Acquire a Modern Budgeting Forecasting and Planning Tool

In late 2017,  the UW System Office of Budget and Planning researched and evaluated a new budget creation tool to replace an aging mainframe with limited reporting capabilities. That tool, Oracle ‘s Planning and Budgeting Cloud Service (PBCS), gives the enterprise the ability to do a host of important tasks, including the ability to accurately forecast actual revenues, expenditures and fund balances.  It will also interface seamlessly with existing UW System units and tools, including:

  • Shared Financial Systems (SFS)
  • Compensation Administration Tool (CAT)
  • Planning Allocation System
  • Source of Funds (SOF) System

Dubbed “Plan UW,” the first phase of the tool, which will allow all UW institutions to begin planning their FY20 budgets, went live in mid-December 2018. More information is available on the Office of Budget and Planning website.      

Implement the Modern Budget Tool

Implementation of Plan UW is currently underway. The first phase went live in mid-December 2018, allowing UW institutions to begin using the new tool to plan their FY20 budgets. The second phase began in January 2019, and is focused on training the institutions to use Plan UW to forecast actual expenditures and revenues as well as monitor, forecast and report cash balances.  Future phases will focus on multi-year strategic planning. This project aligns to Business Process Standardization and Transformational Change.

Facilitate Policy Improvements for Tuition and Segregated Fees

As part of the third phase of Plan UW, Office of Budget and Planing staff will begin to use the budget tool for tuition and segregated fee setting and modeling. No specific timeline has been set for this effort.

 

 

 

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