Creating An Advanced Budget

Owned by joe.pernick (Deactivated)
Last updated: Mar 01, 2024
5 min read

An Advanced Budget allocates funds to a group based on their requests, operating on either a time-bound or rolling basis. This budget allows groups to submit multiple requests, each containing specific line items with associated amounts. An Advanced Budget incorporates a multi-step approval process to approve, deny or partially fund each line item. Upon approval of a budget request, groups can then request payments when the time comes.

Creating an Advanced Budget

  1. Navigate to Admin > Money > Budgets

  2. Click on Create Budget or edit an existing budget

  3. Edit the Budget Details:

    • Include the Name of the budget - be sure to include the timeframe and source in the name

    • Select Advanced Budget as your Budget Type

    • Set a Total School Allocation - As you approve of budget requests, this number will be subtracted

    • The Budget Status will be configured at a later point

    • Set a date for both the Budget Start Date and the Budget Archive Date

    • Select which Group Types or individual Groups are eligible for this budget

    • Add in your Budget Administrators - Users who have the permission to approve budget requests

      • Administrators with the Money permission already have the right to approve and administer budgets

  4. Add in any custom Budget Instructions

    • These custom instructions will display for Users throughout the Budget Request Process

  5. Edit Advanced Settings

    • Select which Budget Item Types are eligible for this budget

      • These are the line items for each request and can be customized in Admin > Settings > Custom Values

    • Attach a custom supplementary form that will be used anytime a group submits a Budget Request

    • Set the optional and mandatory fields that a user needs to complete when submitting a Budget Request

    • If the Payment Request Approval Form/Survey is left empty, all Payment Requests will go through the default Payment Approval Process, otherwise this setting will override the default form

    • Set the optional and mandatory fields that a user needs to complete when submitting a Payment Request for this Budget

  6. Set the optional and mandatory fields that a user needs to complete when submitting a Budget Request

  7. Click Save

  8. Set up a Payment Approval Process

Customize Budget Steps

The Budget Approval process can be customized with multiple stages to allow for the flexibility to limit users to only certain functions in certain stages (i.e. Create Budget Request, Review and Approve Budget Request, and Request Payment).

Follow these steps to customize the Budget Steps:

  1. Navigate to Admin > Money > Budgets > Select your Advanced Budget

  2. Click on Budget Steps

  3. Select Edit to customize each step or use the drag and drop button to reorder the list

  4. Edit the Budget Settings

    • Add a Step Name

    • Add a Description for the step

    • Select the Type to limit what users are able to do during the step

      • Submission: Group officers can submit budget requests.

      • Approval: Budget administrators review submissions and approve/reject the amounts requested.

      • Payments: Group officers can submit payment requests and budget administrators can approve/reject.

      • Rolling: Group officers can, at the SAME TIME, submit budget requests and request payments, and budget administrators can review submissions and approve/reject the amounts requested.

      • Rolling Without Payments: Group officers can, at the SAME TIME, submit budget requests, and budget administrators can review submissions and approve/reject the amounts requested.

      • Closed: No budget requests, approvals, payments can be made anymore.

    • Set a Deadline for when the step will automatically transition to the next step

      • You can manually which the Budget Step in the Budget Settings

    • Turn On Approval is used for any steps that include the ability to submit a Budget Request and will allow Admins to require a specific officer position to approve of any requests sent by that group

 

Set up Budget Custom fields

The Budget Custom Fields provide a customizable framework to optimize your budget management and tailor your instance to the unique financial needs of your institution. These can all be customized by navigating to Admin > Settings > Custom Values.

The Custom Values that are relevant to the Budgeting Module are the following:

  • Budget Request Type

    • Found when submitting a Budget Request, this value is the category of the request (e.g. Event, Professional Development, etc.)

  • Budget Item Type

    • Found when submitting a Budget Request, this value is the individual line items for the request (e.g. Food and Drink, Travel, Advertising, etc.)

  • Priority

    • Found when submitting a Budget Request, this optional setting is the priority of the request (e.g. Purchasing/Spending, Reimbursement, P-Card, etc.)

Please contact support@campusgroups.com with any questions