2021 - 2022 Budget Year Guidance

Budgeting SBF: Guidance from the SBF Business Office

1. What SBF accounts are included?
   1. - Current use accounts: Restricted, Unrestricted and Agency
   2. - FY 20/21 endowment payout was moved to current use accounts [23xxx] in September 2020.
2. For your endowment payout accounts, how do you estimate the FY 21/21 payout amount?
   1. - Use the prior year payout amounts as an approximation, however, please note...
   2. - The actual payout is subject to investment market fluctuation.
3. Why did we stop loading pledges? 
   1. - It overstates resources; there is no contractual obligation associated with pledges.
4. Please budget expenses in keeping with the program code each SBF account.
5. What SBF report is recommended to help areas with their budgeting?
   1. - SBF Management Income Statement Summary
   2. - Go to: SBU Reporting > Finance > SBF > SBF Management Reports > SBF Management Income Statement Summary

21/22 Budget Development Process Reminders:

1. Reported changes in fund balances should be consistent with the CBM 21/22 budget
2. Consistent methodology for budgeting to draw on reserves to cover in-year budget gaps or to budget adding to reserves
3. If budgeting a deficit, please identify the reserves that will be used to fund the deficit