Planning and Budgeting Resources and Training

 This guide will cover:  

 

Information

WyoCloud Planning and Budgeting will support the business processes related to the University’s budget model and will aid in the creation of budgets and forecasts.

The primary objectives of the WyoCloud Planning & Budgeting system are to:

  1. Provide end users a specific set of processes and procedures to perform their annual and multi-year budgeting and forecasting plans, with the flexibility to grow with the University’s changing needs.

  2. Integrate with existing data sources to provide users with consistent and timely data.

  3. Supply aggregated reporting and analysis of the budget and forecast across the University.

  4. Facilitate Budget vs Actual variance analysis and allow for more frequent forecasting updates based on the reallocation of University resources.

The Budget Process Flow and Timeline are important aspects of the budget cycle and remain essentially the same from year to year. Although the budget timeline remains the same, specific calendar dates change.  Training resources assist approved budget managers in the budget planning process.

 

Budget Process Flow

The budget process starts at the department level where the [Consumers] and [Planning Users] work together to develop their respective budgets prior to sending the budget up through the channels for approvals.

 

Budget Process Timeline

  • Budgets are developed on a fiscal-year basis. It is important to note that the University’s fiscal year begins on July 1st of year.

  • The development of budgets start as early as November for the next fiscal year. Below is a very high-level timeline when each section of the budget process takes place:

  • Links to the specific deadlines per fiscal year and the Budget User Guide may be found on the Budget Office’s website under Procedures:

 

Requesting Access to the Planning and Budgeting System

Requesting Access

  • To request access to the Planning and Budgeting system, the user must email   budgetoffice@uwyo.edu AND Peter Shumway at shumway@uwyo.edu. One email is sufficient.

  • All approved budget managers must complete training to access to the Planning and Budgeting System.

 

Terminology in WyoCloud Planning and Budgeting

 

Activity Pane

Shows a list of recent activity and favorited objects. The Activity Pane is located on the WyoCloud Planning and Budgeting home page.

Adjust Data

Advanced data entry feature which allows you to increase or decrease existing data by a number or a percentage.

Budgeting

Process of allocating finite resources to the prioritized needs of an organization. A budget provides an important tool for the control and evaluation of both the sources and the uses of the finite resources. Functionally, UW’s budget is a financial representation of the University’s planned operations for a given period of time. The budget is finalized before the beginning of the University’s fiscal year (July 1) and actual revenue and expenditures are measured against the budget as a means of reviewing performance and managing expenditures

Business Rules

Calculations which allow users to derive output based upon a pre-determined formula logic, for example, Headcount * Rate / Head = Salary.

Cards

Represent the different objects in WyoCloud Planning and Budgeting, such as forms, reports, and dashboards.

 

Chart of Account (COA)

A financial organizational tool that provides a complete listing of every account in the accounting system at The University of Wyoming. The COA is used to create a unique record for each type of asset, liability, equity, revenue, and expense. The Chart of Accounts represents the structure through which financial transaction data is organized and reported and can be thought of as the language of the accounting system. The UW Chart of Account lists the names of the accounts that UW has identified and made available for recording transactions in the general ledger.

Clusters

Grouping of cards within a Navigation Flow. Each cluster groups like business processes.

Dashboards

Graphical representation of database data, purpose built to provide Business Intelligence.

Data Forms

Purpose built input/review ‘views’ of a database. These allow users to input data, review data, and interactively select what portion of the data set they want to look at in the form (i.e. segments available in drop down menus).

Dimension

The defining descriptors of all data stored in the system’s database. Dimensions describes the data values in the database.

Drill Down

The process of retrieving progressively detailed data from a dimension by expanding a parent member to reveal its children.

Drill Through

Feature in a data cell which allow you to access information and data from the data source.

Forecasting

The practice of updating the plans established in the annual budget based on actual income and expenditures. Forecasting is an integral part of all ongoing planning efforts.

Functional Role Groups

Security groups which determines what areas of the budget process a user will contribute to.

Generations

Refers to member’s location within an outline of a hierarchy from a top down perspective. The generation number identifies the branch on which the member lies in relation to its distance from the dimension name.

Hierarchy

The organized layout of dimension members into parent/child relationships, allowing for the systematic aggregation of data values in predefined paths.

Hierarchy Groups

Security group which determines which College(s) / Department(s) a user will have write access to.

Levels

Refers to a member’s location within the outline of a hierarchy from a bottom-up perspective. The level number identifies the branch on which the member lies in relation to its distance from the lowest level (level 0).

Member

The individual elements within a dimension. Members can make up a hierarchy.

Navigation Flows

Grouping of artifacts such as forms and dashboards which support the completion of a particular business process (e.g. position budgeting).

Navigator

Navigation component of the WyoCloud Planning and Budgeting home screeen which shows all forms, tools, and preferences available within WyoCloud Planning and Budgeting. While you have access to Navigator, it is recommend you use the navigation flows to carry out all budgeting tasks.

Navigation Toolbar

Displays all cards in a cluster when a form is open, allowing the user to naviate between the different cards. The Navigation Toolbar is located above an open form.

Planning

Provides the overall venue and process for stating the direction and financial objectives of an organization.

Point of View (POV)

Defines the section of data in the WyoCloud Planning and Budgeting database you are viewing. You select the desired members for each dimension from the POV to determine the context for the pages, rows, and columns.

Review Forms

Read-only summary of the Budget the user has generated to provide a real time look at the total budget by the selected organization.

Smart Lists

Pre-defined selection lists managed by the administrator. Users are restricted to the members in the list, which assures accurate data selection.

 

Supporting detail

Advanced data entry feature which allows you to break down the amounts summing to the overall data.

Suppressed Forms

Displays only funds and accounts which have data loaded from either WyoCloud Financials (Actuals) or from the prior year’s Budget. This limits the amount of scrolling the user must do in order to find the accounts they would typically budget for.

Unsuppressed Forms

Same as the Suppressed form except it displays all of the available accounts to allow the user to budget to an account they may not have budgeted for in the past.

User variables

Act as filters in data forms, enabling users to only see data and information that are relevant to them.

Variables

Variables are embedded into the design of other objects (forms, calculations, reports, etc.) and are linked to an underlying member (i.e. Budget, Actuals, FY17, etc.).

What-If Versions:

Advanced data entry feature which allows you to change the values in your budget to see how those changes will affect the outcome. You can model alternative situations to see how different sets of values affect your budget and results in the form.

 

Resources & Contact Information

  • In-person courses offered by the Budget Office prior to the kick-off of the Fiscal Year budget cycle provide timely information about the budget process and timeline.  Budget managers are notified via email of these training opportunities.

  • Quick Reference Guides (QRGs) provide step-by-step instructions for the Planning and Budgeting system.

  • The Budget Office website provides valuable information and forms.

 

Budget Office Contact

Merica Hall, Room 201
307-766-4897
budgetoffice@uwyo.edu

 

 

This completes the Planning & Budgeting Resources and Training QRG.

 

 

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Details

Article ID: 137511
Created
Wed 1/5/22 2:04 PM
Modified
Tue 6/7/22 10:50 AM