IFAS: Budgeting

The Budgeting module is a collection of flexible tools designed to help you create and analyze current and future year budgets. When developing budgets, current or prior-year budget and/or actual information is available for manipulation and set up of “what if” scenarios. The module is extremely functional; for example, in creating a budget, you can control the time period in which changes can be made on a budget-version-by-budget version basis. The module can also define individually budgeted items (equipment purchases, travel requirements, etc.) within a given General Ledger or Job Ledger account.

Budget Preparation and Modeling Features

  • Define up to ten named versions of a budget for each year.
  • Support annual, quarterly, monthly, and multi-year budgets.
  • Allocation controls at any user-defined levels.
  • Interactive budget checks are made at user-defined levels.
  • Run “what if” scenarios using complete budget modeling.
  • Track budgets by fiscal year or any user-defined time frame.
  • Print budget worksheets.
  • Adjust budgets by plus or minus amount, plus or minus percentage, or override values.
  • Budget preparation interfaced from Position Control and Grants Management for modeling.
  • Budget, expend and control at different levels.
  • Create trend analysis and straight-line projections from current and prior year actuals.
  • Forecast and project salaries.
  • Print final budget preparation document.
  • Support global budget increases or decreases by percentage.
  • Enter financial and statistical measures (gallons, hours, units).
  • Track and report all budget changes.
  • Download or upload to or from PC-based systems.
  • Utilize specialized balanced budget transfer and adjustment screens.
  • Optional interactive annual budgeting form.

Budget Item Detail Features

  • Handle all information updates interactively within the Budgeting module.
  • Provide automatic validation of General Ledger or Job Ledger chart of accounts.
  • Support annual or monthly budgeting within user-named budget versions at any defined level within the chart of accounts.
  • Define multiple year entries concurrently.
  • Updates to the General Ledger occur on a user-directed basis.
  • Maintain a chronological log of all Budgeting entries and/or changes.
  • Specify selection criteria for reporting in a “mix and match” fashion.
  • Utilize separate screens for travel, equipment, and miscellaneous items.
  • Copy/purge utility is user-defined.

Reporting

Access to information is straightforward and easy. Budgeting includes standard reports and immediate online inquiry to any data in IFAS. Security-protected reports can be run at the user’s networked computer or via the Internet from any Web browser.

Standard reports available include:

  • Benefits by Job
  • Position Number by Account Key
  • Position Changes Between Years
  • Position Number by Department
  • Salary Planning Worksheet
  • Salary Budgets by Position
  • Salaries & FTE by Account
  • Salary Projection
  • Salary-to-Actual