Monitor a Budget
Once the budget is approved by the board, it can be monitored to analyze obligations and expenditures and to track available funds. Monitoring the budget allows you to:
Track and assess the current and available budget.
Initiate, review, delete, and approve adjustments.
Review historical actuals and drill down into transaction details.
Add comments and attachments.
Analyze spending trends to estimate future spending and seek new ways to improve efficiency and control cost.
Manage unexpected institutional events that impact the budget using adjustments.
Work with Line Items
Depending upon your worksheet role, you can see how a budgeted amount or adjustment was distributed across the line item and the reason for the amount. You can also update or redistribute the amount.
On the main page within the Budget feature, use one of the Search options in the Budget to Prepare for Next Year or This Year's Active Budget section to view your worksheets or line items.
Click on the worksheet with line items you want to review. The worksheet appears.
From the Budget column, click on the amount. The Line Item Detail window appears. You can view or select how the amount is allocated and any justifications for the amounts.
Click the Cancel button. The Line Item Detail window closes.
Note
In order to update a line item, you must be assigned to the appropriate worksheet role. For more information, see Working with Roles.
On the main page within the Budget feature, use one of the Search options in the Budget to Prepare for Next Year section to view your worksheets or line items.
Select the worksheet or line item you want to update.
From the Budget column, click on the amount. The Line Item Detail window appears.
To update the request amount, enter it in the This Request column.
To update how the amount is to be allocated, select Evenly, Up Front, End, or Manually from the drop-down list options. The amounts are distributed.
Tip
If you selected Manually, you can enter the amounts in the term columns.
Click the Save button. The updates are saved and the Line Item Detail window closes.