Medical School Revenue & Expense Budgeting Model Overview September, 2013

Transcription

1 Medical School Revenue & Expense Budgeting Model Overview September, 2013 Important Note: This guide is designed for those users who have knowledge of the prior year s budgeting models. If you are a brand new user, this guide will still be helpful; however, it is not meant to be a comprehensive walk-through of the model. For RAPS Support, send an message to RAPS@wustl.edu, or call

2 Table of Contents Tips and Tricks to Remember... 3 Budgeting and Planning Menu... 4 Medical School Revenue & Expense Budgeting Menu... 5 Budget Input General Operating... 6 Allocation Detail... 9 Budget Input Specific Purpose Margin Entries Budget Summary Exporting Data to Excel RAPS Job Aid Budgeting Data Entry Shortcuts RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 2

3 Tips and Tricks to Remember The following are some things to keep in mind when budgeting these are likely also to show up as RAPS Tips that are ed periodically throughout the budget cycle. It may be a good idea to print out this list to keep handy while you are working on your budget. It could save some time, frustration and calls to the help desk! 1. When in doubt, start by clicking the Refresh Button! This button not only saves your work, but it refreshed the screen and recalculates the data on the page. You will always know you have the right line items, subtotals and information when you have used the refresh button. 2. Do not use your browser back button to go from template to template. We have built buttons in the system to make sure you get to the right place or you can click on the tab for each template that is open since they stay open until you close them. 3. Select your dropdown menu items as the first thing you do on the template and IN ORDER that means from the top to the bottom and from left to right. The dropdowns are built to filter the lower level or the next set of dropdowns. They work the best when you use them in order. And don t forget to refresh after you have selected all dropdowns. 4. On the New Jobs template you will have to save after you select from the Primary/Secondary, Start Month and Academic Yr Pay Start dropdowns. So if you have a number of new jobs to add, select those first in each column and then you should be able to tab, arrow, enter or use your mouse to go from cell to cell and enter most of the other data. 5. On the Sourcing template for New Jobs, you must select $ or FTE from the blue box in the $/FTE Change column. We cannot default the selection like we do for Existing Jobs. This is the only blue dropdown box on the template. 6. When entering the Target Department on the Sourcing template, you can START typing in the department number, but use the dropdown to actually select the department. This will ultimately save time in keeping you from having to refresh so that you get the correct list of department-funds. 7. To add dollars for New Jobs or Aggregates, you MUST put data on the New Jobs or Aggregates template FIRST. You cannot just enter data on the Sourcing template to add dollars. Also remember if you delete the data you entered for a New Job or Aggregate on those templates YOU MUST ALSO delete the associated sourcing on the Sourcing template. If you leave the sourcing this will cause errors in your budget. 8. When you exclude from budget an Existing Job, you should also delete the sourcing on the Sourcing template. If you leave the sourcing this will cause errors in your budget. 9. Be aware that when you change sourcing from gifts or endowments to 93 carryforwards, that you must also change the LC-SC-OB selected for the sourcing. This is another reminder to always select the dropdowns in order. 10. Departments are listed in the dropdowns on all templates from Existing Jobs through Sourcing ONLY if they have appointed employees. Additional departments will be available on applicable templates that show sourcing data - Source Approvals, Sourcing Status, Sourcing Detail. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 3

4 Budgeting and Planning Menu The first menu you will encounter will allow you to choose where you want to go you can start with Compensation Budgeting or go into Revenue & Expense. The menu will look something like this: Each respective button will give you the access to only the data and area which are available to you based on your security. For example, Medical School personnel will have access to the Medical School model or perhaps to PRB, but you will not be able to access anything in the Danforth Schools model. Please refer to the Table of Contents for the page number of the section which is relevant for you. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 4

5 Medical School Revenue & Expense Budgeting Menu When you click on the Medical School button, you will see the following menu: The buttons have a brief description of what each template offers and why you would use it. Not everyone will use all templates, and not all templates are available directly from this menu, but all templates are available to all users. Let s first review some of the background related to the Revenue & Expense model and its data. The Revenue & Expense model is broken out between General Operating and Specific Purpose data. General Operating refers to all Ledger 1 data EXCEPT FOR 93 and 94 carryforward funds. Specific Purpose primarily refers to all Ledger 2 data as well as 93 and 94 carryforward funds. Certain central area users will also budget a subset of funds in Ledgers 3, 4 and 5. See below for further detailed information about each template. The red process buttons on the right hand side of the screen are used for the following: 1. Import CB Data this is used to move all data from the Compensation Budgeting Model over to the Revenue & Expense templates. It allows you to see the full picture of your budget in one spot. The process will import whatever department is selected in the dropdown at the top of the page. Please note: this only needs to be used if you have updated compensation data during the day AND have clicked the Update Sourcing process button in the CB model. Remember that all of compensation budget data is moved over to revenue & expense overnight. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 5

6 2. Add Dept-Funds this is used to add new General Operating only accounts that are not available for data entry to the model. These can be brand new accounts that are not yet in AIS or they can be old accounts that are being used again. Please note: the department must be an existing department to use this feature. New departments need to be set up in AIS before the start of the budget cycle. 3. Lock Departments this will be used at the very end of the budgeting cycle once the departments have been completed, reviewed and approved. This will lock users out from being able to edit any budget data. In addition, you can access the real time reports from this page. The reports are accessed by the blue buttons along the right hand side. We will not discuss the details of the reports in this document. Budget Input General Operating The Budget Input template for General Operating is much like the Revenue & Expense model in the past. Net Results are at the top of the template, and then you have the Revenue (LC 11), then Expenses (LC 12) with Compensation first followed by Budgeted Transfers (LC.SC.OB , ). Revenue is brought in as a positive, which was requested by many users, so the Net Results formula is Revenue Expenses Budgeted Transfers. In general, a positive Net Results means a bottom line of income. The data is built in a tree structure so that you can expand any plus (+) signs next to a subtotal to see the detail and you can contract any dashes (-) to show only a subtotal. NEW The first items of note are the dropdowns, one of the features used throughout the model. The change you will note this year is that on both the Revenue & Expense Menu and here on the Budget Input - General Operating template, the first dropdown only has individual department numbers. The budget must be input at the lowest level, so this template has been changed to reflect that requirement. It also saves those with high levels of security from going in at a rollup that pulls too much data and slows down the opening of the template. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 6

7 In order to see data rolled up at a total department or area level you will need to go to the Budget Summary template. The departments listed will be filtered to include only those departments to which you have access. There is also a Find feature available to search for your department. If you click on the double down arrow next to the department number you will get a popup with all departments to which you have access. Click on the binoculars and you can search for a department using either the 4 or 6 digit versions or you can type in part of the department name as well. When you find the department click on it to highlight it in blue and then click on the OK. Once you have selected your department you can then click on the Select Dept-Fund dropdown to pick the fund associated with that department. By default the first fund under that department will be listed. Remember, you cannot see a rollup level of data on this template. You will have to select each fund individually to enter your budget. Once you ve made the selections to show the department and fund you are going to budget, the next item is one of the most important the refresh button. This button will be used to save, to refresh the data on the screen and to perform calculations. You will be clicking on this button OFTEN. When in doubt, start by clicking the refresh button! You re now ready to begin budgeting. The data on the screen should look familiar historic actual data, current year original budget, year-to-date actual, etc. If you want to change the columns shown in your view there are two other options in the dropdown that shows Med Default. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 7

8 Screen shots of the columns that will appear with each selection are shown below, although the All Fields option is wrapped so that you can actually read all of the column headers. PLEASE NOTE: The FY14 Actual will be updated when new data is loaded for other school areas. The initial load will be with September 30 data. The other loads will be in mid-december with November 30 data and in mid-january with December 31 data. In addition to the options of what columns to see, by default row suppression is on so that when you select your department and fund you will only see the rows where data exists. A row will be visible if there is a transaction in any of the time periods available. If you want to budget a ledger class, subclass, object that is not shown, simply click the check box next to Unsuppress Rows (shown below) and then click the Refresh button. All combinations that exist will then be visible. You can budget data where you want it and then turn the row suppression back on. PLEASE NOTE: having rows unsuppressed will slow down data entry, data save and dropdown selections. It is recommended that you turn the row suppression back on once you have put the budget in the new combination that you want to use. The last of the features on this template are the buttons at the top of the page: The black buttons are additional templates that we will discuss below in their own sections. But the red button is important for being able to pull your entire budget together. We briefly touched on this in the previous section. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 8

9 As you know, the compensation budgeting data is done in one portion of the model, but that data has to get over into the Revenue & Expense part of the model for a complete budget picture. In the past we have loaded this data from the Compensation Budgeting models over to Revenue & Expenses models either nightly or on an hourly basis. We now have the option of importing the compensation data ON DEMAND. When you click the button, the process will run to import the compensation data from whatever department is listed in the department dropdown. The process has been improved and takes just a few seconds to bring over all compensation data for the selected department. You will get a message when it is complete: Click on OK and you will be back in your Budget Input template. Make sure to click the Refresh button, as always, but you should already see your updated, current compensation data. As a reminder, the compensation data will be loaded automatically each night, so if there have been no updates in the Compensation Budgeting model, you do not need to import the data on demand. Allocation Detail Once you have entered your budget, you will need to input the allocation detail information. You access this template with the button on the Budget Input template. The allocation detail information is needed so that we can balance the allocations at the end of the budgeting process that is, make sure that the allocation you have budgeted has an equal and opposite budget amount in the offsetting department. The best part about the template for Allocation Detail is that you can enter the detail all at once for ALL of your department-funds instead of having to go into each one separately. No matter what department fund you have selected on the Budget Input template, you will be able to select whatever department-fund you need to enter on the Allocation Detail template. You ll see how on the screen shots below. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 9

10 This is the template you will see when you click the Allocation Detail button on the Budget Input template. This should look very familiar this format has not changed much over time. The Proposed Budget dollar amount will pull over from the Budget Input template, and the To Be Allocated will equal that same amount until you input the offsetting amounts. Those offsetting amounts will be summed up on the Total Allocated line and bring your To Be Allocated back to zero. First let s look at the dropdowns at the top of the page. The first one is for the department-fund in which you want to enter data. By default, the selected department-fund will be whatever you had selected on the Budget Input template. To change accounts just click on the double down arrows and you will get a popup of all accounts to which you have access. As with other dropdowns, click on the department-fund you want to use, then click on the OK button. Once you have the account you want to use, you have to select the Ledger Class Subclass Object that has the allocation amount which needs the offsetting detail. This is selected in the second dropdown box. When you have selected items that you have already budgeted, the Proposed Budget number from the Budget Input template will show at the top, and the amount with no detail will be in the To Be Allocated line. This is the amount that is currently out of balance. You will need to enter the amount for each department-fund with the opposite sign as the budget amount. As in the past, you will need to input a description of the allocation with the more detail the better. Then the OFFSETTING department and fund that means, who you have this allocation with? If there is no fund you can leave that cell empty. Please note the comments in the Dept and Fund column. Screen shots of the comments are below. Enter ONLY a 6-digit department and either a 5 or 6-digit fund. PLEASE NOTE: as requested by many users, the department number should now be the 6- digit number, which is consistent with how it is requested in most systems. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 10

11 Once you have entered your description, the department and fund, you need to put in the offsetting amount. This will be the OPPOSITE sign from what pulls over in the budget. When you have correctly allocated all dollars you should have a To Be Allocated line that equals zero. Budget Input Specific Purpose The Budget Input template for Specific Purpose is very similar to the General Operating template, as well as the SP Revenue & Expense models in the past. Net Results are at the top of the template, and then you RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 11

12 have the Revenue (LC 11, 21, 31, 41 or 51), then Expenses (LC 12, 22, 32, 42 or 52) with Compensation first. As with the General Operating section, revenue is brought in as a positive, which was requested by many users, so the Net Results formula is Revenue Expenses Budgeted Transfers. In general, a positive Net Results means a bottom line of income. The data is built in a tree structure so that you can expand any plus (+) signs next to a subtotal to see the data and you can contract any dashes (-) to show only a subtotal. NEW The major changes on this template are related to the dropdowns. The first dropdown change has already been noted on both the Revenue & Expense Menu and Budget Input General Operating template it now has individual department numbers instead of rollups. You further narrow your selection by picking the fund category in the second dropdown, which limits the department-funds listed in the third dropdown. The last dropdown is for function. Notice that function is only available for selection when you have chosen the aggregate in the department-fund selection. The budget must be input at the lowest level, so this template has been changed to reflect that requirement. It also saves those with high levels of security from going in at a rollup that pulls too much data and slows down the opening of the template. As with the General Operating template, this template defaults to show the account that fits the first selected item in each dropdown. All dropdown boxes must be selected to accurately choose the account to enter data. If you want to enter an aggregate for a fund category, you must also select a function. And DO NOT FORGET to click the refresh button after you have made your dropdown selections. This refreshes your screen and pulls in the correct data for the selected account. As a reminder: in order to see data rolled up at a total department or area level you will need to go to the Budget Summary template. The columns are a little different and we have one that we did not see in General Operating FY15 AIS Bud. Data entry is allowed in either the FY15 Bud, the FY15 AIS Bud or both. The main difference: only the data in the FY15 AIS Bud column will load into AIS. If there is any new money that you want budgeted in AIS RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 12

13 for 93 or 94 Specific Purpose funds, you MUST enter the data in the FY15 AIS Bud column. Note that we are only loading funds into AIS if the AIS Bud column is populated. The Allocation Detail and Import CB Data were described above so we will not go back over those items here. The Budget Summary detail will come in a later section. However, we do need to discuss the Function Detail button, which can be used to budget in the aggregate instead of individual funds. All Specific Purpose fund categories include the option to budget at the individual fund or aggregate level. If an individual fund is selected, data entered into the FY15 Budget column is automatically mapped to a function based on profiles within the fund. That is why the function dropdown shows Function Selection Not Applicable. If an aggregate is selected, all columns of data in the Budget Input - SP-Med template will include data from all funds within that fund category. This includes both individual and aggregate data. To budget at the aggregate level, select 3054-Aggr-Endow for example and you will see aggregated data in all columns. From here you can budget at the aggregate level in one of two ways: the first is to stay on the Budget Input SP-Med template. Select the function from the fourth dropdown at the top of the page and then enter the budget data in the FY15 Bud column. You will do this for each function related to that fund category aggregate that was selected. The second way is to click on the Function Detail button which pulls up a separate template. You will see all of the functions opened up for this fund category aggregate. Please Note: functions are the columns in this template and there is a menu for the period you want to view. Only FY15 Bud allows data entry while all other selections are read only. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 13

14 Margin Entries Margin entries have been reworked in FY15 and are available at the Medical School department level. Building and Equipment Depreciation data will be user input when available. Operating Margin equals Margin Results divided by Revenue. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 14

15 The dropdown for the department selections: Budget Summary The Budget Summary template is read-only, and serves as a report in the model. You can access this template from either of the Budget Input templates or from the main Revenue & Expense Menu. This template is what you will use to see rollup level details for a department, division, section, area at whatever level above department-fund that you need. The initial view will depend on the department and dropdown selections from whichever template button is clicked, but the highest rollup for the School of Medicine is below: RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 15

16 This view of the report rolls data up to the ledger class-subclass level. Since you see the plus sign next to each combination, you can always open them to reveal the data at the object level if you so choose. You can also use the additional dropdowns to change the view and get more specific information or detail related to the account you are reviewing. The first thing is to select the department that you want to see. The next two dropdowns will give you more detail. You can choose to look at just General Operating subclasses, just Specific Purpose subclasses or all data. For those who enter data in the Estimate column, you have the option to show or to hide this data from view. So an example of just Specific Purpose subclasses, including the Budget Summary and Estimate for all of the School of Medicine would look like this: RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 16

17 Exporting Data to Excel The data found on any template in the model can be exported to Excel. You start by selecting the export/download icon as shown below: Choose the Snapshot to Excel selection RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 17

18 You will get a screen like this. Do not make any department selections. Simply select the OK button. You will then get this screen which is the same screen you have seen in using other RAPS applications when downloading to Excel. Select Open. If you do not have this screen display, you may need to adjust your security setting in your Internet browser. Please see the RAPS website FAQs section for topics regarding Excel downloads for additional troubleshooting information or contact the RAPS Support Group. Note: Once your data is in Excel, you may want to cut it and paste it into a new workbook without formatting to get the unformatted data. You can do this by selecting Paste Special in Excel and choosing Unformatted Unicode Text. Sometimes the export will hide the rows so that only the Net Results line is visible. By unhiding the rows in Excel, all rows will display. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 18

19 RAPS Job Aid Budgeting Data Entry Shortcuts Command Description Action K Enters the value in thousands. Example: 5K Enters 5,000 M Enters the value in millions. Example: 10M Enters 10,000,000 Add, + Adds a number to the cell value. Example: Add50 Adds 50 from the cell value Subtract, Sub, ~ Subtracts a number from the cell value. Important: A minus sign (-) is not permitted for subtract because this indicates a negative number. Example: sub8 Subtracts 8 from the cell value Percent, per Multiplies the cell value by a number added as a percentage. Example: per5 Gives 5% of the original cell value Increase, Inc Decrease, Dec Increases the cell value by a number added as a percentage. Decreases the cell value by a number added as a percentage. Example: decrease6 Decreases the cell value by 6% Power, Pow Takes the cell value to the number added as an exponent. Example: Pow10 Raises the value to the power of 10 GR Grows cells by a percentage. Example: GR>150:10 Hold, Hol, H, HC Holds the cell value from breakback calculations. HC holds the consolidated level. Increases the value by 10 percent starting with a value of 150. Release, Rel, RH, RC RA Releases held cells. Release all held cells. RAPS Revenue & Expense Budgeting Model Overview September 2013 Page 19