The budget development page was created to aid CU Boulder departments in creating their annual budgets. If you are a CU Boulder entity and would like consultation when creating your budgets, please contact us using our online form.

Timeline

The General Fund continuing budget change cutoff for the campus is April 16, 2018. After the cutoff until June 14, 2018, General Fund continuing budget may only be moved within the same General Budget Account and Campus Division. Please contact Budget and Fiscal Planning at bfp@colorado.edu with questions. No FY18 General Fund BJEs in the continuing ledger will be approved after June 14, 2018. BJEs in the temporary ledger will be approved until the June close date.

Planning parameters

CU Boulder's planning parameters by fiscal year (PDF)

Auxiliary fund budget development

FY 2018 Auxiliary budget information and instructions (PDF)

Cash carryforward management

The General Fund cashcarryforward (CCF) is the budget available at the end of a fiscal year that is carried forward to the next fiscal year. The CFF is determined by yotal budget (and actual ID revenue if applicable) less expenses, excluding encumbrances. Encumbrances should zero out at the end of each fiscal year regardless, so in case they do not, they are already excluded from the calculation.

The campus guideline for how much budget is reasonable to reestablish, or carryforward, in the new fiscal year is 1% or less of the total General Fund budget, in accordance with the “Budget and Net Position Internal Reporting” policy. Each division should ensure that their unit carryforwards fall within these guidelines.

During the 4th quarter of the fiscal year, you should be monitoring your expenses in order to determine your year-end financial position. With anticipated final fiscal activity in mind, you can begin planning for your carryforward. Using a Revenue and Expense summary report, you can estimate your final fiscal activity and how that relates to your budget. Budget and Fiscal Planning recommends transferring excess budget balance available that is over 1% of total budget to a plant fund (Fund 72) speedtype. It is recommended to keep those resources in the plant fund until needed.

Fund 10 speedtypes that have a deficit balance and are linked to a fund 72 speedtype with sufficient funds to cover the deficit will receive an automatic cash transfer after each June close. If there aren’t sufficient funds in the fund 72 speedtype to cover the deficit you may do a manual cash transfer to cover all or part of the deficit.

Departments have until the 2nd campus close to do entries, about two weeks into July. However, you are encouraged to close your unit’s books sooner than the final day of close. It is reasonable, and encouraged, to have squared up the majority of your unit’s financial activity during June.

The cash carryforward entries are made in July and are recorded as “TROLLFY##” in the journal line description.

Assume you are the fiscal manager of a General Fund speedtype and it is June 23. You are expecting invoices worth $1,000 to arrive in the next week before June 30.

  1. Total Budget: $100,000
  2. Total Expense at June 23: $93,000
  3. Anticipated expenses for the final week of June: $1,000
  4. Total Estimated Expense for the year, (B)+(C): $94,000
  5. Estimated Budget Balance Available, (A)-(D): $6,000

The $6,000 estimated Budget Balance Available is 6% of the total budget. The carryforward target of less than 1% of budget equals $1,000. Therefore, you should transfer at least $5,000 ($6,000 - $1,000) to your plant fund. This will allow you to meet your carryforward target, and the remaining $1,000 will be rolled forward into the next fiscal year.

Salary and benefit budget management

Recent legislation passed by the State legislature (C.R.S. 24-50-135, effective August 11, 2011) allows for the exemption of certain classified positions. In light of this new law, the campus Budget office would like to encourage campus departments to align their salary budget pools where salaries are charged, particularly if they have been or are planning to reclassify positions from classified to exempt.

Aligning salary budgets into the proper pools is particularly important for departments with General Funded positions, because this information is used to determine salary pool funding; if your budgets are not in the proper pools, you may not recieve the proper funding. If you reclass a position from classifed to exempt, be sure to move the appropriate amount of salary budget from the classifed salary budget pool account (405000) to the professional exempt salary budget pool account (402500).

Because the fringe benefits rates are the same for professional exempt and classifed employees, you do not need to contribute further benefits funding when reclassifying employees.

If budget is being moved from non-salary budget pools (i.e., if an increase is given to an employee and the funding comes from the operating budget), then the department must also contribute benefits budget.

How to: Budgeting Fringe Benefits in the General Operating Fund (Fund 10)

Departments with self-funded positions are responsible for providing the resources for salary increases. However, the Budget Office still recommends re-aligning salary budgets for any reclassed positions.

Fringe benefits outside the General Fund are charged directly to departments, so departments should also move the relevant benefits for any reclassed positions from the classifed benefits budget account code (425000) to the professional exempt benefits budget account code (422500).

For information on reclassing positions, visit the department of human resources' website.

Inflation