WHARTON FY20 BUDGET SCHEDULES January 2019

1. WHARTONFY20 BUDGET SCHEDULESJanuary 2019

2. Today’s Topics • Wharton Budget Process • Budget Calendar & Planning Parameters • Budget Schedules • F&A Analyst Budget Review • School-Level Review

3. Wharton Budget Process | Overview • Framework: based loosely on current year’s budget + new/changing initiatives/ Departmental priorities • Schedules: translate framework for consistency across Wharton by categories + documentation of budget components • Hyperion: input of budget and review versus schedules and departmental context via Hyperion Reports • Review: of mechanical and contextual aspects of departmental budgets • Analysis: at School level to verify accuracy of budget, understand changes to upcoming budget versus current year forecast • Present: budget summary and additional request to Dean • Additional Analytics: as needed based on presentation • Budget Approvals: communicated for those departments with Funding requests • Trustee Approval: of overall budget

4. FY20 Budget | Training Options Budget Schedules Hyperion: Entry & Reports One-on-One Sessions

5. Strategic Planning Group | Help us help you! • Contact your analyst with any questions during the budget prep period (now through March 7th) ! Lisa Dresner 8-2691 Sarah Grady 8-9227 Todd Pustilnick 6-8299 Jim Quinn 3-5404

6. FY20 Budget | Key Dates Wharton’s Final FY19 Forecast due to Central Apr 15 Academic Depts. FY19 Projections: update of Non-standing Faculty & PhD due Feb 15 Wharton’s FY20 Budget due to Central May 1 Wharton’s Winter FY19 Forecast due to Central Jan 15

7. Preliminary Planning Parameters FY20

8. Budget Schedules| Overview What are Budget Schedules? Excel Spreadsheets organized (primarily) by RCM Category and/or Object code. Why do we use them? • To provide a framework for the various components your department’s budget planning process • To make budget entry into Hyperion easier by generating an input table • To provide documentation/details of budget for later use Where do I find them? Saved in the FY20 Budget folder in your department’s Pillar drive.

9. Budget Schedules| List of Files • Standing Faculty Schedule • Non-Standing Faculty Schedule • PhD Schedule • Post Doc Schedule • Temporary Workers, Work Study, TAs, RAs • Staff Schedule • Current Expense Schedule • Other Income (Sales & Service/ Miscellaneous Income) • Transfer Reconciliation Schedule • Additional Funding Request Form • Fund Carry Forward Schedule • Endowment Additions and Liquidations Schedule

10. Standing Faculty Schedule Link To Schedule List

11. Standing Faculty Schedule: Salary Endowment yield information can be pulled from the “B14: Endowment & Gift Fund Analysis” Hyperion report. If your are not the RESP ORG for the endowed chair, contact your analyst for this information. Please see new tab added to schedules to help with reconciliation and tracking. Please add notes, it will to help your analyst understand what is happening and help you remember next year. If you are “buying in” a faculty member from another dept, please add their name to the schedule and fill in columns H & I. You should not add this faculty member’s base salary to columns B & D. Current Home Org Faculty names and salaries will be pre-populated. You will need to add any chair, buy-out, or leave of absence information. Potential new faculty should also be added with any information you have about their offers (i.e. likelihood and/or timeframe of acceptance). See checks to Hyperion on next slide

12. Standing Faculty Schedule: Salary Hyperion Planning Input table will populate automatically from the entries in the above table. Feel free to adjust the Prog/Cref codes as needed. New check to Hyperion Input. Amounts will show up as red unless the “per Hyperion report” section is filled out and agrees to the budget schedule. This is a good self review check.

13. Tying to Hyperion Reports More details provided in Hyperion training, but always make sure to do a thorough self-review. After inputting information into Hyperion, you should run the B3 or A7 + A8 reports and agree amounts to your excel schedules.

14. Standing Faculty Schedule: Salary – Endowed Chairs Prior year, pre-populated by F&A. NEW for FY20. The roll forward in this tab is to help you track the balances on each of your endowed chairs. It should help you make sure you are using all available funds for each chair and alert you when any endowed chairs are no longer in use. New chairs will need to be added for the current year. From the Hyperion B14 for amount available, pre-populated by F&A. If large difference/balance, can you use this fund for Ninths? From Webi Report, pre-populated by F&A.

15. Standing Faculty Schedule: Salary Please note this important item related to Standing Faculty: If you have Standing Faculty that are currently on Reduction in Duties (FY20), please budget these faculty members accordingly depending on their RID status for FY21. These very often continue each year leading up to Retirement.

16. Standing Faculty Schedule: Ninths Make sure to budget all ninths for your faculty, even if they are paid by other ORGs. Use the “Paid by Other Org” sections. You will need to add any Administrative Ninths paid to Home Org Faculty. Research Ninths will come pre-populated for all Home Org Faculty. Please make notes to explain any changes to your analyst. Any additional funds needed beyond the 000000 fund can be entered in the blue “Fund” boxes above. Totals from the top tables will flow automatically into the Hyperion table at the bottom of the page. Please COMMUNICATE with other BAs to confirm agreements between departments and add a note that informs your analyst. If ninths above the standard amount are being budgeted above for NEW FACULTY, please use Fund 010703 / CREF 07-3438. These amounts should match what is listed in the new faculty offer letter

17. Standing Faculty Schedule: DARTs The schedule will come pre-populated with “normal” 010702 DARTS. You will need to enter any one-time additional DARTS or DARTS for new faculty members. New columns for FY20, see details on next slide. Remember to add the total amount of Post Doc and/or Visiting Faculty DARTs (if applicable) from the applicable schedules. For 010702 DARTs, you will need to budget both a transfer in (4820) from the school, and the spending (5249). For 010703 and Restricted Fund DARTs, you should only budget the spending (5249). See notes on next slide for NEW Crefs we are using.

18. Standing Faculty Schedule: DARTs

19. Standing Faculty Schedule: Other Teaching (Full-Time) This schedule is used for additional teaching payments (sometimes above normal course load) and/or additional payments as part of an agreement. If related to a specific course, please be sure to list the course information including CUs. As of FY19 all SSF faculty are budgeted and paid by the Graduate Division. Academic Departments no longer need to include them in their budgets. The Hyperion Planning Input table will calculate automatically from above. Feel free to adjust the Prog & Cref codes to make input as simple as possible.

20. Standing Faculty Schedule: Relocation (5057) This schedule is used for relocation payments to faculty. For example: moving a new faculty member across the country. NEW for FY20, New Faculty Relocation budgeted above should match what is listed in the new faculty offer letter. These amounts should be budgeted to the 07-3438 CREF, and not be included on the AFR schedule. Any other relocation amounts should be budgeted to the 07-9999 CREF and included on the AFR schedule. By filling out the drop down on column D, these should flow correctly to the Hyperion input below.

21. MENTAL STRETCH What was the original name of The Wharton School?

22. Link To Scedule List Non-Standing Faculty Schedule Link To Schedule List

23. Non-Standing Faculty Schedule:5020 and 5011 Schedules are prepopulated with FY18 Actuals and FY19 Budget totals for each object code. You are asked to add your FY19 Projection and provide explanation of any significant variances between these figures and your FY20 Budget in the blue box below. You can add any other fund numbers needed in the blue box above and they will automatically populate the Hyperion Planning Input table below. Please include an explanation for the payment, including courses taught, name of standing faculty being replaced (if applicable), and any other relevant information.

24. Non-Standing Faculty Schedule: Buy Sell Agreements Please makes sure to include explanation for the payment including courses taught and University/Firm from whom we are buying the faculty time. Buy Sells should be budgeted under Object Code 5339 on Fund 010703.

25. MENTAL STRETCH What was the dollar amount of the original donation from Joseph Wharton to start the business school?

26. PhD Schedule Link To Schedule List

27. PhD Schedule: Stipends (Student Input) Stipend Amount and # of PhD slots will be populated by F&A. Please check/confirm this information when completing the schedule. A PhD’s status is noted in “Terms” instead of “Years.” Select the object code from which the stipend will be paid from the drop down. Max amount of terms (for full pay) is 10 terms = approx. 5 years. Input to BLUE sections only. All white and orange areas contain formulas that will update automatically.

28. PhD Schedule: Stipends (Hyperion Input) This input table will fill in automatically based on your entries in the schedule above. Control Check MUST EQUAL $0

29. PhD Schedule: Tuition, Fees, & Health Insurance (Student Input) PhD Student name, status, and terms will fill in automatically from your input on the Stipend Tab. The tuition/fees/health insurance object code will flow automatically from the stipend object selected on the stipend tab. Any amounts for terms over 10 will flow to transfer in/out (see summary section).

30. PhD Schedule: Tuition & Health Insurance (Hyperion Input) The input table will automatically fill based on your entries in the above schedule. The transfers from 010701 to 000000 for PhDs over the allotted slots or beyond their 10th term will calculate automatically.

31. MENTAL STRETCH How many deans of The Wharton School have there been?

32. Post Doc Schedule Link To Schedule List

33. Post Doc Schedule (Section 1 of 6) New Look for FY20! • Reminders: • HEALTH charges follow STIPEND payments! • Stipend increases should be no more than 2%. • If you have a “Dean’s” Post Doc, do not put more than 50% of the total post doc package on Fund-010703.

34. Post Doc Schedule (Section 2 of 6) New Look for FY20! Input Info Drop down for Dean’s Post Doc Summary section pulls from information input above.

35. Post Doc Schedule (Section 3 of 6) New Look for FY20! If you do not fill in the breakout of which fund the payment will be made to, the check figure turns red. Input Info Summary section pulls from information input above.

36. Post Doc Schedule (Section 4 of 6) New Look for FY20!

37. Post Doc Schedule (Section 5 of 6) New Look for FY20!

38. Post Doc Schedule (Section 6 of 6) New Look for FY20! Summary section pulls from information input above. Dean’s Post Doc Check

39. MENTAL STRETCH What year were women admitted to Wharton?

40. Temporary Workers, Work Study, TAs & RAs Schedule Link To Schedule List

41. Temporary Workers, Work Study, TAs & RAs: Temporary Workers Schedules are prepopulated with FY18 Actuals, FY19 Budget, and FY19 Trended results. You are asked to provide explanation of any significant variances between these figures and your FY20 Budget in the blue box below. You may enter either the worker’s names or job titles. If there are multiple workers performing the same job, you can group them together (e.g. “Student Data Assistants (3).” The “Total Cost” will calculate automatically based on your input of the hourly wage and estimated annual hours.

42. Temporary Workers, Work Study, TAs & RAs: Temporary Workers “Total Charged to 000000 Fund” will calculate automatically as the default fund after all “Payments from other Funds” have been deducted. Any amount over the previous year’s 000000 fund budget will automatically be added to the 07-9999 CREF in the Hyperion Planning Input table and should be included on the Additional Funding Schedule. Enter fund numbers in the blue boxes, and they will automatically populate the Hyperion Planning Input table below.

43. Temporary Workers, Work Study, TAs & RAs: Work Study The “Hourly Wage Paid by Dept” will calculate based on your input of the “Hourly Wage” (actual wage received by the student) and “Term” since the department’s cost varies (Academic Year at 50% and Summer at 80%). Beyond this difference, this schedule operates exactly like the Temporary Worker schedule.

44. Temporary Workers, Work Study, TAs & RAs: TAs The “Total TA Cost” will calculate automatically based on your input of the section and pay rate information. If additional funding is required please provide detailed information pertaining to why additional TA’s are needed (new course, another section is being added, larger class size, etc.) You do not need to populate each section of the course individually unless each section has unique TA payment arrangements.

45. Temporary Workers, Work Study, TAs & RAs: RAs Schedule operates very similarly to Temp, WS, and TA schedules. Funds entered in blue boxes will automatically populate the Hyperion Planning Input table below.

46. MENTAL STRETCH Wharton has produced the highest number of _____ in the US?

47. More Schedules? Link To Schedule List

48. Staff Schedule: Professional & Support Staff Link To Schedule List

49. Staff Schedule: Professional & Support Staff Column is shown to indicate if the position was added during the current fiscal year (FY19). NEW FOR FY20: New staff positions should be requested directly through HR during the course of the fiscal year, not during budget. HR will work together with F&A on those requests. Please confirm (1) all of your staff is listed (2) all salaries are correct (3) distributions in the fund/Orgs columns are updated. Staff names, titles, and base salaries are pre-populated by F&A. Please note that F&A does not have information on OPEN POSITIONS.

50. Staff Schedule: Professional & Support Staff Please add other fund payments in columns K-X and other org payments (orgs for which you are not responsible) in columns Z-AB. The portion of the staff member’s salary on the Operating Fund will calculate in column Y. Overwrite “Fund 1,” “Fund 2,” “Operating Fund,” etc. in section above with the actual fund numbers you will be charging and they will automatically flow to Hyperion Planning Input table below. Add any explanations in the notes column (AC).