Preparing Budgets in NUPlans

Transcription

1 Preparing Budgets in NUPlans Vide Transcript The purpse f this vide series is t intrduce the NUPlans cmpnents and prcesses that supprt budget preparatin in Nrthwestern University. The vides and bjectives are belw. Vide 1: Budget Cmpensatin: Existing Emplyees Tur the Cmp Input View Budget Existing Emplyees per Funding Surce Update Funding Surces Vide 2: Budget Cmpensatin: Placehlders Add Placehlders fr Planned New Hires Budget Planned New Hires Vide 3: Budget Cmpensatin: Ttals and Summaries View Cmp Ttals View Cmp Summary View Cmp Fund Overview Budget Cmpensatin at the Accunt Level & Enter Salary Breakage Vide 4: Estimate Grant Expenses Tur the Grant Input View Estimate Expenses in Grant Input Add Grant Prpsals t NUPlans Use Grant Prpsals as Cmpensatin Funding Surces Manipulate the View (Shw/Hide Clumns) Exprt the View t Excel Get the Indirects Reprt in NUPlans Web Vide 5: Budget Revenue and Expenses Tur the Fund Input Views Manipulate the View (Shw/Hide Rws) Exprt the View t Excel Add an Accunt t a Chart String Enter Revenue and Expense Budgets Refer t Frecasts when Entering Budgets Refer t Budget Targets when Entering Budgets Find the Final Budget Find Budget Balance and Variances at the Fund Level Vide 6: Find Budget Balance and Carry Frward Tur the Carry Frward View Find Budget Balance at the Budget Gruping Level Find Carry Frward Vide 7: Get Budget Preparatin Reprts Update Reprts Identify Reprts by Purpse Exprt Reprts t Excel r PDF Vide 8: Initiate the Review Prcess Submit the Budget fr Review NUPlansPrepareBudgetsV Nrthwestern University Page 1 f 10

2 Budget Cmpensatin Vides Tpic Vide 1 Purpse f the Cmp Input View Tur the Cmp Input View Budget Existing Emplyees per Funding Surce Mass Lad Cmp Input Review Chart String Status Budget Cmpensatin: Existing Emplyees Cmp Input is a view f all existing emplyees in yur budget gruping and all funding surce chart strings in scpe f yur budget gruping. The purpse f the view is t build a bttm-up estimate f the cmpensatin budget based n emplyee cmpensatin and funding surces. Emplyees are listed in alphabetic rder with their Emplyee ID. Fr each emplyee, yu see the salary funding surces. All HR data displayed in the Cmp Input view is based n a feed t NUPlans frm FASIS. Actuals reflect expenses thrugh the March perid clse date. Encumbrances are thrugh the end f the current fiscal year. Sme f yu may nly see a few r a few dzen emplyees. Others may see hundreds. In this example, yu see a budget grup with abut 100 emplyees. The view scrlls dwn. The view als scrlls right, because there are many clumns. Fr cnvenience, data entry fields are gruped n the left side f this page and reference-nly fields are gathered n the right side. T the right f the emplyee name, yu see a character F r S telling yu whether the accunt is cnsidered a faculty r staff accunt. O means Other. Next yu see funding surce chart strings, the Chart String Status, Annual Rates and Distributins, cmpensatin budgeting Methd, % Change, Amunt, next year s Salary Budget, calculated Benefits, and the cmpensatin ttal. Fr mre infrmatin n the Cmp Input view, see the NUPlans Cmpensatin training materials. T budget cmpensatin, select a methd t calculate the salary budget fr the rw: - (n methd, n budget) Use FYxx Rate with FYxx Distributin (use next year s Jb Annual Rate with the current year s distributin %) Apply % Change t FYxx Distributin (enter % Change ver/under current year s distributin amunt) Use FYxx Rate with FYxx Distributin (use next year s Jb Annual Rate, enter next year s distributin %) Use Amunt (enter distributin amunt fr next year in the Amunt clumn) As a timesaver, yu may preselect a methd fr the entire budget grup by using the Mass Lad Cmp Input frm in NUPlans Web. This will verwrite any data entered in the Cmp Input view. Therefre, Mass Lad Cmp Input shuld be used befre ding any data entry in Cmp Input. 1. Navigate t Applicatins > Cmp Input Maintenance > Mass Lad Cmp Input 2. Cnfirm/select child budget gruping. 3. Select criteria fr lines t lad 4. Select methd. 5. Enter Rate, % Change r Amunt based n Methd selected. 6. Click Mass Lad Cmp Input. 7. Click Cntinue and then click OK. Return t NUPlans Cntributr t view the results. Yu will need t refresh the view. The Chart String Status field tells yu whether the amunts yu enter will flw t yur budget, r nt. Active r Grant exists is budgeted; Fund Nt Budgeted is nt. NUPlansPrepareBudgetsV Nrthwestern University Page 2 f 10

3 Update Funding Surces Vide 2 Add Placehlders fr Planned New Hires Add Salary Placehlders Frm Vide 3 Cmp Ttals Review the status f all chart strings t ensure the nes yu expect t flw t yur budget are flwing. If yu see the status Chart string des nt exist next t a funding surce in yur budget gruping that may indicate a data entry errr. Crrect the ChartField in errr and Recalculate. As yu start budgeting, yu may need t ensure that all funding surces exist that yu will need fr next year s cmpensatin. Yu can add lines, edit the funding surce, r remve it altgether. Let s see the features that d that. First is the New Line? clumn. Fr example, if yu need t budget a new funding surce fr an emplyee. Click int the cell and select Add Line. In the new blank line that appears, input the salary amunt and add the chart string. The feature als enables yu t cmplete the picture f emplyee salary if ne desn t already exist. Fr example, if yu budget faculty with dual appintments, yu see nly the funding surces that yu budget. Yu can add a line fr prtin funded by anther schl, using a placehlder chart string (ex: ) and enter a Cmment Dual Appintment paid by Other Schl. This is nt necessary, just a pssibility, if yu prefer t see a cmplete picture f each persn s salary. On any existing line, the ChartFields (Fund, Department, Prject, and Accunt) are editable, which is hw yu change a funding surce. T remve a funding surce, use the Funding Status Change clumn. It makes the line un-enterable and prevents budgeting n the line. The result is equivalent t budgeting zer, with the added safeguard f preventing an accidental data entry. Budget Cmpensatin: Placehlders After budgeting existing emplyees, yu may need t add placehlders fr planned new hires if the vacant psitin is nt listed in Cmp Input. This takes place in the Add Placehlder Data views. Add Placehlder Data Simple Add Placehlder Data Add Placehlder - in NUPlans Web Edit Placehlder Data In Add Placehlder Data, five default rws appear, New Emplyee 1, 2, 3, 4, and 5. These are fr yur cnvenience. Sme schls and units with few planned new hires can enter them in these fields as prvided. Hwever, yu may want t be mre descriptive, and if s, yu can add placehlders with a name that yu prvide t this view. T d s, use the Add Salary Placehlders frm in NUPlans Web. T d s, use the Add Salary Placehlders frm in NUPlans Web. Once n the frm, select a budget gruping and add the descriptin. A best practice is t include yur budget gruping number in the descriptin, the number that appears in parentheses after the budget gruping name. Ding s enables yur reviewers t srt their view f placehlders. Because they may see dzens r hundreds, they appreciate this practice. The HR hme department ID is ptinal. Use it t enfrce the cnfidentiality f executive cmpensatin. Click Verify Status, then click Add Placehlder > OK. Back in Cntributr, yu can find it immediately in Add Placehlder Data. Indicate whether this planned new hire is apprved in the Placehlder Apprval clumn. The amunt des nt flw t yur budget unless yu indicate it is apprved. Enter the chart string, salary amunt, and cmments. Click Recalculate. Benefits are calculated fr yu. Budget Cmpensatin: Ttals and Summaries Fur views shw yu the results f cmpensatin budgeting. NUPlansPrepareBudgetsV Nrthwestern University Page 3 f 10

4 After entering estimates, yu may need a ttal and ttals per emplyee. Yu can find that in Cmp Ttals. A ttal is at the tp left side f the view. Existing emplyees appear first fllwed by placehlders. Cmp Summary Cmp Fund Overview Cmp Budget by Chart String Find Cmpensatin in the Fund Views In Cmp Summary, yu see an analysis by fund and accunt. Three subheadings separate budgeted frm salary funded by grants and frm ther salary inputs whse funding surces are nt in yur budget gruping. Things yu may expect t see here include cst share funds. This is yur summary n Fund 192. Yu can als expect t see yur dual appintments, and the amunts paid by funding surces utside ur budget gruping, again, if yu chse t enter them in Cmp Input. Other things that yu d nt expect t see here Unexpected ttals may indicate a data entry mistake. In Cmp Fund Overview, yu see ttals per emplyee by fund. In the Cmp Summary and Cmp Fund Overview, the summarized amunts are drillable. Right-click, muse ver the wrd drill, and click the drill name t see the detail behind this figure. Find a list f all drills, and the steps t d this yurself, in the NUPlans Cmpensatin training materials. The view Cmp Budget by Chart String has tw purpses. The first is summary level cmpensatin estimates. This is where yu budget temprary wages, vertime, additinal pay, stipends, and student wages in lump sums. The secnd purpse f the view is Salary Breakage. If yu think yu may nt spend all that was estimated in terms f cmpensatin, r if yur estimate exceeds the budget target, yu can reduce the estimate, by accunt, using an amunt r a percentage. Only negative amunts are allwed in the Adjustment field fr Detail Only accunts. Fr example, if yu knw a psitin will nt be filled in the first half f the year, yu can reduce the amunt flwing t yur budget here. Enter a negative amunt {Enter -30K} and Recalculate. All budgeted cmpensatin flws t the Fund views where it appears in the Ttal Linked In clumn. Expand the clumn t see Linked frm Cmpensatin. These figures are als drillable, and they lead t a list f emplyees that cmprise this figure. NUPlansPrepareBudgetsV Nrthwestern University Page 4 f 10

5 Vide 4: Estimate Grant Expenses Tpic Purpse f the Grant Input View Tur the Grant Input View Enter Grant Expense Estimates Add Dummy Chart Strings fr Grant Prpsals The Grant Input view exists t capture estimates f spending per grant in yur budget gruping in the upcming fiscal year. The purpse is t create a bttm-up estimate f expenses frm which NUPlans can calculate a revenue budget fr Indirect Cst Recvery (ICR). The Grant Input view in Cntributr displays existing grants frm NUFinancials. A nightly refresh ensures that any new grant chart strings added t NUFinancials als appear in the view. The grants are in numeric rder by default and displayed next t the Prject PI. Fr each grant, yu see six rws f supprting data by default, als imprted frm NUFinancials. Ttal Grant Budget. Inceptin-t-Date Actuals. The grant s current year expense estimates are next. These are the expense estimates made last year in NUPlans during last year s budget preparatin. Current year actuals. Yur mst current frecast, if there is ne. The final rw, Budget Input, is fr next year s expense estimates. Frm left t right, the clumns are: Prject PI, Begin Date, End Date. Budgeted Ttal Salaries and Benefits. The first set f clumns is fr expenses t be included in the calculatin f F&A. They span frm Service & Prf Fees thrugh Other Direct Exp Included. The secnd set f clumns is fr expenses that are nt included in the calculatin f F&A. They span frm Capital Equipment thrugh Other Direct Exp Excluded. F&A Rates are imprted frm NUFinancials. This field is editable. And finally, there is a field fr cmments. Enter an estimate f spending per categry. Click Recalculate. These accunt categries are the same categries yu see in the GL077 Incme Statement Reprt and in NUPlans Frecasting. They align with accunt cdes that are used in grant budgeting and that appear in Cgns reprts, such as the GM045. Yu can exprt a spreadsheet f the cdes and categries frm NUPlans Web. Scrll right t see the calculatin f F&A Ttal. The calculatin is Ttal Direct Expenses Included multiplied by the F&A Rate equals F&A Ttal. If yu knw f grant prpsals that are likely t be apprved, yu can add them t yur budget preparatin file. Users with Grants r Prep File access, can use a frm in NUPlans Web called Add Grant Prpsals. On the frm, select the budget gruping, fund, and department. Then enter a descriptin that yu and yur clleagues can recgnize. Click Verify Status > Add Grant Prpsal > OK. NUPlans assigns the prject number GPXX, where XX is the next number in sequence, shwn at the bttm f the frm. In Cntributr, this dummy prject ID appears immediately. NUPlansPrepareBudgetsV Nrthwestern University Page 5 f 10

6 Use Grant Prpsals as Cmpensatin Funding Surces Find Grant Prpsals in Grant Input Hide Unused Clumns Exprt the view fr Ttal F&A per budget gruping Get the Indirects Reprt Wrap Up In the cmpensatin views, the grant prpsal can be used t fund a prtin f salary, bth fr existing emplyees and placehlders. T use the grant prpsal, add a line t the emplyee in questin. Enter the Fund, Department, and Prject, where the prject is the prpsal ID, in this example GPXX. Enter Salary Input and Recalculate. In the Grant Input view, prpsals appear at the bttm f the view. They have ne rw, Budget Input, fr expense estimates. If yu exprt the Grant Input view t Excel, yu may want t hide sme unused clumns. The G_Grant_Inf dimensin enables yu t d that. In this view, the five distributin chart string clumns at the far right are prbably nt necessary in Excel. Click t pen the dimensin. Press <Cntrl> and select F&A Department 1 thrugh F&A Chart String 5. Click the black X icn (knwn as Delete r Hide) and OK. Yu may want a ttal f F&A per Budget Gruping. The view gives yu a ttal per prject, but nt per budget gruping. After hiding thse clumns, yu can exprt the view t Excel and create the ttal there. Click the Exprt icn, Snapsht t Excel, OK, OK. In Excel, ttal the F&A Ttal clumn. Yu als have a reprt in NUPlans Web fr that purpse. All users with Grants and Prep File access can find the Indirects Reprt in the Reprts flder. All reprts are updated nightly. And any updates made during the day are reflected immediately in the Indirects reprt. Open the Indirects Reprt and click Refresh. That s it fr ur tur f grants in NUPlans. NUPlansPrepareBudgetsV Nrthwestern University Page 6 f 10

7 Vide 5: Budget Revenue and Expense Tpic Purpse f the Fund Views Tur the Fund Views Remve Ttal and Subttal Rws In this vide, we tur the Fund views f NUPlans where revenue and expense budgets are prepared at the chart string and accunt level. In NUPlans, all fund views have the same layut with ne exceptin, Endwments, which has a few additinal clumns. We re in Fund 172. At the tp f the page is a set f rws ttaling the chart strings that appear belw. This set f rws is view-nly. Yu cannt enter data here. Yu can enter data next t the chart string. Users with access t the entire budget gruping see this rw. Users with access t nly part f the budget gruping d nt. Ging dwn the page, yu see all base chart strings in this fund in numeric rder. A sectin fr revenue is first. Yu must expand t see the accunts. All accunts named in the last year s budget are here, plus any accunts that have seen activity in the current r previus tw years. The same is true fr the expense sectin. If an accunt that yu need is nt here, yu can add it using a frm in NUPlans Web. Frm left t right, this view has reference infrmatin t supprt decisin-making, budget data entry in the middle, and calculated clumns n the right. Let s start at the left. Yu have tw years f budget histry and the current year s budget. Beginning carry frward n accunt Tw years f actuals histry and current year actuals called Obligatins. Actuals reflect spending (actuals and encumbrances) and earnings as f the March clse. If yu use NUPlans Detailed Frecasting at the accunt cde level, yur frecast appears. Frecasts are updated n a nightly basis. Next is the next year s Budget Target applicable t Funds 110 and 171. Then next year s Budget Input. Fllwing are additinal linked in budget amunts. Linked in clumns are cllapsed by default. When yu expand the clumn, the children appear at left. This is true in every parent clumn. Linked in clumns display the data flwing int yur budget frm ther views, namely the Cmp Input view and the Cmp Budget by Chart String view. In this example, cmpensatin was budgeted already. This number is drillable, s if yu have Salary access, yu can drill t detail in the Cmpensatin views. Cmmitment revenue apprved fr yur chart string appears here. And depending n decisins within yur area, yu may als see ther linked-in amunts utilities and grants. Sme areas map utilities and grants t the Dean s Office level. At right, the Final Budget is the sum f yur Budget Input and Linked In Data. Variances appear next, such as the variance between yur budget input and the budget target. Like the Frecasting applicatin, yu can mdify the view fr easier data entry. The Rws dimensins, G_ChartString_Base and G_Accunt, have tw prebuilt layuts called Subsets. Click the black arrw n the dimensin, Click the Subset drp-dwn arrw. In this list there are subsets yu can use and sme yu shuld nt. Thse yu can use are at the tp. Thse at the bttm, starting with z are nt fr yur use. Select Detailed Chart Strings. This layut remves Ttals frm the tp f the page. Nw data entry is pssible in prime real estate at the tp f the page. NUPlansPrepareBudgetsV Nrthwestern University Page 7 f 10

8 In the ther Rws dimensin, yu can d the same thing. Click G_Accunt. Select Detailed Accunts. This remves the subttal rws fr revenue and expenses. This view was created fr exprting int Excel. Exprt a View t Excel Replace Subttal Rws Add an Accunt t a Chart String Enter Revenue and Expense Budgets Refer t Frecasts when Entering Budgets Refer t Budget Targets when Entering Budgets Enter Amunts in Budget Input Recalculate View the Final Budget Clumn Cmmit Data Wrap Up The exprt reprduces the layut exactly, s what yu see is what yu get in Excel. T exprt, click the blue arrw, Snapsht t Excel, Exprt all rws in the view, OK. T replace the subttal rws, pen the G_Accunt dimensin again, and select the subset Accunt Subttals. This is a gd arrangement f the view fr data entry. Suppse yu need t budget n an accunt that des nt exist n the chart string. Fr example, this Cnsulting Prject needs t estimate revenue n accunt In NUPlans Web, pen the Chart String Maintenance flder. Open the Add Accunt t String frm. Select the budget gruping, chart string, and accunt. Click Add Accunt > OK. The result is immediate. In Cntributr, yu may need t refresh the view t see the new accunt. Click Reset, Reset Current View, t refresh the page and restre the riginal layut. In the Fund Views, there are nly tw clumns fr data entry: Budget Input and Ntes. The key t using the supprting data in the view is knwing which f the ther clumns best supprts yur decisin abut what t enter. Depending n the fund, yur circumstances, and practices within yur schl r unit, yu may refer t histry, the Current Budget, Current Actuals, the Frecast, r Budget Target, then enter amunts in the custmary accunts. Use Ntes t specify where yur Budget Input came frm. In Fund 172, where there are n budget targets, yu may have frecasts t rely n. S fr example, if this year s frecast is the mst reliable budget input fr next year, yu may cpy and paste the frecast amunts int Budget Input. In Funds 110 and 171, centrally-supprted schls and units have budget targets t rely n. S yu may cpy/paste the Budget Target int Budget Input r be mre selective when yu have a redistributin f spending authrity in mind. While NUPlans facilitates a detailed accunt-level apprach t budgeting, yu can use Budget Input in any way that aligns with yur current practice. Fr example, if yu histrically entered a lump sum fr Other Expenses n a representative accunt, the ptin remains t d s. Whatever yur methd f budgeting, cntinue editing in this way until yu finish. After entering budgets, Recalculate t see the final budget and variances. The calculatin is yur Budget Input plus Linked In amunts equals the Final Budget. The Final Budget clumn is the place t lk fr Net and ut-f-balance amunts at accunt, chart string, and fund levels. At right, find variances between the final budget and ther significant numbers. Budget versus Budget Target, Budget versus Frecast, current year budget versus last year s budget. All variances are expressed as bth an amunt and percentage. S fr example, if a salary grwth parameter f 4% applies t the budget, lk here fr an indicatin f that difference in this fund. Whatever applies t Other Expenses, lk here as well. At the end f the budget preparatin seasn, this clumn is upladed with yur chart strings int NUFinancials t create the apprved base budget next year. Befre exiting NUPlans, be sure t cmmit the data yu entered. Click Cmmit. Clse the budget preparatin file. On the Dashbard, yur NetID is shwn with the date and time that yu last cmmitted data. That wraps up ur tur f budgeting revenue and expenses in NUPlans. NUPlansPrepareBudgetsV Nrthwestern University Page 8 f 10

9 Vide 6: Find Budget Balance and Carry Frward Tpic Where are the results f budgeting? Tur the Carry Frward View Wrap Up The Carry Frward view uses NUPlans autmatic balancing features t shw an analysis f perfrmance and carry frward ver time. While the Fund views in NUPlans Cntributr shw final balance at the fund level, areas that pt-in t autmatic balancing can find a final balance and carry frward prjectins fr the entire budget gruping. Let s tur the view hrizntally. Frm left t right, the clumns display: yur initial carry frward this year the current year revenue and expense budgets the current year revenue and expense frecasts a prjectin f this year s ending perfrmance next year s budget balance per chart string, fund, and budget gruping (Ttal Funds). The shrt name f this clumn is Net. This clumn nly applies t areas and chart strings that use autmatic balancing. In that cntext, zer indicates a balanced budget. Anything aside frm zer is either a use r buildup f reserves, hence the lng name f the clumn. The final clumn is a prjectin f next year s carryfrward. Cmments Chart String Status It s a great analysis f the budget gruping that makes it easy t find ut-f-balance chart strings. Fr example, all these chart strings in Funds 160, 171, 172, Gifts, and Endwments where the amunt is zer are balanced. This chart string with the amunt in parentheses is in deficit. This is in the black. All areas wh use NUPlans Frecasting can find this view useful fr the analysis f current year-end perfrmance at the budget gruping level. Areas that als use autmatic balancing can find the budget balance and the prjectin f next year s ending carryfrward. Centrally supprted schls and units can find an equivalent analysis f the budget gruping in the Allcatins view. NUPlansPrepareBudgetsV Nrthwestern University Page 9 f 10

10 Vide 7: Get Budget Preparatin Reprts Tpic Where are the results f budgeting? Update Reprts Identify Reprts by Purpse Exprt Reprts t PDF r Excel Wrap Up While NUPlans Cntributr ffers tw summary views, NUPlans Web ffers a chice f many reprts and summaries. A key pint t remember is that these budget preparatin reprts draw data frm NUPlans, nt NUFinancials nr the Cgns data warehuse. NUPlans reprts supprt analysis, discussin, and reviews f next year s budget. Overnight, NUPlans updates all reprts autmatically. If yu re wrking n the budget and want a current reprt, yu must update the reprts during the day. Open Update All Reprts, Update Reprts, OK. Yu als have the chice t update specific reprts. Nw let s lk briefly at sme f these reprts. The All Funds Budget Reprt is ne f the mst detailed. It imitates the Fund views f Cntributr. Upn pening, the Revenue and Expense rws are cllapsed by default. It s imprtant t expand all rws befre yu exprt t Excel. The Budget Summary Reprt is a view f the budget by accunt categry. The Accunt Hierarchy here is the same hierarchy used in NUPlans Frecasting and in the GL077 Incme Statement Reprt. Again, if yu want t see accunt cdes, expand all categries befre yu exprt t Excel. Optinally, yu can exprt the reprt hierarchy int Excel fr reference instead f expanding all categries. Budget Results is a summary, ne line per budget gruping within yur Prep File. All reprts are explained with visuals in ur nline library. T exprt a reprt t Excel, click the blue arrw, OK. Watch the dialgs presented by yur brwser t pen r save the file. That wraps up ur tur f reprts in NUPlans Web. Vide 8: Submit Budgets fr Review Tpic Submitting the Budget fr Review Submit the Budget fr Review Befre the budget preparatin deadline, a user with Submit access fr their budget grup submits the budget fr review, at which time the budget is lcked t prevent further changes. Submitting data makes it public and signals t the next level f apprver that they shuld review. Nt all users have Submit access. Yur permissins n the dashbard will indicate that yu can submit the budget if the Submit icn appears. When yu are cnfident that the budget is ready fr review, click the Submit icn. A cnfirmatin appears. Click OK t submit. The editable fields turn gray, as yu are lcked frm making any further changes t the budget, and the Submit icn is grayed ut. The NUPlans Cntributr dashbard nw indicates that the budget was submitted fr review. If the budget was submitted by mistake, cntact yu apprver t have them reject it, thereby giving yu access again. NUPlansPrepareBudgetsV Nrthwestern University Page 10 f 10