Adopt the Budget

Financial Management > Annual Budget Processing > Budget Processing > Adopt Budget

The Adopt Budget page gives users the ability to adopt an approved budget.

Security

Maintenance > new world ERP Suite > Security > Users

A security component, Adopt Budget, exists for the adoption of the budget. You will need this permission to access the page.

Adopt the Budget

1. The Budget Year is populated by default with the current budget year defined on the Annual Budget Settings tab on Company FM Settings. All of the open budget years are available as options.
2. The Department field is required. Select the department for which the budget will be adopted.
3. The Final Budget check box is cleared by default. Select it if this will be the final budget for the budget year.

4. The Post Spread Budget check box is cleared by default. Leave it cleared if the funds in the final budget should be consolidated (whole budget is available on first day of the fiscal year).

   During the final budget process, if you want the budget to be spread after doing a non-final spread, make sure to mark the spread box; otherwise, the system will wipe out any previous spreads and consolidate the budget (whole budget hits on the first day of the fiscal year).

   Note: You cannot final adopt again.

5. The Available Funds field displays all funds that are at the maximum budget level as defined on the Annual Budget Levels tab on Company FM Settings. These funds have not yet been selected for inclusion when the budget is advanced. At least one fund must be selected.
6. Click Adopt to adopt the budget.