Principal Executive Staff (PES) and the Advisory Council on Finance, Personnel, and Development review the college budget each fall and then consider potential revenues and expenses for the following fiscal year. These groups recommend a budget to the president (generally in late January) and the budget is presented to the Trustees in April for their review and approval.
For current year details, please visit our Budget Information (login required) page on Inside Davidson.
Budgets may be viewed using Banner INB (real-time activity), Banner Self-Service (real-time activity) or Inside Davidson (one-day lag). Additional information on these options can found on Banner Finance.
Budget packages are generally distributed in mid-April, after Trustee approval of the budget, with a due date of mid-May. You will receive an email from your vice president and/or supervisor when budget spreadsheets are available. The Business Services Office enters department budget information into Banner so it will be available in Banner on July 1.
FY18 Budgets due to Business Services the end of day May 12.
Each budget worksheet feeds into a Divisional Summary spreadsheet. Please complete only the shaded areas of the worksheet and do not make any other changes (i.e. eliminating rows/columns, adding rows/columns, etc.) If you do need to have a change made to your budget worksheet, please contact our Business Services Office so that we can make this change for you.
Update the amounts in the FY18 Annual Budget column to reflect your departmental budget. The spreadsheet is set up so that the budget for FY18 is equal to your budget for FY17, adjusted (when applicable) for any budget reductions, approved increases and/or one-time items from FY17, provided we were given the account number(s) to adjust.
If we did not know the specific account to adjust, you will see a line that includes the change to your budget. This amount must be allocated to individual budget line items prior to submission.
You many reallocate funds between line items, but your total budget must not change, unless you have approval from your vice president.
If you need a new account number, please email us for assistance.
Input the monthly amounts for each line item. This step is crucial for proper cash flow and budget projection, so please analyze each line carefully to properly spread expenses/revenues to the months in which the activity will occur. If you have line items that are incurred evenly during the year, type "even" in the even column for automatic completion.
Monthly expenses for the current and prior years can be accessed via the Inside Davidson report, Expenses By Month, located in the Departmental Budget Reports folder.
The following accounts are considered operating expenses and you must be budget for them, if applicable. This item does not apply to Auxiliary Budgets as those departments are required to budget for both compensation and operating expenses.
*Item is subject to FICA at a rate of 7.65 percent. This amount should be budgeted for in account 623500.
**Students are exempt from FICA during the school year. Therefore, FICA need only be calculated on student assistants who work during the summer months.
When saving your spreadsheet, a dialog box may pop up asking you if you want to "save a copy" or "overwrite changes." You should select "overwrite changes."
You should verify that no line items are out of balance. Out-of-balance indicators are included on both the individual department's worksheets as well as the divisional worksheet.
Once your FY18 budget and monthly spreads are complete, notify your vice president or supervisor who will collect all of your divisional spreadsheets and submit them to us.