Control Budget Implementation

Decide whether you want to create a new control budget for the fiscal year, or simply extend the end date of the existing control budget to include the new fiscal year.

You can choose based on below decision points.

Define a new Control Budget if these conditions are satisfied:

• The control budget attributes, that is the budget manager, control level, supplemental rules etc., are changing from one fiscal year to the next.
• Security access to old budget is changing compared to new budget.
• You want a clear view of whether old budget is impacted, or new budget is impacted by transactions.
• You want to see each year’s as distinct and separate with a clean cutoff.

Extend the end date of the current control budget if these conditions are satisfied:

• The control budget attributes, that is the budget manager, control level, supplemental rule etc., stay the same from one fiscal year to next year.
• Security access to old budget stays the same compared to new budget.
• You perform lot of analysis across fiscal years. Smart view and financial reporting work more efficiently when data resides in the same control budget because the user only needs to change the time dimension to view data across the years. Having data in multiple control budgets would require users to specifically select the control budget when querying data across fiscal years.