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Redesign Status Flashback

Curiosity got the better of me... comparing where we were a year ago to where we are today.  Wow!  A big shout-out to everyone involved in the amazing progress.. you all deserve a huge pat on the back!  Thank you!!

Budgeting Changes

Budgeting in the Redesign is very versatile with options available in both Core>Accounts and the Budgeting menu. Most of you have established your temporary figures for FY2021 whether you applied them via a Budget Scenario last fiscal year or this year.  But now what?  Do you need to change your temporaries to permanent amounts if you don't have any changes?  And what if you do have changes to make... how do you go about making them?  Let's first explain the APPLY options under the Proposed Amounts grid and then tackle some frequently asked questions.

Temporary Amounts

When you apply temporaries via the Proposed Amounts grid, the 'temporary' transaction type (image below) is selected.  The amounts applied will become the initial budgets for the fiscal year specified.  The Update the GAAP Original Estimate amounts is checked by default meaning the current expendable/receivable amount [Initial amounts + (CO Enc) +/- Adjustments] will be applied to your GAAP Original Estimate figures.  If you do not want your GAAP amounts updated, uncheck the box.  The effective date defaults to July 1st indicating the temporary figures are as of the beginning of the fiscal year.. you cannot change the date.  Full Year is checked by default indicating the temporary amounts hold true for the entire year.  If the temporary figures may change during the year, you have the option of unchecking the full year box before applying.  

Temporary Amount FAQs

• How can I tell if my initial figures are temporary?

  • The report definition Budget Transactions – Initial Estimates (found in the Public Shared USAS-R Report Library) displays changes made to expenditure accounts initial estimates and the Revenue Transactions - Initial Estimates displays changes made to revenue accounts initial estimates.  Here is an image of the Budget report displaying changes made after temporary amounts have been applied.  The type is called 'TempInitial' and (GAAPInitial if updating the GAAP amounts).  If the full year is checked, it's indicated on the report. 

• After proposed amounts are applied, why do they remain in the proposed amounts grid? Is there an advantage to leaving them in there?
  • We call the proposed amounts grid the 'working area' where you can add, delete or edit proposed amounts.  Once the amounts have been applied, you have the option of removing them easily by checking the top box on the grid (to select all) and click Delete.  This will basically wipe out the grid.  However, if you choose to leave the proposed amounts in the grid, it may be helpful in circumstances where you need to make changes and apply them as permanent figures or adjustments later in the year.

Permanent Amounts

When applying permanent amounts, the 'permanent' transaction type (image below) is selected.  If you have existing temporary amounts, they will be overwritten with the applied permanent amounts.  The Update the GAAP Original Estimate amounts is checked by default and cannot be changed, enforcing the current expendable/receivable amount will be applied to your GAAP Original Estimate figures.  The effective date and Full Year enforce the permanent figures as of the beginning of FY2021 and hold true for the entire year.

Permanent Amount FAQs

• How can I tell if my initial budget figures went from temporary to permanent?
  • The report definition Budget Transactions – Initial Estimates (found in the Public Shared USAS-R Report Library) displays changes made to expenditure accounts initial estimates and the Revenue Transactions - Initial Estimates displays changes made to revenue accounts initial estimates.  Here is an image of the Budget report displaying changes made after permanent amounts have been applied to temporary figures.  The type is called 'Initial' and (GAAPInitial if updating the GAAP amounts). You will also notice the 'replaced' box on the temporary amount (TempInitial) is checked indicating the temporary amount has been replaced with a permanent (Initial) figure.

• I posted my permanents and realized some of them are incorrect.  I have a handful to change. How do I handle this?
  • If the accounts are still in your proposed amounts grid, make the necessary changes in the grid and re-apply as permanents.  
• I received a new grant this month and created the associated expenditure accounts?  How do I enter my budgeted amounts?  
  • You can use the ' Budget Adjustments' option in the expenditure account (Core>Accounts) to post adjustments in order for the amounts to be reflected in a specific (open) period. 
• My temporaries were approved and no changes needed.  Do I need to make them permanent on the system?
  • That's your choice if you want them marked as permanent (initial) type in the system.  The initial amount will not change on the account.  However, when viewing budget transactions or running the SSDT Budget Transaction or Public Library Budget Transactions reports, the different types of budget transactions will be displayed for each account.  If you would prefer the temporary amounts (tempinitial types) to show as permanent (initial types), promote the scenario used for the temporary amounts and apply them using the permanent transaction type.  Your amounts will remain the same but a permanent budget transaction has been posted against it.  As for your GAAP amounts, if you set your GAAP Original amounts during your temporary posting, when applying permanents, the GAAP 'original budget' remains unchanged, however, the GAAP 'revised budget' amount reflects the permanent figure on the GAAP Extract.
• I would like to apply my proposed amounts as permanent.  However, I've already made some Adjustments for specific accounts.  Will my adjustments (additions/deduction amounts) be overwritten?
  • No, any +/- adjustments made to the expenditure account will not be affected.  For example, if my temporary figure is $1000 and I've made a positive adjustment of $500, if I now post a permanent amount for $2000, my expendable figure will be $2500 (new initial figure of $2000 + $500 positive adjustment).

Adjustments

When applying adjustments during the fiscal year, the 'adjustment' transaction type (image below) is selected.  Adjustments will not update the initial figures.  Instead, the newly updated  FYTD expendable/receivable amount is handled via additions/deductions made to the account.  The Update the GAAP Original Estimate amounts is unchecked by default.  If the GAAP amounts should be overwritten on the accounts with the new expendable/receivable amount, check the box.  On the GAAP Extract, the GAAP 'original budget' will stay intact but the newly updated amount from the adjustment will be recorded on the 'revised budget' amount on the extract.  The effective date must be manually entered so the adjustment amounts are recorded for that time period.

Adjustments FAQs

• What's the difference between applying an adjustment in Proposed Amounts and creating an adjustment on an expenditure account?
  • It's just a matter of convenience.  If you have several adjustments to make, creating a Scenario (or using an existing Scenario) may provide an easier way to create mass adjustments.  If you have a few accounts to update, creating Budget Adjustments under Core>Accounts may be more convenient.
• If I update the GAAP Original Estimate amount when applying an adjustment, does that change the GAAP original amount on the GAAP Extract?  
  • No, the GAAP original budget will remain the same however, the GAAP revised budget will reflect the adjusted amount.