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Financial Planning & Analysis

Earnings Budget Process


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Earnings Budget Process Overview

Financial Planning & Analysis requires electronic submission of budget materials. There are two options available for submitting budget materials. The first option is using PeopleSoft earnings budget panels. The second option is using the web-based spreadsheet templates. Only one option should be chosen by a college or support office.

PeopleSoft Panels

ASSIST pages on the use of PeopleSoft panels are available online. These pages are a valuable resource regarding use of the PeopleSoft earnings budgeting panels for those who expect to enter their budgets online and are new to the budget process or feel that they need a refresher.

Web-Based Template Generation

The web-based Release of Approved Budget Form spreadsheet template can be generated by College/VP level node or D-level node on the organization tree for all active earnings chartfield combinations. This selection is based on fund owner not the unit using the fund. This assures that all the information for a particular fund appears in only one spreadsheet template.

Note: If you have currently existing templates that produce Release of Approved Budget Forms, it is suggested that you use the Financial Planning & Analysis template by cutting and pasting the budget data into the template. Other alternatives will be evaluated on a case-by-case basis. Please contact your budget analyst for more information.

Process Step

PeopleSoft Panels

Templates

A. Review earnings budget guidance and Guidelines for Earnings Operations.

The Guidelines for Earnings Operations document is available here.

The Guidelines for Earnings Operations document is available here.

B. Determine chartfield combinations that need to be budgeted.

Run "RAB ChartFields Available" report in eReports [Financials -> Earnings Funds Budget Reports]

Download RAB Spreadsheet Templates from Financial Planning & Analysis’ website. Access requires an active OSU username ID and password.

C. Enter Budget Information, Step 1: Project FY 2013 actuals.

Use "Release of Appr Budget" panels to enter information [Budgets -> Earnings Funds Budget -> Prepare Earnings Fund Budget -> Release of Appr Budgets]. Enter values in Projected Actuals 2013 column, or use the Curr Yr Act to Projctd Act calculation feature.

Enter projected FY 2013 actuals into the FY 2013 Proj. Actual column on the RAB spreadsheet template.

D. Enter Budget Information, Step 2: Enter FY 2014 Proposed Budget.

Use "Release of Appr Budget" panels to enter information [Budgets -> Earnings Funds Budget -> Prepare Earnings Fund Budget -> Release of Appr Budgets]. Enter values in Projected Actuals 2013 column, or use the Projctd Act to Prop Bud calculation feature.

Enter proposed budget into the FY 2014 Budget column on the RAB spreadsheet template.

E. Enter Budget Information, Step 3: Enter FY 2014 Monthly Splits.

Use "Release of Appr Budget" panels to enter information [Budgets -> Earnings Funds Budget -> Prepare Earnings Fund Budget -> Release of Appr Budgets] -> RAB by Period tab

Enter values for each accounting period for each budgeted account.

Whole numbers must be used in each period and all periods must add to 100%. If you are unsure how to split an account, 8-8-9-8-8-9-8-8-9-8-8-9 is as close as you can get to splitting it evenly throughout the year.

Enter values for each accounting period in the Percentages columns for each budgeted account on the template.

Whole numbers must be used in each period and all periods must add to 100. If you are unsure how to split an account, 8-8-9-8-8-9-8-8-9-8-8-9 is as close as you can get to splitting a budget evenly throughout the year.

F. Update Customer Types.

Use “Customer Type(s)” panels to enter information.
[Budgets -> Earnings Funds Budget -> Prepare Earnings Fund Budget -> Customer Type(s)]

Download Fees and Charges template from Financial Planning & Analysis’ website. Complete the Primary Customer Types section of the template.

G. Update Fees & Charges.

Use “Rate Description” panels to enter information. [Budgets -> Earnings Funds Budget -> Prepare Earnings Fund Budget -> Rate Description]

Download Fees and Charges template from Financial Planning & Analysis’ website. Complete the description, amount and basis sections of the template.

H. Complete Operating & Cashflow Statement.

Use “Cashflow Adjustments” panels to enter information. [Budgets -> Earnings Funds Budget -> Prepare Earnings Fund Budget -> Rate Description]

Download and complete the Projected Annual Operating & Cash Flow Statement from Financial Planning & Analysis’ website.

I. Review Budgets.

Use the On-line Panels or run the Earnings Budget Reports in eReports to review budgets as entered.

Review completed spreadsheet templates.

J. Submit Budgets.

Using the "Earnings Freeze" panel, freeze the budget using the "FO Freeze" and "FO Submit" check boxes.

Submit the completed RAB Spreadsheet Template to Financial Planning & Analysis to this email. Financial Planning & Analysis will then load this information into the budget development tables. When this data is loaded, it will be frozen at the "FO Submit" level.

Budgets will then be reviewed by Financial Planning & Analysis analysts. Approved budgets are loaded to the Earnings ledger via a batch process. Budgets will be available on July reports.

The "RAB Maintenance" panels in PeopleSoft will be used for all earnings budget activity after the original budgets are loaded to the Earnings ledger, including earnings budget revisions and entering budgets for new earnings operations.

 

Earnings Budget Guidance

Required Information

The table below identifies the forms that are required based on the type of earnings operation.

Forms

Type of Earnings Operation

Release of Approved Budget

Customer Type

Fees and Charges

Projected Annual Operating and Cash Flow Statement

Departmental Earnings

X

X

X

 

Conferences

X

     

Service Operations

X

X

X

X1

Auxiliary Operations

X

X

X

X1

Cost of Sales

An online Cost of Sales Request form is available on Financial Planning & Analysis’ website. This form is completed on-line and your request is forwarded to Kristany Berger for review. Once a determination on your request has been made you will be notified. If a chartfield combination has previously been approved for Cost of Sales consideration, it is not necessary to re-submit this form. A complete listing of approved Cost of Sales chartfield combinations is available here. If your operation has approved Cost of Sales but does not appear on the approved list, please contact Kristany Berger.

1 Submission of separate form is not necessary as long as projected FY13 and proposed FY14 budget columns are both filled out. Units will also need to use the Cashflow Adjustment panels if necessary.