Specific Purpose Revenue and Expense Model Training Guide

Transcription

1 Specific Purpose Revenue and Expense Model Training Guide 2011 Washington University in St. Louis All rights reserved For RAPS Support, send an message to or call Specific Purpose Revenue and Expense Model Training Guide - Version 02/10/11 K:\RAPS\Documentation Source\CMJ\Manuals\Specific Purpose Revenue and Expense Model Training Guide.docx

2 This page is intentionally left blank. 2 Specific Purpose Revenue and Expense Model Training Guide

3 RAPS Specific Purpose Model Training The purpose of this training guide is to show you how to use the Specific Purpose Revenue and Expense model. Your Specific Purpose and General Operating applications are located in the same folder in the Production environment. Please note that data from Compensation Budgeting feeds both the General Operating and Specific Purpose models. We ll do a quick review of that process later in this guide. General Information If you have questions after reading this training guide, please don t hesitate to call , or send an message to our helpdesk at raps@wustl.edu. We ll go through the following topics in this guide: First, we ll go over the matrix that provides logic for the model. Second, we ll go over how we applied the matrix in the model to the organization structure. Third, we ll go over important features in the model. For example, budgeting aggregate fund categories is a new, important feature that we d like to show you in detail. Fourth, we ll create a year-end estimate, FY12 budget, and out-year projections in an individual department-fund. Fifth, we ll create a year-end estimate, FY12 budget, and out-year projections in an aggregate node. Sixth, we ll go over how to view your results in the model. Lastly, we ll do a quick overview of available reports. Specific Purpose Revenue and Expense Model Training Guide 3

4 The Matrix: First, let s go over columns A and B in the matrix - these are groups of funds we ve included in the Specific Purpose model. In order to be consistent with the Medical School, we have included all carryforward funds in Specific Purpose this includes 93 and 94 funds. Please note that these funds were in the General Operating model last year. All Government or Private grants and contracts are grouped, based on Core Report logic. Endowed funds are separated into two distinct groups, namely Endowed Scholarships and non-scholarships. The endowed funds included in the model are only the ones you would normally consider as part of your operating budget. Gift funds are also separated into two distinct groups Gift Scholarships and nonscholarships. As with the endowed funds, we included only funds that would normally be considered as part of an operating budget. Column C describes the titles of fund categories in the model; we ll see how that works once we open the model. Column D is the just the ledger associated with the fund group. Column E lets us know whether we can budget the fund group at the individual fund level or in the aggregate. Column F lets us know that it s possible to send Original Budget data to FIS, assuming the individual fund is budgeted. 4 Specific Purpose Revenue and Expense Model Training Guide

5 The Real World: First, let s look at a real model, and review the organization structure. Looking at the Business School, we see the list of departments: If we open Dept 1215, we find that we have a roll-up for aggregates, 94 funds, and Endowed non-scholarships. That means there is at least one 94 fund and at least one endowed non-scholarship fund with historic data from FY09, FY10, or FY11 YTD Actual results. All departments with any individual fund data will have an aggregate node. If we open Dept 1217, we see there s only an aggregate node. That means there must be historic Government, Private or Scholarship data. Remember, these fund categories are budgeted in the aggregate ONLY. If we look at Engineering, we see a similar structure but with more layers. That is, Engineering Central > goes to Deans Admin > and the departments underneath. Specific Purpose Revenue and Expense Model Training Guide 5

6 The Training Model: Let s go to the training model so we can review data and prepare a budget. The first thing to notice is that underneath each department, we have certain fund categories available at the individual level. So, if you glance at the matrix under column E, we have 93, 94, Endowed non-scholarships, and gift non-scholarships. You can budget all these individually if you choose. The other fund categories are included within the Aggregate node again, this is a new concept. Let s open You may remember from General Operating training that we recommend you re-set the view upon opening the node. Go to View> Reset Views > Reset both Tabs and Grids. 6 Specific Purpose Revenue and Expense Model Training Guide

7 We re in the Budget Input tab; notice the resulting default view. This may not be the view you want, so we can click and drag Categories under Context to the columns section. Now, we have all categories available for data entry. Another thing I d like to point out under context is that the rectangle with Fund Categories matches the type of fund on which we re currently working. This will have more significance in the aggregate node. Now, let s go to the History tab. Specific Purpose Revenue and Expense Model Training Guide 7

8 Here, we will click and drag History Categories to the columns section. Notice that we have history for FY09, FY10, and FY11 YTD actuals. All of our models have been loaded with six months of YTD results, i.e., through December The Allocation Detail tab works in the same way as it does in the General Operating models. Allocations that need to be addressed are: LC12 Subclasses 18 and 19 LC and 9104 Let s go back to the Budget Input tab and enter some data. 8 Specific Purpose Revenue and Expense Model Training Guide

9 First, let s drag the History tab to the right of the Budget Input tab. This way, we can see our history when preparing the estimate, budget, and out-year projections. The first thing we ll do is prepare a year-end estimate by copying the FY11 YTD actuals, and we ll assume that all we need to do is multiply by two, because the actuals represent six months of data. We enter *2 (times 2 pipe) in the first open cell within that column. Pipe, you may remember, is the copy down operation. Specific Purpose Revenue and Expense Model Training Guide 9

10 Next, we ll copy and paste the FY11 Estimate into the FY12 Budget column. The FY12 Budget represents how much income and expense we plan to have in FY12. Let s zero suppress to see our net results more clearly. Notice, even though we copied and pasted, net results are not the same. Why is that? It is because compensation data for FY12 originates from the Compensation Budgeting model. Let s quickly review the Compensation Budgeting to General Operating and Specific Purpose Integration diagram. 10 Specific Purpose Revenue and Expense Model Training Guide

11 All compensation sourced to an existing general operating department or specific purpose fund will transfer to the associated department fund in the appropriate model. Data will be shown at the subclass object 00 in both models. Objects in CB will be collapsed to zero-zero in R&E. If compensation is left unsourced in CB, it will flow to the corresponding department and default fund in the General Operating model. Compensation data sourced to aggregate fund categories, such as Government grants, will be sent to the aggregate node in Specific Purpose; we ll show how that works in more detail later in this guide. Going back to the Budget Input tab let s unsuppress zeros, so we can see the same accounts on both tabs. Specific Purpose Revenue and Expense Model Training Guide 11

12 We ll copy and paste the FY12 Budget into both FY13 and FY14 Projections; we can paste into both columns with one operation. Next, we want to increase the FY13 Projections by 2%. We enter *1.02 (times 1.02 pipe) in the first open cell within that column. 12 Specific Purpose Revenue and Expense Model Training Guide

13 We want to increase FY14 Projections by 4%. We enter *1.04. The results: Specific Purpose Revenue and Expense Model Training Guide 13

14 The next column of data includes the FY12 AIS Bud. If you want to increase your carryforward budget for FY12 in FIS, you ll need to enter data in this column. An example may be that a faculty member received an additional multi-year award. We will enter 500K in SC 87. Again, this indicates that you want to increase the carryforward budget by $500,000. We re finished with 94 funds, so we ll save, and move on to the aggregate node. Let s open an aggregate node. Let s reset tabs and grids. 14 Specific Purpose Revenue and Expense Model Training Guide

15 Specific Purpose Revenue and Expense Model Training Guide 15

16 Notice Fund Categories under Context. The drop-down menu offers the list of categories we defined in our matrix. You may wonder why all categories are available for budgeting in the aggregate. The answer is that we want to offer users flexibility, so we made it possible to budget in detail or in aggregate. 93, 94, non-scholarship endowed, and gift funds can be budgeted individually OR in the aggregate. Government, Private, scholarship endowed, and gift funds can be budgeted in the aggregate ONLY. Let s work on Government grants in the aggregate. The first thing we ll do is choose Govt from the drop-down menu. Notice how the list of LC-SCOB s changed with that selection. 16 Specific Purpose Revenue and Expense Model Training Guide

17 Government grants are ledger two only, so we see ledger two accounts. This filter works with all fund categories. We will drag Budgeting categories in the columns sections, so we can see them all on the same screen. Let s drag the History tab to the right of the Budget Input tab. Specific Purpose Revenue and Expense Model Training Guide 17

18 Next, we will move History Categories to the columns sections. Historic data includes actual results only. Please note that historic data in the aggregate Government fund category includes data from all funds, as shown in the matrix. Our logic is actually based on fund codes in column B of the Matrix. But, most of us are familiar with the current list of two digit fund numbers. Again, we ll copy the FY11 YTD results into the FY11 Estimate column. We enter *2, and we re finished with the estimate. 18 Specific Purpose Revenue and Expense Model Training Guide

19 Next, we ll copy the estimate into the FY12 Budget column, and again, if we scroll to our net results, we ll see they are different, even though we copied the entire column. Compensation data originates from the Compensation budgeting model, but at the aggregate for Government funds, as defined in the matrix. Let s again copy the FY12 Budget column and paste it into the FY13 and FY14 Projections columns with one operation. Let s increase FY13 results by 3%. We enter *1.03 Then, let s increase FY14 results by 5%. We enter *1.05. We are finished with data entry, so we ll save our results. Specific Purpose Revenue and Expense Model Training Guide 19

20 Please remember that you can enter comments in free form text in the last column, or you can attach documents to individual cells, tabs, or the model. 20 Specific Purpose Revenue and Expense Model Training Guide

21 Note that there is no FY12 AIS Bud column in the aggregate node, because data can t be entered in the aggregate in FIS. The next item on the agenda is how to use the model itself to review your budget. Let s assume you re at a point where you want see where you stand financially in all categories. First, we ll go over how to review all budgeting categories at the Department level. Let s go to Contributor, and click on the Department where we worked on developing our budgets. Notice there are two boxes or areas where you can go to open nodes. The Department (All) in the Which is made up of: section will give you the option of reviewing all roll-ups underneath. For example, you d be able to choose Department 93xxx, Department 94xxx, and so on. The You are a reviewer for: section contains an individual summary node that contains the same summary data. We ll want to open this node to view total results for our department. Remember, that at this level, the node is read only. The advantage of opening this node is speed. Opening an individual node is faster than opening a summary node with roll-ups. We ll review Budget Input and History in some detail. The first thing we ll do is reset tabs and grids. We ll develop our final view using this as a starting point. Beginning in the Budget Input tab under Context, notice three rectangles with dropdown menus. The first includes budgeting categories, the second includes all our fund categories, and the final rectangle shows all roll-ups available for review. Because we re at a summary node, we only have one option. Specific Purpose Revenue and Expense Model Training Guide 21

22 Now, because we didn t enter any data in 93 funds, all rows are zero. Next, we will drag budgeting categories into columns. Notice that all 93 budgeting categories are zero. Now, we will choose 94 funds, and we should see data. Notice that because 94 funds are ledger one, we only see ledger one accounts. If we choose Government grants, we ll see ledger two accounts. 22 Specific Purpose Revenue and Expense Model Training Guide

23 Now, we will drag fund categories above budgeting categories. Notice that when we scroll to the right, we have all fund categories with all budgeting categories. When we scroll vertically, we have both ledger one and ledger two accounts. At this point, you may want to zero suppress rows AND, because we have a lot of zero columns, let s zero suppress columns also. This gives us a more manageable view of data. Specific Purpose Revenue and Expense Model Training Guide 23

24 Let s do one more thing, and choose the list view for fund categories, so that our summary is to the right. If you remember, we decided that we wanted to increase our 94 fund carryforward budget in FIS; we can see that here. 24 Specific Purpose Revenue and Expense Model Training Guide

25 Now, let s assume we just want a summary view with revenue, expense and net results. We will click the squares to the left of Revenue and Expense, and we have our results. We ve now decided that we want to make changes, but don t want to lose these results, so we ll do a quick export to Excel via File>Export>Quick Export. Specific Purpose Revenue and Expense Model Training Guide 25

26 Notice how Excel maintains the summary view. Now, let s create a custom view in the History tab. In the history tab, we will drag History categories and Fund categories directly into the columns section. 26 Specific Purpose Revenue and Expense Model Training Guide

27 If you prefer to see the Historic year with all fund categories underneath, just drag the historic category rectangle above fund categories for another view. If we drag the Budget Input tab to the right, we can see both history and budget input on one screen although we have to do some scrolling to see all columns. You can select many different permutations of data within the model. If we go back to the contributor screen in the real model, I d like to point out that in our example, we reviewed data at the Department level, but we could review the entire School of Business or School of Engineering, or any other schools. Specific Purpose Revenue and Expense Model Training Guide 27

28 Please remember to save your budgeting results if you want to see them in summary review, or on reports. Once you save data in the model, it will be reflected in the datamart every hour on the hour. Data from all models is updated every hour on the hour between 7 AM and 9 PM. Please note that it does take minutes to publish your saved data to the datamart. You may want to check status of your saved data in the datamart by running the SP Last Update by Node report in the Revenue & Expense Budgeting Reports section > under Integrity Reports. Also, remember that submitting data is optional and dependent on guidance from your central office. The last topic we ll cover in this guide includes reports. Because we ve added Specific Purpose data, the Departmental Budget Analysis Report and the NY Budget Submission reports have had to include additional fields to handle the new data. Let s go to Production and review the prompt pages in both reports, which are both available in Revenue & Expense Budgeting Reports > Financial Reports. 28 Specific Purpose Revenue and Expense Model Training Guide

29 We ll review the Departmental Budget Report first. Our RAPS programmers have worked hard to speed up the first prompt page, so it shouldn t take more than 15 seconds to display. We have our standard organization options, where we ll choose Department Notice that wherever you have the orange underline, you need to make a selection. Then, we choose FY12 and December. The next option under Account Selection Options is a new drop-down menu, and includes General Operating, Specific Purpose, and Both. Specific Purpose Revenue and Expense Model Training Guide 29

30 We will choose Specific Purpose, and move on to Additional Options. The first set of options asks us which columns of data we want displayed; we will go with the default. The next report option allows us to either have data subtotaled or the report will ignore the subtotaling selections and give us a list. We ll go with the default. Now, we must answer the question: How do we want data sorted and subtotaled? Notice that each menu has the same list of selections; we ll leave the default as Department number, then choose Fund Category. 30 Specific Purpose Revenue and Expense Model Training Guide

31 Fund Category is a new field in this report, and is defined in the matrix. Next, we ll want the fund, and finally the subclass. Then, we could run the report, and it would look like this we have all the columns we selected including Department number, Fund category, Fund number, B, Subclass title, and all the columns of actual and budgeted results. It may not be immediately obvious what you need to choose to get the report you want. If you ve ever ordered anything over the Internet, you ve had to make selections, look at the results, and then go back and make changes. So, using these reports may not be as fun as shopping over the Internet, but it is similar nevertheless. Specific Purpose Revenue and Expense Model Training Guide 31

32 If you run a report, and decide you d prefer a different view, you don t need to start at the beginning, but instead, hit the run button above the top of your report. The run button looks like a solid arrow pointing to the right. The other report we will cover is the NY Budget Submission Analysis Report. This is the report that will differentiate between the yearly budget versus the FY12 FIS Carryforward for 94 funds. Again, we ll select Department Fiscal Year 12 Specific Purpose Then, we will go to additional options. We ll leave the default column selections We ll change the subtotal for department number to No. 32 Specific Purpose Revenue and Expense Model Training Guide

33 We ll change the third sorting option to Fund Category. And the next sorting option to Fund. Then, we run the report. Specific Purpose Revenue and Expense Model Training Guide 33

34 Let s take a look at the first page of results We have Department number, Fund Category, Fund, Subclass Title, and all the columns of actual and budgeted results. Recap To recap everything we ve covered in this training session: We went over the matrix that provides logic for the model. We applied the matrix in the model to the organization structure. We went over the aggregate concept in the model. We created a year-end estimate, FY12 budget, and out-year projections in an individual department-fund. We created a year-end estimate, FY12 budget, and out-year projections in an aggregate node. We went over how to view results in the model. And finally, we had a quick overview of available reports. 34 Specific Purpose Revenue and Expense Model Training Guide

35 Frequently Asked Questions Let s look at a few frequently-asked questions. If you can budget 94 funds individually and in the aggregate, how would that work? That s a little tricky remember that Compensation data from the Comp Bud model will go directly to individual funds if they exist in the SP model. So, you ll have Compensation data in the individual funds, but you could choose to budget non-comp expenses in the aggregate. You d have to get pretty sophisticated in understanding different roll-ups and views in the model, but it can certainly be done. Starting out, we recommend that you budget 94 funds individually. Why was there an Allocation Detail tab in aggregate? We worked in the training application, and it should not have been there. You should not see the Allocation Detail tab in your production models in aggregate nodes. How will Specific Purpose data get to the Core Report? If real funds are budgeted in the model, then that data will go directly to the real fund in Hyperion. If funds are budgeted in the aggregate, data will be transferred to the fund category at the school level, or in some cases at lower organization levels. Sam Fox, for example, will have Specific Purpose data included at lower levels, meaning: Art Architecture Administration Kemper Museum That wraps it up! Specific Purpose Revenue and Expense Model Training Guide 35