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 FAQs and Quick Tips
QUESTIONS:
QUESTIONS AND ANSWERS:
Where can I find an overview of the college’s budget? The budget office develops an annual budget booklet that provides much detail on the major budget areas of the college based on the Board of Trustee’s original approved budget for a given year. This document can be found on this website at http://www.broward.edu/finance/supportingcontent/Annual%20Budget%20207-08.pdf. This document includes the General Current Fund budget and provides data and graphs of revenue by sources and expenditures by category as well as detail of the budget by GLC and by cost center; the SPD (Staff and Program Development) plan; the student activities annual budget; and the plant fund budget.
Could you please provide a timeline and overview of the budget prep process? More information can be found on the budget prep process on this website at http://www.broward.edu/finance/finance/budget/prep/page19016.html. The budget prep process provides Vice Presidents and Provosts an opportunity to reallocate part-time funds and current and capital expenditure funds. Requests for additional funding for mandatory increases, new full time position requests, and new initiatives in support of the College’s strategic goals should be directed to your area’s Vice President or Provost by the end of the second week in March for consideration by President’s Cabinet for funding in the following fiscal year.
I am a cost center manager and I would like to make a budget transfer. Can you provide guidelines for budget transfers? Generally, full-time position budgets cannot be transferred except to fund a replacement for a temporary position to replace the full-time employee or, if needed, to fund the cost of bringing in a replacement from a temporary staffing agency. Part-time and adjunct budgets cannot be moved to current expenditure budgets or capital expenditure budgets but transfers can be made from current expenditure budgets or capital expenditure budgets to salary budgets. Any transfer to fund a temporary full-time or part-time position must include the funding of benefits. (Please contact Kim Brodsky for associated benefit rates).
I am a cost center manager and would like to know more about SASFM? SASFM is tool provided by the College to enhance financial reporting from the college’s general ledger system. At this point the staff in the Finance areas have the most familiarity with SASFM but intentions are to expand this to users throughout the college. We have identified a position that will focus on Finance data analysis but the position has not yet been hired. We hope to have this position assist with SASFM training for users outside of the Finance area. In the meantime specific questions or requests for assistance can be directed to Suzanne Whitney at extension 7564.
What are the current fringe benefit rates for a full-time position? There is a fixed cost component and a variable cost component to fringe benefits. The fixed cost component is $9,258.72 and the variable cost component is 18.35% of the yearly salary.
Benefit Cost Analysis Breakdown:
For example, a $30,000 salaried position has fringe benefits totaling $15,247.92 ($9787.92+ ($30,000 x 18.20%)).
What are the current fringe benefit rates for part-time and adjunct positions? The college costs for fringe benefits for part-time and adjunct positions vary based on the type of position.
For additional part time position types, please see the Position Prefix & General Ledger Codes listing.
How can I open a new cost center? A form called “Application for a new Cost Center” . With proper authorization, agency accounts (such as student organizations) will be handled by Carl Anderson at extension 7349, restricted and grant accounts by Nadine Branch at extension 7424 and all others will be handled by Barbara Pearson at extension 7494.
The Florida Department of Education’s website, http://www.fldoe.org/cc/, provides very useful information including a link to laws, rules and policies.
How can I obtain a copy of Broward Community College’s latest audited Financial Statements? The Florida Auditor Generals office conducts a financial audit of Broward Community College every year and an operational audit of Broward Community College every two years. The latest reports available can be found on the Florida Auditor General website at http://www.myflorida.com/audgen/pages/subjects/ccollege.htm.
Could you provide me with descriptions of the various Funds the College utilizes? The ACCOUNTING FUND STRUCTURE lists the Funds, description, revenue sources and if there is a budget requirement.
I am having problems accessing CID screens. Who can I contact? Please contact Dania Rodriguez, Financial Systems Coordinator regarding CID screen access and security questions at (954)201-7189 or e-mail drodrigu@broward.edu | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Budget Tutorial
General Ledger Code (GLC) Listing
