Use these tips and resources if you are creating a budget for one of MIT’s auxiliary or break-even enterprises.

Review expected revenues and expenses

When budgeting for an auxiliary enterprise, base your budget on your entity’s projected revenues and expenses for the upcoming year. These revenues and expenses do not have to match the actual revenues and expenses of the previous fiscal year.

Use the Budget Preparation Guide and Tutorial to understand the overall structure of the Institute’s budget. The Guide includes a tutorial for NIMBUS, MIT’s online budget submission and maintenance application.

Budget auxiliary-specific salary adjustments

Salaries for MIT’s auxiliary enterprises are not subject to the automatic adjustments that non-auxiliary entities receive after submission. You must budget your salaries at expected levels for the coming fiscal year. These salaries may or may not match the actual salaries of the previous fiscal year.

Balance overall bottom line

By definition, your auxiliary enterprise should always break even. If you anticipate a net profit, your budget should include a transfer-out equal to the amount of the projected net profit. If you anticipate a net deficit, your budget should include a transfer-in equal to the amount of the projected net deficit.

The Details

Review expected revenues and expenses

When budgeting for an auxiliary enterprise, base your budget on your entity’s projected revenues and expenses for the upcoming year. These revenues and expenses do not have to match the actual revenues and expenses of the previous fiscal year.

Use the Budget Preparation Guide and Tutorial to understand the overall structure of the Institute’s budget. The Guide includes a tutorial for NIMBUS, MIT’s online budget submission and maintenance application.

Budget auxiliary-specific salary adjustments

Salaries for MIT’s auxiliary enterprises are not subject to the automatic adjustments that non-auxiliary entities receive after submission. You must budget your salaries at expected levels for the coming fiscal year. These salaries may or may not match the actual salaries of the previous fiscal year.

Balance overall bottom line

By definition, your auxiliary enterprise should always break even. If you anticipate a net profit, your budget should include a transfer-out equal to the amount of the projected net profit. If you anticipate a net deficit, your budget should include a transfer-in equal to the amount of the projected net deficit.

Did You Know?

The NIMBUS Budget Transaction Request (BTR) tool lets you submit mid-year budget reallocations directly into the NIMBUS system, reducing data entry steps and providing greater clarity regarding transfers.
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