.

Faculty Salaries

The tab “Faculty Salary” contains the Hyperion report with detailed faculty salaries for each department.   Faculty salary funding is on the “Funding” tab in the row for Faculty Salaries in the Base column.  The Faculty Salaries project is included on the Budget Summary to the right of Operations with both the funding and expenses (balanced to zero, of course).  

Staff Salary Report

The final Staff Salary Report is incorporated into the template for all units. For departments the “Staff Salary” tab is to the right of the Faculty Salary tab, for programs it is to the right of the Funding tab.  Budgeted staff salary amounts were included by expenditure type in the individual project worksheets and in the Budget Summary.

Reconciliation of Expenditures

All expenditure amounts represent what was entered for the 9/1 budget in Hyperion and posted as the Expense Control for September in Oracle.  You should be able to reconcile the Budget Template with the September Expense Control on your Expenditure Statements. 

Reconciliation of Funding

The funding entries for the 9/1 budget were posted in Oracle in October.  You should be able to reconcile the funding by project on your budget template with the operating budget transfers on the October 153 Fund Statement report after month-end close.  More detailed information on fund transfers entries is on the data download version of the 153 report.

Budget Revisions

We are able to make adjustments to the budget using the iBudget application.  As always, we will be getting staff salary changes from Human Resources and will be sending those reports to you separately. 

Please let your liaison know if you find other errors or if you need to make corrections based on new information.  Some of you may have amounts that you would like to budget that are funded from outside H&S, for example from the President and Provost’s Office.  These amounts can also be entered in the iBudget application. 

We hope you find this report helpful and would appreciate any comments, questions, or suggestions.  If you would like help with either of the reconciliations, please contact your liaison.