x lerant college webinar: improving the budget process
DESCRIPTION
How to improve budgeting in the university environmentTRANSCRIPT
BudgetPak… Taking the stress out of budgeting (one user at a time)
Self Service Budgeting for Colleges & UniversitiesSelf Service Budgeting for Colleges & Universities
Agenda
• Background on XLerant
• Unique challenges
• Requirements
• Demo
Background on XLerant, Inc.
• Founded by process experts.
• Incorporated December 2007.
• Clients are mid-sized companies, non-profit and higher ed.
• Higher education market is a new strategic focus.
Agenda
• Background on XLerant
• Unique challenges
• Requirements
• Demo
Unique ChallengesUse of multi segment account string, usually including Fund Segment
1-1100-1-1-1000-5E010
Number Description Digits Range1 Fund 1 1 to 9 1100 Source 4 0000 to 99991 Function 1 0 to 91 Location 1 0 to 91000 Cost Center 4 0000 to 99995E010 Object 5 alpha-numeric
Fund Source Function Location
1 - unrestricted (operational) 0000 - general/ generic 0 - general/ generic 0 - college wide2 - unrestricted (other) 1100 - trust 1 - retained revenue/ local expenditures 1 - smithtown3 - restricted (grants/ contracts) 1101 - trust/ action plan 2 - state employee payroll 2 - norwalk4 - restricted (federal financial aid) 1200 - auxillary/ wfd 3 - state non-payroll 3 - lambert5 - restricted (state financial aid) 1300 - student activities 4 - revenue 4 - pottersville6 - perkins loan 1400 - community ed 5 - other student revenue7 - plant 2100 - state maintenance 6 - financial aid8 - agency 2101 - state maintenance/ action plan 7 - sales/ rental9 - capitalized fixed assets 3000 - grants 8 - contracts
9 - other
Object Codes
The first digit represents the GL class as follows: The second digit for assets and liabilities only represent as follows:1 - assets 10 - cash asset2 - liabilities 11 - cash investment3 - fund balances 12 - accounts receivable4 - revenue 14 - prepaid expenses5 - expenditures 20 - accounts payable
21 - accrued salary and wages22 - accrued liabilit - workers comp
Unique Challenges
Department Heads
Unique Challenges
Very little operational review & sign off before budgets are submitted to Finance
Unique Challenges
Getting data back & forth from G/LAccountNumber AccountDescription 1 2 3 4 5 6 7 8 9 10 11 121-1101-1-1-1200-5U030 1200_5U030 Software & Info Tech Licenses 416 416 416 416 416 416 416 416 416 416 416 419 1-1100-1-1-5620-5F160 5620_5F160 Lib/Teaching Materials 42 42 42 42 42 42 42 42 42 42 42 38 1-1101-2-1-5400-5C230 Acad/Supp/Tech : Administrative service 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2,000 1-1100-1-1-5400-5E220 Acad/Supp/Tech : Conf/Trng Expenses 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-5400-5B050 Acad/Supp/Tech : Conference, Training, 67 67 67 67 67 67 67 67 67 67 67 63 1-1101-1-1-5400-5R410 Acad/Supp/Tech : Dual Enrollement Schol 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-5400-5F180 Acad/Supp/Tech : Food & Recreation for 0 0 0 0 0 0 0 0 0 0 0 - 1-1101-1-1-5400-5F180 Acad/Supp/Tech : Food & Recreation for 189 189 189 189 189 189 189 189 189 189 189 184 1-1101-1-1-5400-5F160 Acad/Supp/Tech : Lib/Teaching Materials 38 38 38 38 38 38 38 38 38 38 38 42 1-1100-1-1-5400-5E010 Acad/Supp/Tech : Office Supplies 17 17 17 17 17 17 17 17 17 17 17 13 1-1100-2-1-5400-5C090 Acad/Supp/Tech : Other Contracted Servi 0 0 0 0 0 0 0 0 0 0 0 - 1-1101-2-1-5400-5C090 Acad/Supp/Tech : Other Contracted Servi 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-5400-5B010 Acad/Supp/Tech : Out of State Travel/Ot 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-2-1-5400-5A080 Acad/Supp/Tech : Overtime 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-3-1-5400-5B030 Acad/Supp/Tech : Overtime Meals 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-5400-5E020 Acad/Supp/Tech : Printing & Print Suppl 8 8 8 8 8 8 8 8 8 8 8 12 1-1101-1-1-5400-5R090 Acad/Supp/Tech : Student Aid/Scholarships 1453 1453 1453 1453 1453 1453 1453 1453 1453 1453 1453 1,457 1-1100-1-1-5400-5B020 Acad/Supp/Tech : Travel, In-State 25 25 25 25 25 25 25 25 25 25 25 25 1-1100-2-1-9600-5C010 ACT Center : Adjunct Faculty 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-2-1-9600-5C230 ACT Center : Administrative services 1872 1872 1872 1872 1872 1872 1872 1872 1872 1872 1872 1,872 1-1100-1-1-9600-5E130 ACT Center : Advertising 833 833 833 833 833 833 833 833 833 833 833 837 1-1100-1-1-9600-5JJ20 ACT Center : Auxiliary Services 167 167 167 167 167 167 167 167 167 167 167 163 1-1100-1-1-9600-5E220 ACT Center : Conf/Trng Expenses 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-9600-5B050 ACT Center : Conference, Training, & Re 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-9600-5J160 ACT Center : Examiners/Monitors/Graders 42 42 42 42 42 42 42 42 42 42 42 38 1-1100-1-1-9600-5E140 ACT Center : Exhibits/Diplays 83 83 83 83 83 83 83 83 83 83 83 87 1-1100-1-1-9600-5B1B0 ACT Center : Inactive 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-9600-5J420 ACT Center : Inactive 0 0 0 0 0 0 0 0 0 0 0 -
Unique Challenges
Limited IT support
Unique Challenges
Roll ups & reporting
Agenda
• Background on XLerant
• Unique challenges
• Requirements
• Demo
Accommodate multi-segment account string
Requirements
Use of multi segment account string, usually including Fund Segment
1-1100-1-1-1000-5E010
Number Description Digits Range1 Fund 1 1 to 9 1100 Source 4 0000 to 99991 Function 1 0 to 91 Location 1 0 to 91000 Cost Center 4 0000 to 99995E010 Object 5 alpha-numeric
Fund Source Function Location
1 - unrestricted (operational) 0000 - general/ generic 0 - general/ generic 0 - college wide2 - unrestricted (other) 1100 - trust 1 - retained revenue/ local expenditures 1 - smithtown3 - restricted (grants/ contracts) 1101 - trust/ action plan 2 - state employee payroll 2 - norwalk4 - restricted (federal financial aid) 1200 - auxillary/ wfd 3 - state non-payroll 3 - lambert5 - restricted (state financial aid) 1300 - student activities 4 - revenue 4 - pottersville6 - perkins loan 1400 - community ed 5 - other student revenue7 - plant 2100 - state maintenance 6 - financial aid8 - agency 2101 - state maintenance/ action plan 7 - sales/ rental9 - capitalized fixed assets 3000 - grants 8 - contracts
9 - other
Object Codes
The first digit represents the GL class as follows: The second digit for assets and liabilities only represent as follows:1 - assets 10 - cash asset2 - liabilities 11 - cash investment3 - fund balances 12 - accounts receivable4 - revenue 14 - prepaid expenses5 - expenditures 20 - accounts payable
21 - accrued salary and wages22 - accrued liabilit - workers comp
• Intuitively obvious
• Eliminate need to write common formulas for budgeting
• Exception reporting to highlight “outside the guideline” choices
Department Heads
Requirements
• Easy to understand approval workflow
• Easy to view reporting for operational reviews
• Electronic stamp -- audit trail of sign off
Very little operational review & sign off before budgets are submitted to Finance
Requirements
• Built in Data Management Tool
• Read/write csv, txt, xls, xml
Getting data back & forth from G/LAccountNumber AccountDescription 1 2 3 4 5 6 7 8 9 10 11 121-1101-1-1-1200-5U030 1200_5U030 Software & Info Tech Licenses 416 416 416 416 416 416 416 416 416 416 416 419 1-1100-1-1-5620-5F160 5620_5F160 Lib/Teaching Materials 42 42 42 42 42 42 42 42 42 42 42 38 1-1101-2-1-5400-5C230 Acad/Supp/Tech : Administrative service 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2,000 1-1100-1-1-5400-5E220 Acad/Supp/Tech : Conf/Trng Expenses 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-5400-5B050 Acad/Supp/Tech : Conference, Training, 67 67 67 67 67 67 67 67 67 67 67 63 1-1101-1-1-5400-5R410 Acad/Supp/Tech : Dual Enrollement Schol 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-5400-5F180 Acad/Supp/Tech : Food & Recreation for 0 0 0 0 0 0 0 0 0 0 0 - 1-1101-1-1-5400-5F180 Acad/Supp/Tech : Food & Recreation for 189 189 189 189 189 189 189 189 189 189 189 184 1-1101-1-1-5400-5F160 Acad/Supp/Tech : Lib/Teaching Materials 38 38 38 38 38 38 38 38 38 38 38 42 1-1100-1-1-5400-5E010 Acad/Supp/Tech : Office Supplies 17 17 17 17 17 17 17 17 17 17 17 13 1-1100-2-1-5400-5C090 Acad/Supp/Tech : Other Contracted Servi 0 0 0 0 0 0 0 0 0 0 0 - 1-1101-2-1-5400-5C090 Acad/Supp/Tech : Other Contracted Servi 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-5400-5B010 Acad/Supp/Tech : Out of State Travel/Ot 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-2-1-5400-5A080 Acad/Supp/Tech : Overtime 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-3-1-5400-5B030 Acad/Supp/Tech : Overtime Meals 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-5400-5E020 Acad/Supp/Tech : Printing & Print Suppl 8 8 8 8 8 8 8 8 8 8 8 12 1-1101-1-1-5400-5R090 Acad/Supp/Tech : Student Aid/Scholarships 1453 1453 1453 1453 1453 1453 1453 1453 1453 1453 1453 1,457 1-1100-1-1-5400-5B020 Acad/Supp/Tech : Travel, In-State 25 25 25 25 25 25 25 25 25 25 25 25 1-1100-2-1-9600-5C010 ACT Center : Adjunct Faculty 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-2-1-9600-5C230 ACT Center : Administrative services 1872 1872 1872 1872 1872 1872 1872 1872 1872 1872 1872 1,872 1-1100-1-1-9600-5E130 ACT Center : Advertising 833 833 833 833 833 833 833 833 833 833 833 837 1-1100-1-1-9600-5JJ20 ACT Center : Auxiliary Services 167 167 167 167 167 167 167 167 167 167 167 163 1-1100-1-1-9600-5E220 ACT Center : Conf/Trng Expenses 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-9600-5B050 ACT Center : Conference, Training, & Re 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-9600-5J160 ACT Center : Examiners/Monitors/Graders 42 42 42 42 42 42 42 42 42 42 42 38 1-1100-1-1-9600-5E140 ACT Center : Exhibits/Diplays 83 83 83 83 83 83 83 83 83 83 83 87 1-1100-1-1-9600-5B1B0 ACT Center : Inactive 0 0 0 0 0 0 0 0 0 0 0 - 1-1100-1-1-9600-5J420 ACT Center : Inactive 0 0 0 0 0 0 0 0 0 0 0 -
Requirements
• IT requires 1 hour or less to install
• Finance administers the system
Limited IT support
Requirements
• 1 click roll ups
• Point and click reporting
Roll ups & reporting
Requirements
Requirements
Self Service budgeting Self Service budgeting in a controlled in a controlled environmentenvironment
Agenda
• Background on XLerant
• Unique challenges
• Requirements
• Demo
Slide Library
ETL Tool (e.g., Interweave)General Ledger
XLerant’s BudgetPak™
Time: “Push button”Cost: $20K - $60K
Option 2: Purchase and implement a 3rd party application
General Ledger
File CSV, Excel
XLerant’s BudgetPak™
Time: 5 to 10 minutesCost: Free
Option 1: Use BudgetPak’s free, built in Data Management Tool
Data Integration