Budget vs Actual Monthly Variance Detail Report

The Budget vs Actual Monthly Variance Detail report was developed to help unit managers more efficiently manage their spending. This view provides expanded functionality and more detailed expense-focused insights when compared to the existing Budget vs Actual report.

The report presents budget and actual expense data in a table format, divided into six separate pages. The pages offer two different views: a detailed view, which includes posting-level information for Fund and Project, and a condensed view. The data is displayed across three time spans: Period, Year-to-Date (YTD), and Annual.

Expanded functionality includes:

• In-page Accounting Period and Fund L3 prompt (re)selection
• Detailed (including posting-level Fund and Project) and Condensed views of:
  • Period Budget vs. Period Actual
  • Annual Budget vs. YTD Actual
  • YTD Budget vs. YTD Actual
• Drill down on Actual data within each page to view associated transaction level General Ledger details

This report uses the Managerial Fund hierarchy and excludes the Internal Loan Fund, 13042.

NOTE: When loading budget data to the Oracle General Ledger and the Financial Activity Hub, we exclude a subset of Non-Core Funds budget data. See below for the Funds excluded from the Non-Core Fund Grouping and rationale.

This report can be run to answer the following questions:

• How is my Financial Unit or Project performing compared to budget?
• What are the General Ledger (GL) transactions that make up the actual values for my Financial Unit?
• How much of my annual budget have I spent year-to-date (YTD)?

• The General Ledger Inquiry and Reporting JR and BI Consumer JR user roles in OFC are required to access the report. To request access, submit the Oracle and Concur Role Requests Form.
• The Fiscal Year, Accounting Period, and at least one of the Financial Unit prompts must be populated with a selection to generate the report. The Fund and Project prompts are optional.
• The prompt fields include:
  • Fiscal Year
  • Accounting Period
  • Financial Unit
  • Fund
  • Project
• Report rows reflect groupings within the Managerial Reporting Account Hierarchy, not the standard financial account hierarchy.
• FD_13042: Internal Loan, is excluded from this report as it is not included in the Managerial Reporting Fund Hierarchy.
• The report includes Expense information only. For Resource, Change in Net Position, and Resources Available information, use the standard Budget vs Actual Report.
• The Actual column values within each page are hyperlinks that drill into a secondary report, GL Transaction Details, to provide the user with the individual transactions that comprise each Managerial Accounting L5 amount.

Definitions:

Total Expenses (Account 5xxxxx and some Account 7xxxxx) are either Period or YTD amounts based on the page view and Accounting Period selected in the user prompt.

Fiscal Year and Accounting Period

1. Enter the desired Fiscal Year (YYYY) and Accounting Period (Mmm-YY) using the drop-down list for each prompt. Proceed to the Financial Unit prompt.

Financial Unit

1. Users can select from four levels of the Financial Unit hierarchy: VC Area (L2), School/Division (L3), Department (L4), Posting Level.
2. Make a selection for only one of the four Financial Unit prompts. Your Financial Unit selection will be indicated by a checked box.

Fund

1. The Fund prompts are optional. Users may choose from either Managerial Fund L3 or L6 only, or the user can leave both prompts unselected to run the report for ‘All Funds’.
2. Users can select from four types of the Managerial Fund L3 hierarchy: Contracts and Grants, Core Funds, Other Unrestricted Funds, Restricted Funds.
   1. The report can be run for a single, multiple, or all Fund types.
   2. The report can also be run for single or multiple Posting level Funds (L6) of the Managerial Fund hierarchy.

Project

1. The Project prompts are optional. Users may choose from either Project Department Reporting Category or Project. The user can leave both prompts unselected to run the report for 'All Projects'.
   1. Both Project prompts are multi-select enabled.

Once all Prompt selections are complete, click Finish to generate the report.

The report output displays 6 separate tabs which can be selected at the bottom of the report:

1. Fiscal Period Budget vs. Actual – Detailed
2. Fiscal Period Budget vs. Actual – Condensed
3. Annual Budget vs. YTD Actual – Detailed
4. Annual Budget vs. YTD Actual – Condensed
5. YTD Budget vs. YTD Actual – Detailed
6. YTD Budget vs. YTD Actual – Condensed

To export the report in PDF, Excel, or CSV, click on the down arrow next to the play button and select your desired output.

Refer to the Data Glossary under Get Started on the main BI & Financial Reporting Blink menu for searchable data descriptions and usage rules.

Each page features an Actuals column with hyperlinks to General Ledger (GL) Transaction Details, which provide a breakdown of the values displayed for each Managerial L5 Account category. When clicked, these hyperlinks will direct you to transaction details that are either period-specific or year-to-date, depending on the page from which the link is accessed.

GL Transaction Drill Thru – Period

GL Transaction Drill Thru – YTD