Frequently Asked Questions

Frequently Asked Questions

  1. How do I adjust my budget(s)? 
  2. Where do I find a Budget Transfer Form? 
  3. How do I submit the Budget Transfer Form?
  4. When can I adjust my budget(s)?
  5. What is the difference between ‘Base’ Budget and ‘Adjusted’ Budget?
  6. What is ‘budget development’?   What am I responsible for? 
  7. What are ‘budget reviews’?    What am I responsible for? 
  8. How do I get a new cost center set up?
  9. How do I update the cost center manager or cost center name?
  10. How do I access my budget reports?  Whom do I contact?

How do I adjust my budget(s)? 
The Budget Transfer Form is used to make changes to a cost center’s budget.  The form, which is an Excel spreadsheet, should be downloaded from this web site and completed in Excel.  An individual who is authorized to make budget transfers should email the completed Excel form to us.  Transfers are processed several times each week. 

Where do I find a Budget Transfer Form? 
A blank Budget Transfer Form and its instructions are available from the accounting forms section of the Accounting Office web site.

How do I submit the Budget Transfer Form?
An individual who is authorized to make transfers should email the completed form to us. Transfers are processed several times each week.

When can I adjust my budget(s)?
You can adjust your budgets throughout the fiscal year, after the initial budgets are loaded.   Transfers between line items may require approval from the Budget Office and/or Bond Revenue Operations.   Each college/area/division may have its own set of rules/approvals that have to be adhered to.  Consult with your area’s business manager.  During the Budget Review process, please do not submit Budget Transfer Forms; during Reviews, transfers should be submitted via entries on the Budget Review Reports.

What is the difference between ‘Base’ Budget and ‘Adjusted’ Budget?
‘Base’ budget refers to the permanent budget amounts that appear on the Budget Development Reports.  Adjustments to the ‘Base’ Budget are typically submitted as part of the Budget Development process.  The ‘Adjusted’ Budget is the Base Budget combined with any temporary adjustments.  These adjustments are temporary in that they are only in effect for the current fiscal year. Departments often submit budget transfers to adjust their base budget for the current year.  Transfers submitted via the Budget Review Report affect the ‘Adjusted’ Budget.  The ‘Adjusted’ Budget appears on the Financial Summary Reports. 

The Current Budget Detail Report – Year to Date ( _nbudgl.xls) is available in the directory where your Financial Summary Reports are located.  This report lists all transactions applied to both your Base Budget and the current year budget transfers which sum to your ‘Adjusted’ budget amount.

What is ‘budget development’?   What am I responsible for?  
‘Budget Development’ is the annual process of adjusting your department budget for the coming fiscal year.  The Budget Development forms are typically available in your directory by the end of May or in June.  The Budget Office emails notifications to departments letting them know the budgets are available and the due date. 

An annual budget meeting takes place in late May or early June.  Instructions are given at this meeting.  Each area/division may have its own set of rules/approvals that have to be adhered to.  Consult with your area’s business manager. 

What are ‘budget reviews’?    What am I responsible for? 
Budget Reviews are a formalized process that assures departments are paying attention to their operating budgets.  They are scheduled throughout the fiscal year.  Each fiscal year, there are typically four reviews for both appropriated and four review for non-appropriated funds.  The reviews for these different funds are staggered.  The Budget Office will notify you when budget reviews will occur, when reports are available and the due dates.  Each area/division may have its own set of rules/approvals that have to be adhered to.  Consult with your area’s business manager.

Will my budget be adjusted to cover salary increments given to employees? 
The Budget Office will increase General revenue budgets (Fund 02) for the amount of the salary increments.   Revenue Bond budgets (Fund 29) will be increased by the Finance and Facilities Operations Office.   Departments will have to fund salary increases charged to Funds 04, 41 and 55.  Departments may need to adjust their personal service budgets via the Budget Review process or a Budget Transfer. 

How do I get a new cost center set up?
Download the Cost Center Information form (by selecting 'Save' after clicking this link). The form and instructions are in the Excel workbook file on different worksheets. The approved completed form should beemailed to the Office of Budget and Planning.

How do I update the cost center manager or cost center name?
Download the Cost Center Information form (by selecting 'Save' after clicking this link). The form and instructions are in the Excel workbook file on different worksheets. The approved completed form should beemailed to the Office of Budget and Planning.

How do I access my budget reports?  Whom do I contact?
If your access is not working, please email us or call Dena Funkhouser at 753-6019.  If you have never had access before, your supervisor should send an email to NIU PeopleSoft Support indicating the access that you should be granted.