In response to unit requests for earlier and/or longer access to AggieBudget to work on their Final Budgets, FY20-21 Final Budget is now available for editing (remaining open through mid-September). As this is earlier than we normally open for Final Budget, we’d like to make you aware of some changes and alert you to some things you may not have expected.
FY20-21 Final Budget Changes
- Prior Year Carryforward Balance and July 1 Base Budget amounts will initially be set to zero as FY19-20 has not yet ended. When the fiscal year closes in KFS, plan files will be reprocessed to include the updated actual amounts. Please see additional detail in the next section.
- GAEL and benefit rates have been updated. (See the corresponding assumption Reference reports in AggieBudget for details.)
- Merits have been set to 0% for unrepresented staff and ranges set to 0% for academics. Represented employee merit and range assumptions remain the same as they were in the Preliminary Budget.
- Commitments have been uploaded to reverse the block grant and budget reduction targets that were included in your Preliminary Budget.
- New commitments have been uploaded, representing block grants for represented employee groups and adjusted budget reduction targets. The base targets have been adjusted downward to reflect the estimated portion of the represented merit and range that is not covered by the block grant.
Commitments related to budget process decisions will be uploaded a few days after the decision letter comes out. Users will be notified when the specific date is known.
Planning Without Carryforward and Base Budget
We recognize that planning without carryforward and base budget is not ideal. However, we felt providing users more time to plan with missing carryforward and base budget was preferable to waiting until the close of FY19-20. Here are some items you can plan for while waiting for FY19-20 to close that will not be affected by the missing carryforward and base budget values:
- Labor planning – funding lines on the Personnel sheet and OtherComp sheet can be updated to reflect new information and plans.
- Expense planning – update expenses in account blocks in the budget plan files to reflect new information and plans.
- Income and recharge revenue planning – update income and recharge revenue in account blocks in the budget plan files to reflect new information and plans.
We do not recommend entering placeholder values for July 1 Base Budget as that would cause double counting once FY2019-20 closes in KFS and plan files are reprocessed.