The HLS Budgeting process runs annually, beginning in early November. During the budgeting process, each department will submit an updated forecast for the current fiscal year (July 1 – June 30), along with a new budget for the following fiscal year. All administrative departments and clinics also will submit an executive summary with highlights of their submission, including details of any requests for additional funding.
The following represents a typical timeline of the budget cycle:
- Early November: Budget process kicks off, with guidance provided on key University and HLS factors (fringe rates, assessments, endowment, budget target increases)
- Early November: All departments provided with a customized Excel template to assist in the budgeting process
- November – December: Departments budget for all non-roster expenses (including staff-related expenses, except for exempt and union salary amounts). Administrative departments and Clinics will be provided their annual expense ‘target’ of HLS funding, which they can budget up to this amount for all non-roster expenses
- Late December: Populated Excel templates submitted to HLS Finance Office by all departments
- January: Executive Summaries and any Budget Requests submitted to HLS Finance Office by administrative departments and Clinics
- February: Estimated Exempt and Union salary information added to the budget for the following year by HLS Finance Office
- February: Budget Meetings for individual departments held with Administrative Dean and/or CFO, if appropriate
- Late March / April: Final decisions made on any Budget Requests for additional funding
- Late June: Budgets for the following year finalized, once salary amounts are finalized. Departments will be notified of their final budget figure for the following year.
As Research Centers typically do not receive funding from HLS, they will not have budget meetings during this cycle; rather, Research Centers may have year-end review meetings with the Administrative Dean at the start of each fiscal year (typically August / September).
HUBS is the University budgeting system. Although HUBS may be utilized to input budget figures, the HLS Finance Office recommends utilizing the customized Excel template for initial budget inputs. HUBS may be best served for some of its reporting capabilities throughout the year. HUBS may be accessed here https://hyp-workspace.cadm.harvard.edu:8080/workspace/index.jsp and a link to the HUBS Quick Reference Guide may be found here https://wiki.harvard.edu/confluence/pages/viewpage.action?spaceKey=FSSHUBS&title=HUBS+Home.
For questions on any budgeting matters, you may contact Scott Sarian (Budget Director) and Mike Sedelmeyer (Sr. Financial Analyst). Scott’s email address is firstname.lastname@example.org and Mike’s is email@example.com.