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Budget Planning and Management - Delphi Planning - Budget Process Timeline

This article describes the Budget Process Timeline supported by the Delphi planning applications (UCSAL and UCBUD).

Delphi Planning supports the entire budget process for the University of Chicago.

Phase I: Budget Office

The budget cycle at the University of Chicago starts with the budget office process. The budget office will perform the following steps to prepare budget targets for university executives:

Phase II: Budget Office Target Setting

  1. Enter budget assumptions in UCSAL.
  2. Create the budget target in UCBUD.
  3. Adjust the budget target to calculate the target to share with university executives.
  4. Contact the system administrator to finalize the target.
  5. Negotiate the budget targets with university executives. See the Executive Level Budget Process for more information about executive level responsibilities.
  6. Make final post-negotiation adjustments.
  7. Enter data for the Biological Sciences Division (BSD) and the hospital.
  8. Report to the Board of Trustees.

Phase III: Executive Level Budget Process

The executive level process starts after the Budget Office has contacted the System Administrator to finalize the Targets. Executive Level Users will perform the following steps to prepare Budget Targets and their detailed Budgets for the Budget Office.

Budget Targets (Optional)

  1. Create budget targets at the Operating Budget System (OBS) level.
  2. Negotiate the budget targets with the budget office.

or

  1. Create the compensation budget in UCSAL at the Account 10 level.
  2. Transfer the compensation budget to UCBUD or allow it to happen overnight.
  3. Create the non-compensation budget in UCBUD at the Account 10 level.
  4. Map the Account 10 budget to the OBS.
  5. Negotiate the budget targets with the budget office based on an Account 10 level build up

Budget Creation and Submission

After the budget targets are agreed, university executives create their full budgets from the Account10 level. They then prepare the budget for submission to the Budget Office.

The transfer between the UCSAL application and the UCBUD application may be done as frequently as necessary. Likewise, the final transfer to the budget Office may be performed as many times as necessary until the deadline. After deadline, any further changes must be carefully communicated and planned with the budget office representative for your executive level.

  1. Create the compensation budget in UCSAL at the Account 10 level.
  2. Transfer the compensation budget to UCBUD or allow it to happen overnight.
  3. Create the non-compensation budget in UCBUD at the Account 10 level.
  4. Enter transfer offsets.
  5. Create the Gift & Endowment Fund balance.
  6. Map the Account 10 budget to the OBS.
  7. Transfer the total budget from UCBUD and UCSAL to the budget office by the deadline.

Phase IV: Budget Office Budgeting

University executives complete their part of the process by creating a budget at the Account 10 level that more or less matches the agreed-upon budget targets. They then submit their budgets to the budget office. See the Executive Level Budget Process for more information about executive level responsibilities.

  1. Receive budgets created from the Account 10 Level.
  2. Report on executive level budgets.
  3. Make manual adjustments at the OBS row level.
  4. Contact the system administrator to finalize the budget.



Keywords:Hyperion, UCSAL, UCBUD, Executive, Exec, Budget_Office, targets, account_10   Doc ID:28573
Owner:Levita G.Group:University of Chicago
Created:2013-02-11 16:09 CDTUpdated:2017-03-15 16:21 CDT
Sites:University of Chicago, University of Chicago - Sandbox
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