Effective July 1, 2008, a new budget model is being implemented by Central Michigan University. The new model is called the Responsibility Centered Management (RCM) budget model.
Tuition Revenue: On-campus tuition revenue will continue to post to the cost center applicable to the course designator (see link below) automatically by Student Life Cycle Management (SLCM) system. Summer 2008 - Phase II tuition related to off-campus courses will be posted by Accounting Services via a manual journal entry effective July 1, and during each month-end close process. For the fall 2008 semester, SLCM will begin posting off-campus tuition automatically to the applicable cost center for each course designator (see link below).
The budget analyst for each college has access to on-line reporting for summer tuition that will provide a recap of enrollment and calculated tuition by event package. A report is under development for summarizing tuition and enrollment for fall 2008.
State Appropriations: In July of each fiscal year, Accounting Services will post a journal entry to allocate the annual amount of state appropriations for each affected cost center. This amount will be posted to general ledger account 599970 State Appropriations Distribution. If adjustments to the appropriations are received from the State of Michigan, subsequent adjustments may be posted to the various cost centers at that time.
Please see Financial Planning & Budget's Portal website for an explanation of how the allocation percentage was determined for each department.)
Operating Assessment: During each month-end close, Accounting Services will post a journal entry to post the Operating Assessment Expense to the various academic departments. The amount of the assessment will be calculated by applying the allocation rate applicable to each College to Tuition & State Appropriations revenue posted to each academic cost center.
See Financial Planning & Budget's Portal website for an explanation of how the allocation percentage was determined for each department. The academic cost centers will see these adjustments in general ledger account 959973 Operating Assessment Expense.
Service centers will receive their annual allocation of their Operating Assessment at the beginning of each fiscal year. These adjustments will be posted in general ledger account 599974 Operating Assessment Distribution.
Please see the Financial Planning & Budget website for additional information on this model. Their website includes the proposed RCM budget model policies and a manual used in training departments on the new budget model. Their training manual refers to the links below for the users' reference.
Additional Information Available:
The following links to additional information are provided so that department administration may find useful in understanding the recording of tuition and fees to their cost centers on SAP.
- Course Designators & Cost Center Crosswalk: provides a listing of the 3 character course designator and the cost centers to which the on-campus & off-campus tuition dollars are posted
- Course Fees & G/L Account Number Assignment:provides a listing of the various course fees assessed by SLCM (Student Life Cycle Management) and the general ledger account number used to record this revenue to the affected cost center.
Please contact Pat Duffy (telephone 774-1139 or email firstname.lastname@example.org) if you have additional questions about the general ledger entries related to the new budget model.