Page tree
Skip to end of metadata
Go to start of metadata

The Budget Office at MassArt facilitates:

  • Developing annual operating and capital budgets

  • Maintaining long-range financial planning models

  • Monitoring changes to these budgets with emphasis on maintaining good fiscal management with reasonable controls

  • Enforcing policy decisions regarding use of funds

  • Providing reports and data to assist management in making sound fiscal decisions


FY20 Budget vs. Actual Recap (12-4-19 Update)

CST Budget Review - FY20 - 12-4-19 Update.xlsx

Fund 28 Budget Review - FY20 - 12-4-19 Update.xlsx

PCE & PCG Programs Budget Review - FY20 - 12-4-19 Update.xlsx

Trust Fund Budget Review - FY20 - 12-4-19 Update.xlsx

Budget Transfer Form.xlsx

FY19 Budget vs. Actual Recap

CST Budget Review - FY19 All.xlsx

Fund 28 Budget Review - FY19 All.xlsx

PCE & PCG Programs Budget Review - FY19 All.xlsx

Trust Fund Budget Review - FY19 All.xlsx

FY20 Budget

Approved by the Board of Trustees, June 11, 2019     






Budget Process

As we begin our FY'20 Budget process at the College, I will periodically add new information to this page for review and comment.  Please note some documents will be labeled draft.   My goal is to provide as much information as early as possible to the MassArt  community in a timely manner.

Budget Timeline and Project Chart -DRAFT
DETAILS          
DatePPM Start DateMilestone BaselinePositionTypeStatusEventEvent TypeApprovalsApproval Of:
11/711/7BAC010BudgetPlannedBudget Advisory Committee MeetingBudget Process   
12/112/1Dept Plans Due - AchieveIt0-20Strategic PlanPlannedDepartmental Plans Due to AchieveItBudget Process  
12/512/5BAC010BudgetPlannedBudget Advisory Committee MeetingBudget Process   
1/11/1201905CalendarPlannedStart of TermYear  
1/11/1Monthly Status Reports Due0-15Strategic PlanPlannedMonthly Status Reports DueStrategic Plan  
1/91/9Cabinet: CE+GR050BudgetPlannedCabinet Meeting to discuss PCE and Grad tuition & feesBudget Process   
1/231/23Cabinet: UG040BudgetPlannedCabinet Meeting to begin discussion of UG tuition & feesBudget Process   
1/251/25BOT-AFC:  Approval CE+GR0140BudgetPlannedTrustees Administration and Finance Committee Meeting to approve CE and GR tuition & feesBudget Process ApprovalCE and GR tuition and fees
2/82/8Today05CalendarPlanned Budget Process  
1/301/30BAC010BudgetPlannedBudget Advisory Committee MeetingBudget Process   
2/12/1Monthly Status Reports Due0-15Strategic PlanPlannedMonthly Status Reports DueStrategic Plan  
2/12/1BudgetPak + AchieveIt Planned Open0160BudgetProposedBudgetPak + AchieveIt Planned Open   
2/52/5Budget: Chairs030BudgetPlannedDepartment Chairs MeetingBudget Process   
2/52/5BOT:  Approval CE+ GR0140BudgetPlannedBoard of Trustees Meeting to approve PCE tuition & fees and Graduate tuition & feesBudget Process ApprovalCE and GR tuition and fees
2/62/6Admin  Council020BudgetPlannedAdministrative Council Meeting: Budget Development UpdateBudget Process   
2/132/13Cabinet: UG Conclude050BudgetPlannedCabinet Meeting to conclude discussion of UG tuition & feesBudget Process   
2/132/13BAC010BudgetPlannedBudget Advisory Committee MeetingBudget Process   
2/152/15Year 1 Q3 Report Due0-15Strategic PlanPlannedYear 1 Q3 Report DueStrategic Plan  
2/152/15BudgetPak + AchieveIt Planned Deadline (FY20 Due)0160BudgetProposedFY20 Dept Budget Requests DueBudget Process  
2/192/19Budget: Chairs030BudgetPlannedDepartment Chairs MeetingBudget Process   
2/272/27Cabinet: UG Finalize, Begin FY20 Budget050BudgetPlannedCabinet Meeting to Finalize UG tuition & fees, and begin discussion of FY20 budgetBudget Process   
3/13/1Monthly Status Reports Due0-15Strategic PlanPlannedMonthly Status Reports DueStrategic Plan  
3/63/6Admin  Council020BudgetPlannedAdministrative Council Meeting to discuss FY20 budgetBudget Process   
3/293/29BOT-AFC:  Approval UG0140BudgetPlannedTrustees Administration and Finance Committee Meeting to approve UG Tuition & feesBudget Process ApprovalUG tuition and fees
4/14/1Monthly Status Reports Due0-15Strategic PlanPlannedMonthly Status Reports DueStrategic Plan  
4/94/9BOT:  Approval UG0140BudgetPlannedBoard of Trustees Meeting to approve UG tuition & feesBudget Process ApprovalUG tuition and fees
4/104/10Cabinet: FY20(cont)050BudgetPlannedCabinet meeting to continue discussion of FY20 budgetBudget Process   
4/104/10BAC010BudgetPlannedBudget Advisory Committee MeetingBudget Process   
4/164/16Budget: Chairs 030BudgetPlannedDepartment Chairs MeetingBudget Process   
4/244/24Cabinet FY20 (conclude)050BudgetPlannedCabinet meeting to conclude discussion of FY20 budgetBudget Process   
5/15/1Monthly Status Reports Due0-15Strategic PlanPlannedMonthly Status Reports DueStrategic Plan  
5/15/1Admin  Council020BudgetPlannedAdministrative Council to discuss FY20 budgetBudget Process   
5/85/8Cabinet: Finalize FY20050BudgetPlannedCabinet meeting to finalize FY20 budgetBudget Process   
5/155/15Year 1 Q4 Report Due0-15Strategic PlanPlannedYear 1 Q4 Report DueStrategic Plan  
5/315/31BOT-AFC:  Approval FY20 Budget0140BudgetPlannedTrustees Administration and Finance Committee Meeting to approve FY20 budgetBudget Process ApprovalFY20 Budget
5/315/31End of Spring Term05CalendarPlannedEnd of TermCalendar  
6/16/1Y1 BiAnnual Report 2 Due0-25Strategic PlanPlannedYear 1 BiAnnual Report 1 and Strategic Plan Updates DueStrategic Plan  
6/16/1Monthly Status Reports Due0-15Strategic PlanPlannedMonthly Status Reports DueStrategic Plan  
6/116/11BOT: Approval FY20 0140BudgetPlannedBoard of Trustees Meeting to approve FY20 BudgetBudget Process ApprovalFY20 Budget
7/17/1FY20 05Strategic PlanPlannedFY20 Start - Contracts and Engagements may begin, Deliverables Strategic Plan  
9/39/3Opening Day010CalendarPlannedOpening DayCalendar  


FY2020 BudgetPak Instructions

 

FY'2019 Budget:

Memo: Closing the FY2019 Budget Cycle



FY'2019 Budget Memo and Instructions


Approved by the Board of Trustees, June 12, 2018        


 

FY19 Fiscal Operations  Reports (Quarterly)  

           


Operations Summary by Month, by Department

FY'2019 Budget Development Process

 

  • On-Going consultation process with the MassArt Community including;    

    • Budget Committee (Staff, faculty and students)

    • Administrative Council (Staff)

    • Department Chairs (Faculty)

    • Student Groups (Students)

    • Presidents's Cabinet

    • Board of Trustees

  • On-Going Analysis of FY'19 revenue and projected expenses

  • Discussion and decisions by Senior staff and Cabinet

  • Presentation to BOT for approval

 

How to Use Budget Pak

BudgetPak login

1 page instructions


______________________________________

FY'2018 Budget

Fiscal year 2017 has been another challenging budget year due to several factors, including lower enrollment than projected, increased salary expenses, and reduction in state support. We put several measures in place to control spending and managed to a spending plan approved last June. Over the year, we were successful at reducing spending and deferring positions and projects.  Thank you for your support and involvement in these efforts.For fiscal year 2018, we presented to trustees a balanced budget, which was passed on June 13th, at the annual meeting. This budget totals $75.3M in expenditures with $75.8M in revenue across the funds. This balanced budget was formed with several assumptions, including no significant additional funding from the Commonwealth again this year. This budget assumes almost no growth in the personnel budget, which we are committed to keeping below 65% of total budgeted expenditures.The undergraduate budget revenue is projected to be $45,359,701, with an annual student headcount of 1,650: 1,075 in-state; 285 out-of-state (including international students); and 290 from New England. We are anticipating a state maintenance funding level at $18,888,201, which is a slight increase over FY17. We are also anticipating $26,471,500 in tuition, fees and other sources after institutional aid and scholarships are factored in. This model shows a conservative approach and we have a high level of confidence that we will achieve this revenue target.The approved FY'2018 budget plan continues to fund all collective bargaining obligations and invests in priority areas outlined by the college for enrollment management and financial aid. The additional investment in financial aid has been instrumental in our strategy to reverse the downward trend in enrollment as well as to increase it from 470 new students in FY17 to over 530 new students projected for FY'18. We increased available institutional financial aid to undergraduate students next year by approximately $1M with a total of $8M available in FY'2018. This reaffirms our commitment to our students to keep MassArt affordable and accessible for all.The housing budget assumes slight increases in both revenue and expenses of about 3.5%. We submitted a balanced spending plan for this segment, and MassArt has negotiated additional bed spaces at Wentworth and Wheelock to meet the increased demand for on-campus student housing.Non-operating capital expenditures for FY18 include MSCBA bond funds, DCAMM grants, Governor’s bond funding, and the Unbound Campaign. We do not plan to increase our operating budget debt service obligations for FY18. The major projects with substantial work slated for FY18 are the Tower Building Study, Library Renovation, ADA Access to North Hall, Galleries Renovation (phase 1), Skyway Renovation, and the Alternative Energy Project. These projects will continue our almost ten-year campaign to reduce deferred maintenance on campus; increase accessibility for students, staff, faculty, and visitors; improve energy use reduction and stabilization; and begin an organized improvement of the aesthetics of the campus.Despite the fiscal challenges, the college continues to maintain quality for our students both academically and through continued improvements to the physical infrastructure. The college continues to be fiscally sound, and level funding from the state continues to put pressure on our operating account. The challenge before us in FY2018 and coming years is to respond with fiscal restraint to protect what has been achieved while continuously aligning with and envisioning the vibrant future laid out for our students.As always, MassArt’s success continues to rest in the profound ability of our community to come together to face and respond to challenges whether they are financial or social. The importance of contributing to each new incoming class and helping them become vibrant and vital artists, designers, artist educators and professionals able to go out and make a difference in the world, is our privilege and responsibility and I thank you for your continuous dedication to our mission.

   FY2018 MassArt Budget          

   


2020 Budget Calendar (DRAFT)


2019 Budget Calendar (11-15-2018)


State Budget Process

Image result for mass state budget process

Governors FY'20 Budget Recommendations


 

State Government Transparency Website

CTHRU was launched by the Office of the Comptroller in the fall of 2016 and has quickly become a national model for its depth, breadth, timeliness, and its intuitive experience for exploring how and where our tax dollars are utilized. Stewards of the Commonwealth’s financial data, the Office of the Comptroller is a uniquely independent and apolitical overseer of more than $60 billion in governmental and other funding sources annually. In addition, the Comptroller oversees the Commonwealth’s expenditure and payroll management and major audit functions ensuring security, transparency, accountability, and service delivery across all branches of state government. The powers and obligations of the Comptroller are generally dictated by M.G.L. c.7A.

https://www.macomptroller.org/cthru

 

Department of Higher Education Data Website

The DHE Data Center is derived from our Linear Trends books, a compilation of data submitted by the public higher education institutions that reflect the key performance measurement indicators approved by the Massachusetts Board of Higher Education (BHE) in 2003/2004. Where authorized comparisons are made to peer-derived benchmarks and other performance targets established by the BHE.

 

http://www.mass.edu/datacenter/home/home.asp

 


 FY18 Fiscal Operations  Reports (Quarterly)                                                                                     

      

   

 Operations Summary by Month, by Department (Final)

 

FY17 Fiscal Operations Reports (Quarterly) and Audit

 FY16 Fiscal Operations Reports (Quarterly) and Audit

 

 

  • No labels