90.1.3 Define Project Budget
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90.1.3 Define Project Budget
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Business Process Overview
The Project Budget is a planned cost estimate and may be updated throughout the life of the Project, according to internal agency policy. The Project Budget does not consume Appropriation or Allotment Budgets, however, as Project transactions are posted in Florida PALM modules (e.g., Accounts Payable vouchers), Appropriation, Release, and/or Allotment Budgets will be consumed based on the Category and other applicable ChartFields used on the transaction.
Every Project established within Florida PALM must have a Project Budget recorded in the Project Costing module. The Project budget may be as detailed as needed for the agency to track, report, and analyze their project’s financial activity; however, all project budgets must include, at a minimum, GL BU, Fund, Budget Entity, Category and Budget Period. Similar to Allotments, Project Budgets will act as an enforcement of expending funds where it is budgeted. This means that an expense transaction must be entered with the same level of detail as the budget was established in the Project Costing module. A Project budgeted amount may be exceeded if sufficient Appropriations, Release and Allotments exist, however, a transaction may not be paid from a COA ChartField String not established within the Project Costing module.
Business Process Diagram
Business Roles
The Business Process Flow Diagrams use horizontal swim lanes to depict where activities are performed by different parties or systems. Each swim lane is titled with a role, either agency-based or within DFS, and in some cases, are representative of an external entity or system. The swim lanes may change from page to page within a single business subprocess as more or fewer roles are required to execute sections of the business subprocess.
- Agency PC Processor: agency role responsible for entering Project information and establishing the Project Budget within Florida PALM
- Agency PC Maintainer: agency role responsible for reviewing and approving a Project’s budget and establishing optional Project Costing ChartField values.
Business Process Flows Details
The tables below describe steps in each business subprocess as reflected on the Business Process Flow Diagrams. The tables also reflect information associated with each step describing the intent of the specific process. Florida PALM screenshots are included within the sections to allow connections to be made from specific business subprocess steps to screens within Florida PALM. This information should be read in conjunction with the Business Process Flow Diagrams.
Process Step ID | Process Step Title | Description of Process |
|---|---|---|
1 | Define Budget Plan | Project Budgets represent the estimated or planned costs associated with the Project. All projects require a budget to be established in order to transact successfully (refer to Figure 4). Agencies may create or update a budget online or through a spreadsheet upload. If creating a new Project Budget online, the Agency PC Processor will define the Project’s Budget Plan, including assigning a name, verifying the Budget Calendar, and entering the number of Periods in which the project will be paid. If updating an existing budget, the Agency PC Processor will select active budget details. |
2 | Add or Update Budget Item(s) | The Agency PC Processor will assign Budget Items from the predefined list to each Project Activity within the Project Budget Details. Each Activity may have one or more Budget Items assigned (see figure 5).
Agencies may choose to budget for Projects at the Tier 2 Budgetary Account level or the transactional account level depending on the level of control they wish to have on expenditure transactions passing budget check of the Projects Ledger (CC_PROJ). This ledger is Track with Budget and will require a budgetary line with the appropriate budgetary or transactional account value to pass budget check for expenditure transactions. |
3 | Record or Update COA Values | The Agency PC Processor will record COA values for each Budget Item assigned. Each Budget Item may have multiple lines if needed to capture the funding information for the budget item (see figure 6). NOTE: Project Budgets must include the GL BU, Fund, Budget Entity, Category, and Account values at a minimum. If an agency adds additional ChartField values within the Project Budget, the expenditure transaction must match those additional values, or it will fail. |
4 | Run Edit Check | The Florida PALM system will run the edit check process. |
5 | Resolve Errors | Agency PC Processor will review the edit message and make corrections to all invalid ChartField values. |
6 | Record Amount | Agency PC Processor will select the spread option that best meets their needs to record the budgeted amounts for each Activity and budget item. Spread Option determines how the amount is entered such as by amount or percentage. To add additional budget, add additional budget item(s) and record COA values refer to step 2. |
7 | Distribute/Adjust Budget Period Amount | The Agency PC Processer will distribute or adjust the budgeted amounts across the budget periods, if applicable. Adjustments can be completed at any time over the lifetime of the project (see figure 7). The system will allow an even spread of the budget amount across periods, or the user may update the amount for each period using the Adjust Budget Period screen. |
8 | Review Project Budget Plan | Agency PC Maintainer will review and monitor pending budget plans per the agency’s policies and procedures. There will not be a system notification. |
9 | Notify Agency PC Processor | If the Agency PC Maintainer identifies a need for updates to the project budget, the Maintainer will notify the Agency PC Processer per the Agency’s internal process and the Agency PC Processor will return to step 2 to make updates as needed. |
10 | Finalize Project Budget | Agency PC Maintainer will finalize the project budget once all budget details have been confirmed. The Budget Finalization process will create the budget journals that are recorded on the CC_PROJ ledger within Commitment Control. After finalization, adjustments to the budget must be completed by selecting active budget details “step 11”. |
11 | Select Active Budget Details | If updates to existing budgets are needed, the Agency PC Processor will record all budget details directly into the Florida PALM system. If updates to the COA coding are required, the Agency PC Processor will record or update COA values refer to step 3. If adjustments to the budget period are needed, the Agency PC Processor will add a new budget period and distribute amounts to the new period refer to step 12. If an Agency needs to update the amounts for existing budget periods, they will use the Distribute/Adjust Budget Period Amount refer to step 7 . |
12 | Add New Budget Period (PCE002) | Agency PC Processor will use the Update Budget Period link to add additional budget periods, as applicable and will then return to step 7 to distribute budget to the new budget period. |
13 | Inbound Project Costing Budget Spreadsheet Upload (PCI008) | Agencies may create a budget using the Project Budget Upload Spreadsheet, PCI008, in lieu of online entry. This Spreadsheet upload will allow a user to create or update a single Project’s budget or multiple Project’s budget within the Project Costing module. |
14 | Perform Interface Error Checking | The Florida PALM system will perform interface error checking. If the file is rejected, all transactions in the file are rejected and the file must be resubmitted once the issue is resolved. If the file is not rejected, edit validations are performed on each transaction before the data is allowed to load for processing in the Project Information Pages. Additional edits will be performed during the transaction life cycle. Rejected transactions are managed through the 120.1 Interface Error Handling Process. This error checking process will validate the following information for Project Information:
|
15 | Load Project Budget Information | The Florida PALM system will load project information from the interface record. |
16 | Finalize Project Budget | Upon successful load of the Project Budget, the upload process will systematically Finalize Project Budget and send budget journals to the CC_PROJ ledger within Commitment Control. |
17 | Manage Budget Exceptions | If any transactions failed the budget finalization process and budget journals are not created, the Agency PC Maintainer will manage and correct budget exceptions directly from the Manage Budget Exception page within Project Costing. Once the exceptions have been corrected, the Agency PC Maintainer will re-Finalize the Budget. |
18 | Outbound Project Information Extract (PCI001) | General Project, Activity and budget information will be available from Florida PALM Project Costing module through the PCI001. |
Define Budget Plan
Assign Budget Items
Add COA values
Distribute/Adjust Budget Periods
Accounting Events
Accounting events originate during transaction processing in the applicable source module. The accounting events impact the source module, Commitment Control ledgers, and the General Ledger (Actuals).
- Source Module accounting entries require user input (I) of the primary line (i.e., expenditure, revenues) with an automated (A) system offsetting line (i.e., payable, receivable) during transaction entry. The source model transaction must pass Edit Check, Budget Check, and Cash Check (on applicable entries) prior to posting the transaction.
- The Run Budget Check (Commitment Control) process automatically affects balances in the appropriate budget ledger (i.e., appropriation, spendable cash) if the transaction passes the budget check process.
- After the transaction is posted in the source module, an automated system process summarizes and posts the entries in the General Ledger module to the Actuals Ledger.
The table below provides the most common accounting events applicable to this business process.
Acct Event ID | Accounting Event | Commitment Control Ledger(s) Impact | Source Module Accounting Entry | General Ledger (Actuals) Entry |
|---|---|---|---|---|
PC01 | Establish Project Budget | No Entry | Increase/Decrease Project Obligation Balance | No Entry |
Reports
Key Reports are displayed as icons with the Report Number on this Business Process. The table below provides the reports identified to be produced at a particular process step or is used to support the completion of a process step.
Report Number | Report RICEFW ID | Report Description | Report Source | Report Frequency | Audience |
|---|---|---|---|---|---|
N/A | N/A | N/A | N/A | N/A | N/A |
Interfaces
The table below provides the Interfaces identified on the Business Process.
Interface Number | Interface Description | Interface Frequency | Source | Target |
|---|---|---|---|---|
Outbound Project Information Extract - Outbound interface containing an extract of project information to agency business systems. | Daily | Florida PALM | Agency Business System | |
Project Costing Budget Spreadsheet Upload – Inbound interface that provides project budget information via spreadsheet (Excel) upload. | Daily | Agency | Florida PALM |
Forms
The table below provides the forms identified on this Business Process.
Form Number | Form Description | Audience |
|---|---|---|
N/A | N/A | N/A |
Workflows
The table below provides the workflows identified on this Business Process.
Workflow Number | Workflow Description | Audience |
|---|---|---|
N/A | N/A | N/A |
Version History
Date | Revision Description |
|---|---|
06/27/2024 | Original Version |
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