FY17 BUDGETING IN BUDGET MAESTRO. Financial Affairs and Treasury Brandeis University as of March 10, 2016

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1 FY17 BUDGETING IN BUDGET MAESTRO Financial Affairs and Treasury Brandeis University as of March 10,

2 Budget Maestro Training Objectives O By the end of this session, you will be able to: Distinguish/define BM terms Design and run reports (BM and Excel) View and update budgets Understand other BM functionalities COMMENTS: BM steps not as complicated as these pages might appear. 2

3 Budget Maestro Basic Terms O PLAN database with budgets and actuals, for O O O O O O different fiscal years (e.g. FY17_BUDGETING) ACTIVITY VERSION budget version (e.g. FY17 BUDGSUBMIT; FY16_ORIGBUDG) ENTITY Deptid G/L ACCT Acct codes fund combination NAME (field) Chartfield values + name (description); DATA GROUP (DG) one of the chartfield values by which you can filter budgets (e.g., DG (Programs, Funds, Projects, Grants) VIEW how data is organized (e.g., SOABDOPR for accts; DEPT_HIERARCHY_VIEW for entities; PROGRAM_VIEW for programs) 3

4 Budget Maestro Basic Terms O PERIOD ENDING BALANCES (PEB) actuals O O O O (revenues and expenses) INCREASE/DECREASE METHOD one way of adjusting budgets by amount or % OPERATING EXPENSES Expense Budgets SALES (INCOME) Revenue Budgets (REVEST in PS) REPORT PROFILE Report Template (e.g., names of columns on report) 4

5 Login 5

6 Important pages 6

7 Hiding Icons- Right click and Unpin 7

8 Running reports O Best to start by running a report to see what are O O O O in the system You may see ALL lines or only certain lines, if you add filters by deptid, program, acct, or fund Allows comparison of multiple versions CANNOT make changes to budgets in reports (Only in SALES and OPERATING EXPENSES) Reports can be exported to excel (where you can add row and columns to help w/ budgeting) 8

9 Running/viewing reports 9

10 Defining reports 10

11 Defining reports 11

12 Defining reports adding filters (deptid, acct or prog) 12

13 Defining reports adding filters (deptid, acct or prog) 13

14 Running reports 14

15 How report looks prior to expanding rows 15

16 Report expanding rows 16

17 Report in Excel File O May use EXCEL version as your sandbox O Export to Excel (TIP: create a folder where you d save all Budget Maestro Reports) O You will be asked to SAVE the file (TIP: Create a name that describes the contents of the report) O You will be asked if you want to open the file. Report will open in Excel, already formatted). O Use any of Excel features: add or delete rows and columns; sort 17

18 Report saving into Excel 18

19 Creating your own reports 19

20 Creating your own reports (Review the numbers. If you use a view other than SOADOPR, please let us know if the numbers are different) 20

21 Creating your own reports (Comparing Actuals to Budgets by month) 21

22 Creating your own reports (Comparing Actuals to Budgets by month) 22

23 Creating your own reports (Changing from monthly to YTD) 23

24 Creating your own reports (Adding Variance) 24

25 BUDGETINGO Operating Expense budgeting O Revenue budgeting O Use Advance view defaults to this page 25

26 Expense Budgeting O ENTER BUDGETS for: O Expense budget codes incl Financial aid (Remember that transaction codes may rollup; please check our website) O Sponsored Programs are for the WHOLE unit in Fund 18 (NOT 15, 16 or 11); NO grant numbers O Take advantage of the DESCRIPTION fields, but NO need to enter a chargeline or account or deptid name (they are already there!) 26

27 Expense Budgeting O FRINGE BUDGETS for: O If making changes to salary budgets, add a line to show the net change in fringe budgets. O Assumed Rates: (subject to change) - Faculty with benefits - Staff with benefits - Post docs - Non benefited - Students (2 months only) % % % - 7.7% - 7.7% 27

28 Navigating to view or enter budgets O ENTITIES (DEPTID) O PROGRAM O ACCOUNT O FUND 28

29 Viewing Options O ENTITIES (DEPTID) O DATA GROUP (ENTITIES) - MASTER O DEPT_HIERARCHY _VIEW O PROGRAM O DATA GROUP (PROGRAM) O PROGRAM VIEW GIFT, ENDOWMENT, O ACCOUNT O DATA GROUP (ACCOUNTS) - MASTER O SOADOPR O FUND DATA GROUP - MASTER 29

30 Viewing Options 30

31 Viewing Options 31

32 Viewing by deptids 32

33 To get expense budgets by deptid 33

34 Operating Expenses 34

35 Tips and Tricks O When you don t see lines, clear filter and change views (clearing filters even if you have no grants) 35

36 Activity Version FY17 36

37 Modifying Oper Exp Screen 37

38 Changing budget amounts O Do NOT modify the chartstrings any of the chartfield values or name - on any of the existing budget lines; doing so would also change the budget lines in other activity versions. O You may change the budget amounts or add new lines (with full chartstrings and name) O Do NOT delete any lines. 38

39 When making budget changes O ADD BUDGET LINES and fill in the descriptions if: O the budget change will result in an overall increase or decrease in operating expenses (e.g., adding a new position not covered by current budget including reallocations); NOTE: if additional revenue streams will support the increase in expense budgets, add new revenue lines in SALES O Proposing transfers between different salary budget codes or between salary and OPEX O Proposing transfers of any budget from one unit to another (e.g., Facilities to Development). 39

40 When making budget changes O Make changes to the existing budget lines thru the increase/decrease method when: O Simply reallocating budgets among different deptids or OPEX accounts O Transferring budgets from one gift to another or one augmenting endowment to another or one gift to an augmenting endowment or vice-versa O the budget change will not result in an overall increase in operating expenses. 40

41 Changing budget amounts 41

42 Changing budget amounts 42

43 Changing budget amounts 43

44 Adding budget lines 44

45 Comparing budgets between activity versions 45

46 Revenue Budgeting O ENTER BUDGETS for: O Tuition, Fees and Auxiliary Income O Interdepartmental Revenue (5800) (related to expense budget in 7500) O Other Income (5900) O Other Auxiliary Revenue (5940) O Gift Availings (5988) not same as 5971 O Endowment Availings (5980) not same as 5969 O FOR EXPECTED GIFTS WITH NO PROGRAM CODES O Use Program Code for budgeting (NOT for transactions) O NO NEED TO ENTER BUDGETS for: O Gift Revenues from Direct Charges O Gift Revenues from OH Taxes O Endowment Revenues from Direct Charges 46

47 Revenue Budgeting 47

48 Modifying Revenue view 48

49 Tips and Tricks O FY17BUDGSUBMIT the version where units O O O O O amended and submitted budgets New versions will be created for approved FY17 budgets and FY17 budget reallocation. ADD lines; do NOT COPY lines Enter full chargeline (all fields) and descriptions. Create sub-budget lines if necessary No duplicates; use different name if same chargeline Use INCrease/DECrease method when adjusting budgets to be able to track changes 49

50 Tips and Tricks O BM on autosave; no UNDO button O Be patient: slight delay when opening BM or moving from page to page O Toggle from tab to tab O If you want to keep a starting view, pin it O If unable to add a budget line for a new program or deptid, contact us; we ll have to create the missing field in BM 50

51 Final Words O Gift/Endowment/Grant revenues that are based on expense budgets need not be entered in BM O For gifts and endowments that have limits, use the Gift budgeting worksheet (use 0% tax for endowments) O Deadline for budget submission in Budget Maestro TBD O Budgets in BM will be uploaded to PS once they are approved and finalized. 51

52 Final Words O Do NOT hesitate to call us with any questions O Let us know when your budget in BM is ready for O O O O review Budgets in BM will be uploaded into PeopleSoft Budget transfers and other changes will be performed in PS and copied into BM Actuals in PS will be imported into BM So, unlike the use of Budget Templates, BM will be used year round 52

53 HOPE THIS IS HELPFUL TO YOU! O Any questions? O For further consultation: Kris McKeigue Budget issues Angelito Santos Budget Maestro Ken Freda Reporting issues 53