Online Budget Tool

Click here to access the Law School’s online budget tool. Please note: this tool works best in Chrome, Firefox, and Internet Explorer v 10 and 11. Questions? Contact Jennifer Lia.

Budget Overview & Timing

Need to create or change a budget? Click the heading to jump to the budget overview decision tree. Find out what is needed and when regarding budgets. 

Budget Types

There are a few different types of budgets the Law School and University use for various purposes. Click the heading to jump to descriptions of each as well as how they can/should be used. 

Budget Overview & Timing


Budget Types


There are a few different types of budgets the Law School and University use for various purposes. Below are descriptions of each as well as how they can/should be used. Contact Jennifer Lia with any questions.

 

Corporation Budget

Also known as: Management Plan (MP)
What it is: University’s annual budget
Timing: due to the University in February
Lasts: July 1 – June 30
Set in Stone? Yes. Once submitted to the University, this budget cannot be changed.
Who should use? University, Finance Department, Dean
Use for: compare budget to actuals at high level

 

Department Plan (DP)

Also known as: Annual Budget
What it is: Law School’s annual budget
Timing: due to Finance Department initially by August 1st
Lasts: July 1 – June 30
Set in Stone? No. This budget can be updated/added to throughout the year.
Who should use? everyone
Use for: running reports in WD, compare budget to actuals at planned level

 

Sponsored Award Budget

Also known as: Grant Budget
What it is: non-annual grant budget
Timing: when the sponsored award is set up
Lasts: for the life of the grant
Set in Stone? Yes, with some flexibility
Who should use? Grant PIs
Use for: review grant budget to actuals

CY Forecast

Also known as: Current Year Forecast
What it is: forecast based on DP budget; YTD actuals overwrite forecasted amounts as the year progresses
Timing: updates monthly
Lasts: July 1 – June 30
Set in Stone? No. This budget can be updated/added to throughout the year
Who should use? everyone
Use for: compare current year actuals and projections at planned level throughout the year

 

Q2 Forecast

Also known as: 2nd Quarter Forecast
What it is: annual forecast based on 2nd Quarter results & past years’ trends
Timing: January
Lasts: January – June 30
Set in Stone? Yes. Once submitted to the University, this budget cannot be changed.
Who should use? University, Finance Department, Dean
Use for: compare current year actuals and projections at a high level mid-year