Finance & Administration

Faculty Fiscal Year Budget Sheets

Overview

The Faculty Budget Sheets provide a glimpse of the current appointment(s) and an overview of the approved faculty budget as well as what we expect will actually occur as of the time of distribution.  It provides an overview of the most recent faculty salary, current appointment(s) and the cost distribution that will be effective July 1st. This report should be reviewed very carefully since changes may have occurred since your budget meeting. The changes are reflected in the ‘Projected Actuals’.

NOTE: These sheets are updated throughout the year. Budget sheets need to be updated when any change occurs, whether it is a change in the appointment, cost distribution, a leave, a payment schedule due to a leave, a supplemental payment, a change in address or a change in the organizational assignment. The process is ongoing throughout the year in order to track a faculty member’s appointment and salary history.

Policies

The Projected Actuals may differ from the budget for a number of reasons. These changes would have occurred after the budget period. The reasons for the changes and the difference(s) between ‘Budget’ and ‘Projected Actuals’ may include:
 

  • Resignation
  • Promotion
  • Denied tenure
  • Retention
  • Leave of Absence
  • New Hire - usually associated with a Provision
  • Change in funding sources (e.g.grant funding)
  • An offer has been declined
  • Additional data has been obtained regarding NRR appointments
  • Reappointment (doesn't impact salary)

The salaries in ‘Projected Actual’ will be uploaded into Salary Setting, unless something else has changed since the distribution of the Budget Sheets to the Departments. The process of entering faculty salaries (regular rank and non-regular rank) is completed by the Office of Finance and Administration (OFA). Departments do not enter any faculty salaries in Salary Setting.

Procedures

Take the time to review all the information on the Faculty Fiscal Year Budget Sheets. If you see any information that does not appear to be accurate, contact the Office of Finance and Administration (OFA) immediately.

The sheets are in order by PSA.

  • PSA 0009 – Regular Rank Tenure/Tenure Track (RR-T/TT) faculty 
  • PSA 0010 – Regular Rank Non-tenure Track (RR-NTT) faculty
  • PSA 0011 – Non-regular Rank (NRR) faculty

Example Budget Sheet

Trinity College of A&S Department1 (pdf) provides an example of what you can expect to see on your Budget Sheets. Take a look at the Trinity College of A&S Department1’s Faculty Budget Sheets to see examples of what you can expect to see. While viewing these sheets as well as your own Departmental Budget Sheets, note the changes between ‘Budget’ vs. ‘Projected Actuals.' Take a look at the sample Budget Sheets and then read a brief summary about each faculty member in the explanations after each page. Questions to ask yourself:

  • Are there any actions I need to take?
  • Do I need to provide the OFA with any information during the month of June for July processing?
  • Are there any changes to NRR faculty that I need to communicate to the OFA.
  • Are there any NRR salaries that have not been recorded but are effective July 1st?
  • Does everything look accurate?
  • Does dFac need to be updated with any appointment history?

Contractual Supplemental Pay

Occasionally, appointment letters include what the OFA refers to as an outright supplemental payment. This is a contractual agreement to pay 1/9th of a faculty member's nine-month salary in a specified month. The wording is often like this: "In 2012 we will provide you with a salary supplement equal to l/9th of your nine-month salary, payable on July 25." These supplements will be recorded on your budget sheets and the OFA will initiate them via a Supplemental Payment iForm.