Budget Tool

Timeline

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July 13-31
Budget Uploaded

Budget & Fiscal Planning uploads July budget into finance system.
June-July 12
Campus Review and Approval

Campus will review all budgets to reconcile to full Boulder budget prior to upload.
June 14
July Budget Approvals Due

July budget due to campus for review.听(Date reflects when final budget is due to the campus. Internal deadlines may vary by unit.)
June 1-14
July Budget Approvals

Department/Unit approvers will review and mark budgets completed.
May 31, 2024
July Budget Due

July budgets are due. Budget deadline for the fiscal year.
April 19, 2024
Data Snapshot Date

Corresponds with the continuing budget cut-off date. At this point, your budget data will stop moving within the tool. Allows you to finish your planning process.听
March 4, 2024
Production Date

This is the date when we will change the environment in the Anaplan Budget Tool from test to production.
Feb. - March
Campus Training
February 5 - March 1

Anaplan Budget Tool is in the test/train environment to allow for campus stakeholder learning and development.

Training Opportunities:

Campus-wide sessions听鈥� Feb. 5, 7, 14 and 21.

Individual training听sessions scheduled as needed.

Open office hours - Fridays at 10 a.m.

Campus-facing SharePoint site.
Feb. 5, 2024
Go-Live Date!

This is the targeted go-live date for the budget tool to be deployed to campus.
Dec. 29, 2023
Deploy to BFP (Target Date)

The budget tool is deployed to Budget and Fiscal Planning. Administration training, release activities, and end-user training initiatives are launched before the go-live听date.
Nov. 13, 2023
Testing Phase Begins

Testing begins with system integration and user acceptance.
Sept. 19, 2023
Build Phase Begins

Work begins on metadata, data integrations, model configuration, internal unit testing, and hands-on workshop.
Sept. 15, 2023
HCM Vacant Position Cleanup Complete

Thank you to all who听assisted in cleaning up the active vacant positions in HCM in preparation for the new campus-wide budget tool!听We received 100% participation across campus and inactivated over 8,000 vacant positions that are no longer needed.

Employee Services has completed the upload on our behalf and the positions are now inactivated in HCM. Positions with current incumbents or payroll this fiscal year were excluded from the upload.
Aug. 24, 2023
Foundation Stage: Requirements & Design Workshops Begin

Core team begins meeting biweekly with vendor to discuss overall project requirements and high-level design. Expected to continue through September.听
Aug. 7, 2023
Project Team Invitation Email

Campus budget representatives鈥嬧€� from across campus were invited to join the budget tool implementation project team.听
July 5, 2023
HCM Vacant Position Cleanup

Budget officers were asked to review active vacant positions and identify positions to be inactivated. This will reduce the number of positions that departmental units need to review each year in the tool.

听
June 26, 2023
Budget Tool Implementation Town Hall
Campus stakeholders were invited to this town hall to discuss the budget tool timeline, project governance structure, details about what you might expect from the tool and the next steps.

View the听slide deck听and Zoom听.
June 14, 2023
UELT Presentation

Presentation听to UELT (University Executive Leadership Team) on the budget tool timeline, project governance structure, details about what you might expect from the tool and the next steps.
April 13, 2023
Budget Tool Introduction to FLC

Presentation to campus FLC (Financial Leadership Council)听to outline听the budget tool implementation project.听
Aug.-Sept. 2022
Budget Tool Vendor Selection Committee Discussions

The budget tool vendor selection committee met听regularly to听review case studies, compile and analyze feedback from campus stakeholders, "score" vendors, and review requests for proposals.
June-July 2022
Budget Tool Stakeholder Interviews
The core team met and interviewed stakeholders across campus to gather feedback and insights about a new budget tool.

Some questions that were asked:

What pain points do you have with the current annual budget process?

What do you like in the current process that you would not want to lose?

What features in the tool would be helpful for your unit?

July 13-31
Budget Uploaded

Budget & Fiscal Planning uploads July budget into finance system.
June-July 12
Campus Review and Approval

Campus will review all budgets to reconcile to full Boulder budget prior to upload.
June 14
July Budget Approvals Due

July budget due to campus for review.听(Date reflects when final budget is due to the campus. Internal deadlines may vary by unit.)
June 1-14
July Budget Approvals

Department/Unit approvers will review and mark budgets completed.
May 31, 2024
July Budget Due

July budgets are due. Budget deadline for the fiscal year.
April 19, 2024
Data Snapshot Date

Corresponds with the continuing budget cut-off date. At this point, your budget data will stop moving within the tool. Allows you to finish your planning process.听
March 4, 2024
Production Date

This is the date when we will change the environment in the Anaplan Budget Tool from test to production.
Feb. - March
Campus Training
February 5 - March 1

Anaplan Budget Tool is in the test/train environment to allow for campus stakeholder learning and development.

Training Opportunities:
- Campus-wide sessions听鈥� Feb. 5, 7, 14 and 21.
- Individual training听sessions scheduled as needed.
- Open office hours - Fridays at 10 a.m.
- Campus-facing SharePoint site.
Feb. 5, 2024
Go-Live Date!

This is the targeted go-live date for the budget tool to be deployed to campus.
Dec. 29, 2023
Deploy to BFP (Target Date)

The budget tool is deployed to Budget and Fiscal Planning. Administration training, release activities, and end-user training initiatives are launched before the go-live听date.
Nov. 13, 2023
Testing Phase Begins

Testing begins with system integration and user acceptance.
Sept. 19, 2023
Build Phase Begins

Work begins on metadata, data integrations, model configuration, internal unit testing, and hands-on workshop.
Sept. 15, 2023
HCM Vacant Position Cleanup Complete

Thank you to all who听assisted in cleaning up the active vacant positions in HCM in preparation for the new campus-wide budget tool!听We received 100% participation across campus and inactivated over 8,000 vacant positions that are no longer needed.

Employee Services has completed the upload on our behalf and the positions are now inactivated in HCM. Positions with current incumbents or payroll this fiscal year were excluded from the upload.
Aug. 24, 2023
Foundation Stage: Requirements & Design Workshops Begin

Core team begins meeting biweekly with vendor to discuss overall project requirements and high-level design. Expected to continue through September.听
Aug. 7, 2023
Project Team Invitation Email

Campus budget representatives鈥嬧€� from across campus were invited to join the budget tool implementation project team.听
July 5, 2023
HCM Vacant Position Cleanup

Budget officers were asked to review active vacant positions and identify positions to be inactivated. This will reduce the number of positions that departmental units need to review each year in the tool.

听
June 26, 2023
Budget Tool Implementation Town Hall
Campus stakeholders were invited to this town hall to discuss the budget tool timeline, project governance structure, details about what you might expect from the tool and the next steps.
- View the听slide deck听and Zoom听.
June 14, 2023
UELT Presentation

Presentation听to UELT (University Executive Leadership Team) on the budget tool timeline, project governance structure, details about what you might expect from the tool and the next steps.
April 13, 2023
Budget Tool Introduction to FLC

Presentation to campus FLC (Financial Leadership Council)听to outline听the budget tool implementation project.听
Aug.-Sept. 2022
Budget Tool Vendor Selection Committee Discussions

The budget tool vendor selection committee met听regularly to听review case studies, compile and analyze feedback from campus stakeholders, "score" vendors, and review requests for proposals.
June-July 2022
Budget Tool Stakeholder Interviews
The core team met and interviewed stakeholders across campus to gather feedback and insights about a new budget tool.

Some questions that were asked:
- What pain points do you have with the current annual budget process?
- What do you like in the current process that you would not want to lose?
- What features in the tool would be helpful for your unit?

Understanding Budget Tools

What you can expect from the budget tool:

Help streamline administrative tasks and workload鈥�
Quickly calculate allocations based on updated parameters 鈥�
Allow multiple scenarios to be run and compared against each other 鈥�
Can be exported into Excel to allow further analysis 鈥�
Provide transparency and quick access to budget and forecast data 鈥�
Provide enhanced security controls 鈥�
Automate workflows and approval 鈥�
Can be configured to match unit needs for reporting and planning鈥�

The budget tool will not:

Generate new鈥� revenue sources鈥�
Eliminate approvals or regular reviews by budget managers鈥�
Enforce spending policies or budget management 鈥�
Allow for highly unique customization鈥�
Replace other dashboards鈥� or reporting tools 鈥嬧€�
Replace HCM or PeopleSoft鈥� as the systems of record for鈥� HR and Finance 听鈥嬧€�
Act as a document鈥� repository鈥嬧€�

听

Governance Structure

Core Team

Members from BFP and VCAA 听Includes leadership in budget and finance, budget analysts, communications and training

Meet weekly or multiple times a week with the vendor鈥�
Work to build system components for review鈥�
Prepare and complete demos of system functionality
Manage vendor communication and campus coordination鈥�
Ensure Phase 1 implementation goals are achieved鈥�

Project Team (Phase 1)

Campus budget representatives 听From CMCI, RIO, Athletics, CEAS, Advancement, I&S, Music, A&S, Student Affairs, VCAA and OIT

Meet monthly or every other week throughout Phase 1 implementation鈥�
Make recommendations about system functionality鈥�
Review system demos and make suggestions for improvement or approve functionality鈥�
Ensure system meets campus needs while considering Phase 2 unit needs鈥�
Provide information to other campus partners and note when functionality may require additional campus conversations

Technical Team

System HCM, CCO, UIS and Boulder OIT鈥�

鈥婭mplement technical operations, such as single sign-on, data integrations, etc.
Assist in coordination with vendor on technical needs

Project Team Subgroups (Ad Hoc)

Project team members and other campus stakeholders鈥�

鈥婤rought together as needed based on specialized knowledge and skills
Implement specific components and functionality (auxiliary funds, gift funds, merit process, etc.)

Phases

Phase 1

Completed Feb 2024

Main goal: Campus-wide functionality

Annual Budget鈥�
Multi-year (3) Budget鈥�
Position Budgeting 鈥�
搁别辫辞谤迟颈苍驳鈥�
Actuals (transaction level planning)

Phase 2

Fiscal Year 2025

Main goal: Additional campus and unit-specific听needs

What-if scenario planning鈥�
Unit level budgeting 鈥�
Unit-specific reporting needs and dashboards鈥�
Commitment tracking鈥�
Budget request process
Compensation cycle (merit)

Engage With Us

This is truly a collaborative effort.听Please visit the or reach out to us at budgettool@colorado.edu

听

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Other ways to search:

Budget Tool

Timeline

July 13-31

Budget Uploaded

June-July 12

Campus Review and Approval

June 14

July Budget Approvals Due

June 1-14

July Budget Approvals

May 31, 2024

July Budget Due

April 19, 2024

Data Snapshot Date

March 4, 2024

Production Date

Feb. - March

Campus Training

Feb. 5, 2024

Go-Live Date!

Dec. 29, 2023

Deploy to BFP (Target Date)

Nov. 13, 2023

Testing Phase Begins

Sept. 19, 2023

Build Phase Begins

Sept. 15, 2023

HCM Vacant Position Cleanup Complete

Aug. 24, 2023

Foundation Stage: Requirements & Design Workshops Begin

Aug. 7, 2023

Project Team Invitation Email

July 5, 2023

HCM Vacant Position Cleanup

June 26, 2023

Budget Tool Implementation Town Hall

June 14, 2023

UELT Presentation

April 13, 2023

Budget Tool Introduction to FLC

Aug.-Sept. 2022

Budget Tool Vendor Selection Committee Discussions

June-July 2022

Budget Tool Stakeholder Interviews