BUDGET AND FINANCIAL REPORTING FOR THE ENTERPRISE
PART 2 - DEMOPROPOSED BUDGET
AND POSITION MANAGEMENT
Comprehensive Financial
Reports (CFR)Model
Budget and Planning• Budget Preparation
• Position Management
• Budget to Actual & Analytics
Division/Units• Proposed Budgets
• Position Amendments
• Budget to Actuals
• Vendor Spend
Inventory Management• Distribution Analytics
Contract and Grants• Private Investigators
Grant Spend• Grant Expense and
Reconciliation• Grant Billing (future)
Risk Management• Internal Audit• Unit Assessments• Fraud Detection
Financial Services/Procurement and
ContractingVendor Profiles
Vendor RiskOpen
Requisitions/Purchase Orders
Vendor Spend
Fact Book and Surveys• Financial Profiles• Survey Data
KSU Financial Data Mart
Proposed Budget
Proposed BudgetLimitations:• Limited turn around time
• Large volume of data
• Insufficient summary or aggregate information
• Difficult to balance funds and units within fund groups
• Dissemination of proposed budget schedules labor-intensive
• Time consuming data collection and summarization for BOR & OPB schedules
Proposed BudgetSAS Solution:• Provide summary and drill through to detail
capability
• Aggregate data at multiple levels (Fund, unit, class, department
and position #))
• Identify and summarize data by category(vacant, lump-sum,
inactive and sponsored)
• ALLOWS US TO DO THE FOLLOWING:• Quickly balance fund groups and revenue -generating
departments/units• Identify Year to year variances• Maximize time for analysis• Identify anomalies• Report development (OPB, BOR and Dept Mgrs)
BUDGET PREP REPORT DEMONSTRATION
Position Management
PERSONNEL SERVICESTYPICALLY REPRESENTS
BETWEEN65% - 70%
OF INSTITUTION'S TOTAL BUDGET
Position Management RolesOFFICE OF BUDGET & PLANNING
DEPARTMENT MANAGERS
Maintain oversight
Verify funding
Monitor spending and hold managers accountable
Determine and redirect vacancy lag funds to maximize resources
Track and Report to Management
Budget planning
Track expenditures
Control spending
Position ManagementLimitations:• Inability to track funding changes during the fiscal
year
• Inability to determine variance between budget & actual
• Difficult to track new positions
• Difficult to identify vacant positions and calculate lag
• Inability to hold department manager accountable due to insufficient reporting of personal services detail
Position Management
SAS® Solution:
• Ability to track amendments during the year, both permanent and temporary amendments• How did we do this?
• Use of position number in journal line description field within PeopleSoft Financials
• Pull salary and expense data from ADP to compare• How did we do this?
• Not easily – but position number created the link
Position Management
SAS® Solution:• ALLOWS US TO DO THE FOLLOWING:
• Identify shortfalls or surplus• Validate chart-field data• Track vacant positions, calculate vacancy lag • Develop aging report on vacant positions • Develop Dept Mgr. Report similar to Schedule
G1• Develop Sr. Mgt reports
*****Updated Nightly*****
POSITION MANAGEMENT DEMONSTRATION
DISCUSSION/QUESTIONS
BUDGET AND FINANCIAL REPORTING FOR THE ENTERPRISE
PART 3OPERATIONAL AND STRATEGIC
REPORTING AND ANALYTICS
Comprehensive Financial
Reports (CFR)Model
Budget and Planning• Budget
Preparation• Position
Management• Budget to Actual
& AnalyticsDivision/Units• Proposed
Budgets• Position
Amendments• Budget to
Actuals• Vendor Spend
Inventory Management•Distribution Analytics
Contract and Grants•Private Investigators Grant Spend•Grant Expense and Reconciliation•Grant Billing (future)
Risk Management•Internal Audit•Unit Assessments•Fraud Detection
Financial Services/Procurement and Contracting
Vendor ProfilesVendor Risk
Open Requisitions/Purchase Orders
Vendor Spend
Fact Book and Surveys•Financial Profiles•Survey Data
KSU Financial Data Mart
Financial Monitoring, Reporting and Analytics
Requirements LimitationsStatic reports
Difficult to understand
Cumbersome to print and perform analysis
No analytical tools
Inability to customize to meet needs
Fiscal responsibility, accountability and stability
Communication and Transparency
Accurate projections
Monitor fund balances, debt ratio, and cash flows
Reports to Dept Mgrs.
Financial Monitoring, Reporting and Analytics
SAS® Solution:
• Financial reporting at summary and detail level• Ability to monitor by month or quarter• Sort, filter and rearrange data as desired• Create reports for personal use or to share• Add graphs and charts• Multi year comparisons
Financial Monitoring, Reporting and Analytics
SAS® Solution:• ALLOWS US TO DO THE FOLLOWING:
• Monitor departments budget• Fund and Division level roll up reporting and
monitoring• Track fixed costs• Easily prepare and update projections• Perform analysis at multiple levels• Provide report to Department Mgrs/Business
Mgrs
*****Updated Nightly*****
FINANCIAL REPORTING & ANALYTICS DEMO
DISCUSSION/QUESTIONS