DRAFT
February 23, 2005
Business Process:
Budget Building and Loading for
Unrestricted Funds
Budget Building – DRAFT
6/28/2016
Business Process Description
Each campus is required to build annual budgets for Unrestricted Funds. These funds
include educational & general (fund 00), auxiliary enterprises (fund 03), and designated
(fund 10). This budget building may be accomplished with the assistance of a developed
report or can be developed using Journal Entries (on-line or EXCEL). The developed report
will display relevant Chartfields and 4 years of financial data. The report is laid out in the
format of an EXCEL Journal Entry such that it can be copied into an EXCEL Journal Entry
and edited and posted to PeopleSoft GL. This budget building process will apply to
Revenue Accounts and Non-Compensation Expense Accounts. For Funds 00, 03, 12, and
22, Compensation Accounts will be budgeted using Position Management which is
described in a separate Business Process. For all other funds, including Fund 10,
Compensation may be budgeted directly in the GL.
Key Assumptions
The reader is familiar with PeopleSoft GL Chartfields and their use.
The reader is familiar with Business Process “Journal Entry (Online) – Enter” and/or
“Journal Entry (Excel) – Enter/Copy.”
“Chartfield Combination” when used below refers to a combination of Business Unit,
Department, Fund, Program, Project, Operating Unit, Account, and Class. A unique
Chartfield Combination will have a different combination of the eight chartfields.
Report Layout
The following shows the layout of the developed report. Included are 2 years of historical
actuals, current year year-to-date actuals, current year base and current budgets, and next
year budget.
UNIVERSITY OF MAINE SYSTEM
FY2006 UNRESTRICTED E&G(00)/AUXILIARY ENTERPRISE(03)/DESIGNATED(10) BUDGET PREPARATION
FUTURE BUDGET FOR FISCAL YEAR 2006
SORTED BY BU, FUND, OPUNIT, DEPT, PROG, PROJECT, ACCOUNT, CLASS
BU
DEPT
DEPT
DESCR
FUND
PROG
DESCR
PROJ
OPUNIT
ACCOUNT
ACCOUNT
DESCR
CLASS
SCENARIO
OFT: 2/22/2005 C:\PeopleSoft\Financial Reporting\122-12Budget Building.xls
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FY2003
ANNUAL
ACTUAL
FY2004
ANNUAL
ACTUAL
FY2005
Y-T-D
ACTUAL
FY2005
BASE
BUDGET
FY2005
CURRENT
BUDGET
FY2006
FY2006
PROJECTED
PROJECTED
BUDGET VS FY05 BASE
Budget Building – DRAFT
6/28/2016
This is a report by Chartfield Combination for the unrestricted funds of educational &
general (fund 00), auxiliary enterprises (fund 03), and designated (fund 10). The report
shows revenue first and expense second. The report will be run for the next Fiscal Year.
The next Fiscal Year refers to year in which the Future Budget is being prepared. The Base
and Current Budgets displayed are for the previous Fiscal Year. Prior to preparing future
budgets for next year, Period 1 for the next fiscal year must be open.
The report should have the following options:
Run for a specified Fund or for all Unrestricted Funds.
Run for a specified Business Unit or for all Business Units.
Run for a specified node on the UMS_DEPT_ORG Tree or the UMS_DEPT_F Tree.
Run for a specified Operating Unit.
Run for a node on the UMS_ACCTROLLUP Tree.
The report should provide a subtotal when the DEPTID changes and should provide a total
for the Business Unit. For ease in reading, it might be better to run the report for the
REEVNUE node on the UMS_ACCTROLLUP tree separately from the EXPENSE node on
the UMS_ACCTROLLUP tree.
Security Requirements
Each Business Unit should be able to run this report only for their Business Unit.
Future Budgets in PeopleSoft General Ledger
1.
In PeopleSoft, there are three ledgers for budgets, BASEBUD, BUDGET, and
FUTBUD. These budget ledgers are stored in the LEDGER_BUDG table.
2.
The FUTBUD Ledger has associated with it Scenarios. There are three Scenarios
currently defined. A Business Unit can use these Scenarios for modeling the next
year’s budget.
a.
BLANK that represents the final Scenario that will be moved to the BASEBUD
and BUDGET ledgers. BLANK refers to “ “ and not the word “BLANK”.
b.
1 (description = Scenario 1)
c.
2 (description = Scenario 2)
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Budget Building – DRAFT
6/28/2016
3.
The FUTBUD with a Scenario of BLANK will later be transferred to the BASEBUD and
BUDGET ledgers using an Allocation process.
4.
Budget journal entries for Salaries, Wages and Benefits Accounts in Funds 00, 03, 12,
and 22 will be generated from the Position Management system. Compensation
budget entries for these funds should not be entered directly to the General Ledger.
Scenarios provide a way to do budget modeling. The final future budget must be created in
the FUTBUD ledger with a Scenario of BLANK. It might be advisable to avoid the use of
Scenarios for FY2006 until there is a better understanding of how they can be used.
Journal Entries for Future Budgets in PeopleSoft
General Ledger
1.
Journal entries are used to update the General Ledger for budgets. The Ledger Group
entered on the Journal Entry Header Page will determine which budget is updated.
Use the FUTBUD ledger group on the journal entry header to update Future Budgets.
2.
For Journal Entries to create FY2006 future budgets, use a Journal Date of
07/01/2005 to direct the future budget entries to the Period 1 of FY2006.
3.
Using the developed Budget Building Report, the report can be downloaded into a
spreadsheet, future budget figures can be entered into the FY2006 Projected Budget
column, and the appropriate columns and rows can be copied into an EXCEL Journal
Entry Template for processing into PeopleSoft. The EXCEL Journal Template must be
prepared for receiving the copied information by inserting enough blank rows to
receive the data. Also, when copying to an EXCEL Journal Template, delete any
extraneous information such as subtotals and historical columns.
4.
Once the FUTBUD has been updated, the Budget Building Report can be run again,
and the entered FUTBUD figures will display on the report.
5.
When making changes to FUTBUD, journal entries are processed that either add to or
subtract from the figures that are already in place. There is no facility to replace
figures with revised figures. If an entire posted batch is found to be incorrect, then the
batch can be unposted.
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