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1.Introduction

  • Budget management helps to get complete budget visibility in seconds, view requisitions pending approval, and transactions approved against your budget.
  • Budget is an operational plan, for a definite period usually, a year expressed in financial terms and based on the expected income and expenditure.


1.1. Purpose of the Budget Management System

  • Enhances fiscal planning and decision making.
  • Clearly recognizes controllable and uncontrollable cost areas.
  • It helps to identify problem areas and facilitates effective solutions.
  • Provides means for measuring and recording financial success with objectives of the university.
  • Needed for planning the future courses of action and control over all activities in the university.
  • Facilitates coordinating operations of various departments and sectors.
  • It helps to weigh values and make decisions when necessary.


1.2. Types of Budget

1.2.1. Income and Expenditure Budget

  • sets out the anticipated (recurrent) costs of the University/institutions and shows the source of funds to cover them.
  • annual income and expenditure budget is often broken down into shorter periods for better monitoring

1.2.2. Capital Budget

  • Budget for capital projects and acquisition of equipment or fixed assets
  • need a separate budget and monitoring because it usually involves major expenditure items and non-recurrent costs
  • need to consider the effect of capital investment on recurrent cost • e.g., Vehicles, building hospital, medical equipment


1.2.3. Cash Budget (Cashflow Forecast)

  • aims to monitor the availability of cash: whether sufficient cash is available in the bank to meet the payment needs as they arise
  • based on the income and expenditure budget and capital budget.


1.2.4 Dashboard

Real-time budgeting application dashboards are actually a budget meter that helps with managing the current spending, estimates, grants, etc. You can view all the estimates and also use a drop-down menu to select a particular fiscal year.



2. Settings


This section contains the configuration detail related to the Budget Management module.
Only the admin with the rights of Budget_Admin can view and access it.

2.1.University Grant

In this field, all the University Grants are created.

  • Admin can add a new type of University Grant by clicking on the "Add University Grant" button present on the top right side of the portal and fill in the required details:
  1. Name
  2. Description
  3. Type(Select from the drop-down)
  4. Status(Inactive/Active)

Admin can only view the details by clicking on icon available in front of every entry.

  • Admin can edit/update the details by clicking on the icon available.



2.2. Financial Years

In this field, all the Financial Years will be listed.

  • Admin can add a new financial year by clicking on the "Add Financial Year" button present on the top right side of the portal and fill in the required details:-
  1. Financial Year
  2. Status(Inactive/Active)

  • Admin can view the details by clicking on icon available in front of every entry.

  • Admin can edit/update the details by clicking on the icon available.

2.3. Budget Heads

In this field, types of Budget Heads in which the university grants will be captured are mentioned.

  • Admin can add a new type of Budget Head by clicking on the "Add Budget Head" button present on the top right side of the portal and fill in the required details:-
  1. Name
  2. Description
  3. Grant Name
  4. University Deduction (in %)
  5. Can Draw Advance
  6. Status(Inactive/Active)


  • Admin can view the details by clicking on icon available in front of every entry.


  • Admin can edit/update the details by clicking on the icon available.






3. Budget Estimate


In this section budget estimates is a capture. The department admin will give a budget estimate to the finance department/admin for the approval process.
As OCM_Admin login:- admin can add budget estimate, update it, and can approve it. While adding estimates system will ask the OU name and can see the budget estimates of all the departments.

As OCM_Dept login:- the Department admin can add a budget estimate, update it and send it for approval. The only difference is that while adding it does not ask OU name and the department admin can see all the budget estimates of his/her department only.

3.1. Add Estimate

OCM_Dept/OCM_Admin can add estimate by clicking on the "Add Estimate" button present on the top right side of the portal and fill in the required details:-

  1. Organizational Unit(OU)(Select from the drop-down)
  2. Financial Year(Select from the drop-down)
  3. Budget Head(Select from the drop-down)
  4. Actual(Will be fetched automatically from the previous fiscal year grant)
  5. Additional
  6. Revised
  7. Reason For Revision

As OCM_Admin:-

As OCM_Dept:-


3.2. Update

Admin can update/edit the details by clicking on the update button.

3.3. Approve Estimate

When Dept admin finally submits the details after adding/editing then it goes to the finance department for approval. Finance department having the role of admin can approve the budget by clicking on the "Approve Estimate" button and fill in the required details:-

  1. Budget Allocated(It can be less than estimated)
  2. File Reference Number
  3. Budget Approved on(Select from the calendar)
  4. Budget Status(Select from dropdown)

Note

Once the Approve Estimate button is clicked changes cannot be done at the admin side.


4. Budget Granted


From here the admin(Department as well as finance officer/admin) can monitor the budget expenditure, advance, and transfer.



Note

When the budget gets approved, it doesn't need to be the same budget as estimated.


 


After the budget is estimated and get approved, then the budget is granted in three ways:

  1. For Expenditure(the amount is deducted from the account but the bill gets approved later) ie. icon.
  2. For Advance(the amount is deducted as advance only after approval) i.e. icon
  3. For Transfer(can transfer funds from one budget head to another if required and approved)i.e. icon.

5. Budget Expenditure

5.1. Add Expenditure

OCM_Dept admin can add expenditure by clicking on the icon present in front of every entry and fill in the required details:-

  1. Item Purchased
  2. Vendor Details
  3. GST Number
  4. Price
  5. Quality
  6. CGST
  7. SGST
  8. IGST
  9. Bill Amount
  10. Bill Date
  11. Bill Number
  12. Bill Diary Number
  13. Payment information
  14. Description
  15. Bill upload







Click on the "Submit for approval" button. Once done the amount is deducted from the balance in the budget head and the bills are approved later so the status remains pending.


5.2. View

OCM_Admin/OCM_Dept can view the details by clicking on icon available in front of every entry.



5.3. Approve Expenditure

Once the expenditure is submitted by the department, OCM_admin can approve/reject it by filling in the necessary details:-

  1. Status(from pending to Approve/reject)
  2. Remarks(If any)
  3. Settled On(Select date from a calendar)




6. Budget Advance

  • Suppose there is a requirement of the amount to be used other than the expenditure, then the Department admin can any time request for the advance amount, but it can be granted only after approval.

As OSM_Dept:-

As OSM_Admin:-


6.1. Request Budget Advance

OCM_Dept admin can request for the advance budget by clicking on the icon present in front of every entry and fill in the required advance.

6.2. View

OCM_Dept/OCM_Admin can view the details by clicking on icon available in front of every entry.

6.3. Approve Budget Advance

once the advance amount is submitted by the department, OCM_admin can approve/reject it by filling in the necessary details:-

  1. Status(from requested to Approve/reject)
  2. Remarks(If any)
  3. Approved On(Select date from a calendar)



7. Budget Transfer

  • Suppose in one budget head the funds are not enough, then the department admin can transfer the fund from another budget head of his/her department if that budget head has enough amount as per the requirement. The department admin can any time request for the transfer of amount but it can be transferred only after approval.


As OSM_Dept:-

As OSM_Admin:-

7.1. Request Budget Transfer

OCM_Dept admin can request for the transfer of budget by clicking on the icon present in front of every entry and fill in the required details:-

  1. Transfer Budget Head From(select from the drop-down)
  2. Transfer Budget Head To(select from the drop-down)
  3. Amount

7.2. View

OCM_Dept/OCM_Admin can view the details by clicking on icon available in front of every entry.

7.3. Approve Budget transfer

Once the amount to be transferred is submitted by the department, OCM_admin can approve/reject it by filling in the necessary details:-

  1. Status(from requested to Approve/reject)
  2. Remarks(If any)
  3. Date(Select date from a calendar)

 



8. Ledger

OCM_Admin can generate a ledger report by going to the Ledger section and fill in the required details:-

  1. Year(Select from the Calendar)
  2. Department(Select from the drop-down)
  3. Budget Head(Select from the drop-down)



9. Annexure


9.1. Roles

S.NoRole NameDescription 
1OCM_AdminCan configure the setting, Monitor and approve Budget estimates, transfer, advance, expenditure.
2OCM_Admin_ViewCan only Monitor Budget estimates, transfer, advance, expenditure.
3OCM_DeptCan add budget estimates, expenditure, request for transfer funds, or advance.


9.2. Workflow Diagrams

9.2.1. Activity Diagram


9.2.2. Use Case Diagram

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