Budget Development Overview

The Budget Development module will assist you in developing your budgets for future fiscal years.

The user interface provides a wizard-like series of input screens through which you enter all parameters that feed into the budget projection process. The wizard presents different parameter options depending on which data source is chosen in the first window.

• Budget projections may be based on three data sources: positions, salary schedules, and general ledger balances. See a description of the data sources below.

• The large task of budget development can be divided into smaller units of work by running the process multiple times with different subsets of your data — for example, part of your positions or one of your salary schedules or part of your chart of accounts. The results can then be combined into a complete budget.

Working with parameter sets

At any time during the process of setting parameters using the budget development wizard, you may save the set and load them at a later date. You may also return to the default parameters and discard any set you decide not to use. See Using Parameter Sets for instructions.

Budget development process

Before you can import the budget data, you must first create the new fiscal year and roll over your chart of accounts. If you're going to use the input wizard with salary schedules, you'll also need to modify and rollover salary schedules.

The budget development process consists of the following steps:

1. Use the budget development tool to collect all necessary parameters that will be used to project next year's budget amounts & generate a grid that allows you to add & edit items.

2. Edit the data.

3. Once you're satisfied with the results, send the data to Budget Management.

4. Optional. Delete result sets when you're through with them — for example, those from a previous year — by selecting the Delete Result Set command from the gear menu at the top of the Budget Development grid.

Data sources

• Positions — This option allows you to:

• • increase or decrease all salaries by an amount or percentage

  • increase benefit amounts

  • choose subsets of employees

• Salary schedules — This option allows you to:

• • increase everyone that is on a salary schedule one step

  • increase benefit amounts

  • choose subsets of data. For example you may just want to use this wizard to look at salaries and use the GL wizard to look at employer side benefits.

• GL balances — This option allows you to:

• • take your current budget or actuals to project your estimated increases or decreases

  • choose subsets of data

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