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Budget Monitoring and Reforecasting in Hyperion Planning

Budget Monitoring and Reforecasting in Hyperion Planning. Session #25827 March 11, 2008 Alliance 2008 Conference Las Vegas, Nevada. Dr. Andrew Harker Director of Budget Management Alice Lau Principal Financial Information Analyst. Overview.

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Budget Monitoring and Reforecasting in Hyperion Planning

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  1. Budget Monitoring and Reforecasting in Hyperion Planning Session #25827 March 11, 2008 Alliance 2008 Conference Las Vegas, Nevada

  2. Dr. Andrew Harker • Director of Budget Management • Alice Lau • Principal Financial Information Analyst

  3. Overview • Using Hyperion Planning, Stanford has brought discipline to its on-going budget monitoring and reforecasting processes with more utility and less pain than using Excel • We have a process that facilitates financial information flow up and down the decision-making hierarchy

  4. Use of Oracle Systems • Oracle EBS for Financials (GL, GA, AP, AR, PO, LD) • Peoplesoft for Student Information and HR • Hyperion Planning for Budget entry and Monitoring • Business Objects and Hyperion Interactive Reporting as interface into Data Warehouse

  5. Budgeting at Stanford • $3.5B in Revenues and Expense • ~30 decentralized budget units • All funds budgeting • What we call the “Consolidated Budget” • “Crosswalking” between external (GAAP) financial reporting and internal (fund accounting) financial reporting

  6. Concepts/Rationale • Hyperion is an excellent tool for analysis of summarized data • Generates fast results for known retrieval patterns • Can present both Consolidated Budget and Statement of Activities views • Consolidation of all units is easy • Good roll-up and drill-through capability • We design standard reports and data entry forms/templates for all the units to use • It can facilitate quarterly budgeting and variance reporting • Pre-Oracle: from 1995-2003 we had, via Pillar & UDW, a mechanism units used for budget, actuals, and reforecasting analysis; we wanted to give this utility back to the users

  7. Variance Analysis & Reforecasting Process • Stored within Hyperion: • 9/1 Consolidated Budget (12 months of data from Budget cycle) • Actuals (e.g. Sep ~ Mar of Actuals from Oracle) • Goals: • To identify and analyze variances from budget • To create a Rolling Forecast (Sep ~ Mar Actuals + Apr ~ Aug Budget) with capability to adjust remaining budget numbers

  8. Bus Objects Query Oracle (Actuals) Star Schema Bus Objects Collection Hyperion (Budgets) Star Schema DSS Excel UBO reviewed each SS and then loads into Hyperion Units emailed Excel SS to UBO Analysis by Units Visual Basic Macro Variance Report Spreadsheets Previous Variance Analysis Process Data Warehouse

  9. The budget monitoring process using Hyperion Reportmart3/DSS Oracle (Actuals) EDW UBO enters “top-down” forecast/budget into Hyperion Hyperion Analysis by Units Since Hyperion will only hold data at a certain level of detail, RM3/DSS can provide queries for analysis when more detail is needed Units enter their analysis/forecasts into Hyperion Ad-hoc analysis & reporting Budget, Variance, & Reforecast Reports (printed & on-line)

  10. The Hyperion Workspace Reports for the users to see Access to reports controlled by security Reports for use by the Budget Office

  11. Consolidation & Distribution The system has an organizational outline/hierarchy that facilitates drill-down and drill-up

  12. Organization of the Data • Data is entered and stored in the system by: • Budget Unit • Fund Type • Year • Scenario • Version • Budget Category

  13. The Variance Report

  14. Viewing information by fund type

  15. The Consolidated Budget Report

  16. Changing your view on the fly Select a different organizational unit

  17. Developing reports for analysis

  18. Looking at Historical Progression

  19. Delving into the data

  20. Creating analytical reports

  21. Investigating the data

  22. Investigating the data A hyperlink launches another report that shows where this data comes from

  23. Units submit their analysis text via Hyperion

  24. Reports to aid in reforecasting

  25. Questions?

  26. Contacts • Andrew Harker, Ed.D. • Director of Budget Management • University Budget Office • Stanford University • E-mail: aharker@stanford.edu • Alice Lau • Principal Financial Information Analyst • University Budget Office • Stanford University • E-mail: alicelau@stanford.edu

  27. This presentation and all Alliance 2008 presentations are available for download from the Conference Site Presentations from previous meetings are also available

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