The budget build is done for the beginning of the new fiscal year. The University of Illinois Fiscal Year runs from July 1st to June 30 of the following year.
The basic formula used for a budget build is to cover all the last year recurring resources by fund (xxx9), subtracting out any cancelled title(s) paid for in the immediate past year, and then adding whatever percentage of inflation projected for each fund. That data is calculated every year based on actual spends.Inflation does occur annually but additional funds to meet projected inflation is not consistently available. Whatever is left from meeting the recurring costs are the one time funds available per fund manager and are put in the xxx0 fund (or apportioned to a media fund xxx12 should that fund manager desire). The new budget always will show if deficits are expected due to unmet inflation needs.
The budget build takes into account any programmatic changes to the budget that may include new funds being created, old funds being deleted, and any permanent transfers authorized by the fund manager during the previous fiscal year.
The budget is announced at CDC and via LibNews and made available at: G:\Collections Info, under the FY folder.