Overall Budget 

Definition

Area of HR Funds and Position Management where the entire personnel budget is planned and executed.

Use

You can use an overall budget to plan and execute your personnel budget. This overall budget enables you to monitor and control the funds available for personnel expenditures. In other words, an overall budget gives you a clear overview of costs and positions. It also enables you to see whether or not budget conditions and budgeting rules are adhered to.

Structure

The first stage of budget planning involves drawing up a draft overall budget. This overall budget is used to define the budget hierarchy and the various objects contained within this hierarchy. In HR Funds and Position Management, the objects in an overall budget are referred to as budget structure elements.

You can allocate budgets (funds) to these budget structure elements so that they can be used for financing persons or positions. These budgets are defined and managed in the budget currency.

You can also define additional information for budget structure elements (e.g. who is responsible for the budget, an external budget number, or a descriptive text). If you wish, you can define budgeting rules for budget structure elements with full-time equivalent (FTE) budgets.

If you want to manage funds from secondary sources (a budget from an external party), you can do so by creating a separate overall budget for funds from secondary sources.

The various phases of the budget cycle are regulated by assigning budget statuses to the overall budget.

Once you have released the overall budget, you can start to execute it. An important part of this process involves allocating the individual budgets of the budget structure elements for the purposes of financing personnel expenditures. If you have defined an organizational structure, you can also finance employees via the positions to which they are assigned.

During the budget execution, you can adjust the overall budget by making transfers, updating budgets, and by defining and activating budgeting and reclassification rules.

You can view and print out the overall budget and the interrelationships between the various budget structure elements, persons, and positions from a range of perspectives. This will provide you with the information you need, and allow you to monitor your budget more closely.

See also:

Definition of Overall Budget

Budget Status

Budget Execution

Carrying Forward of an Overall Budget

Reporting Options