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FY '09 Budget Timeline

1) How do I get access to Web*budget?

To qualify for access to Web*budget, you must first have access to Web Financials.
Access to Web Financials can be obtained by completing a Web Finance Request
Form and submitting it to the IRT dept. for processing.

In order to qualify for access to Web Budget, you must:
a) Be a budget administrator or be authorized by a budget administrator and/or dept. head.
b) The budget administrator needs to forward a request for your Web*budget access to the Budget Office. The request must indicate whether access should be granted for both Salary Budget (SB) and/or Operating Budget (OB)
c) The Budget Office will request IRT to add your name and ID to the Web*budget security role.
d) Once your name and ID have been added to the Web*budget security role, the Budget Office will then grant you access based on the request.

2) How do I get Web Budget training?

At the beginning of the budget process, the Office of Planning & Budget sends an e-mail notification to each Senior VP detailing when Web Budget will be open. The email also includes an announcement that our office is offering web budget training sessions and when they will be held.

To get Web Budget training, please inform our office of the date and time that you would like to take the training session, then our office will send you a confirmation based on your choice/s.

3) What is a current services budget?

A current services budget for the next year is the Board Approved Budget of the current year plus/minus any Permanent Adjustments (BD02) as of December 31.

A permanent budget adjustment is an amount built into your base budget which rolls forward to the next year, such as January 1, 2008 salary increases. Your Current Services Budget does not include an inflation factor for general expenses, and does not include merit increases for the next fiscal year. The merit increase pool for the University is budgeted centrally.

4) How do I add a cost center in Web Budget?

Adding a cost center in Web Budget can be accomplished by sending a request to Budget Office. The Budget Office will notify you once the new cost center had been set up.

5) How do I add a position in Web Budget?

If you need to add a new position to the salary budget, click on “Add New Position” link which can be found on the upper left hand corner of the salary budget page. This link will take you to the “Add New Position page” which shows the default fund and fund description and orgn and orgn description.

1) To add a new position, select from the drop down menu the salary
account code that you want to use for this position.
2) Enter a Position Description (Job Title)
3) Select an Employee Class from the dropdown list
4) Enter the amount of FY09 Requested Budget in the box.
5) Click Save.

6) How do I add an account code in Web Budget?

If you need to add a new revenue and/or expense account code to the operating budget, there is a link “Add New Account” which can be found on the upper left hand corner of the page.

1) Click on the link. This link would take you to the “add new account page”
which shows the default fund and fund description and orgn and orgn
description.
2) To add a new account code, select from the drop down menu, the revenue
and/or expense account code that you want to add to the department’s operating budget.
3) Enter the amount of FY09 Requested Budget in the box.
4) Click Save.

BUDGET MONITORING

7) What’s the difference between an unrestricted and a designated cost center?

Unrestricted Cost Center –Budgets for unrestricted cost centers are determined each year through the annual budget process. Unrestricted budgets are annual budgets, from July 1 to June 30. If any unused funds remain in the cost center at the end of the fiscal year, they do not roll over to the next year. Unrestricted cost centers generally have a fund number of 110001 or 110100 and are assigned a unique individual org (department) number.
Designated Cost Center – These cost centers have been designated by the University Trustees to be expended for a specific purpose. Each separate activity is assigned a unique individual fund number and each fund has its own fund balance. The budget will be increased as new revenue is received. At the end of the fiscal year the balance of the fund, the ending balance, becomes the beginning balance for the new fiscal year.

8) What’s the fringe benefit rate?

The fringe benefit rates are as follows:

DREXEL DUCOM RESEARCH

Exempt Full Time 29.0 % 19.0 % 26.8 %
Exempt Part Time 8.5 11.0 8.9
Faculty Full Time 29.0 19.0
Faculty Part Time 8.5 11.0
Faculty Adjunct 8.5 11.0
Faculty FT High Comp 15.0
Student 0.0 0.0

9) What is my pooled budget balance?

The pooled budget for a Drexel cost center includes all general expense account codes except for 4251, rent payment.

10) What happens if my cost center is in deficit?

If your cost center is in deficit prior to May 31, please transfer funds from another cost center under your control to the cost center in deficit by sending a funding transfer form to the Budget Office.

After May 31 the Budget Office will work with you, if time allows, to determine which cost center to use to cover the deficit. If time does not allow, the Budget Office will analyze your accounts and fund your deficits from your discretionary accounts for you. All transactions will be discontinued until the NSF issues are resolved.

11) Are we allowed to transfer salary savings to general operating and vice versa? If
so, how do we do that?

The departments are not allowed to move salary savings to the general operating account without the President’s approval. Requests for salary savings transfer should be forwarded to the Budget Office on or before May 31.

12) What’s the difference between a permanent budget transfer and a temporary
Budget transfer?

A Permanent budget transfer is a transfer that you want to be carried over to the next fiscal year (BD02), while a temporary budget transfer is a transfer that you want to take effect only in the current fiscal year (BD04).

13) How do I transfer budget from one cost center to another?

Transfer of budget from one cost center to another can be accomplished by filling out a funding transfer request form and having it signed by duly authorized cost center administrator and/or department head. Please note that funding transfer forms should be forwarded to the department who is responsible for processing the transfer.

14) Can I move budget from a designated or restricted cost center to an unrestricted Cost center?

Yes, the Budget Office would move budget from a designated or restricted cost center to an unrestricted cost center only to cover deficits in an unrestricted cost center when no other funding source is available.

Transfers from a designated or restricted cost center to an unrestricted cost center during the year can be forwarded to the Comptroller’s Office for processing.

15) What is the difference between a Funding Transfer Form and a Budget Transfer Form?

A funding transfer form is used to transfer funds from one cost center to another. Please send this form to the Budget Office and/or the comptroller’s Office depending on nature of transfers. Transfers from an unrestricted to another unrestricted cost center is to be sent to the Budget Office and all other transfers are to be sent to the Accounting dept.

Budget Transfer Form is used to transfer salary budgets from one position to another. This form is sent to HRIS for processing.

16) Should all Funding Transfer forms be forwarded to the Budget Office?
Whose signatures are needed?

Funding transfers from an unrestricted (110001, 1200xx) to another unrestricted cost center should be forwarded to the Budget Office.
Funding requests for capital projects should also be forwarded to the Budget Office.
All other funding transfers, not related to salary accounts, should be forwarded to the Comptroller’s Office. Transfers that affect the salary accounts should be forwarded to HRIS for processing.
All funding transfer forms should be signed by the department budget administrator and/or department head.

17) When is the deadline for submitting a routine Funding Transfer Form?

The deadline for submission of routine Funding Transfer forms is May 31. Funding transfers to cover deficits are the only request that the Budget Office will process after the deadline.

18) Our designated cost center received revenue, how will this increase in revenue be reflected in our budget?

The Budget Office monitors revenues posted in designated cost centers on a regular basis, once every two weeks. If revenue is posted on a designated cost center, the Budget Office will increase the budget on such cost center based on amount of revenue received and will be posted in account code 4999.

19) What is an estimated budget for designated, restricted, sponsored and plant cost centers?

Estimated budget for designated, restricted, sponsored and plant cost centers is the amount of budget that the Budget Office enters into the system for cost centers whose balances roll to the next fiscal, which is equal to 90% of the cost center’s remaining balance as of May 31 of the current fiscal year. This is usually entered when the Systems Administrators open the new fiscal year on or about the second week of June.

20) When will you see the actual budget for designated, restricted, sponsored and plant cost centers?

Once the cost center’s actual fund balance is determined after the fiscal year-end close, estimated budgets are then reversed and actual budgets are entered into the system which usually occurs around mid-August.

21) What cost centers get charged a 15% overhead tax?

Self-funded designated cost centers under a college are charged a 15% overhead tax.

CAPITAL PROJECTS

22) I’d like to start a renovation project? What do I do?

If you would like to start a renovation project, please contact the Office of Planning, Design and Construction. They would be able to direct you to the proper department like Facilities or Center City Facilities depending on the nature and scope of your project.

23) How do I transfer funds into my capital project?

The Project Manager will send a funding transfer request to the Budget Office.

24) What’s the process for setting up a capital project and creating a budget?

A new cost center request form is first sent to the Budget Office. Our office makes sure that the form is completely filled out, with funding source indicated (if known) and signed by duly authorized signatories.
The completed form is then forwarded to the Comptroller’s Office to set up a new cost center number. Once set up, the form goes back to the Budget Office to create the budget. The Budget Office prepares the capital project funding transfer form and sends it back to the Comptroller’s Office to enter the budget into the system.

All capital projects to be funded from University Cash require an approval from the SR. VP for Finance and Treasurer before funding could be processed.

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