Budget

Principal Executive Staff (PES) and the Advisory Council on Finance, Personnel, and Development review the college budget each fall and then consider potential revenues and expenses for the following fiscal year. These groups recommend a budget to the president (generally in late January) and the budget is presented to the Trustees in April for their review and approval.

For current year details, please visit our Budget Information (login required) page on Inside Davidson.

View Your Department Budget

Budgets may be viewed using Banner INB (real-time activity), Banner Self-Service (real-time activity) or Inside Davidson (one-day lag). Additional information on these options can found on Banner Finance.

Department Budget Due Dates 

Budget packages are generally distributed in March with a due date of early May. You will receive an email from your vice president and/or supervisor when budget spreadsheets are available. The Business Services Office enters department budget information into Banner so it will be available in Banner on July 1.

Department Budget Spreadsheet Tips

Deadline

FY15 Budgets due to Business Services: May 7, 2014

Changes to Spreadsheet

Each budget worksheet feeds into a Divisional Summary spreadsheet. Please complete only the shaded areas of the worksheet and do not make any other changes (i.e. eliminating rows/columns, adding rows/columns, etc.)  If you do need to have a change made to your budget worksheet, please contact our Business Services Office so that we can make this change for you.

Budget Amounts

Update the amounts in the FY15 Annual Budget column to reflect your departmental budget. The spreadsheet is set up so that the budget for FY15 is equal to your budget for FY14, adjusted (when applicable) for any budget reductions, approved increases and/or one-time items from FY14, provided we were given the account number(s) to adjust.

If we did not know the specific account to adjust, you will see a line that includes the change to your budget. This amount must be allocated to individual budget line items prior to submission.

You many reallocate funds between line items, but your total budget must not change, unless you have approval from your vice president.

If you need a new account number, please email us for assistance.

Line Items

Input the monthly amounts for each line item. This step is crucial for proper cash flow and budget projection, so please analyze each line carefully to properly spread expenses/revenues to the months in which the activity will occur. If you have line items that are incurred evenly during the year, type "even" in the even column for automatic completion.

Monthly expenses for the current and prior years can be accessed via the Inside Davidson report, Expenses By Month, located in the Departmental Budget Reports folder.

Compensation Items

The following accounts are considered operating expenses and you must be budget for them, if applicable. This item does not apply to Auxiliary Budgets as those departments are required to budget for both compensation and operating expenses.

  • 611016 Supplemental pay*
  • 611023 Temporary administrative employees*
  • 612023 Temporary bi-weekly employees*
  • 612100 Overtime*
  • 613220 Student assistants**
  • 614000 Casual labor*
  • 622000 Meals
  • 623500 FICA - Temporary workers
  • 625000 Moving Expense
  • 627000 Rent
  • 628020 Workers Compensation
  • 631000 Physical Exams
  • 632000 Awards for Employees
  • 635000 Section 457 Plan
  • 636000 Section 457(b) Plan

*Item is subject to FICA at a rate of 7.65 percent. This amount should be budgeted for in account 623500.
**Students are exempt from FICA during the school year. Therefore, FICA need only be calculated on student assistants who work during the summer months.

Saving Your Work

When saving your spreadsheet, a dialog box may pop up asking you if you want to "save a copy" or "overwrite changes." You should select "overwrite changes."

You should verify that no line items are out of balance. Out of balance indicators are included on both the individual department's worksheets as well as the divisional worksheet.

Completion

Once your FY15 budget and monthly spreads are complete, notify your vice president or supervisor who will collect all of your divisional spreadsheets and submit them to us. Your vice president will provide you with the date by which your spreadsheet needs to be completed.