Summary

The Edit New Year Budgets process is used to manually edit the requested, proposed, approved and adopted budget amounts on GL accounts of the next fiscal year (for example, if you are in fiscal year 2022, this process is used to modify the budgets on GL accounts in fiscal year 2023). You cannot modify the budget of the current fiscal year using this process. If you would like to make an adjustment to the current fiscal year budget, create a budget adjustment in GL> Budget Adjustments.

In order to use this process, the chart of accounts for the next fiscal year must already be set up using the Create New Fiscal Year tool (GL> Utilities> Create New Fiscal Year).

You can only modify the budgeted amounts on GL accounts that are set up as budgetable. GL accounts are set up as budgetable using the Chart of Accounts Maintenance window (GL> Maintenance> Chart of Accounts> General tab> Account is Budgetable toggle). 

If you would like to copy the budget amounts from one budget type to another (for example, copy the approved budget amounts to the adopted budget), use the Copy Budget Information process (GL> New Budget Information> Copy Budget Information). When you run the Fiscal Year End Reset process (GL> Utilities> Fiscal Year End Reset) and move to the new fiscal year, the budget amount in the adopted column will become the budget of the current fiscal year. This is the amount that will display in the Budget column on the Chart of Accounts Maintenance window (GL> Maintenance> Chart of Accounts> Budget tab).

Step by Step

1     View the budgeted amounts.

• Open the New Year Budget window (GL> New Budget Information> Edit New Year Budgets).
• The New Year Budget window will display the budget amounts of the next fiscal year. If the chart of accounts has not been created for the next fiscal year no information will display in the window.
  • The requested, proposed, approved, and adopted budget amounts will all display in the window.
  • The adopted budget amount will become the current budget when the Fiscal Year End Reset process (GL> Utilities> Fiscal Year End Reset) is run.
  • The FTE column displays the full-time equivalencies amount.
• If the window is empty, the next fiscal year has not been created (GL> Utilities> Create New Fiscal Year), none of the GL accounts in that fiscal year are set up as budgetable or you have changed your current fiscal year to the future fiscal year (SS> Utilities> Setup> Organization tab> Fiscal Year field).
  • The window will display the budgetable GL accounts in the future fiscal year. If the chart of accounts in the next fiscal year has not been created, no GL accounts will display in the window. For example, if you are in fiscal year 2022 but the 2023 chart of accounts has not been created, no GL accounts will display in the window.
  • Only GL accounts that are set up as budgetable will display in the window.
    • If you do not see a GL account that should be in the window, open the GL account and make sure the Account is budgetable toggle is checked (GL> Maintenance> Chart of Accounts>  General tab> Account is budgetable toggle).
  • The current fiscal year can be set using the System Setup window (SS> Utilities> Setup> Organization> Fiscal Year field). If the fiscal year was changed to a future fiscal year, the window will probably not display any GL accounts.

2     Edit a budget amount.

• The Account field is used to filter the GL accounts that display in the window.
  • Click the Account field search button   to select a specific GL account from a list. This will filter the window to include a single GL account.
  • Make sure you search for the GL account in the correct fiscal year. For example, if you are in fiscal year 2022, you should be searching for a GL account in fiscal year 2023.  This is important if the GL account does not exist in 2023 or if the account exists in 2022 but not 2023.
  • Enter part of a GL account number to filter the GL accounts in the window by a specific fund or GL account number section. For example, enter 03-05-000 to include all GL accounts with fund 3 and department 5 in the window. GL account numbers that occur after the GL account number entered in this field will also display in the window.
• Check the toggles of the budgets you would like to modify in the Edit Columns field. This will enable the rows below the selected budget amount so that you can modify the budget amounts.
• The New Year Budget Maintenance window can also be used to increase or decrease the budget amounts by a percentage. All of the budget amounts selected in the Edit Columns field will be affected by the percentage change and the percentage change will be applied to all of the GL accounts that display in the window. If a GL account does not display in the window the budget amount will not be affected by the change in percentage.
  • Enter the percentage of the original amount that should be used for the budget amount in the field next to the Generate icon at the top of the window. For example, if you would like to increase the budget amounts by 25%, enter 125%. If you would like to decrease the budget amounts by 5%, enter 95% in the field.
  • Make sure the budgets selected in the Edit Columns field should be edited and click the Generate icon   to apply the percentage change. For example, if only the adopted budget should be increased by 3%, enter 103% in the field next to the Generate icon and check the Adopted toggle in the Edit Columns field. If the approved toggle is checked that budget will be also be affected.
• Click the Save icon to save the budget amount changes.
  • The modifications will not be saved until the Save icon has been clicked, so you can exit the window to revert the budget amounts back to the last they were saved.