About Budget Construction

About Budget Construction (BC)

Budget Construction is the annual process that requires all units to enter their anticipated budget for the upcoming fiscal year into KFS. In addition to providing a time for all unit to strategically plan for financial activity for the following fiscal year, it provides University leadership with a picture of anticipated activity for each Unit, which ultimately formulates the overall University Operating Budget. BC also ensures that Units are in agreement with anticipated transfers and aligns the budgets properly, and provides continuity in the way in which all Units load budgets.

Budget Construction will open on Monday, March 8, 2021. Completed submissions will be due back to the Office of Budget & Planning by Friday, April 16, 2021.

Positions Current employee data was pulled from CORE as of February 12th, 2021.

**Reminder: Similar to last year, no vacancies will be loaded into BC due to the elimination of position numbers. Once BC is open users may add new vacancies if needed, using the same “TBA position” process as last year. For refills, users can budget the refilled salary on the incumbent employee’s line.

Permanent Budget Transfers The last day to transfer permanent funding for this fiscal year (FY20) was December 31, 2020. This allows the permanent funding in BC to remain static. One-time transfers may continue through the end of the fiscal year.

BC Data Load The budget and actual data reflects data from KFS as of February 28, 2021 (through fiscal period 08).

BC Processors   Each unit provided a list of the individuals in each organization that currently should have access to Budget Construction. If you believe you should have access and do not, please reach out to your unit’s main fiscal contact, or your assigned Budget Analyst.

Training A virtual training will be available for users after BC opens. Please note that while the KFS interface has changed, no functionality of Budget Construction has been altered. Please refer to https://budget.uconn.edu/operating-budget/about-budget-construction/budget-construction-training/ for more information.

 

If you have questions on this process, please contact your assigned budget analyst or the Office of Budget & Planning budget@uconn.edu.