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Financial Operations

Financial Planning and Budgeting

Contact and Location Information:

The Office of Financial Planning & Budgeting reports directly to the Vice President of Finance & Administration/Treasurer and is responsible for all the processes, policies, and issues related to the University Operating and Capital Budgets and related long-range financial plans.

Located on the ground level of the Rauch Administration building, our team is available to all members of the Bentley community and are in contact regularly regarding budgets, forecasts, systems issues, financial modeling, and actuals spending.

Hours of operation are 8:30 to 4:30 Monday through Friday.

Paul Meyers 
Associate Vice President, Financial Strategy and Capital Planning
pmeyers@bentley.edu
Rauch 036
(781) 891-2618

Lindsay Haddad
Director, Financial Planning and Budgeting, CPA
lhaddad@bentley.edu
Rauch 034
(781) 891-2853

Diana DeSimone
Senior Financial Analyst and Business Advisor 
ddesimone@bentley.edu
Rauch 020
(781) 891-2890

Alex D’Amico 
Financial Analyst
alexanderdamico@bentley.edu
Rauch 016B
(781) 216-7024

Budget

The OFP&B begins the new fiscal year budget process in mid-October of the previous fiscal year.  Throughout January, February and March the communications are shared with the divisional Vice Presidents regarding budget expectations and the process for submitting requests for consideration in the new fiscal year.  Final requests are presented to the President, Vice President of Administration and Finance, Assistant Vice President of Financial Planning and Capital Strategy, Provost, and Chief of Staff. Final approval of the budget is made by the Board of Trustees in May and budgets are then posted to Workday.​

Forecast

The OFP&B makes several assessments and adjustments to the fiscal year budget to ensure the final fiscal year forecast will be as accurate and up to date as possible. These forecast adjustments occur every quarter, in October, in January, and in April. The OFP&B requests input from Cost Center Planners during January via Adaptive. 

Annual Budget and Forecasting Calendar

July

Fiscal
Year
Begins

October

Budget office
does First Quarter
Forecast

January

Second Quarter
Forecast and
Annual Budget
Development

April

Third 
Quarter
Forecast

May

Board 
Approval of 
the Annual
Budget

June

Fiscal
Year
Ends

Capital Information

Capital submission requests are sent out with the operating budget requests in January.  Capital

Managers receive instructions from the budget office on how to participate in the process via Adaptive and are asked to budget for the following 5 years. If necessary, the OFPB, the CFO and the Associate Vice President, Financial Strategy and Capital Planning meet with divisions requesting capital funds to discuss needs and come to a compromise on planned capital spending to align with the University’s Strategic Plan and available funding.  The President next approves the plan, and it is voted upon by the Board of Trustees in May.

 For further information, please review the Capital Purchasing Policy.

 

FAQs

What salary lines are cost center managers responsible for?

Cost Center Managers are responsible for monitoring actuals and appropriately forecasting for

student wages and temporary help.  All other salary accounts are managed centrally by the OFPB in

conjunction with the VPs.

Can I create a budget amendment and what is the purpose of budget amendment?

A Cost Center Manager can submit a budget amendment. The budget amendment is used to transfer the

budget from one ledger account or capital project to another. This allows for more accurate tracking of

expenditures.

For any questions regarding Workday, please see the following link which will guide you to any training

material you need.

If I have an expense I am trying to fund, should I first use Bentley funding or gift funding?

If you have an unbudgeted expense which can be funded by a gift, that should be the first option exercised

Should I include requests for current year capital projects that may run into future years?

Yes. Capital funds do not “roll-forward” from year to year; they are approved for the year for which they are

submitted. If it is expected that work on a current project will not be completed or a purchase not received by

June 30th, the portion of the project expected to hit the next fiscal year must be included in the request for that

year. 

Are installment costs considered capital?

Yes. Any cost incurred to bring a purchase to the point at which it can be used in operations is considered a

capital expense. 

Are maintenance contracts considered capital?

No. Regardless of the timing of the purchase or dollar value of the maintenance contract, it is budgeted as an

operating expense under ‘Repair & Maintenance’. 

Why do I need to send renovation and other related requests to facilities?

Simple office moves and renovations often have unforeseen repercussions on the overall infrastructure of an

area. Therefore, any project involving a renovation, relocation, or reconfiguration of office space must be

reviewed by facilities prior to submission. It is the responsibility of the department manager to contact, and if

necessary, meet with the Associate Vice President of Facilities Management to review plans and obtain a quote.