Business Office

Budgets

Forms

Budget Process

Daemen College begins the annual budgeting process in January each year. An approximate timeline of the budget process follows:

January 31 Departmental budget request forms are sent to academic department chairs and administrative department managers. These capture all non-salary requests for the upcoming fiscal year.
February 28 Departmental budget requests due back to the business office for preliminary analysis in establishing tuition rates for upcoming fiscal year.
March 1 Salary budget request forms are distributed to divisional deans and cabinet members, with a due date of March 25th.
March 31 Preliminary budget models completed by the Business Office for Cabinet members.
May 15 Cabinet recommends tuition and fee rates for upcoming budget, and a completed master budget is presented to the Board of Trustees to adopt as the Preliminary Budget.
September 15 Final enrollment figures are established, and a Final Definitive Budget is presented for approval by the Board of Trustees.

NOTE:  Daemen College operates on a fiscal year basis from June 1 to May 31.

Specific Instructions for preparation of budget spreadsheets:

  1. Excel Spreadsheets are provided to each department to capture the budget requests for the upcoming fiscal year. Each department will be provided with a two-year history of actual cost figures as a historical basis for requests. The Business Office asks that chairs and administrative department heads prepare their requests by completing the column titled “Budget Request.”
  2. Wage requests should not be included, as staffing and salary levels are determined by the Cabinet.
  3. Equipment (51503) must include items with a useful life of one year or more and a cost over $5,000. Purchases that do not meet this threshold should be included in supplies.
  4. Supplies (51502) should include the following items of cost:
    • Office Supplies
    • Machine Maintenance Costs (if you do not have a repair & maintenance account)
    • Telephone Charges
    • Other Expenses
  5. Postage (51506) should include mailroom charges and other postage costs for mailings and correspondence.
  6. Travel (51505) should include the estimated costs for each convention/meeting including fees, travel costs, hotel, meals, etc.
  7. Printing (51507) should include costs for Print Shop charges, photocopies, and other outsourced printing expenses.
  8. Other Accounts – certain departments may require other specific accounts. If you anticipate costs that are not properly reflected in one of the accounts above, please list these additional accounts along with the requested funding for inclusion in the budget.

Please be certain to include requests for new programs or initiatives on the budget request forms.

Budget Reports

Monthly:

The Business Office asks all reporting departments to submit monthly allocation charges to Marsha Hallen by the 10th day of the following month. Examples would include print shop, mailroom, bookstore, copy charges for certain departments, etc. These monthly charges will be posted to the Datatel accounting system, after which the closing process updates the ledger. Actual vs. Budget reports are available on-line on the Datatel WebAdvisor screens.

Generally Accepted Accounting Principles require that expenses be recognized in the period which benefits from the expense. Therefore, unspent funds at the end of the fiscal year cannot be used for expenses which benefit the next fiscal year, nor can these funds be carried over to the next year.

Beginning on June 1, the Datatel system operates with dual fiscal years. This procedure enables the external auditors to complete their audit of our financial statements during the summer without inhibiting the college’s ability to spend under the approved Preliminary Budget.

All departments should limit their spending during the summer to 25% of their preliminary budget amounts. Any spending over this amount must be approved by the appropriate Vice President or Dean. Questions regarding specific amounts approved in the preliminary budget may be directed to the controller’s office.

At the completion of the financial audit, the fiscal year as of May 31 is closed.

After the Board of Trustees approves the Definitive Budget in September, the remaining 75% of the budget is available for use.