Overview
This article serves as a step-by-step guide on how to review budget adjustments entered in Task List 3 of Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS).
Prerequisites
Access to Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS) is required to use the Budget Adjustment Module. If EPBCS access is needed, please reference, KB0035018: How to Request Access to Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS) for instructions.
Before you can review budget adjustment entries, you need to enter budget adjustments by following the steps in KB0035506: How to Claim a Budget Adjustment ID in Task 3.1 and KB0035511: Enter Budget Adjustment Details in Task 3.2.
Essential Information
Oracle Planning and Budgeting now includes a transactional budget module (Task List 3) for entering and processing recurring resource budget adjustments. You can review budget adjustment entries by Financial Unit-Fund-Function (Task 3.3), by Financial Unit (Task 3.4), and view pushed adjustments as part of available planning resources in Task 4.2.
Definitions
Budget Adjustment ID: Unique identifier for each Budget Adjustment record. These are claimed on Task 3.1 according to the corresponding SOURCE point of view selection for Financial Unit, Fund, and Function.
Adjustment Account: A select few resource accounts are relevant for the core recurring budget in EPBCS. The Account Codes available for the transfer of resources are:
- 774960: Recurring Non Compensation Xfr
- 774961: Recurring Staff Salaries Xfr
- 774962: Recurring Staff Benefits Xfr
- 774963: Recurring Faculty Salaries Xfr
- 774964: Recurring Faculty Benefits Xfr
- 774965: Recurring ICR Xfr
Pushing a Budget Adjustment: This is the final step in processing a budget adjustment in Task 3.2 and it will send the data into budget entry forms in Task List 4 and beyond. Once a budget adjustment has been pushed, it cannot be edited. If changes are needed, a secondary budget adjustment will need to be created to make changes as necessary.
Core Funds: Category of funds that is used to support direct costs associated with instruction, research and public service efforts. Core funds include State and UC General Funds, Student Fee Funds (Tuition, Student Services Fees, Professional Degree Supplemental Tuition, Non-Resident Supplemental Tuition), Indirect Cost Recovery Funds, Investment Income, Patent Income, ASSA, Gift Fees/Endowment Cost Recovery; now more commonly known as SOFI Funds which represent approximately 99% of core fund spending on campus i.e., most, but not all, core funds are part of SOFI
Core Recurring Budget: The recurring approved annualized plan of operations for the university. It is adjusted either during the annual budget process or via budget adjustments to reflect changes with continuing impact. Typically, only core funds have core recurring budgets.
Steps to Take
1. On the Oracle Planning & Budgeting home screen, click on the Tasks tile
2. Expand caret to see list of tasks under 3 - Create and Manage Core Recurring Budget Adjustments
3. Click on Task 3.3 Review Core Recurring Budget Adjustments to open the form
4. Task 3.3 has two sections. On the right side of the dashboard under the Budget Adjustment Transactional Detail section, you will see a list of all budget adjustments made for the FFF selected. On the left side of the dashboard under the Net Impact to FFF section, the total row should calculate any budget adjustments against this chart string.
5. You can export either side of the dashboard by selecting the Gear icon that appears when hover over the section title.
6. Select Spreadsheet Export and the click Export in the pop-up window that appears. The file (default name HspWebGrid.xlsx) will appear in your Downloads folder.
7. Click Next in the upper-right corner of Task 3.3 to proceed to Task 3.4 Overview of Budget Adjustments
8. If needed, update the EFinUnit in the POV for the data you want to view (make sure to press the Go Arrow if you make a change)
9. Task 3.4 displays all budget adjustments made at the Financial Unit level, so note that other users may have entered data against other FFF combinations you have access to as either source or destination side of transaction.
10. You can export the report by using the Actions dropdown in upper-right corner of form and selecting Spreadsheet Export
11. To view the budget adjustments in Task 4.2, navigate back to the home page, expand the caret next to Task List 4 - Review and Manage Core Fund Budgets and click on Task 4.2 Review and Realign Core Recurring Budget
12. In the top section of Task 4.2, the Total Internal Resources within the Budget Adjustments Detail column matches the Net Impact to FFF on Task 3.3. This reflects Budget Adjustments made in Task List 3 as part of available planning resources.
General Section
Q: How does a budget adjustment differ from an OFC Journal to transfer resources?
A: A financial journal does not update the budget, and entries in the Budget Adjustment Module do not impact current year resources on the General Ledger. When transferring one-time resources, an OFC journal is sufficient for the current year's financial transactions. However, to impact your recurring budget, a budget adjustment record must also be entered in EPBCS.
Q: Where can I learn more about core funds planning in Task List 4?
A: Visit KB0033234: How to Budget Core Recurring Funds on Form 4.2