Budget Process

 

Lamont-Doherty Earth Observatory (LDEO) Budget Cycle:
 
The budget cycle below represents the budget process at LDEO. Within this process, each department or division’s staff analyzes the financial activity for the current year and makes projections about financial activity by fiscal year. Through this process, Budget & Planning analyzes LDEO activity that is supported by sponsored project revenue and other institutional funds into the component parts that fall within the University fiscal year.


Lamont-Doherty Earth Observatory Budget Year Calendar: 

 
Fiscal Year (FY) 2013 Actuals and Fiscal Year (FY) 2014 Budget
FY 2013 Budget Q1 Update
October 2012
 
 
 
FY 2012 Q1 YTD actual results – Responses due by Departmental Administrators (DAs)
DA Submission of FY2012 Grant Projections, R&R, Salary Plan Usage Estimates
FY 2013 Budget Q2 Update
January 16, 2013                       
FY 2013 Q2 actual results - Responses due by DA’s
FY 2014 Original Budget
January 25, 2013
LDEO Divisions Deadline – Submission of Budget Projections for FY2014
FY 2012 Budget Q3 Update
April 17, 2013
 
FY 2013 Q3 actual results - Responses due by DA’s
FY 2012 Budget Q4 Update
 
August 2013
 
FY 2013 Q4 Year-end actual results - Responses due by DA’s
 
Highlights for Submitting Original Budget
 
  • Templates are available for budget submission and include Government, Private, Recruitment/Retention, Lamont Research Professor Salary Plan, and a Salary Detail Template. Please contact Jen Potocnik via email at jenniferp@admin.ldeo.columbia.edu.
  • Proxy amounts should be estimated at a conservative level, including only those proposals with a very high probability of being awarded within the fiscal year. Please include only the portion of awards that will be spent during the fiscal year.
  • Salary budgets should be limited to staff that will be paid from grants within budgeted division.
 Highlights for Monitoring Quarterly Variances
 
  • All Account Activity:
    • Variances are analyzed by COB (Consolidated Operating Budget) Line available in the ARC Portal under Reporting Quick Links, section: Consolidated Operating Reports.
    • Compare current Year to Date (YTD) activity vs. YTD of prior year for the same period and provide explanations of significant variances, generally 10% or $50K whichever is higher.
  • Sponsored Projects (Government and Private Grant Funding)
    • Compare Current Estimate Budget vs. YTD Actuals, project spending to year-end, and provide explanation for potential surplus/deficit.
    • Variance explanations should be submitted using COB Summary Reports provided by the Finance Office which will include expense detail.

Note: Requests to adjust the Current Estimate Budget should be submitted on Budget Templates.

 Any questions, please contact the Financial Analyst.