Vacant Staff Position Clean-up |
As a final reminder, the Office of Budget and Financial Planning will eliminate all zero-dollar vacant staff positions this coming Monday, February 3rd, unless you have submitted a business case to retain them. Please revisit the 06.01.01 - Vacancy Report with LD to ensure all zero-dollar vacant staff positions have been addressed.
The next level of review entails vacant positions with small dollars available (yet not enough to fund a position) and evaluating positions that have been vacant for a long time. Funding will remain with the units, but if there is no intention to fill these positions, units should make a best effort to allocate the funding accordingly. Please take the time during the Adopted Budget cycle to review these types of vacant positions and update your planning, as needed.
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For clarification, there is no “copy” made of FY26 plans prior to the FY26 Adopted Budget cycle. As part of the continuous planning process, the data currently entered in the FY26 multi-year plan will become the FY26 Adopted Budget baseline data during an upcoming maintenance period from February 17-21 (see below for details).
We encourage users to continue entering plans while FY26 is in the multi-year status to reduce the amount of work required when the FY26 Adopted Budget cycle is open from March 3rd to June 11th. For more details on this continuous planning concept, the following training materials are available for your reference: 12/5/24 Lunch-N-Learn- Forecast Reminders & Multi-Year or the Multi-Year User Guide.
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The “maintenance period” is a new process that will take place the week of February 17th. The maintenance period will streamline required administrative updates in Financial Compass prior to opening the FY26 Adopted Budget. During the maintenance period of February 17-21, please refrain from utilizing Financial Compass. The key updates will include:
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- Pushing out the FY26 Unrestricted Allocation and applicable BWG Add-Ons
- Overriding Endowment Income with more current data
- Updating Reports
- Clearing out old data in the Faculty / Staff Merit pages
- NEW: Based on campus feedback, the Staff Merit page will be updated to include the same columns of data as the Roster page (MRR data, etc.).
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FY26 Adopted Budget Training |
On Thursday, March 6th, a zoom training session will be offered for all Financial Compass users. The training will include an overview of the Adopted Budget process and updates from HR on merit and performance evaluation guidelines. If you are unable to attend this session, it will be recorded and made available on our website.
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Upcoming Key Dates
February
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- 17 thru 21 - Financial Compass Maintenance
- Late February - Distribution of Allocation Letters
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- 3 - Adopted Budget Opens
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6 - Adopted Budget Overview & HR Merit Updates (via Zoom)
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- 4 - Faculty Merit Closes
- 17 - Q3 Due
- 24 - Last Day for Faculty LD Changes in Compass (to be included in upload to Banner)
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- 30 - Staff Performance Evaluations Due
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- 4 - Staff Merit Closes
- 4 - Inter-Unit Transfers Due
- 4 - Last Day for Staff LD Changes in Compass (to be included in upload to Banner)
- 11 - Adopted Budget Closes
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Please note a few corrections from the previous newsletter sent on January 21, 2025.
The addition of the FY29 Multi-Year (copied from the FY28 Multi-Year plan) takes place during the setup of the Forecast, usually in September, and not during the Adopted Maintenance Period, as previously stated.
The Adopted Budget will open on Monday, March 3rd (not Tuesday).
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