Project Records

Use the Project Table page to search for, view, update, and add records at the lowest level in your project accounting reporting structure. Budgeting of revenues and expenditures occurs at the lowest level.

In addition to the reporting structure information stored in Fund Accounting, Budget Preparation's Project List has fields for budget increase and decrease percentages at the Requested, Recommended, and Future Year budget levels.

If you want to associate budget projection percentages with your Project List records, you can do so by updating individual projects or by doing a mass update. The mass update procedure is described later in this section.

For information on adding, updating, deleting, and printing Project List records, refer to the standard procedures in the opening section of this chapter, Overview of Reference Tables. The default file name of the Project List report is projlist.rpt.

Note

Budget projection data is not copied into Budget Preparation through the extraction process since it is not stored in Fund Accounting.

Menu Path:  Budget Preparation > Reference Tables > Reference Tables > Project List

Action Bar Items

The Action Bar on the Project Table page includes the following items:

Mass Update Enables you to apply budget increase/decrease percentages to multiple projects. For information on this option, refer below to the section Performing a Mass Update.Project Components Displays the Project Table components page, where you can access and update project records at the highest and intermediate levels in your project accounting reporting structure. For information on this option, refer to Project Components.

Setting Up the Project List

Because Budget Preparation's Extract Information option copies Project List records from Fund Accounting, you most likely will not need to use Budget Preparation's Project List option to enter your entire project reporting structure. However, if the Project List is not established in Fund Accounting, you must set up the table in Budget Preparation.

Using Project List Budget Projections

For the most part, you will use the Project List to associate budget projection percentages with levels in your project reporting structure. Your budget administrators can then use the Budget Administrator center's Apply/Move Budget option to apply Project List percentages to calculate projections at the Requested, Recommended, and Future Year budget levels.

Following are some Important points to keep in mind regarding the calculation of budget projections based on settings in the Project Table page's Budget Projection tab.

Percent of Current Year Completed

This setting determines the Current Year Estimate (or Projected) value for ledger accounts at the Requested level. The formula for calculating the current year's estimated expenditures or revenues is:

Current Year YTD ÷ Percent of Current Year Completed

For example, if the Current Year YTD is 75,000 and the Percent of Current Year Completed is 50%, the projected value is 150,000 (75,000 ÷.50).

The Percent of Current Year Completed field also appears in Account List records. If percentages are stored in both the Project List and Account List, the system adds the two. We recommend that you enter the percentage in one of the tables and leave the other at its zero default.

Requested Percent Increase Or Decrease and Recommended Percent Increase Or Decrease

These fields determine increases and decreases for ledger accounts at the Requested and Recommended levels. The system uses the following formula in its calculations:

Current Year Budget x (1.00 + Percent Increase/Decrease)

For example, if the Current Year Budget is 10,000, and you project a 5% increase, the calculation is 10,000 x (1.00 +.05) = 10,500.

The Percent Increase/Decrease settings also appear in Account List records. If percentages are stored in both the Project List and Account List, the system adds the two. Generally, we recommend that you enter the percentages in one of the tables and leave the other set to its zero defaults.

Future Year Percentage Estimates (2nd Year - 5th Year)

The settings in this section enable you to project budgets for the four years following the immediate budget year. In calculating future projections, the system updates the Future Year fields in ledger accounts using the following formula:

Highest Level Budget Available x (1.00 + Future Year Percentage)

The highest level budget can be one of the following:

• Current Year Budget (lowest level)
• Requested Budget
• Recommended Budget
• Approved Budget
• Future Year Estimate (highest level)

For example, if the Current Year, Requested and Recommended budgets are the only budgets set up so far, the system will use the Recommended budget to calculate the 2nd year estimate. It will then use the 2nd year estimate to determine the 3rd year estimate, and so forth. At each step, the system applies the Future Year Percentage for the corresponding year and the highest level budget stored for the current budget year.

The percentages used in these calculations can be entered in both the Project List and Account List. If percentages are stored in both tables for a particular future year, the system adds the two when it performs the calculation. Generally, we recommend that you enter the percentages in one of the tables and leave the other set to its zero defaults.

Performing a Mass Update

Use the Mass Update item on the Project Table page's Action Bar to make or change budget projection information for a group of records all at once. If you are making the same projections for most of your Project List records, we recommend that you first perform a mass update, and then access and change individual records that use different projection figures.

Updating projections for a group of Project List records

1. Select Budget Preparation > Reference Tables > Reference Tables > Project List to display the Project Table page.
2. On the page's Action Bar, click Mass Update to display the Project Table mass update page.
   The Mass Update item is only available when you are in the initial Project Table page's Search Criteria section.
3. In the mass update page's General, Reporting Structure, and Project Information tabs, enter selection criteria identifying the records to update.
   To apply projections to all project records at the lowest reporting level, leave the search fields blank.
4. Click OK when you finish entering your criteria.
5. In the Budget Projection Information and Future Year Estimates sections, enter the budget projection percentages you want to apply to the selected project records.
   • Enter percentages in decimal format. For example, enter 5% as.05.
   • Use the minus sign in front of the percentage to indicate a decrease. For example, enter a 5% decrease as -.05.
   • The system overwrites fields in the selected records with the percentages you enter.
   • You only need to complete the fields you want to update. For field descriptions, refer below to the Budget Projection Tab section. Note that the mass update version of the Project Table page does not use tabs.
6. Click OK.
7. In the Confirmation dialog, click Yes to update the selected project records.

The Project Table page's detail section has three tabs, one for storing the data identifying the project record, one for defining the higher-level project components associated with the project, and one for entering budget projection information.

Fields

Reporting Structure Tab

This tab contains two sections, one for the higher-level project components associated with the project record and one for additional project settings. The number of reporting level fields depends on the project accounting levels defined in the Budget Preparation Profile.

Project Information Section

Budget Projection Tab

This tab enables you to define percentages for projected budget increases or decreases at the Requested, Recommended, and Future Year budget levels.

Except for Prior Year Project Code, all of these fields accept eight digits, six of which follow the decimal point. Enter percentages as decimals. For example, enter 5% as 0.05.