Here you will find the tools that will assist in preparation for financial review. This will consist of a list of financial review reports along with an explanation of their uses. Also, exhibits and examples will be provided on how to complete the forms.
- Each division is required to complete a current year forecast, a budget for the next year, and preliminary budgets for the following two years.
- Each division must complete Exhibits A - D (if applicable).
- Each division's allocation revenue must match the provided allocation
- Each division must budget or forecast revenue and expenses at least quarterly
- Each division's allocation revenue and expense must balance by month or quarter.
- Each division's budget or forecast revenue and expense lines must match the exhibits they provide to the Budget and Financial Planning Office.
New reports are available in Oracle for the Fall Planning meeting and have been added to the list of Oracle reports:
We are providing a list of Oracle reports that you may find useful when working on the Budget and Financial Review. Please do not limit yourself to these reports, but you may find these a useful starting point for analysis.
Financial Review Overview
Financial Review is an event within the budget process that occurs three times a year. The fall and winter financial reviews include formal meetings with senior management, deans, and business managers to review each units financial performance. While the primary focus of the two meetings varies, the feedback and discussions assist management in planning the budget for the upcoming year and the forecasts for the next two years. The spring financial review is an informal review with the Budget and Financial Planning Office and division business managers that requires updates of each unit's financial data in Oracle.
Financial Review Deadlines
Due dates and times are communicated to each division's business manager through a letter sent out by the Budget and Financial Planning Office. The dates and times are also posted on the budget and financial planning web site.
Financial Review Requirements
Each Division is required to complete the following:
- A current year forecast, a budget for the next year, and preliminary budgets for the following two years.
- Exhibits A – D (if applicable)
- Allocation revenue must match the provided allocation.
- Must budget or forecast revenue and expenses at least quarterly.
- Allocation revenue and expenses must balance by month or quarter.
- Budget or forecast revenue and expense lines must match the exhibits that are provided to the Budget and Financial Planning Office.