Budgeting & Financial Planning

The Office of Budget and Planning provides consulting services to help schools and administrative areas at Tufts with financial decision-making and strategy. Using a holistic approach, our team develops budgets and forecasts; supplies stakeholders with analysis, tools, and financial stewardship skills; and aims to reduce costs and staff effort related to budgeting. 

Operating Budgets

• Draft school, department, and business unit budgets, outlining the risks and opportunities to help you make informed decisions and facilitate approval from University leadership
• Compile the University budget for executive and board approval
• Ensure that compensation is accurately budgeted by funding source

Capital Budgets

• Develop and refresh 5-year capital budgets and ensure funding availability for deferred maintenance
• Process Capital Expense Authorizations (CEAs) on behalf of schools and departments
   

Cost/Capital Analysis

• Provides analytical and planning services, including financial, costing, business, and other analyses, as well as financial modeling and planning functions for new operating and capital initiatives.
• Sets the rates of the University’s fringe benefits and Facilities and Administrative Costs (F&A) for sponsored research.
  • Fringe Benefit Rates
  • F&A Rates and F&A Rate Agreement (PDF)

Forecasting

• Draft forecasts for departments, schools, and business units to outline short-term risk and opportunities

Budget Monitoring

• Assist schools and units with strategic financial analysis to support program/business goals
• Provide education and training on budgeting best practices
• Track and analyze trends in expenses and revenues, monitor budget performance, and ensure that transactions are allocated to the correct accounts
   

Budget-Related Transactions

View workflows for compensation and non-compensation budget transactions.