Millennium Budget Training

1. Millennium Budget Training Wilfrid Laurier University Financial Resources 2012/13 Budget

2. Kick-off Presentation January 11th, 2012 Link to Kick-off Presentation: Found on the Finance & Administration home page http://www.wlu.ca/homepage.php?grp_id=59 To view & listen to the recorded presentation. Mr. J. Butler gives a detailed explanation on budgetary assumptions for the upcoming 12/13 budget year.

3. Training Agenda Assumptions Budget Schedule Budget Process/Guidelines Strategic Investment Fund Account Structure Online Submission Process & Demo System Checks 2014-10-26 3

4. Assumptions

5. Assumptions • Enrolment Growth: Note: Headcount figures based on most recent enrolment planning submission to MTCU • Tuition Fees: • 4.5% rate increase each year as per current policy • Government Grants: • Full funding for enrolment growth (11/12 base year) 5

6. 12/13 Budget Scenario • POLICY OPTIONS: • Budget cut this year (2012/13) of 2.7% or • Defer budget cut until next year (2013/14) of 6.7% • Please refer to Mr. J. Butler’s comments 6

7. Budget Schedule

8. Budget Schedule 2014-10-26 2011/2012 Budget 8

9. Budget Process/Guidelines

10. Steps for Budget Managers 1) Budget Adjustments - Complete by February 3rd, 2012 • Review Position budgets & make necessary adjustments • Review remaining accounts & make necessary adjustments • All Budget Adjustments (BUDAs) MUST balance to zero 2)Enter Strategic Investment Fund (SIFR) requests 3) Complete Strategic Investment Fund Proposal form – Submit by February 10th, 2012

11. Position Budgets • Review position budgets for Faculty, WLUSA, MGMT, EXEMPT • Verify existing employee positions • Add missing employee positions • Reverse incorrect employee positions • Note: Balance in unallocated salary account (630999) cannot • be negative 11

12. Position Budgets • WLUFA • Reference Salary (11/12) • LTA's base amounts remain in faculty and non-base in VPA; LTAs that are expiring will not receive an increase • WLUSA & Managers • Reference Salary less 2/12 of most recent increase • Phase 3Adjustments • Non-Position based wages accounts will be adjusted based on contracts and/or rates agreed upon by Senior Management • Known employee contract increases will be added to positions • Increases that are only projections will be estimated and not added to the positions until contracts are finalized (set up in contingency) • Benefits will be estimated and adjusted 12

13. Position Reports The Banner Report (PWRPOSN) is available which provides a list of current positions and reference salary in payroll Reference salary current rate Budgeted Salary in Phase 1 is cost for last fiscal year (May 1, 2011 to April 30, 2012) (See next slide on “How to run “PWRPOSN” in Banner) Millennium’s Financial Reporting module has useful “Current Year – Budget by Position” report option NOTE: These 2 reports should be compared to ensure your positions are budgeted accurately for 2012/13

14. PWRPOSN Report

15. PWRPOSN Report cont..

16. Other Salary Issues Special Voluntary Exit Plan (SVEP) Faculty are charged to their existing department Other staff are budgeted centrally by Finance Phased in Retirement Option (PIRO) Faculties will hold the usual salary over the 3 years and have to cope with the time-variant nature of the actual payments Benefit expenses for early retirees remains in the faculty budget until the member reaches age 65, at which time they are move to the general retiree account. Other staff are budgeted centrally by Finance

17. Other Salary Issues Faculty Positions Upon Retirement Full salary will be allocated back to VP budget Starting salary of replacement will be allocated back to the faculty (at VPA’s discretion) Resignations Full salary will remain in the faculty budget to allow department to hire at same level (at VPA’s discretion)

18. Budget Adjustments (BUDAs) What is a BUDA? • A BUDA moves budget funds from one budget line to another (ex. Office supplies to Training) • Funds may be moved between salary and non-salary accounts • BUDAs can be used for anticipated changes in in projected activity for the next budget year • BUDA entries MUST balance to zero!

19. BUDA Example #1Expense Accounts only • Student wage expense requires an additional $5k of funding (inadequate funds currently exist) • Move $5k from office supplies (as less is required for this expense item BUDA Adjustment: +$5,000 student wage, -$5,000 office supplies = $0 • An increase in expense must be offset by another account item to ensure overall budget amount remains the same

20. BUDA Example #2Expense & Revenue Accounts Student wage expense requires an additional $5k of funding (inadequate funds currently exist) Increase budgeted revenue from application fees by $5k (based on expectations in 2012/13) BUDA Adjustment: + $5k to application revenue, + $5k to student wage expense = $0 Positive number in both cases 2014-10-26 20

21. Target Categories • Notes: • Contact Gary Lambert on all fee rate changes and new fees to ensure they are included in the board approval package • SIF submissions in Millennium must reconcile with requested amounts on SIF application forms 21

22. Strategic Investment Fund (SIF)

23. Strategic Investment Fund • Funded in 12/13 with inflationary allocation rather than reallocation from departments • SIF Proposal forms are available online • Amount available for distribution is not determined at this time • Departments can apply for funds based on developed criteria • Applications will be reviewed by SIF sub-committee prior to President’s Group meeting • Complete form and submit to VP by February 10th, 2012 • Approved SIF forms submitted to Financial Resources by February 17th, 2012 (sdavidson@wlu.ca)

24. Strategic Investment Fund • Based on criteria developed by PG & VPAC: • Explain proposal, with anticipated outcomes and financial details • Promotes & adheres to Values, Vision, Mission and Guiding Principles of the University & advances the 2010-2015 Academic Plan • Improves the organization’s efficiency & effectiveness or is a strategic enhancement to Laurier • Clear implementation plan Link to SIF Forms: Found on the Financial Resources home page http://www.wlu.ca/homepage.php?grp_id=1165

25. Strategic Investment FundRequest Form

26. Strategic Investment FundVP Priority Summary

27. WLU Account Structure

28. WLU Account Structure • FUND • Highest level – 1100 operating fund, 3400 ancillary fund • ORGN (organization) – department level • Six digits, last four digits of orgn is index # • ACCT (account) – account level • i.e. WLUSA Salaries, Printing & General Supplies • PROG (program) • Additional level, only important for entry purposes

29. Online Submission Process & Demo

30. Logging In to Millennium https://fina.wlu.ca/FAST Banner ID and Password

31. If Banner Password has Expired If unused / unchanged, Banner password will expire in 90 days, or if you have 3 unsuccessful log-in attempts, Banner will lock your password E-mail passwords@wlu.ca to obtain a temporary password Log into Banner Link is: https://isis.wlu.ca/ Click on 2nd item on list: Internet Native Banner (INB) for Windows PCs(Internet Explorer must be used) At the log-in screen type: Username: Banner/Oracle username: usually first letter of first name + last name. For example: John Smith would be JSMITH Password: type in temporary password (provided in 2 above) Database: leave this blank Click on “Connect” Banner will display a message “Your password has expired”, because the temporary password should only be used once (see 3e)

32. If Banner Password has Expired Log into Banner (continued) Once in Banner, you will be prompted to change your password Oracle User ID: example: JSMITH Oracle Password: use temporary password provided by passwords@wlu.ca New Oracle Password: Type in a new password that you will remember Verify Password: Type in your new password again Press the “save” button You should now be in Banner, and your password has been successfully changed. To log out of Banner, close the browser Log into Millennium Link is: https://fina.wlu.ca/FAST At the log-in screen type User ID: example: JSMITH Password: the New password created in step 3.d above Press the “Go” You should now be in Millennium Ability also exists to change password in Millennium

33. Logging Into Millennium Click on the “Budget and Forecasting” tab

34. Budget Module Budget entry screen Change Fiscal Year to 2012/2013 using drop down list Do not change “Company” or “Chart” Click “Submit” Button

35. Development Tab Now you will see a tab at the top called “Development” with two drop down items Development with Actuals Development Entry

36. Development Tab Or you can click on the launch screen Development with Actuals Development Entry Click on the lines beside the red box

37. Two Ways to Make Adjustments Development with Actuals (“drill down” method) Shows actual historical data & budget phase amounts Summary screen shows entries for accounts that you filtered on Drills down from Fund -> Org -> Account Development Entry Summary screen shows all entries made to all accounts (subject to filters used)

38. Development with Actuals Making Adjustments Development  Development with Actuals Can filter by Fund, Orgn, Acct (# or name) Click on magnifying glass to do a search Use brush to clear all filters before next search 1.

39. To drill down, click on a number under the “Code” column This is the Fund Roll-up level Development with Actuals

40. To drill down, click on a number under the “Code” column This is the Fund level Development with Actuals

41. To drill down, click on a number under the “Code” column This is the Orgn level Development with Actuals

42. This is the Acct level – most detailed level in general ledger Development with Actuals

43. If you can’t remember which Fund and Orgn you drilled into, click on the “balloon” The “balloon” shows you the accounting string (see next slide) Development with Actuals

44. The balloon shows you the accounting string In previous screens, we drilled into Fund 1100, Orgn 538077 Click on the balloon again to hide the “Search criteria” Development with Actuals

45. To make adjustments, drill into an amount in the far right column (the “open phase”). This column may be Phase 1, Phase 2 or Phase 3 Development with Actuals

46. To make a new entry click on plus sign Development with Actuals

47. At the bottom of this page it shows the entries already made to the selected account Required fields have a red astric (*)beside it. Note: the Fund, Orgn, Acct, and Prog fields automatically populate when using the drill down method to make adjustments Development with Actuals

48. FUND, ORGN, ACCT, PROG all mandatory fields 200 characters for description (mandatory), Spreading = “65” (only option) Enter appropriate DevCty (“BUDA”, “SIFR” etc.) Budget Type is a mandatory field (BD02 is only option) “FTE” and “Metric Code 1” fields to be left blank Put the desired amount in the “Amount” and the total will automatically populate (leave the “Enter 1” box with “1.00” – pre-populated) Click “Save”, “Save & Add New” or “Cancel” Development with Actuals

49. Once an entry is saved it confirms to close or duplicate or delete it. You can also see your entry saved at the bottom. Development with Actuals

50. This page shows a summary of entries made to the selected account In this example, the initial budget has been loaded (Status = green button = approved) And one budget adjustment was completed (Status = yellow button = pending) All adjustments made by budget users show up as Pending (yellow button) and await approval from finance To return to your budget, click “Return to Previous Page” Development with Actuals