Budget Preparation OverviewThe Fiscal year –
The fiscal year at Baylor is from June 1 to May 31. The budget preparation process usually begins in the fall semester and ends in May when the Regents approve the budget for the upcoming fiscal year. Around November 1, department heads will receive an e-mail from the Budget Office with specific instructions, guidelines and deadlines for preparing and submitting the departmental budget for the next fiscal year. Around the middle of May, the department head will receive an e-mail from the Budget Office regarding the new, approved budget and instructions for how to view the new budget.
The Budget Prep Process –
The budget preparation process proceeds in two phases:
Phase I – Usually begins around November 1 with a deadline right before the Thanksgiving Holidays. During Phase I department heads will be responsible for:
- Reviewing and submitting the personnel positions planned for the department.
- Completing and submitting a capital equipment request template, including technology requests. (For more specific information regarding the technology budget, click here: Managing your Technology Budget . )
- Submitting information regarding funds needed for contract services.
Between the phases - In the time between the two phases, the Budget Office uses the information submitted by department heads in Phase I and the budget guidelines established by the administration to create a "pre-calculated budget" for each department.
Phase II – Usually begins in early February with a deadline in mid to late March. During Phase II the department head's job is to carefully review the pre-calculated budget for the department, and to negotiate any changes/additions to the pre-calculated budget with their respective Dean or Vice President. The department head will receive instructions from their Dean or Vice President regarding how this process will work in your particular school.
Budget Prep Training -- During budget prep time, the Budget Office offers several Budget Prep Workshops. These workshops are a good opportunity to learn the details of the budget prep process, to learn any year-to-year changes that have been made to the process, and to ask specific questions of the Budget Office staff. Dates and times for the workshops will be announced in an e-mail from the Budget Office. You can register for the workshops at the POD website or by calling the helpline at (254) 710-4357.
Budget Prep System – Baylor uses the Khalix(KLX) on-line system for budget preparation. The URL to access Khalix is: www.baylor.edu/klx. Anyone in the department who will participate in the budget prep process will need to have access to the KLX system. To get access to KLX, complete and submit a KLX authorization form. All budget preparers will also need to attend KLX training. You can register for training at the POD website or by calling the helpline at (254) 710-4357.