Second Quarter

Dear Colleagues,

The University’s FY2026 Second Quarter (Q2) Forecast process will begin on January 5th. This quarterly confirmation is a critical checkpoint for assessing where each school, college, and administrative unit expects to end the fiscal year, based on the most current information available.

In collaboration with the Office of Budget & Planning, we are asking each unit to provide a clear, forward-looking assessment of expected year-end performance relative to budget. This should include your best estimate of final FY2026 revenues and expenses, as well as a thoughtful evaluation of factors that could cause performance to change between now and year-end.

Specifically, Q2 submissions should:

Clearly state your expected year-end fiscal position (surplus, deficit, or aligned with budget) and quantify any projected variance from budget.
Identify and explain any unfavorable risks or unforeseen expenses that may emerge later in the year (e.g., contractual cost increases, enrollment-related pressures, delayed reimbursements, compliance or operational needs).
Outline favorable variances and additional savings opportunities, including travel and meeting reductions, delayed or canceled initiatives, hiring and salary lapse savings, discretionary spend controls, or other actions that could improve your year-end position.
Reflect the impact of short- and long-term fiscal controls already in place and identify whether those controls are sufficient or if further action may be needed.
Include an all-funds perspective, with a review of projected spending and available savings on designated and restricted accounts, where appropriate.

Any material variances—favorable or unfavorable—should be clearly summarized and explained in an accompanying memo. If your area is not projecting a material variance, we still expect that you will have completed an internal review and can confirm that your unit is currently tracking to plan.

FY2026 2nd Quarter Forecast– Due Thursday, January 15th

Instructions for completing your submission via the Integrated Planning (IP) tool are located on the Budget website.
All memos and supporting documentation should be returned via e-mail to budgen@bu.edu.
If you have no material variances to report, please submit an email confirming you have no variances to report at this time to budgen@bu.edu.
Line item variances that do not contribute to the total income or total expense variance can be adjusted via the Budget Realignment Template.

As we continue to navigate a dynamic financial environment, disciplined forecasting and early identification of both risks and opportunities remain essential. Your candid assessment of expected year-end performance—and proactive identification of additional savings—will help ensure the University remains financially resilient and aligned with our strategic priorities.

Please feel free to contact your Budget Analyst directly for assistance or guidance with this process.

Thank You,

Maria Cruz

Associate Vice President for Budget, Planning and Business Affairs