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HES Finance Systems Network Case Studies in University Finance Hyperion Budget Tool - QUT

HES Finance Systems Network Case Studies in University Finance Hyperion Budget Tool - QUT. Patricia Alner, Director Planning & Budget Dean Gordon, Management Accountant QUT Finance & Resource Planning 5 March 2013. Hyperion Overview.

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HES Finance Systems Network Case Studies in University Finance Hyperion Budget Tool - QUT

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  1. HES Finance Systems NetworkCase Studies in University FinanceHyperion Budget Tool - QUT Patricia Alner, Director Planning & Budget Dean Gordon, Management Accountant QUT Finance & Resource Planning 5 March 2013

  2. Hyperion Overview • Hyperion is QUT’s budget tool, implemented in July 2011 (replacing OFA - Oracle Financial Analyser). • Hyperion is an Oracle based product (using Hyperion Planning and Essbase) to deliver a “Web-based and Excel planning, budgeting and forecasting solution”.

  3. Main Benefits of Hyperion • Supports QUT’s decentralised budgeting process • Standardises and streamlines budgeting practices across QUT • Allows for faster budget entry and consolidation • Governance bodies have greater confidence in budget submissions, particularly with improved accuracy in employee budgets (uses a detailed bottom-up approach)

  4. Hyperion Interfaces • Interfaces with other QUT Systems: • from both Alesco (Talent2) for employee/payroll details and Oracle Financials for all actual G/L transactions • toFinance Portal (web based reporting tool) for all approved budgets and the current Rolling/Working budget • Uploads (via ODI) occur on a nightly basis

  5. Hyperion Modules and Interaction • There are 2 main modules used for budgeting in Hyperion: • 1) Employee Module • Down to individual position/employee budget per costcode • 2) P&L Module • Down to individual G/L budget per costcode • The budgets entered by users in the Employee Module links directly to the P&L Module (mapped to the employee expense G/Ls) • Note: there is also a Balance Sheet (and Cash Flow) module, used by FRP for Committee reporting purposes

  6. Hyperion interfaces and interaction 6 2 4 5 1 Hyperion 3 Alesco (HR) Position/Employee appointment details and payroll Workforce Module P&L Module Oracle Financials Current Year Actual G/L transactions (non payroll) Capital purchases Balance Sheet Module (and Cash Flow) Financial Portal Budget/Final and Rolling/Working

  7. 2013 Budgeting Scenarios/Versions Reforecast/Budget Scenario Version Rolling (starting point previous Budget/Final) Working 2013 Mid-Year Reforecast (May-Jun) Mid-Year (Reforecast) Working Mid-Year (Reforecast) Final Rolling (starting point Mid-Year Ref & any amendments) Working 2014-2016 Consolidated/ Triennial Budget (Sep/Oct) Budget (Consolidated) Working Budget (Consolidated) Final

  8. Tools for entering budget data/reporting • Users have two options, depending on their preference: 1) Web front end • Set of budget entry forms (screenshots over) • Set of standardised reports (HR and P&L) 2) SmartView (Excel based add-in) • Same set of forms and standardised reports used in Web front end; and • create/save adhoc reports for analysis/ reporting (screenshots following)

  9. Employee Module Global Values are used for all salary rates (ongoing and casual) and oncosts, including provision for EBAs.

  10. Employee Module Budget Entry Form (Position Detail and Positions Budget) Each budgeted employee has a classification and a FTE (per month)

  11. Employee Module Ability to easily review budgeted employee costs (for any scenario/version for any costcode)

  12. Employee Module  P&L Module Employee Module feeds into P&L Module (mapped to G/L)

  13. P&L Module P&L Budget Entry Form (for revenue, non-employee module expenses and capital purchases)

  14. Standard Reports Set of HR Reports are available to all users

  15. Standard Reports Set of P&L Reports are available to all users

  16. SmartView Overview • SmartView (Essbase) is a multi-dimensional relational database, in which users specify dimension values to return a desired query result. • Users can query either the Employee or P&L module. Essbase Entity Account Job Cost Code View Year Type Scenario Period Version (Activity)

  17. SmartView Adhoc Reporting • Employee query – allows for comparison of actuals to budgets (can drill down to lowest level of each dimension) Each module has a number of dimensions to query

  18. SmartView Adhoc Reporting • P&L query – allows for comparison of actuals to budgets (can drill down to lowest level of each dimension) Each module has a number of dimensions to query

  19. Assessment to Date / Short Term Initiatives • Positive feedback across all levels: • Budget and Finance Officers (ease of use); • Faculty/divisional managers (allows for more accurate budgeting and deeper analysis); • Central Finance (faster reconciliation; focus has changed to analysing outputs, rather than the process of data collection); and • Governance Committees (greater confidence; better reporting informs strategic decision making). • Deploying Rolling Forecasts • Combined Data Reporting using Essbase, encompassing student load, financials and FTE

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