UNC System's All Funds Budget Initiative & Strategic Priorities Overview
UNC System's All Funds Budget Initiative aims to enhance transparency in budgeting practices by requiring detailed reviews of institutional resources. The process supports strategic planning and allocation decisions, fostering financial sustainability and efficient resource management. Strategic Priorities focus on system-wide goals such as Access, Affordability, Student Success, and Community Engagement, aligned with the Institution's Bridge Strategic Plan for 2021-2022.
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All Funds Budget Business Affairs Committee March 25, 2022
All Funds Budget An initiative by the UNC System to encourage best practices in budgeting across the System by requiring increased transparency for fund types that have historically not been part of the Board of Governors annual review. 10/11/2024 Board of Trustee Business Affairs Committee
All Funds Budget (cont.) Forward looking plan of all expected revenues and expenses Generally, cash based and includes inter departmental transactional activity Increased focus on unrestricted fund sources and related uses Accommodates strategic planning and provides transparency in allocation decisions 10/11/2024 Board of Trustee Business Affairs Committee
All Funds Budget (cont.) By requiring a more robust review of all institutional resources, this process will provide a structural foundation for the execution of the System s strategic plan and the strategic plan of each constituent institution. Visibility Previous Budget Development Processes YES YES LIMITED --- --- --- --- --- --- --- --- Funding Sources All-Funds Budget YES YES YES YES YES YES YES YES YES YES YES Appropriations Tuition Fees Housing Dining Bookstores Parking & Transportation Athletics Contracts & Grants Other Trusts Funds Key Organization Units 10/11/2024 Board of Trustee Business Affairs Committee
All Funds Budget Instructions Required components to be summitted by May 4, 2022 Budget Template a) University Level Budget 1. Funds included - General, Auxiliary & Other Trust , Overhead receipts, restricted trust b) College and departmental unit budgets Narrative 2 pages, impact to strategic priorities Campus process checklist Approval by Board of Trustees 1. 2. 3. 4. 5. 10/11/2024 Board of Trustee Business Affairs Committee
Strategic Priorities System-wide goals Access, Affordability and Efficiency, Student Success, Economic Impact and Community Engagement, and Excellent and Diverse instructions Intuitional - 2021-2022 Bridge Strategic Plan Campus Health, Safety and Well-being, Academic Excellence, Financial resources, Diversity, Equity and Inclusion Improved Efficiency Financial Sustainability and Enterprise Risk 10/11/2024 Board of Trustee Business Affairs Committee
All Funds Budget includes General Fund Auxiliary & Other Trust Funds BOG Approved Student Fees(Ed &Tech, Debt Service, Athletics, Health, Student activities, Campus security, ,etc.) BOT Approved Fees -Housing, Dining, Book Rental and Transportation, Parking Fees Other Sales and Services - Sales Bookstore, Athletic Tickets and Guarantees, etc. Overhead Receipts Restricted Trust Grants State Appropriations Tuition 10/11/2024 Board of Trustee Business Affairs Committee
Funds excluded The following funds are not included in the All Fund Budget Foundation Endowment App Housing Corp Bond proceeds Capital construction cost 10/11/2024 Board of Trustee Business Affairs Committee
Organizational Unit Budgets Administrative Units Financial Aid University Administration Business Affairs Facilities Human resources Information Technology Public Safety Advancement Auxiliary Units Dining * Housing * Parking & Transportation * Athletics * Student Health * Other auxiliaries ( includes Book Store) New River Light and Power Academic Units College of Arts and Science College of Business College of Education LAB Schools College of Health Science College of Fine and Applied Arts School of Music Academic affairs Student Affairs Library Sponsored Research * Includes beginning and ending fund balance per System Office Guidance 10/11/2024 Board of Trustee Business Affairs Committee
General Fund Budget development 2021-2022 Certified Base budget in financial system $149.9M Permanent recurring budget at the beginning of FY21-22 Pass through allocations $ 12.1M Legislative salary increases Retirement and health insurance rate changes Additional allocation $ 17.4 Enrollment growth FY 2022 and FY2023 Tuition increases 10/11/2024 Board of Trustee Business Affairs Committee
All Funds Budget FY2022-2023 10/11/2024 Board of Trustee Business Affairs Committee
Campus Involvement and Resources CFO and University Budget Office annually reviews Auxiliary Units 5 to 10 year budget projection including capital projects Vice Chancellors staff worked with departments/units to develop their All Fund Budget submission Template sent out in November and due January 31st Annual internal budget request process Department and units receive the templates in March Budget & Strategic Initiatives Campus briefings held annual in April Tuition and Fee Advisory Committee review proposed increases in Fall Chancellor and Senior Management annually review and approve divisional budget request based on the available funding sources (enrollment growth, tuition and fee increases) Dean s Council meets annually with facilities to discuss priorities for repair and rehabilitation funds. Budget Central website Budget resource for information and presentations 10/11/2024 Board of Trustee Business Affairs Committee
