Service Finance is responsible for budget execution, expenditure analysis, setting rates, and the formulation of common policy billing. Staff also tracks appropriations and expenditures by service category, provides estimates of expenses, and determines service rates and cost recovery.
Budget execution is the process of monitoring, adjusting, and reporting on the current year's budget. Fiscal Partners monitor service spending throughout the year. Each service manager develops a spending plan at the start of the fiscal year, which runs from July 1 though June 30, and actual spending is then compared to these plans. Service managers periodically submit reports with summaries of spending to date and projections for the remainder of the year. Careful monitoring of the budget, including periodic review of these reports, is crucial for early identification of spending pressures -- areas of the budget which, if not adjusted, could lead to overspending by the end of the year. Spending pressures can then be resolved by altering spending patterns within a service or by initiating a budget action in partnership with the Budget Office.
Service Finance is also charged with setting rates for each service. Rate setting involves detailed compilation of prior years actual expenditures in conjunction with the formulation of the next fiscal year's forecasted spending. Rates are set each year for each individual service. These rates, along with other factors, combine to determine common policy billing.
Debbie joined OIT in 2009 to update the existing "services" structure into a platform capable of supporting the consolidated IT organization. As the Fiscal Customer Service Director, Debbie has a staff of 9 analysts who manage $200 M in annual expenditures across approximately 40 services.