Preparing Revenue and Operating Expense Budgets
KB06003597 •482 Views • Updated 3-Mar-2025
Purpose
The following guide is intended for Operating Entity and Org Planners who are looking to view or complete any of the following actions:
Actions:
· Entering Tuition Fees & Financial Aid
· Entering Financial Aid by Endowments
· Entering Financial Aid by Gifts
· Review and Adjust Revenue Allocation
· Review and Adjust Expense Allocation
Terminology
· Seeding Budgets: The Unit Budget will be prepopulated with the latest Monthly Forecast data for all accounts excluding:
· Tuition, Fees, Financial Aid, Endowments, Compensation and Transfers
· Tuition, Fees, and Financial Aid will be calculated based on enrollment drivers for the below accounts:
· Tuition
· Tuition-Undergrad-Autumn – 50006, Tuition-Undergrad-Winter – 50021, Tuition-Undergrad-Spring - 50036
· Tuition-Precollegiate-Autumn – 50121, Tuition-Precollegiate-Winter – 50141, Tuition-Precollegiate-Spring - 50161
· Tuition-Grad Master -Autumn – 50206, Tuition-Grad Master -Winter – 50211, Tuition-Grad Master -Spring – 50216
· Tuition-Grad Doctoral -Autumn – 50236, Tuition-Grad Doctoral -Winter – 50241, Tuition-Grad Doctoral -Spring - 50246
· Tuition-CPE/Other-Autumn – 50311, Tuition-CPE/Other-Winter – 50321, Tuition-CPE/Other-Spring - 50331
· Fees
· Fees-Undergrad Fee - 50401
· Fees-Seminary Fees - 50431
· Financial Aid
· Undergrad Fin Aid – 75400
· M&P Fin Aid – 75500
· PhD Financial Aid – 75600
· Endowments will be loaded by the Budget Office in preparation of the budgeting process that Users will be able to view.
· Compensation will be calculated in the Position plan type and the data will be pushed to the Financial plan type.
· Budgeting Review Forms: Budget review forms consist of both web forms and reports that will allow the user to view the data entry results and calculations performed during the budgeting process.
Entering Revenue Budget
Entering Tuition Fees and Financial Aid
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Revenue Entry.
4. Select vertical 1 on the left hand of the page.
5. Enter Autumn Tuition Enrollment, Winter Tuition Enrollment, and Spring Tuition Enrollment for each program that has a Tuition rate.
NOTE - if you enter enrollment on rows that do not have a tuition rate, data will not populate. Autumn Tuition = Tuition Rate/3 * Autumn Enrollment
6. Scroll to the right of the page and enter a positive dollar amount in the Average Financial Aid under General Operating. If applicable, enter a dollar amount under Fund Type categories.
Note: This dollar amount is multiplied by the # of the Aided Student Enrollment. The Aided Student Enrollment should be less than the Tuition Enrollment. Formula: Autumn Aided Students * Financial Aid Discount Rate.
7. Under Autumn Aided Students, Winter Aided Students, and Spring Aided Students, enter a separate enrollment amount from that of "Step 6".
8. Select Save.
9. On the bottom left-hand side, select "Review Tuition Fees and Financial Aid" and review the enrollment information.
10. Review the enrollment data.
11. 11. If you need to enter data in the Non-Enrollment Fee accounts, select the Enter Non-Enrollment Fees tab on the bottom left-hand side.
12. Enter the data in the FY Budget column and
13. Select Save.
14. To View the total Net Tuition and Fees data select the Review Tuition, Fees and Financial Aid tab at the bottom.
15. Review the Financial Aid, Fees and Tuition data.
You have now completed the process of Calculating Tuition, Fees and Financial Aid.
Entering Financial Aid by Endowments
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Revenue Entry.
4. Select vertical 1.
5. Select horizontal 2 (Enter Financial Aid – Endowments).
6. Enter data by Endowment in the DS-Input Column.
7. If the user needs to add a new combination, they can right-select a row to access the "Add new Endowment or Gift Financial Aid Account."
8. In the new tab change the Fund to the desired fund.
9. Enter the data.
If you have multiple rows of data to enter you can export the form and convert to an Ad-hoc and select several Endowment members and enter in bulk.
10. Navigate to Actions.
11. Select Spreadsheet Export.
12. Select Export.
13. Then open the downloaded file.
It will open in Smartview for Excel.
14. If you do not have a Smart View connection established, it will prompt you to log in. Login via OKTA Single Sing On.
15. Select Enable Editing.
16. Select Ad-hoc Analysis.
17. Select FIN for the Plan Type.
18. Now that this form is AD hoc you can enter new rows by Fund and Program.
19. Select the Fund dimension.
20. Select Pivot.
21. Now you can add multiple Funds on the rows and enter data in a month.
22. Select the Planning Ad Hoc tab.
23. Select Submit.
24. Navigate back to the form on the web and you will see the new rows of data.
25. Select Save to execute the business rule.
You have now completed the process of Entering Financial Aid by Endowments.
Entering Financial Aid by Gifts
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Revenue Entry.
4. Select vertical 1.
5. Select horizontal 3 (Enter Financial Aid – Gifts).
6. Enter data by Gifts in the DS-Input Column.
Note: If you need to enter two Gifts not on form, please follow steps 7 through 23 in the Entering Financial Aid by Endowments section.
7. Select Save to execute the business rule.
You have now completed the process of Entering Financial Aid by Gifts.
Entering Summer Tuition
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Revenue Entry.
4. Select vertical 2.
5. Ensure correct Organization is selected on the top left-hand side highlighted in blue.
6. Enter a dollar amount under the FY Budget Year Total.
7. Select Save.
8. If you need to enter data for an account combination that is not visible on the form, please left select the dimension closest to the data and the Right Select the dimension and select Add New Revenue Account.
9. This action will open a new form FIN - Add new REV Account. Please Select the desired members for dimensions: Account, Organization, Fund, Program, Site and Purpose. Select the Go button once all selections have been made.
10. Enter the amount.
11. Select Save.
12. Select the X to return to the Enter Summer Tuition Tab.
13. To view the budget divided per quarter, select expand icon near the year total to expand the Quarterly Budget.
14. Review the summer tuition data by quarter.
You have now completed the process of Entering Summer Tuition.
Enter Stipends
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Revenue Entry.
4. Select vertical 3 on the left-hand side of the page.
5. Ensure the correct Organization is selected on the top left-hand side, highlighted in blue. Data should be populated accordingly.
6. Enter Stipend Amount under FY Budget - Endowment Adj Conversion in desired categories. Example "Undergrad Stipend, Post Docs Fellows Stipend, PhD Fellowship Stipends"
7. Select Save.
8. If you need to enter data for an account combination that is not visible on the form, please left select the dimension closest to the data and then Right Select the dimension and select Add New Revenue Account.
9. This action will open a new form FIN - Add new REV Account. Please Select the desired members for dimensions: Account, Organization, Fund, Program, Site and Purpose. Select the Go button once all selections have been made.
10. Select the X to return to the Enter Stipends tab.
11. To view budget divided per quarter, select expand icon.
12. Review the stipend data by quarter.
You have now completed the process of Entering Stipdends.
Entering Gifts
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Revenue Entry.
4. Select vertical 4 on the left-hand side of the page.
5. Ensure correct Organization is selected on the top left-hand side highlighted in blue.
6. Enter Gift Amount into the Budget Year Total column.
7. Select Save.
8. If you need to enter data for an account combination that is not visible on the form, please select the dimension closest to the data and the Right Select the dimension and select Add New Revenue Account.
9. This action will open a new form FIN - Add new REV Account. Please Select the desired members for dimensions: Account, Organization, Fund, Program, Site and Purpose. Select the Go button once all selections have been made.
10. Enter the amount.
11. Select Save.
12. Select the X to return to the Enter Gifts tab.
13. To view budget divided per quarter, select the expand icon.
14. Review the gift data by quarter.
You have now completed the process of Entering Gifts.
Enter Endowment Revenue
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Revenue Entry.
4. Select vertical 5 on the left-hand side of the page.
5. Ensure correct Organization is selected on the top left-hand side highlighted in blue.
6. Use this for to review the loaded Endowments for the budget year. That data will be present in the DS-Loaded column. The User will be able to enter data in the DS Input column if changes are needed.
7. Select Save.
8. If you need to enter data for an account combination that is not visible on the form, select the dimension closest to the data and the Right Select the dimension and select Add New Revenue Account.
9. This action will open a new form FIN - Add new REV Account. Please Select the desired members for dimensions: Account, Organization, Fund, Program, Site and Purpose. Select the Go button once all selections have been made.
10. Enter the amount.
11. Select Save.
12. Select the X to return to the FIN Updated loaded Endowments.
You have now completed the process of Entering Endowment Revenue
Enter Other Revenue
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Revenue Entry.
4. Select vertical 6 on the left-hand side of the page.
5. Ensure correct Organization is selected on the top left-hand side highlighted in blue. Data should be populated accordingly.
6. Enter in Annual Dollar Amount under FY Budget.
7. Select Save.
8. If you need to enter data for an account combination that is not visible on the form.
9. Select dimension closest to the data and then right select the dimension and select Add New Revenue Account.
10. This action will open a new form FIN - Add new REV Account. Please Select the desired members for dimensions: Account, Organization, Fund, Program, Site and Purpose. Select the Go button once all selections have been made.
11. Enter the amount.
12. Select Save.
13. Select the X to return to the FIN Other Revenue screen.
14. To view budget divided per quarter, select the expand icon near year total to expand Quarterly Budget.
15. The Other Revenue will then display quarterly data.
You have now completed the process of Entering Other Revenue.
Review Revenue
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Revenue Entry.
4. Select vertical 7 on the left-hand side of the page.
5. Ensure correct Organization is selected on the top left-hand side highlighted in blue.
6. Review the Total Revenue.
7. Expand Quarterly Revenue by select the expand icon.
8. The revenue will then display the data in quarters.
9. Select the expansion icon near total revenue to see revenue accounts such as Net Tuition and Fees, Financial Aid and Other Revenue.
10. You can continue to drill down into data further by selecting additional expand icons.
You have now completed the process of Reviewing Revenue.
Entering Expense Budget
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Expense Entry.
4. Ensure the correct Organization and Fund is selected on the top left-hand side, highlighted in blue.
5. Complete SSO Budget.
NOTE: For expenses, there are 5 options, however, they all display the same data. The difference is how the data is laid out. It is recommended that users select one vertical when entering data.
6. Select a Vertical on the left-hand side of the page. Vertical 1 is By COA Order, Vertical 2 is by Program, Vertical 3 is by Activity, Vertical 4 is by Site, and Vertical 5 is by Account.
7. Select the 'Defaults' tab for the selected Vertical.
NOTE: For Each vertical there are at least two horizontals. The first horizontal will include all dimension in the rows. The second "Default" for dimensions: Activity, Purpose and Site.
8. Enter the Annual Budget Amounts in the FY Budget column.
9. Select Save.
10. If you need to enter data for an account combination that is not visible on the form, select the dimension closest to the data and the Right Select the dimension and select Add New Expense Account.
11. Select the desired members for dimensions: Account, Organization, Fund, Program, Site and Purpose. Select the Go button once all selections have been made.
12. Enter the amount.
13. Select Save.
14. Select the X to return to the previous screen.
You have now completed the process of Entering Budget Expense Entries.
Review and Adjust Revenue Allocation
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Allocations.
NOTE: All pages within the Budget Review module are review only.
4. Select Revenue Allocations.
5. Review the data loaded from in the DS Loaded Column and confirm correctability.
6. Enter an allocation adjustment in the DS Input column.
7. Select Save.
8. Ensure the data has populated the DS Input Alias.
9. Expand the YearTotal Tab to see Quarterly Breakdowns of the allocation.
10. The data will then be displayed quarterly.
You have now completed the process of Review and Adjust Revenue Allocation.
Review and Adjust the Expense Allocation
1.Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3.Select Budget Allocations.
NOTE: All pages within the Budget Review module are review only.
4.On the bottom left-hand side, select the Expense Allocation tab.
5.Review the data loaded from in the DS Loaded Column and confirm correctability.
6.Enter an allocation adjustment in the DS Input column.
7.Select Save.
8.Expand the YearTotal Tab to see the quarterly Breakdown of Allocation.
9.The data will then be displayed by quarter.
You have now completed the process of Review and Adjust the Expense Allocation.
Running Budget Reports
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Review.
4. Select 5 to view Budget Reports.
5. Select the cogwheel.
6. To download the report as a PDF or Excel select Download as PDF or Download as Excel.
7. Select Annual Budget Comparison.
8. Select the cogwheel.
9. To download the report as a PDF or Excel select Download as PDF or Download as Excel.
You have now completed the process of Running Budget Reports.
Budget Review
Accessing Budget Review
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Review.
NOTE: All pages within the Budget Review module are review only.
4. Ensure correct Organization is selected on the top left-hand side highlighted in blue.
5. Select the Vertical on the left-hand side of the page to review the following Budgets: Vertical 1: Review Budget.
6. Select the Vertical on the left-hand side of the page to review the following Budgets: Vertical '2': Review by Organization.
Note: Change the Org under Org-User to view different Organizations.
7. Select the Vertical on the left-hand side of the page to Review the following Budgets: Vertical '3': Review Budget By Fund.
8. Select the Vertical on the left-hand side of the page to review the following Budgets: Vertical 4: Review Budget by Purpose.
9. Select the Vertical on the left-hand side of the page to review the following Budgets: Vertical 5: Annual Budget By Month
10. Select the cogwheel to access download options.
11. Select Download as PDF or Download as Excel.
12. On Vertical '5', select the bottom right-hand tab Annual Budget Comparison to review the following Budget.
13. The Annual Budget Comparison report will then be displayed.
NOTE: Follow the same process for steps 10 and 11 to download the report to your computer.
You have now completed the process of Accessing Budget Review.
Budget Submission
1. Select the OKTA Single-Sign On button and then complete the steps to sign in.
2. Select Operating Budget.
3. Select Budget Submission.
NOTE: All pages within the Budget Review module are review only.
4. When the budget is ready for submission, select Actions.
5. Then select Business Rules.
6. Select the FIN_DATACOPY_Submission_BudUnit rule.
7. Data will now be present in the Submission column on the form. The Budget Office Will review all Budgets in the "Submission."
NOTE: If a user makes an update to the budget after executing this task, the budget must be resubmitted.
You have now completed the process of Budget Submission.
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