Processes & Procedures

Annual Budget Load (Operating and Non-Operating Funds)


Operating Budget (1xxxxx)

The College’s operating budget is developed during the annual budget planning process. After the budget is approved by the Board of Trustees, the revenue and OTPS accounts are loaded into Banner. This generally occurs in early-mid Summer.

Salary accounts are loaded in the beginning of September during the annual budget roll process. Personnel transactions for the following fiscal year are continuously reviewed and approved by the Office of Budget and Planning prior to the budget load. Departments do not need to wait for the salaries to be loaded into Banner to move forward with their personnel transactions. Salary budgets are based on the approved budget for the fiscal year and any budget transfers that were submitted.

Designated Funds (2xxxxx), Gift Funds (65xxxx)

The fund balance as of August 31st of each fiscal year is loaded into account PL7000 for each of these fund types. These budgets are loaded in September, after the Office of the Controller has completed the close of the previous fiscal year and the ending fund balances are available. Budget transfers should be submitted to allocate funds from PL7000 to the appropriate account based on anticipated expenses. These budget transfers should be submitted at the same time the personnel actions are submitted, even if it is prior to the budgets being reflected in Banner.

A schedule for opening the next fiscal year to process transactions (including such transactions as rolling funds from one fiscal year to the next or transferring funds from one account to another) is shared with all Directors of Academic Administration (DAAs), Development, and the Office of Financial Aid. It is the responsibility of the DAAs to ensure that the schedule is shared with those in their department who are impacted by the process. These transaction requests should be submitted directly to Christine Flores at cf2556@tc.columbia.edu.

Endowments (62xxxx, 64xxxx)

In an effort to aid student recruitment, all efforts are made to load the endowment budgets for those designated as Scholarship and Financial Aid as early as possible. The budgets for Scholarship and Financial Aid endowments are comprised of the anticipated distribution plus any known carry-over balance.

All other endowment types have their anticipated distribution loaded early in the calendar year. The final available carry-over balance is also appropriated in September, after the Office of the Controller has completed the close of the previous fiscal year and the ending fund balances are available.

A schedule for opening the next fiscal year to process transactions (including such transactions as rolling funds from one fiscal year to the next or transferring funds from one account to another) is shared with all Directors of Academic Administration (DAAs), Development, and the Office of Financial Aid. It is the responsibility of the DAAs to ensure that the schedule is shared with those in their department who are impacted by the process. These transaction requests should be submitted directly to Christine Flores at cf2556@tc.columbia.edu.

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