A forecast is an estimation of the financial position of your division, faculty, department or unit at the end of the current fiscal year. It is comprised of the actual year-to-date revenue and expenditures plus an estimation of the revenue and expenditures that will incur for the remainder of the current fiscal year. The Forecast is based on a set of assumptions and projections that are made by the division, faculty, department or unit in conjunction with the Finance department.
Forecasts from Faculties and Units are due at the end of January each year. Budget deadlines (including Financial Forecasts) are described here.
Resources
Prior to the forecast submission due date the Finance Department offers Financial Forecasting courses available on YU Learn. In addition, another helpful tool is the Financial Forecast Guideline and Training Manual (PDF).
For information on the Budget Call process visit the Office of Budgets and Asset Management website.