Creating Budget Revisions

Make sure your administrator runs the Prepare for Revisions rule before working with budget revisions.

Perform these steps to create a budget revision and populate the selected accounts in the budget revision with initial revised data. Share the revision with planners; planners can then make additional revisions using direct entry or trend-based planning.

To prepare budget revisions:

1. From the Home page, click Financials, then Budget Revisions, and then Manage Revisions.
2. Right-click in the grid, click Revision Options, and then click Create and Populate Revision.
3. Select the options for the revision, and then click Next:
   • Select the members as needed to define the scope of data for your budget revision. In this way, you can limit the scope of the revision. You can make revisions to accounts to which you have access.

     Tip:

     If you want several planners in your organization to contribute to the budget revision, select parent members for the entity and primary dimensions. In this case, the revision appears for all the leaf level members under this parent. As a supervisor, if you create the revision this way, the revision will appear for other planners. These planners can select the revision and work with forms that include the pre-populated data. They can make additional revisions as needed.
   • Enter a justification and a description for the budget revision.
   • Select the revision type—Permanent, Temporary or Emergency, or Transfer.
   • If your administrator enabled integration with Budgetary Control, select the control budget to integrate with.
4. Select the Revision Method—Direct Entry or Trend Based to pre-populate the data in the revision. Then, select the specific accounts to pre-populate. This option pre-populates the revision for the specified accounts using the revision method you select and based on the percentage you will enter in the next steps. You must select Expense account members to include. Then, click Next.

5. If you selected Trend Based, select one of the following trends to pre-populate the revision with trend-based data:

   • Current Period Actual
   • Current Year Encumbrance
   • Net Current Budget
   • Current Year Approved Budget
   • Current Year Original Budget
6. Enter an adjustment percentage, and then click Launch. For example, enter 10 for 10%.

   If you don't enter a percentage, values aren't populated in the revision, and planners can directly enter new budget numbers in revision.

   A budget revision is added in the Adopted Budget scenario. Values are pre-populated for the accounts you selected:

   • If you selected Direct Entry, the revision is pre-populated with data from the Adopted Budget scenario (OEP_Adopted Budget) and Original version (OEP_Original) for the accounts you selected. For example, if the original budget was $100 for an account and you specified 10% as the adjustment percentage, then the revision is pre-populated with $10.
   • If you selected Trend Based, the revision is pre-populated based on the selected trend using the appropriate slice of data.

   The person creating the budget is listed in the Proposed By column in the Manage Revisions and Revision Listing forms.

7. After a revision is added, you can perform other tasks:
   • Add more details to the budget revision. See Adding Additional Budget Revision Details.
   • See a list of revisions. See Reviewing Revisions.
   • Share a revision. After a revision is created, based on the approval hierarchy, you can share the budget with another planner who needs to contribute to the budget revision process. See Sharing Revisions.
   • Make revisions to the budget revision using either direct entry or trend-based planning. See Revising Budgets in a Budget Revision.

Adding Additional Budget Revision Details

After you create a revision, you can add details for the revision in Header Notes or Header Attachment URL on the Manage Revisions form.

Header level details are meant to be a single value across several records to which the same revision is shared. When you update the data for any one record, then the same value is applied to all records. If you update different values to different records of the same revision, then the value for the last one listed is applied to all records.

Reviewing Revisions

Administrators can review all the current budget revisions for all planners on the Revision Listing form. Use the Revision Listing form to see information about each revision, including who proposed the revision, funds check status, approval status, and who the revision was approved by.

To see a list of budget revisions, from the Home page, click Financials, then Budget Revisions, and then Revision Listing.