Institute of Technology Fiscal Year Budgeting Process
The Georgia Institute of Technology details its fiscal year budget process, including merging data, processing budget amendments, requesting new projects and positions, and entering budget information for revenue distribution. The process involves producing original budget schedules and initiating the budget amendment process with controlled fund transfers and balancing reports.
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Presentation Transcript
Georgia Institute of Technology Budgeting Options & Solutions for Universities georgia University System of Georgia summit
Fiscal Year Budget Process Budget Data Merge PeopleSoft data with Budget Data Modify budget data based on user input PeopleSoft General Ledger Finalize budget data PeopleSoft Systems Users review, accept/reject, create budget amendments. Budget Office staff review, balance and process budget amendments Budget amendment data posted to General Ledger Changes are made within PSoft systems such as hires, terminations, promotions, etc. This data is merged with Budget Data as a base for the budget amendment. Georgia Institute of Technology
Fiscal Year Budget Process Chart of accounts Requesting new projects (accounts) Requesting new positions Proposed salary information Academic vs. Administrative BUD707 Salary Worksheet Georgia Institute of Technology
[Demo] Georgia Institute of Technology
Fiscal Year Budget Process Enter budget information (includes distribution of funds) Personal Services Ga Tech: 60.2% (RI) Non-Personal Services Ga Tech: 39.8% (RI) Revenue Georgia Institute of Technology
[Demo] Georgia Institute of Technology
Fiscal Year Budget Process Producing Original Budget schedules Using schedules for online USG budgetary system submission: Sch C and C-1 - Revenue Sch D and D-1 - Expenditures Sch E - Personal Service FTE Georgia Institute of Technology
[Demo] Georgia Institute of Technology
Fiscal Year Budget Process Begin budget amendment process Controlled access Transfer of funds Balancing tools/reports Georgia Institute of Technology
[Demo] Georgia Institute of Technology
Future Efforts Forecasting Models oneBudgets On demand analytics On demand reporting (budgets and actuals) Enhanced budget development & maintenance Georgia Institute of Technology
[Demo] Georgia Institute of Technology
Questions Georgia Institute of Technology
