Overview of Position Budgeting

The Position Budgeting (PB) module creates a budget for the next fiscal year based on the existing data from the Human Resource (HR) and Payroll modules. A model is created for PB and the data is imported into the model from HR and Payroll. Several models may be created and used simultaneously for various client-specific objectives. The PB system includes very flexible utilities that enable the imported data to be manipulated until you receive the desired budget results.

The following are features of the PB system:

• Automatically rolls changes made to salary and benefit tables through the system.
• Maintains salaries, benefits, and overtime based on full-time equivalencies (FTE).
• Supports salary saving calculations when installed with Payroll.
• Assigns salaries and benefits to multiple general ledger and job ledger accounts within a single position assignment.
• Automatically maintains salary step increases.
• Maintain salaries as annual, monthly, bi-weekly, or hourly figures.
• Defines benefits as a percentage of salary or as a straight-dollar amount. Different benefits can be defined for regular and overtime pay.
• Adjusts salary budgets up or down by a fixed percentage with "fudge factor Fudge factor is a variable component used in calculations that allows for a margin of error while producing a desired result. " capability.
• Ensures that assignments are date-sensitive (for example, you should reorganize next year's structure without affecting the current year).
• Sets salary and FTE limits at the job or position level.
• Creates a budget for unfilled positions (vacancies).
• Integrates with General Ledger, Budget Item Detail, and Job Ledger.
• Creates monthly or annual budgets based on position assignments.
• Sets up scenarios to adjust salaries by percentages and reports "what if" information.
• Maintains HR information for reporting purposes.