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- Can I make changes to my budget throughout the fiscal year?
- How do I correct a budget error?
- What is the difference between permanent and temporary budget?
- Where can I get information on the budget for my department?
- What is the Operating Budget for the University of Oregon?
- Why did the university change to a process that uses Blended OPE rates?
- How do the Blended OPE rates affect my employee withholding, take home pay, or annual salary?
- Which benefits are included/excluded in the blended OPE rates?
- Must we use the Blended OPE rates or can we use actual rates if we have them?
- How do we account for sponsored projects that cross fiscal years and the rates change?
- What benefits do Temps have?
- What benefits do Graduate Employees (GE) have for the 2.5% Blended OPE rate?
- What rate is used when an employee waives our medical benefits?
- What happens when grants are submitted through one department, but employees' appointments are not in that department?
- How will the university cover the actual benefits cost if the blended rate is lower than the actual benefit cost for a particular employee group?
- Can Blended OPE be charged on stipends, overtime, and extra compensation?
Can I make changes to my budget throughout the fiscal year?
Yes. Changes can be made throughout the fiscal year within a few guidelines: 1) the changes can only be made with the same fund; 2) it must be balanced; 3) most budget changes can be made by units; 4) some budget changes can only be made by BRP (contact your Financial Analyst for assistance).
How do I correct a budget error?
- Budget is closed: contact Sponsored Projects Services (SPS) if grant related and contact BRP for assistance with all others
- Exceeds budget: process a budget transfer to move funds from one combination (department, fund and budgetary account) to another, or as allowable, move encumbrances and/or expenditures from one combination to another
- No Budget Exists: contact your BRP analyst for assistance
What is the difference between permanent and temporary budget?
Temporary (temp) funds are the funds you have to operate on in the current fiscal year. They are “one-time” funds. Permanent (perm) funds are funds that you receive year after year.
Where can I get information on the budget for my department?
Your department’s budget manager or the financial officer in your school/college dean’s office is usually the best resource for information on your department’s budget.
What is the Operating Budget for the University of Oregon?
The Operating Budget is a financial plan of current operations that includes both estimated revenues and expenditures for a specific period, normally a fiscal year. The budget is presented to the UO Board of Trustees each year.
Fund Type 11 (including grants) – Plant funds = Operating Budget
Why did the university change to a process that uses blended ope rates?
- It is considered best practice of leading research institutions as it will,
- - simplify and improve the preparation and administration of budgets;
- - simplify the grant proposal budget process;
- - simplify the accounting for OPE expenditures;
- - provide consistency of OPE expenses to all functional activities as required by Cost Accounting Standards 501 and 502, and OMB Uniform Guidance;
- - provide the university the opportunity to recover employee benefit costs from all funding sources, such as terminal leave payouts, and unemployment benefits;
- - under this new method, the university's current challenges with allocating the cost of employee leave across multiple funds or grants will be resolved.
How do the Blended OPE rates affect my employee withholding, take home pay, or annual salary?
The Blended OPE benefit rates will not affect employees at all. The rates are only for the costs charged as actuals to departments. Employees will not have an impact to their paychecks.
Which benefits are included/excluded in the Blended OPE rates?
- Included Benefits:
- FICA, Retirement, Health Insurance, SAIF (Workmen’s Comp), Unemployment insurance, Liability, insurance, Life insurance, ALL Leave (Sick, Vacation, Comp Time and Personal Leave)
- Excluded Benefits:
- Graduate Employee Medical Insurance, Tuition Remission and Mandatory Fees
Is it required to use the Blended OPE rates or can we use actual rates if we have them?
No, once Blended OPE Rates are implemented we can only use one method.
How do we account for sponsored projects that cross fiscal years and the rates change?
The Blended OPE rate that will be charged to your accounts will be adjusted each fiscal year, so the first payroll feed in July will have had the new rates charged to them. If you are budgeting for a sponsored project that crosses fiscal years, then you will need to adjust the Blended OPE rates for the employees accordingly based on the Estimated Projections For Future Years.
What benefits do Temps have?
Temporary employees at the University of Oregon are eligible to receive both Health Insurance and Retirement benefits should they meet the minimum requirements for each benefit (the minimum requirements are available at HR Benefits). Due to the mechanics of how Blended OPE is charged to units on campus, each Retiree or Temporary worker will still be charged the applicable Blended rate, regardless of their benefit eligibility.
What benefits do Graduate Employees (GE) have for the 2.5% Blended OPE rate?
The rates do not include medical insurance, tuition, or fees. The rate for Graduate Employees only includes taxes and sick leave. Units will be charged the actual medical insurance, tuition and fees each month via a Journal Voucher which the Business Affairs Office will process each month through the operating ledger (not processed through payroll).
What rate is used when an employee waives our medical benefits?
The Blended OPE rates are applied to all employees regardless of whether or not they accept the benefit and regardless of which benefits options they elect.
What happens when grants are submitted through one department, but employees' appointments are not in that department?
There is no difference in the Blended OPE rates for employees regardless of which department they work in. Blended OPE rates are applied based on the salary amount and type of employee regardless of where the employee is appointed.
How will the university cover the actual benefits cost if the blended rate is lower than the actual benefit cost for a particular employee group?
At year end, Budget and Resource Planning and the Business Affairs Office will reconcile actual benefit costs incurred by the university with the amount charged using the Blended OPE rates. Any over or under recovery will be adjusted in future year rates.
Can Blended OPE be charged on stipends, overtime, and extra compensation?
Yes, Blended OPE can be charged to stipends, overtime, and extra compensation as well as regular salary. Blended OPE expenses are determined by applying the appropriate Blended OPE rate based on an employee’s E-Class earn code.