August 14, 2019 Business Forum

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August 14, 2019

Business Forum

Baker University Center 242

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Business Forum Agenda

? Budget Partner Group Representation ? Accounting and Reporting Partner Group Presentation ? Key Announcements - Finance

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Budget Partner Group Agenda

? Budget Partner Group Charge ? Budget Partner Group Representation ? FY19 Goals ? FY19 Outcomes ? FY20 Budget Update ? FY21 Budget Planning ? Discussion

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Budget Partner Group Charge

Co-chairs: Mike Finney & Katie Hensel

To facilitate productive communications between the planning units and the Office of Budget Planning and Analysis to enhance the tools, training, and resources that make the annual budgeting process efficient, meaningful and accurate.

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Budget Partner Group Representation

The Budget Partner Group is co-chaired by the Director of Budget Planning & Analysis and a member of the RC Strategy Group, as selected by the RC Strategy Chair. The RC Strategy Group Co-chair will serve a 2 Year term.

RC-Strategy Co-Chair: Mike Finney, CFAO of the Voinovich School All campus planning units have at-least one member on the committee.

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FY19 Budget Partner Group Goals

? Enhance existing tools and develop new tools that facilitate efficient budgeting

? Train members on how to effectively budget and estimate revenues and expenses

? Facilitate dialogue among members to encourage the sharing of ideas and techniques used across the University for effective budgeting

? Communicate best practices in budgeting to other planning units ? Better communicate the status of the University's strategic priorities

and budget process

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FY19 Budget Partner Group Outcomes

? FY19 BPG Templates and Tools workgroup met monthly to identify updates to the annual process for FY20 and FY21 that included:

1. Development of UG eLearning Template to highlight trends in future year enrollment planning that will impact other planning unit budget projections

2. New multi-year compensation budget planning tools that will replace the Salary Crosswalk

3. New Budget Packet design to complement the new compensation planning tool to enhance the efficiency of the BP Reconciliation process

? Future Analysis: Planning Unit FY19 Budget ? Forecast ? Actuals will inform additional budget enhancement tools for development in FY20

FY20 Budget: Reserve Forecast

Academic Reserves (In millions)

$140.0

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FY20 Budget Book Section 10.1

$105.0 $70.0 $35.0

-$65.8 M

+$26.7M

$-

Academic Reserves

FY17 $104.1

FY18 $114.6

FY19 $110.5

FY20 $80.3

FY21 $62.7

FY22 $50.5

FY23 $48.8

FY24 $56.9

FY25 $75.5

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