Position budgeting refers to allocating funding for personnel costs. Unfilled positions may accumulate salary savings.
Funding a Position
Before seeking applicants for a position, financial managers should calculate funds required for the position. For designated funds and revenue funds, benefit costs should be considered. Upon selecting a candidate, account managers should ensure the funds are in the correct account.
Use these account codes when funding salaries and wages.
|700802||Graduate Assistant Teaching|
|701401||College Work Study Student Employee|
|701402||Graduate Assistant Non-Teaching (Research)|
|702000||Hazardous Duty Pay|
|702300||Lump Sum Termination Pay|
|702400||Termination Pay Death Benefits|
|703100||Emoluments and Allowances|
To move funds into one of these accounts, submit a change of budget request.How to Submit a Change of Budget
Benefits include fringe benefits and premium pay which are expenses directly related to an employee’s salaries and wages. Funds other than 110100, 140100, 120500, and 150101 are required to include benefits in their budget for each eligible employee. Contact your budget director for assistance.
Use these account codes when funding benefits.
|703300||Employee Retirement Other|
|704200||Payroll Health Insurance Contribute|
|704300||FICA State Match|
|708600||ORP State Match|
|790900||Teacher Retirement Reimbursement|
|790901||Teacher Retirement 90 Days|
|790902||Teacher Retirement Contract|
|799008||Vacation Sick Accruals Grant|
“Salary savings” are those budgeted salary funds for a specific month which are not used when the month’s payroll is drawn. Salary savings may be realized in an individual account by (1) holding open an unfilled position, or (2) transfer, termination, death, retirement, or suspension of an employee. Salary savings may be utilized by the account manager with approval of the appropriate Vice President excluding fund the E & G (110100), Designated Tuition (140100) and Institutional Fund (150101).Read Budget Procedures