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
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.
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 you have an unbudgeted expense which can be funded by a gift, that should be the first option exercised
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.
Yes. Any cost incurred to bring a purchase to the point at which it can be used in operations is considered a
capital expense.
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’.
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.