Public sector finance managers face increased pressure to manage their complex planning and budgeting processes in order to achieve the organization’s financial goals. However, public sector organizations face many challenges during the budget year. These challenges impact the budget development process and make it difficult to deliver a timely and effective budget without a significant burden on the organization’s executives and budget management team.
In order to meet the funding needs for new and existing programs and sustain compliance and regulatory requirements, as well as deliver transparency and accountability, public sector finance teams need a budgeting and forecasting solution that will integrate the processes from beginning to end.
Watch the taped session as we complete a walk through of the budget process from formulation to adoption and how each phase is easily managed in Oracle PBCS. John Regula, our speaker, presents the phases that, when implemented with PBCS, provides the functionality needed to efficiently move the Budget from beginning Goals to Adopted Budget. John showcases:
- Calendar & Budget Instructions
- Anticipated Goals / Budget Requests (Upcoming FY)
- Current Year Budget Update & 1-Year Forecast (i.e. General Fund)
- Review / Approval – Department Budgets (i.e. General Fund)
- Trial Budget & Preliminary Capital Improvement Program
- Proposed Budget & review
- Adopted Budget / Authority to Expend Appropriations
Plus, John shares how Oracle PBCS can help you:
- Reduce budgeting and planning cycles by weeks or months
- Improve forecast accuracy by gaining visibility into plan/actuals/budget/forecast comparisons
- Reduce the time spent on creating reports and budget books