Finance team outlines budget procedures

Center News

Learn about Center's current financial environment and changes to the 2008 budget process

Photo by Stephanie Cartier If you have questions about the fiscal year 2008 budget procedure, contact finance team member Kristin Egbert (left), financial analyst; Lisa Nichols, financial analyst manager; or Dave Pon, director of finance.

The Center is facing a challenging financial environment for the fiscal year 2008 due to historical cost increases and the continued tightening of the National Institutes of Health budget. The finance team has sought input from administrative vice presidents and the scientific division administrators in the fiscal year 2008 budget target-setting process, which is currently under way. Budget targets will be distributed the first week of March. The fiscal year 2008 budget presumption is "status quo" or no growth.

Changes to the operating budget

All budget preparers should be aware of some changes the Finance Department has made to budget forms and timelines.

The budget-submittal form remains substantially the same as last year's form. However, new for fiscal year 2008 is the contingency-budget form. Budget requests for new positions, new development, interim funding and bid and proposal must be submitted using the contingency budget form (shaded green). Budget dollars will be allocated to specific projects on a "just-in-time basis" for spending when the actual need arises in fiscal year 2008.

Fiscal year 2008 operating-budget schedule
(Operating-budget status will be available via Crystal Reports.)

• Budget forms were distributed in February.
• Initial budget requests are due 8 a.m., Monday, April 9
• Review and analysis of budget submittals, April 16-May 9
• Finance Committee review, May 10-17

Fiscal year 2008 capital-budget schedule
(Capital-budget status will not be available via Crystal Reports.)

• Initial capital-budget requests are due 8 a.m., Monday, April 2
• Analysis and review of capital-budget submittals, April 2-May 9
• Capital-budget meetings and revision, April 3-May 9
• Finance Committee review, May 10-17

If you have questions about the budget process, contact Kristin Egbert at kegbert@fhcrc.org.

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