Before completing your budget construction, you will need to complete a few additional tasks. This page provides guidance on the final reports and documents necessary to complete budget construction. Please email vpfinadm@indiana.edu with questions.
2plg temporarily keeps the account’s budget in balance during salary setting. Open the account(s) and determine if you need to adjust the budget, and then delete the 2plg entry. All plg entries must be deleted prior to the RC being pulled up by the campus.
Payroll Synchronization Problems: This report reflects instances when information in PeopleSoft no longer agrees with the information in Budget Construction. Example: A Maintain Position E-doc processed that changed an attribute of a position already budgeted in BC.
Be sure to log in with your username with @iu.edu. Navigate to Annual Reports (top tab) and FY24 Tasks (left tab) to access the FY25 BC Edit Checks and FY25 BC Edit Checks Non-Comp. NOTE: FY23 Tasks tab reports are there for information only, do not confuse these reports with the ones you need to use for FY24. The FY24 reports will be available starting April 29. New this year - a summary check page has been added to each report to quickly help you identify which checks need attention. Use the instructions in red (top left) of each report to identify what needs to be done with the information. Please direct questions, errors, or future enhancements to John Tweedie (jtweedie@indiana.edu).
Our primary focus in budget development is the responsible stewardship of IU’s resources. Each unit is accountable for how they allocate funds, and decisions should be guided by a continued spotlight on strengthening the student experience—including affordability—and investing in strategies that foster excellence in our core missions of teaching, research, and service.
The FY25 budget narrative:
• Should consider all funds (GF/DS/RF/AE).
• Should be submitted as a Word document.
• Should include responses to the topics below in the same order as listed.
Please include the following:
a. Overview your unit’s fiscal health
What strategic initiative(s) are planned for FY25 and reflected in your proposed operating budget? Will these initiatives require a significant use of reserves?
b. Planned investments that were removed due to financial constraints
Outline any concerns you have about being able to maintain a balanced budget and fund strategic priorities going forward?
c. Summary of financial impacts resulting from changes in operating revenue
Highlight any areas that are financially concerning? What are the primary drivers for those concerns (enrollment declines, operating expense growth, commitments, etc.)? What steps have been taken to mitigate financial pressures resulting from reductions in revenue and/or growth in expenses?
d. Enrollment Outlook (Academic Units)
Provide a summary of your unit’s enrollment outlook as reflected in the FY25 operating budget.
e. Utilization of Foundation Funds
An effort should be made to increase the utilization of foundation funds. Please outline budgeted and projected Foundation spend for FY25.
f. Compensation policy
Provide an overview of your unit’s implementation of the campus salary policy. Please include average percentage increases for faculty and staff. Please describe any increases or decreases in FTE for both faculty and staff expected for FY25.
g. Planned Uses of Reserves
Provide a list of your current FY24 Planned Uses of Reserves and FY25 Planned Uses of Reserves.
