This project will assess the value of a potential interim budget and forecasting platform to address near-term challenges and if deemed appropriate, implement them accordingly.

Outcomes

Enhance and simplify the budgeting process:

  • Transition individual position budgeting from the current state Access database and non-salary budgeting from Budget Development/Banner to the FAST Budget and Forecasting Module.
  • Conduct forecasting activities within the new tool.

Improve user experience and reduce duplicate/manual efforts through:

  • A simplified user interface.
  • Budget capabilities within the solution which reduce reliance on asynchronous excel spreadsheets for analysis.
  • System driven reports and dashboards including status and workflows for approvals.

Enhance Controls:

  • Ability to apply controls and parameters over budgeting processes.
  • Workflows which allow sign-off and qualitative reporting to provide financial planning information.

Related Information