Stage I – Provost Areas
FY 2016 BUDGET DEVELOPMENT (STAGE I)
INSTRUCTIONS AND BUDGET HEARING MATERIALS
The following materials should be completed and returned via email to the Office of Budget and Planning (firstname.lastname@example.org), no later than October 24, 2014.
1. A summary memorandum from the appropriate Vice President, Dean, Director, or Department Head that supports your Fiscal 2015 budget proposal. The memo should incorporate the following:
Provide a high-level summary of how all available funds were used over the last year to support the academic mission of your school/college.
Identify top strategic priorities for Fiscal 2016 and provide high level detail of not only what incremental new funds are necessary to achieve each initiative, but also what existing funds can be reallocated.
Include ideas for areas of efficiencies and cost savings (if applicable).
Suggest areas of revenue improvement (if applicable).
2. The Budget Development Summary Template, which is designed to organize and summarize any proposed changes into functional categories and should include items listed above. As this template will provide a greater amount of detail than the summary memo, please ensure that each line is annotated with the corresponding initiative described in the memo.
Please be aware that you may be asked to provide more detailed information regarding your memorandum and Development Summary template.
Other important items to note:
- Areas that are required to fund salary increases internally should include adequate salary reserves for regular full-time and part-time employees.
- The Fiscal 2016 Fringe Benefit Rates have not yet been established. If fringe benefit charges are expensed to your area(s), please use the Fiscal 2015 rates.
- For additional information, clarification, or assistance, please do not hesitate to contact Alison English at extension 3-2288, or your budget analyst at extension 3-4330, or visit the Budget and Planning website at www-staging.bu.edu/budget.
- For Schools & Colleges, similar to last year, supporting materials will be available on the Budget, Planning, & Institutional Research Sharepoint website. The documents will be available during the week of October 20st. These materials will include enrollment, employment, and financial data for your area (reports like the Key Indices Dashboard, Cost Study Report, etc.).