Budget Development
Continuing to strategically align the budget with campus’s priorities and increase the transparency of budget development. Our budgets will be set and finalized via the campus budget preparation process. Therefore, non-emergency off-cycle requests will not be considered until the next budget development process.
Fiscal Year 2023/2024 Updates
On Jan. 31, 2023, the director of budget and financial reporting issued the FY 2023/2024 budget development memorandum to the president’s cabinet.
IFR/SUTRA Budget Development
Upcoming Budget Training Sessions
IFR accounts generate revenue related to self-supporting services and activities beyond
those
funded in the core operating budget (State Operating Fund).
The budget and financial reporting office will be hosting IFR/SUTRA Budget Development Training sessions on February 15 at 10 a.m. and February 16 at 2 p.m. in Hawkins 141 to assist account managers with completing their FY23/24 budgets. To sign up for a training session please email Rosy Hearns, senior budget analyst, at [email protected].
Additionally, the budget and financial reporting office will be hosting two budget development open sessions in the Kehoe 6th Floor Conference Room. These sessions will be held on February 27, 2023 from 9–11 a.m. and March 8, 2023 from 1–3 p.m. Account managers can stop by the open sessions to ask a member of the budget and financial reporting office a budget question or to seek assistance in completing their respective budget templates.
Budget Development Timeline
Budget 101 Training
Learn more about budget basics in the Budget 101 Training Guide.
Budget Facts & References
- Fiscal Year 2023/24 summer pooled offset rate 31.0%
- Fiscal Year 2023/24 fringe benefit rate 67.05%
- Fiscal Year 2024/25 estimated fringe rate 66.66%
- Administrative overhead rate 5.6%
- Maintenance overhead rate 8.7%
- Minimum wage $14.20 effective 12/31/2022
- Budget Sub-Object Codes
- IFR/SUTRA Budget Development Template
- IFR/SUTRA Fund Guidance — Fiscal Year 2023/24