Budget Projections

Utilizing Banner Information

Grant Brown Bag Information Session

December 18, 2012
BUDGET PROJECTION
TOPIC COVERAGE
Uses for budget projections
Responsibility for budget projections
How to create a budget projection file
in Excel
How to find & export information
from Banner
How to project that data out to
the Fiscal Year End(s)
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Budget Projections are useful!
Budget Projection Uses
Plan spend down of remaining
funds
State required budget
projections
Mid year & Year End
Budget Modification tool
Aids in finding errors or
omissions
The list of uses and users goes on extensively!
Primary Users
Grant Director
Business Office; State of RI
Institutional Advancement,
Controllers Office, Grant
Director, Funding Source
Grant Director, Controllers
Office, CCRI, Funding Source
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 Mid-Year Budget Projections
Due in Mid-January heres why we do
them:
CCRI is required to submit a mid-year review of
its budget to the Office of Higher Education (OHE)
for review and approval.
Mid-year review is an update on all sources of
funds, not just state funds and tuition and fees.
Opportunity to identify changes occurring since
the beginning of the year & identify problems that
may exist that require action.
Need to know how much you think youll spend by the
fiscal year end (June 30th)
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Who Owns the Budget Projection?
The ultimate responsibility of creating a
budget projection lies with the Grant
Director
Although the Controllers Office &
Institutional Advancement are happy to help,
the grant director is the only person who can
fully create a budget projection
Administrative personnel do not know the
intricacies of the grant
E.g. staff departures, planned operational spending

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BUDGET PROJECTION CREATION
Create the Base Projection file
Open Banner; Open FRIGITD; Input Fund#
Next block (this may take a while to load)
Once data
populates
go to Help,
select
Extract Data
No Key
Hold Ctrl key!
This exports to
Excel
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BUDGET PROJECTION ~ BASE FILE
The exported file will need titles & formatting
Add four lines at the top; Insert Grant Name & Fund #
Add titles on columns listed below
Add two new columns: Projected Exps. & Projected Balance

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BUDGET PROJECTION ~ BASE FILE
Format columns D thru I with comma style
Adjust the column widths of columns B thru I

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BUDGET PROJECTION ~ BASE FILE - continued
Create a formula for the Projected Balance
This is the Current Available Balance MINUS Projected Expenses
In the Proj. Bal. (column I), you type in:
=G5-H5
Copy this formula down for all of the lines (drag right corner)

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 BUDGET PROJECTION ~ BASE FILE - continued
Enter a SUM formula at the bottom of all columns
Use AutoSum in
the top right corner of
excel

Put cursor in cell

below the column
you want to sum.
Click AutoSum
Copy for all columns10
Obtain Personnel Projection Data
In Banner, determine the last pay period posted
to Banner for biweekly & lecturers (monthly)
In FRIGITD or FGIBDST, drill down the Payroll lines
& take note of the Payroll # in description
Click inside the Activity column for the payroll line

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 Obtain Personnel Projection Data
continued
With the cursor inside the Activity column
for the payroll line, go up to Options
Select Grant Detail Info if in FRIGITD
Select Transaction Detail Info if in FGIBDST

The most recent

payroll is usually
on top. Below is
BW24

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 Obtain Personnel Projection Data
Biweekly Employees
In Banner, go to NHIDIST & query the last paid
payrolls posted in Banner (BW24 in example)
This screen shows payrolls by the date they were paid.
Go to HR site for date listing1
Enter in the pay date of the last pay period posted in
Banner, enter Fund #, then Next Block, Execute Query

BW Pay Period
24 was paid
11/23/2012

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 Obtain Personnel Projection Data
Biweekly Employees
After the data populates, you can either query within
the NHIDIST screen, or export to excel. To export, go
to Help, then select Extract Data No Key (Hold Ctrl key!)
If exporting, then add titles as shown below
AFTER titles are added, adjust column widths & then
delete columns: Z, Q T, I - L

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 Obtain Personnel Projection Data
Biweekly Employees
On the personnel data, sum the total for each account
number
Can use the Subtotal function in excel for faster results
Highlight the entire data field
On the Excel Data tab at the top, click Subtotal

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 Obtain Personnel Projection Data
Biweekly Employees

After clicking the Subtotal icon:

Select: Acct;
Sum;

Check: Dollars;

Uncheck: Replace current subtotals

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Biweekly Personnel Data - After Subtotals

Acct totals
to use in
projection
column

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 Obtain Personnel Projection Data
Monthly Employees
Go into Banner, NHIDIST screen again, and look up the
monthly employees
Enter a wide date range to ensure you are capturing all
employees
Enter the grants Fund #, then click Next Block

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 Obtain Personnel Projection Data
Monthly Employees

In the lower section, scroll to the right and enter

MN in the field to the right of Payroll Event
Click Execute Query

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 Monthly Personnel Data

Shows monthly employees. Use this

data to verify employee pay rates,
calculate average hrs/mo. worked, &
ensure all are included in projection.
Can export info to excel Help
dropdown, Extract Data No Key
(hold ctrl key)

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 Input Personnel Data in Projection
Biweekly Projection
Determine # of pay periods between the last
payroll posted to Banner & 6/30 (or desired
date)
Use HR Pay Schedule to count # of Pay Periods
between the last payroll per. posted to Banner & 6/30
= 16 Pay Periods (BW24 to BW14)
In Budget Projection Base file, enter formula for
each biweekly account line based upon the
Subtotaled Payroll file
Dollars per For account 611040, the formula would be
Pay Period =705.60*16
TIMES For account 612033, the formula would be
# Pay Pers
to June 30th
=3412.58*16
Do this for all biweekly account lines 21
 Input Personnel Data in Projection
Monthly Projection
Determine # of REMAINING monthly payroll
periods
The # in The # in the MN payroll is the month it is paid.
MN payroll Monthly employees are paid the month AFTER they
is the work, so MN11 is for October
month it is
paid Last monthly payroll was MN11 (October) so 8
months to get to 6/30
The monthly employees formula will be
somewhat different than for biweekly people
Determine the # hours each monthly
employee will work (best to use average
estimate), multiply by pay rate, then multiply by
remaining months
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Input Personnel Data in Projection
Monthly Projectioncontinued
Monthly employee formula (do for each employee)
Avg hrs/mo X Hourly Pay Rate X # months to Year End

In our example, assume Natalie Wood works an average of

70 hrs/mo, her pay rate is $20/hr (8 mos left)
Formula will read =70*20*8 for Natalie
Van Morrison & Charlie Brown also work on that line, too,
so well have to include them in the formula, too
Assume Van works 60 hrs/mo @ $20/hr,
Charlie 15 hr/mo @ 15.54/hr

Overall formula will read =70*20*8+60*20*8+15*15.54*8

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 Input Personnel Data in Projection
Monthly Projectioncontinued
Most Monthly employees only have FICA as fringe
on their pay (FICA Lecturer 644020)
Create a formula based off the monthly employee salary
line(s). FICA is always 7.65%.
FICA = 7.65%
In this case, the
formula will be
=H7*7.65%

With this
method, FICA
will update if
you change the
employee pay
projection
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Incorporate Operating Expenses
This part is for the Grant Director!
Go through the various Operating
Expense lines (i.e. Office Exp, Mileage) and
put in your estimates of what you think
youll spend by 6/30
It can be helpful to jot down planned trips,
classes, etc.
Enter the dollars you think youll spend in the
projected column do not enter anything in the
Indirect line yet!

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Indirect Cost Expense Help!

This can be tough to calculate, so dont hesitate to

ask for help on this one!
The most accurate way to do this line is via formula
(sorry)
If done via formula, it will automatically update as you
make changes
Your formula will be the sum of all expenses
applicable to indirect multiplied by your indirect
rate (or indirect rate + audit)
See next slide for example formula details
If the formula is giving you trouble, then once you
feel you have all expenses estimated, then multiply
the total projected expenses by your indirect rate

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Indirect Rate formula Indirect =
Cost Base
X
Indirect Rate

If the Indirect Cost line

isnt the last line, then
cut & paste to be the
last line you will
probably need to fix
your totals at the
bottom

Assuming an 8% rate
applied to all expenses,
the formula will read:

=SUM(H5:H31)*8%

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Let the Budget Games Begin!
After incorporating all necessary
expenditures, take a look at your Projected
Balance column
If there are negatives, youll need to create a
budget modification to cover those negatives
You may notice that you have more money
to spend!
Adjust dollars where
necessary & ensure you
have enough for the full
grant term
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Summary of Projection Steps
Export current budget detail from FRIGITD to
excel to create projection base file
Add titles to columns & create Projection columns
Determine last pay period # posted to Banner
calculate # pay periods to year end
Export most recently paid biweekly payroll
Subtotal the expenses by account number
Determine monthly employees rates & average
hours
Input payroll formulas into projected column
Input projected operating expenses to year end
Input Indirect Rate formula (if applicable)
Adjust lines as necessary
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Questions & Comments

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References
1HR Pay schedules can be found at:
http://www.ccri.edu/hr/calendars/
Banner Screens:
FRIGITD Grant Inception to Date (shows multi-
year)
FGIBDST Organization Budget Status (shows
current CCRI fiscal yr only)
NHIDIST Labor Distribution Query (shows labor
for specified pay ranges)
Excel Resources:
Ask IT they hold great training sessions
Lynda has online video modules - go to:
https://webfor.ccri.edu/lynda/index.cfm
URI Prov. Feinstein 1-day course (Prof. Development)
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