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Preparing the FY 2014 Budget
Please be advised that the FY 2013 budget will be rolled to the FY 2014 working budget during the week of Feb. 1.
What does this mean? When the budget is rolled, a snapshot of the existing FY 2013 budget (the Original Budget plus any permanent budget changes or revisions made through this date) becomes the FY 2014 base budget. In many cases, this is the Original Budget you will see on July 1, 2013.
For the new FY 2014 budget, temporary or one-time budget changes (BD04 and BD05 Journal Types) made as of the budget roll date will be instructed by the process to return the funds back to the org and subaccount from which they were removed. On the other hand, all permanent budget changes as of the budget roll date (F240 and F241 Journal Types), will be instructed by the process to leave the funds in the org and sub account to which they were initially moved. This will not impact the FY 2013 budget, only the FY 2014 base budget.
In light of this, please consider any permanent changes that are required for your budget and process all permanent budget changes that you would like reflected in your respective FY 2014 Original Budget by Monday, Jan. 28. Budget revisions that require Budget Office approval should be submitted as soon as possible to allow sufficient processing time prior to the scheduled budget roll.
Although many budget revisions made during the year are processed as BD04 and BD05 one-time transfers, you may have the need to process permanent budget changes in order to realign your respective budgets considering prior, current and/or future spending needs. This will ensure a more accurate budget for your respective department/program on July 1, 2013, and provide a solid budget management tool.
After the budget roll is completed, the Budget Office will inform the community via an announcement in UNotes.
If you have any questions or need further assistance, please do not hesitate to contact Rohan Patel, budget analyst, at ext. 5573; Prashanie Silva, budget analyst, at ext. 5587; or Melissa McCaw, budget director, at ext. 4153.