Budget

Service Description

Budgeting offers a solution for state agencies for implementing, and adjusting financial objectives. Budgeting is integrated with other State-supported modules including General Ledger, Commitment Control, and HCM. Most importantly, the budgeting module is integrated with the current Financials system where budgets become extremely important in the encumbrance and payment processes.

Customer Benefits

• With the Budgeting module, agencies are able to file their budgets in an electronic manner
• The Budgeting module includes reports which will show the agency's budgets at the division and the department level
• Allows our state to use zero-based budgeting in order to begin each fiscal year with a balanced budget (Oklahoma Constitution, Article 10)
• Flexibility of budget structure based on, and within the constraints of, the agency's limit bills
• Flexibility of model options, within statutory and constitution constraints: 
  • Can budget on a quarterly or monthly basis, has option to use the Position Budgeting activity – allowing agencies to enter their personnel budgets by position and track their budgets for personnel expenditure accounts
  • Can budget on a detailed account code, or a roll-up account code level
• Agencies can revise their budgets throughout the fiscal year
• Agencies have the ability to use prior year actuals, current year-to-date actuals, and/or current year budget as analysis ledgers while planning their upcoming budget; however, in revisions, the agency may use their current year budget as an analysis ledger while planning revisions
• Reports may be run to track and validate budget entries

Customer Market

This service is available for all Oklahoma state agencies, offices, officers, bureaus, boards, commissions, counsels, units, divisions, bodies, authorities, or institutions of the executive, legislative, or judicial branches of state government.   It is also available to counties, municipalities, townships, Tribal governments, and other political subdivisions.    

Customer Responsibilities

• 62 O.S. §34.42.A – "On or before the first day on June in each year, or as soon thereafter as possible, all agencies shall file agency budgets with the Director of the Office of State finance. Copies of all agency budgets shall also be made available electronically to the staff of the Joint Legislative Committee on Budget and Program Oversight"
• Know their own statutory requirements and annual legislative limits for their agency
• Return the Budget Model Survey to the EPM Specialist each year by March 1
• Take responsibility for getting the proper training and staying aware during said training
• Compose and submit the proper additional paperwork required for each budget year/revision (62 O.S. §34.42)
• Attend required training to receive system access
• Run reports on a regular basis, in Budget and Financials, to track their own budgets, expenditures, allotments, encumbrances, etc. (this responsibility also includes reconciliation of reports)

How Do We Charge?

There is no additional charge for the actual use of this PeopleSoft module.

Please contact the OMES Service Desk if you need any addition information about services in this catalog.