• The Target Budget Review Form allows department budget preparers to walk from current year core recurring expense budgets to the planning year target by Account within each Financial Unit, Fund, Function, Project (F-F-F-P) combination.
• The Target Budget Review Form helps inform your department’s core recurring budget and preparers can verify that their overall core recurring working budget has been completed within target.
• Over/under targets will need to have the exact amount offset in another F-F-F-P combination within a VC area.
• Please reach out to your VC contacts for any department budgets that are over target.
• The Target Budget Review Form is a referential form and read-only. All cells are grayed out and cannot be edited.
• The first 4 columns on this form represent a unit’s Pre-Target adjusted budget for the current year. The combination of these 4 columns should effectively tie out to the core resources received – with the exception that the “Current Year Comp Adjustment Journal” is an annualized total for the Target and pro-rated in current year journal entry.
• Within the Budget Year Comp Assumptions column, inflationary assumptions are applied to ratified (signed) contracts only as of FY25 Planning process.

Next Steps

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Start from the Home Page within the Oracle Planning and Budgeting Tool

1. Select the Tasks tile.
   
   
   
   
2. Navigate to Planning Assumptions & Reference Tables (Read Only). Expand the triangle to display 10.0 Target Budget Review Form, click to load the form.
   
   
   
   
3. The 10.0 Target Budget Review Form displays with the following:
   1. Financial Unit, Fund, Function, Project (F-F-F-P) combinations by Account.
   2. The first column displays current year core recurring budget according to the allocations version snapshot which aligns with base allocation journal entries.
   3. The next 3 columns display recurring budget adjustments for: Commitments, Compensation Inflation Back-Outs, Mid-Year Compensation Inflation Increases Based on Actuals.
   4. The 5^th column displays planning year inflation assumptions, which are calculated based on a weighted average increase for salaries vs benefits across each Financial Unit according to the appropriate mix of bargaining units present in each unit.
   5. The far-right column displays the planning year target which combines all columns to the left.

Detailed Column Descriptions

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