IMPORTANT: FY2024 Working Budget Files

Colleagues,

We are excited to kick off the FY2024 budget process! As one of the first steps in this process, we are sharing your FY2024 Working Budget files so that you can start making any necessary adjustments to salary lines and updating your operating revenues and expenses. Your Working Budget files can be found in our shared Box folder (FY24 folder/FY24 Working Budget File folder).  We encourage you to begin updating your file ASAP as there will be a quick turnaround this year.  

Later this month, we will send you a preliminary State Support control number.  Your control number will be calculated using your current FY2023 budget as the starting point and will be adjusted to cover your mandatory FY2024 expenses (COLA, merit, and minimum wage).  Your completed and balanced budget file is due to the AAOU SSC staff (Vania, Mike, and Martina) by Thursday, May 4, 2023. 

Should you receive any additional resources through the strategic budgeting process, your file will be sent back to you in June, and you will be given time to make those adjustments at that point.

Detailed instructions for completing your FY2024 Working Budget file have been embedded in the first tab of the file.  We also encourage you, or members of your team, to join the Central Budget Office (CBO) team for one of the two training sessions they are holding later this month (links below).  

IMPORTANT UPDATES:

All Funds Budgeting

For FY2024, we will be required to budget for all self-support and restricted funds (1112-1116, 1253, 1263).  Thus, the FY24 Working Budget files should include all estimated self-support and research activity.  The CBO has provided Trend Data by fund and account in the Working Budget files to assist with this task.

Turnover Expectancy

Beginning last year, Turnover Expectancy was budgeted as a percent of total State Support salaries.  We made the decision to budget this at the division level for FY2023 and will continue this in FY2024, with the exception of those units/departments that had previously established Turnover Expectancy budgets.  This is subject to change in future fiscal years as we perform further analysis to determine the best methodology.  

Finally, a series of time slots has been created between May 2nd and May 4th. Should you wish to schedule time with the AAOU SSC staff to help address concerns regarding your working file, please use the following link:

https://calendar.google.com/calendar/u/0/selfsched?sstoken=UUNZbVhZbTE4UV9nfGRlZmF1bHR8MWVjMTA3OTJlNWY5ZjdiYTFmNmRkNWQ2YjM5NjQ1NjM

We are here to answer any questions and provide assistance.  Thank you in advance for your assistance in the FY2024 Working Budget process!

Training Sessions: