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Prepared by: Son Nguyen – Finance Business & Systems Analyst
Budgeting/Forecasting in the General Ledger
Agenda
– Manukau City Council (MCC) Enterprise Applications Overview
– Requirements– Issues– Objectives– How we addressed it – Where to next
PeopleSoft Suite
Enterprise Applications
Mo
du
les
Finance560 users
Portal CRM690 users
HR1245 users
• Asset Management• Billing• Expenses• General Ledger• Payables• Projects• Purchasing• Receivables• Treasury• Financials Portal Pack
•Enterprise Portal
• Human Resources• Time and Labour• Payroll Interface• eCompensation• eProfile• Employee Portal
• Field Service• Marketing• Support• Sales• Integration Management•CTI Integration
• eProcurement
• Investor Portal• Enforcer Portal
• eRecruit• eBenefits• ePay• Directory Interface• Resume Processing• Talent Acquisition• ePerformance
• Mobile Field Service• Mobile Order Capture• Portal Pack• Mobile Sales• CRM Financial Services• CRM for Communications
Requirements
– Long Term Council Community Plan (LTCCP), Local Government Act 2002: requires local councils to produce and regularly update a 10 years long term council plan.
– MCC adopted a planning process for 20 years ahead to deliver clear goals that have been agreed between the Council and the Community
– Long term planning / modeling tool
– Replacement for existing budgeting tool - Camelot and Essbase
– Potential Restructure
Issues
– Historically MCC has used a combination of applications such as Camelot, Essbase, Excel and Word for budgeting and planning purpose with mixed results
– Camelot, existing budgeting tool: • Limited, inflexible, duplication of data and set up• An external application • Reconciliation• Lack of support and in-house knowledge
– Current version of PeopleSoft Financials V 8.4 does have some Budgetary functions but is limited for our needs.
– PeopleSoft EPM – considered. It’s costly, and required longer implementation time frame
Objectives
– To provide an easy, simple to use planning tool for the LTCCP round 2009/10
– To provide better financial planning information for decision making purposes
– To simplify the process by using existing data structures, removing the need for an external application and therefore avoiding the duplication of setup
– To enable multiple scenario analysis based on different assumptions
– To reduce risks around the planning process
– To provide a tool to enable the organisation to perform rolling forecasts
Assumptions/Business Rules
Budget in current day dollar amounts Minimum of 4 planning budget stages = 4 planning budget
ledgers– BASE– ELT– DRAFT– FINAL
‘BUDGETS’ ledger remains final ledger for reporting purposes
Scenario’s are used for creating different planning models at each stage
Alternative scenario’s are always calculated from scenario ‘BASE’.
Assumptions/Business Rules cont…
Limited Access: only authorised users can make changes to budget ledger
Budgeting phase can control which ledger is available for adjustment
Budget for ‘normal’ Council activity years 2-20 will be extrapolated
For future years, all budgets will be loaded to Period 1 All budgets will be entered at summary accounts level Forecast ledger will be a rolling forecast of 18 months, it will
be set up for a period of three fiscal years i.e. towards the end of the first financial year, the next 18 months forecast is in two future fiscal years.
Budgeting Process Data Overview
General Ledger
Budget Enquiry &/or Update screen
DRAFT Ledger
BASE scenario Yr 1-20
ELT Ledger
BASE scenario Yr 1-20
FINAL Ledger
BASE scenario Yr 1-20
BASE Ledger
BASE scenario Yr
1-20
BASE LedgerINITIAL
scenario Yr 1‘SOURCE’ Ledger
nVision Reports
Query Reports
Crystal Reports
BASE LedgerINFLATION scenario
Yr 1-20
BASE Ledger‘XXX’ scenario
Yr 1-20
ELT Ledger‘XXX’ scenario
Yr 1-20
ELT LedgerINFLATION scenario
Yr 1-20
DRAFT LedgerINFLATION scenario
Yr 1-20
DRAFT Ledger‘XXX’ scenario
Yr 1-20
FINAL Ledger‘XXX’ scenario
Yr 1-20
FINAL LedgerINFLATION scenario
Yr 1-20Parameter Control
Page
Security
BASE LedgerINITIAL scenario Yr
2-20
BASE LedgerPROJECTS
scenario Yr 2-20
ELT LedgerINITIAL scenario Yr
1-20
ELT LedgerPROJECTS
scenario Yr 1-20
DRAFT LedgerINITIAL scenario Yr
1-20
DRAFT LedgerPROJECTS
scenario Yr 1-20
FINAL LedgerINITIAL scenario Yr
1-20
FINAL LedgerPROJECTS
scenario Yr 1-20
Forecasting Process Data Overview
General Ledger
Forecast Enquiry &/or Update screen
FORECAST Ledger
FORECAST scenario
P1 to 36
ACTUALS Ledger
Closed periods as part of month end process
nVision Reports
Query Reports
Crystal Reports
Parameter Control Page
Security
FORECAST Ledger
ACTUALS scenario
P1 to 12
BUDGETS Ledger
Fiscal Years 1 – 3
Summarised monthly
View Only
View
Update
First Forecast Period
Copied at end of budget cycle
Summary of modifications
An extension of existing budgeting function in PeopleSoft Financials V 8.4
Ledger Parameters Control Page Data Entry Pages (Financial); Budget and Forecast data Data Entry Page (Non-Financial) Summary Accounts Tree
Summary of modifications: Ledger Parameters Control Page
Ledger Parameters Control page: A new page to control which fiscal year, Ledger, scenario and period is available for change in the data entry pages.
Restricted access via specific security role
General Ledger Parameter Control Page
Budget data Entry
Two new pages in GL; one for viewing and updating budget data and the other for viewing and updating forecast data.
A new page has been created in Projects General Information to capture non-financial planning information
Budget data parameters page
Budget Date Entry Page 1
Budget Date Entry Page 2
Budget Date Entry – Non Financial Info
Non Financial Information Entry
Summary Accounts Tree
Where to next
Continuation process of improvement to meet new requirements
Upgrade to PeopleSoft Financial V.9: migrate customisation to new version
Budgeting module in Financial V.9?
Any questions or comments?
Private Bag 76917
Manukau City 2104
New Zealand
Ph +64 9 263 7100
www.manukau.govt.nz