9.2 Managing Project Costing Budgets

Purpose:  Use this document as a reference for managing project costing budgets in ctcLink.

Audience:  Finance/Grant Fiscal Staff

You must have at least one of these local college managed security roles:

  • ZZ Project Cost Entry-Maint
  • ZZ Project Costing Processing

You must also set these User Preference Definitions:

If you need assistance with the above security roles or User Preference Definitions, please contact your local college supervisor or IT Admin to request role access.

Managing PC Budgets

Navigation: Project Costing > Budgeting > Budget Plan

  1. The Budget Plan search page displays.
  2. Select the Add a New Value tab.
  3. Enter Business Unit.
  4. Enter Project.
  5. Select Add.
  6. The Budget Plan page displays.
  7. Enter Description.
  8. Select the Budget Detail icon.
Budget Plan page
  1. The Budget Detail page displays.
  2. Select the Budget Items icon.

If you have multiple Activities, select each Activity's folder icon to navigate to enter the Budget Item(s), Amount(s), and ChartString(s).  The example below lists two Activities; Applied Arts Remodel and Applied Arts Demo.

Budget Detail page
  1. The Project Budget Items window displays.
  2. On the Budget Items tab, enter or look up the Project Budget Item(s). Use the plus icon to add additional rows.
  3. Enter Spread Option = "Adjust by Amount".
  4. Enter Budget Adjustment amount for each Project Budget Item.
  5. Select the Distribute Budget button.
Project Budget Items
  1. A message window displays, 'New Budget Adjustment of X does not match the original Budget Adjustment of X.'
  2. Select Yes.
  3. The message window disappears.
Message
  1. The Project Budget Items page displays.
  2. Select the General Ledger Detail tab.
  3. Enter the Chartfield information for the Activity:
    1. GL Business Unit
    2. Operating Unit
    3. Fund Code
    4. Department
    5. Class Field
    6. Appropriation Index and/or Program Code, if applicable.
  4. Select OK.

NOTE:    Only the following Fund Accounts can be used within the Grants/Project Costing Modules:    057, 060, 145, 147, 253, and 357.  

general ledger detail tab on project budget items page
  1. The Budget Detail page displays.
  2. On the Budget Periods tab, select the Even Spread button for each budget line.
  3. Select Save.
select the even spread button
  1. The system spreads evenly the amount across the periods and updates the page from "Budget not eligible for finalization" to "Budget eligible for finalization".
  2. Select Return to Budget Plan.
Budget Detail
  1. The Budget Plan page displays.
  2. Select the Finalize tab.
  3. Select the Finalize button.
Budget Plan
  1. The system displays a Message confirming the Finalization process was initiated.
  2. Select OK.
  3. Select the Process Monitor link.
Message
  1. The Process List page displays.
  2. Select Refresh as needed to verify Run Status = "Success" and Distribution Status = "Posted".
  3. Navigate back to the Budget Plan to verify if the Budget posted.
Process List tab
  1. Back on the Budget Plan page, verify the Total Distributed Budget = Finalized Amount.
Total distributed budget and Finalized Amount values match
  1. Process complete.

Video Tutorial

The video below demonstrates the process actions described in the steps listed above. There is no audio included with this video. Select the play button to start the video.

VIDEO COMING SOON!

View Tutorial via Panopto

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