Budget and Planning Process
FY 2024-25
Updated: May 24, 2024
Notes:
-For questions on dates preceded with an asterisk, please contact compensation@cornell.edu
-For all other questions, please contact ubo-help@cornell.edu
-* SIP/Merit related
FY25 Budget Cycle Calendar (pdf)
| Longview System Availability 7:30am – 9pm | |
| DATE | DESCRIPTION |
| December – January | Commitments shared with Colleges & Units via Box folders. |
| January 16 | Base Budget Adjustment edocs completed and approved in KFS |
| January 24 | Initial load into Longview Budget Planning System |
| January 25 – 27 | Board of Trustees meeting |
| February 5 | Cutoff to finalize commitment information with UBO |
| February 5 | Planning assumption PDF posted |
| February 5 | Longview Budget Planning System open to College & Unit Level Users |
| February 7 – 22 | Campus training and review sessions of Longview Budget Planning System |
| February 12 | Longview Budget Planning System open to Department Level Users |
| February 13 – 15 | Long term pool estimated income loaded |
| February 16 | In-year forecast, through period 6, due to UBO (template will be shared by January 12th) |
| February 29 | Budget model data information posted (excluding Allocated Cost Model) |
| *March 1 | SIP eligibility set in Longview Budget Planning System. Eligibility based on hire date by Feb 28 |
| *March – April | Workday Merit reports available for planning College & Unit awards |
| March 4 | D-Level closing at 9pm, or date communicated by C-Level UBOG member of each College/Unit to their departments |
| March 8 | Allocated Cost Model shared (summary level) |
| March 13 | Cutoff to finalize outstanding questions/concerns related to the budget model with UBO |
| March 20 | Budget Letters distributed |
| March 20 | Distribution of Operating-Capital reports for review with planned capital activity in FY2025 |
| March 29 | Longview Budget Planning System module closed to College & Unit Level Users at 9pm |
| April 5 – 11 | Trustee Budget FY25 roll up completed |
| April 11 | College & Unit narrative due to Budget Office (narrative template will be shared by March 1st) |
| May 3 | May Book completed for BOT mailing |
| May 23 – 24 | Board of Trustees meet to approve operating budget and capital plan |
| *June 6 – 12 | Workday Merit Grid open for College & Unit merit planners and HR partners to enter, submit, and approve awards. No SIP award must include a comment (i.e., terminated, performance related, included in offer, etc.) |
| June 6 | Trustee Budget snapshot set in Longview |
| June 14, 17 | Longview Budget Planning System module open to College & Unit Level Users upon request |
| June 17 | Close Longview Budget Planning System to all level users at 9pm |
| *June 18 – 21 | Workday to generate Merit notification letters to employees |
| June 18 – 21 | Longview Budget Planning System updated to include SIP Awards |
| June 24 – 28 | Longview Budget Planning System planning modules reopened, at Noon, to College & Unit level users for Final Balancing of accounts |
| June 28 | UBO begins final budget review |
| *July 1 | New compensation rates effective |
| July 24 | FY25 Budget loaded to general ledger |