Proposed Self-Support Account Budgets General Guidelines

Generally, budgets will be requested for accounts with personnel, accounts with expected expenditures greater than $25,000, accounts with deficit conditions, and others as deemed appropriate by division heads. Budgets will not be required for grants and contracts or incentive funds, plant funds or agency accounts. If an activity will be discontinued, enter a zero on all budgeted lines and click the “Close this Account” button at the bottom of the worksheet. You will be asked to provide account information to close any balances to. If you have a new activity for FY 2008-2009, complete a “Request for New Account” form available at MyUniverse/Memfis Forms, and submit to the Financial Accounting & Reporting Services office. When an account number has been assigned, a Self-Support Account Budget can be completed and routed using the Budget Adjustment functionality.

Actual Prior Year July 06-June 07 - reflects revenues and expenses for the twelve months that ended June 30, 2007.

Actual Current July 07-June 08 - reflects actual revenues and expenses for the eight months that ended March 31, 2008.

Actual Projected July 07-June 08 - reflects TOTAL expected revenues and expenses for FY 2007-2008. This column is not required, but is highly recommended and will assist the preparer with the completion of the FY 2008-2009 budget.

Budget Current July 07-June 08 – reflects the original FY 2007-2008 budget and adjustments processed through March 31, 2008.

Budget Proposed July 08-June 09 - needs to be completed with BOTH proposed revenues and proposed expenses for the fiscal year July 1, 2008 through June 30, 2009 .

Revenue : Rate changes, new sales or significant variances from the current year may need explanation (Comment column). Proposed "Transfers In" should be explained and include Oracle account numbers.

Activities should at least break-even. Generally, a previous year fund balance carried forward is considered available for non-recurring expenses but is not recommended for recurring costs like salaries.

An account with a deficit balance should identify a specific plan and timeline for eliminating the deficit (Comment column and/or contact Budget).

Salaries : Individual salaries for Faculty, P&S and General Service employees will be determined later on separate salary worksheets. In preparing these activity budgets, estimated salary increases have been pre-populated on the worksheets. If major staffing changes are not anticipated, no additional entries should be required in this section. If you DO anticipate staffing changes, please contact Budget.

Supplies and Services : For FY 2008-2009 one total may be budgeted for Supplies and Services expenses OR departments may budget at the object code level.

Proposed " Transfers Out " should be explained and include Oracle account numbers.