How to Budget Core Recurring Funds on Form 4.2


Overview


  • In the Oracle Planning and Budgeting Tool, also known as Enterprise Planning and Budgeting Cloud Service (EPBCS), budget preparers use Task List 4 to budget non-compensation expenses for Core Funds  
  • To plan the Core Recurring Budget, formerly known as the Permanent Budget, updates are made on Form 4.2 Review and Realign Core Recurring Budget 
  • Form 4.2 is populated with two years' worth of historical budget and actuals data for reference.  
  • Form 4.2 will also display any Staff & Faculty compensation budget data completed in Task Lists 1 and 2.
  • For more information and other Frequently Asked Questions, see KB0033152 FAQ: Preparing a Budget in Oracle Planning and Budgeting

Critical Concepts


  • The following steps assume budget preparer has user access to Oracle Planning and Budgeting Tool and is logged in
  • Form 4.2 is limited to allow budget entry on only Core Funds as grouped in the Alternate Fund Hierarchy 
  • Contract & Grant funds, Gift Funds or Other Unrestricted Funds will not display in Form 4.2
  • Form 4.2 provides a Target Budget column as a guideline for users to ensure they are budgeting within the current planning year’s Core Recurring budget  
  • For example, the FY23 Target Budget is calculated as: FY22 Final Base Budget + Actual FY22 Compensation Increase Adjustments + FY22 Recurring Commitments + FY23 Program Increase Assumptions 
  • Use the Direct Input column to enter non-compensation expense budget amounts 
  • Use the Total Plan column to then compare the budgeted expenses against the Target Budget 
  • For more information on the Core Recurring budget and how Core Allocations are made, see KB0032664 Core Recurring Budget & Allocations from CBO 
  • The steps below show an example on how to enter budget figures on Form 4.2 for Accounts already displayed and how to add Accounts that may be missing

Steps to Take


Entering budget figures on account codes already displayed on Form 4.2 

1. From the Oracle Planning and Budgeting Tool home page, click on Tasks 


2. Navigate to Task List 4 Review and Manage Core Fund Budgets, expand the triangle to display Task 4.2 Review and Realign Core Recurring Budget, click to load the form

 

3. In Form 4.2 Review and Realign Core Recurring Budget, update the Point of View (POV), for the desired budget, by selecting the EFinUnit, Fund, and Function.


4. Once selections have been updated and highlighted in yellow, click the Arrow icon, to save and continue, otherwise your selections will not be saved 


5. In the Direct Input column where white cells are displayed, enter budget figures on any Account number that is available, cells display yellow as you make changes


6. Click Save and the cells will display white indicating that the entries have been successfully updated, a confirmation message displays indicating the data was saved, click OK to close the message 



Adding an account code not already displayed on Form 4.2 

1. In Form 4.2 Review and Realign Core Recurring Budget, locate the Project that you wish to budget on. In the Direct Input column, right-click on any cell and select Add Core Account from the Action menu.


2. FS_AddCoreAccount dialog box displays populated with information for the FinUnit, Function, Fund, Project and Recurring Budget Type. If all are correct, these selections should be left as-is, except for Account. If needed, clear any account code that is displayed so that the box is empty. Next to Select Account. click the Member Selector icon  


3. The Select Members dialog box will display

a. Account numbers can be searched for in the Search Account box or use the arrows to drill through the account hierarchy to locate the Expense Account code that needs to be added 

 

4. Once the Account is located, use the blue checkmark to make the selection and press OK

 

5. You will return to the FS_AddCoreAccount dialog box and the selected Account is now added in the Select Account box, click Launch


6. You will return to Form 4.2, a confirmation displays, the Add Core Account function was successful, click OK to close the message 

 

7. The added Account code is now displayed and a white cell is available to enter a budget figure, after making entries, click Save   



If you still have questions or need additional assistance, please submit a ticket