Managerial Budget Process

Ed Poppell, Vice President for Business Affairs
Jimmy Cheek, Sr. Vice President for Agriculture & Natural Resources

While we are making preparations to close the current fiscal year, it is also a time for us to plan and establish our budgets for the next fiscal year. To help you manage your financial activity many of you have asked for a managerial budget process that will allow you to track your revenue and expenditures at different levels than you control that activity with your commitment control budgets. The process to enter your managerial budget journal entries is now available. The corresponding analysis tool that will allow you to compare these managerial budgets against your actual revenues, expenses, and commitments will be available at the beginning of July as we begin the next fiscal year.

Anyone interested in entering and using managerial budgets can register for a new course, PST051 – Managerial Budgets Overview, in myUFL at My Self-Service > Training and Development > Request Training Enrollment. Users who attend this course will be able to request a new security role, UF_GL_JOURNAL_BUDGET, from their DSA. You can enter your budgets for next fiscal year as soon as you have access so we encourage you to take one of the first classes available to give you enough time to enter your managerial budget journals before the actual activity begins in July.

You will be able to view your actual activity against your managerial budgets with a new Financial Information Tool that is going through a user acceptance test next week for General Ledger activity only and in June to include managerial budget activity. This analysis tool will provide you with the ability to track your actual transactions against your managerial budgets so we encourage you to participate in these tests and ensure it meets your needs. If you are interested, please contact University Accounting Services (UAS) at managerial-budgets@admin.ufl.edu for more information.

We appreciate your help to improve the way UF manages our business affairs. Your input initiated these efforts and is crucial to the success of these projects.