Budget Forecasting

Financial Management > Annual Budget Processing > Budget Processing > Budget Forecasting

Budget Forecasting allows the user to create sample scenarios to help them understand the effect that different percentage changes will have on the overall budget.

The defaults for budget forecasting are set on the Annual Budget Settings tab on Company FM Settings.

Sort

The sort attribute gives users the ability to view budget scenarios by revenues and expenses for a particular fund. The sort icon is a toggle that alternates the view between information by Fund > Account Type > Account Class > Account, and Account Type > Revenue Type.

1. Select the Budget Year on which you want to base your forecast. All open budget years are available as options.
2. Select a Baseline value for the budget. The options are the budget levels defined in Company FM Settings. This will serve as the starting point for your forecast.
3. Select up to four scenarios for your forecast. The scenarios are defined and can be maintained in Budget Scenario Maintenance. Based on the percentages defined for the funds displayed, the totals are updated for that fund in each scenario. Each fund can be expanded to show forecast details down to the G/L account level.

View

The View option provides a graphical presentation of the budget scenarios set up on the Sort page. The Apply icon is a toggle that alternates the display between a numeric presentation of data, pie charts, and a line chart.

The information is charted by Organization by default; the other Chart By option is Classification. Each option shows a line graph. Pie graphs do not include the Chart By field.

From this view, returning to the Sort option presents the comparison as a pie graph.

Scenario Maintenance

See Budget Scenario Maintenance for details.