SB-2 entities must create and submit a Default Budget before they are permitted to finalize the proposed budget.
Creating the Default Budget
To create the Default Budget, click the "Default Budget" button at the bottom of the Budget Home page. The Portal will import your prior year adopted operating budget values and display an appropriations account code table.
This table, which is similar to the one shown when editing a warrant article, has five columns that are unique to the Default Budget:
- Prior Year Adopted Operating Budget: automatically imported from the previous year's adopted operating budget. The column may be edited if necessary.
- Reductions or Increases
- Less One Time Appropriations: the amount of any non-recurring appropriations that were included in the prior year's operating budget.
- Default Budget: The final value for the current year's Default Budget. This column is calculated from the amounts entered in the previous three.
- Reason: If a value is entered in the "Reductions or Increases" column, this is a required field.
There are five buttons at the bottom of this page:
- Budget Home: this discards your changes and returns you to the Budget Home page.
- Save & Refresh: this saves your changes and recalculates the "Default Budget" column and the totals at the bottom of the table.
- Save & Budget Home: this saves your changes and returns you to the Budget Home page.
- Submit: this submits your Default Budget as final (the "Status" column on the Budget Home page will show "Final" after submission).
- View Default Budget Report: this allows you to view your Default Budget report.
The Default Budget report can be viewed at any time. The report will contain draft markings until the Default Budget has been submitted.