| | Description | Budgeting and forecasting is required to offer the Hospital executives, facility administrators, and department managers a powerful tool to create and manage their budgets.
Budget Control is the module that integrates with all aspects of expenditures related to salaries, procurement and administrative. The module should allow the Hospital to reserve, commit and expense funds as per Ministry of Finance rules and regulations in this respect. |
| 1 | | Access to system-wide, current and historical data such as personnel, payor and patient information; resource and material consumption and costs; actual and projected revenue; actual and projected costs of services. | | 2 | | ‘What if ‘ analysis on data to aid in projecting and forecasting budgetary information or scenarios, without corrupting the original data | | 3 | | Ability to factor in variables such as depreciation and inflation percentages, staff size fluctuation, price changes, new purchases of equipment and supplies, etc.. | | 4 | | Provide consistent and coordinated budgeting processes and formats throughout the organization | | 5 | | Ability to include online notes related to specific budget numbers | | 6 | | Ability to create departmental budget planner worksheets | | 7 | | Ability to create several versions of any budget plan in order to project or forcast budgets or specific variables within a budget | | 8 | | Ability to enter online notes in the form of free text to explain budget numbers | | 9 | | Ability to override/edit to adjust each department’s budget |
| 10 | | Support unlimited budget files for current or future periods | | 11 | | Allow for department-level access for budget development and analysis | | 12 | | Allow users to create budget data for accounts from current or previous period budget or actual balances | | 13 | | Support seamless integration of budget files created in payroll/personnel, fixed assets, and budgeting and forecasting modules | | 14 | | Support budget worksheet comparison for a range of periods, including prior fiscal year, actual and projections, and budget variances. | | 15 | | Required to budget all accounts | | 16 | | Budgets support multiple account types: income, expense, liability, capital , statistical | | 17 | | Multiple budgets per account | | 18 | | Budgeting periods: monthly, quarterly , annually | | 19 | | Ability to generate financial statements with budgets | | 20 | | Provide integration and sharing of data between general ledger and budgeting systems | | 21 | | Ability to use account numbers from general ledger system for budget preparation ( ex: no re-keying of account codes ) | | 22 | | Ability to use actual current period and YTD general ledger account balances for budgeting | | 23 | | Ability to use general ledger account balances for past three years’ current period for budgeting | | 24 | | Ability to use actual general ledger account balances for past three years’ current period and YTD for budgeting | | 25 | | Support online maintenance of budgeted GL account data for current period and YTD, for current and prior year | | 26 | | Store general ledger historical data for budget and trend analysis for five years | | 27 | | Maintain departmental statistics for current period and YTD for current and prior year for budget purposes | | 28 | | Maintain departmental FTE data for current period and YTD for current and prior year for budget purposes | | 29 | | Share the same Chart of Accounts with the General Ledger | | 30 | | Ability to define budget models | | 31 | | Provide flexible budgeting formulas |
| 32 | | Ability to prepare budget in a distributed environment anytime, anyplace | | 33 | | Ability to sort budget data to work on items one at a time or all at once; mark items as complete when finished | | 34 | | Ability to add new budget items dynamically | | 35 | | Ability to spread, repeat, and copy budget data | | 36 | | Ability to add itemized lists that allow you to drill down to see detailed budget information | | 37 | | Ability to include text notations to provide further explanations of budgeted amounts | | 38 | | Ability to use position budgeting in payroll budgets | | 39 | | Ability to review and update budget data online | | 40 | | Drill down by account and department, account and period, department and period, and product and period , or customize drills | | 41 | | Add notations during the review process ( ex: explain why portions of a budget were rejected or altered) | | 42 | | Ability to use a multilevel approval process based on the hierarchy of the Hospital | | 43 | | View notes and itemizations entered by preparers | | 44 | | Ability to adjust budget ledgers at multiple levels | | 45 | | Ability to use mass change to make volume changes to the entire budget or specific accounts | | 46 | | Allocate and move data using allocations | | 47 | | Ability to adjust detail budget by account , year, and period | | 48 | | Ability to enter budget journals | | 49 | | Ability to make adjustments to the entire year | | 50 | | Ability to spread a lump sum amount evenly across all periods | | 51 | | Ability to designate a specific amount to repeat across every period | | 52 | | Ability to designate a specific amount to add to every period | | 53 | | Ability to designate percentage by which you want to increase / decrease every period |
| 54 | | Totals for the entire Hospital ( major cost centers ) | | 55 | | Grand totals for all departments ( cost centers ) | | 56 | | Totals by selected departments(s) only | | 57 | | Budget numbers for each facility in the Hospital | | 58 | | Totals in specific categories for all departments, such as total pay increases | | 59 | | The drilled-down numbers that constitute the detail of a specific department budget plan | | 60 | | Entry of data online with online validation and real-time update | | 61 | | Ability to input budgets by :- Manual entry | | 62 | | Ability to input budgets by :- Uploading from a spreadsheet | | 63 | | Ability to input budgets by :- Copy | | 64 | | Ability to record budgets at :- Summary level | | 65 | | Ability to record budgets at :- Detailed account level | | 66 | | Ability to record budgets at :- Detail level rolled up into summary level | | 67 | | Ability to record budgets for : revenue , expense, capital expenditures | | 68 | | Ability to record budgets spanning multiple accounting years ( investment budget ) | | 69 | | Allow budget transfers between accounts | | 70 | | Allow budget copy between accounts | | 71 | | Distinguish between operating budget and investment budget | | 72 | | Provide audit trail on budget transfers between accounts | | 73 | | Ability to operate budgets for two fiscal years at one time |
| 74 | | General ledger expense projections | | 75 | | Projected number of employees | | 76 | | Projected salaries of employees | | 77 | | Projected patient days | | 78 | | Admissions projections | | 80 | | Service volume projections | | 81 | | Reimbursement projections | | 82 | | Managed care ( third party ) contract analysis and negotiation |
| >>> Computations and Revisions | | | | 83 | | Compute future period projections based on average of prior years’ data plus or minus a percentage | | 84 | | Compute future period projections based on user-defined calculations on prior year(s) data | | 85 | | Create future period data based on zero-base budget | | 86 | | Support automatic spreading of summary level budget revisions to detail items | | 87 | | Allow across the board revisions for a department | | 88 | | Allow across the board revisions for a range of departments | | 89 | | Allow across the board revisions for a natural class | | 90 | | Allow across the board revisions for a range of natural classes | | 91 | | Allow revision of budget amounts for a range of periods by a user-defined percentage | | 92 | | Allow revision of budget amounts for a range of periods by a fixed amount | | 93 | | Support flexible budgeting of revenue, expense, and labor data based on user-defined volumes | | 94 | | Support flexible budgeting using step variables | | 95 | | Support flexible budgeting using pure variables | | 96 | | Support flexible budgeting using fixed plus variable amounts | | 97 | | Support capital expense budgeting with automatic calculation of depreciation based on assets useful life | | 98 | | Allow creation of and access to budget file for next year’s budget before close of current year | | 99 | | Provide option to automatically interface monthly budget adjustments to general ledger system | | 100 | | Allow users to amend the forecast at an individual account level | | 101 | | Allow budget to be frozen in order to preserve the budget | | 102 | | Provide for a multi-level approval for the budget |
| 103 | | Ability to designate budget versions for :- Baseline plan | | 104 | | Ability to designate budget versions for :- Current budget version | | 105 | | Ability to designate budget versions for :- Amended budget version | | 106 | | Ability to designate budget versions for :- Forecasts | | 107 | | Ability to designate budget versions for :- Ability to hold and operate at least 4 different budget versions | | 108 | | Ability to record description text against budgets in :- Summary | | 109 | | Ability to record description text against budgets in :- Detail for specific lines | | 110 | | Ability to adopt and approve a final version |
| 111 | | Provide for Position Budgeting | | 112 | | Track expenditures for salaries from payroll, other earnings and benefits | | 113 | | Vary individual components of the personnel cost equation to determine the impact on the overall budget |
| 114 | | Maintain and allow access to multiple budget files ( ex: revised and original) for current year’s budget | | 115 | | Ability to inquire online by each segment of the COA | | 116 | | Online variance analysis and comparison between actual, budget and forecast | | 117 | | Allow summary and detail inquiries of all budget accounts and analysis on screen and by report | | 118 | | Allow drill down from GL account level to budget information |
| 119 | | Provide ad hoc report writing capabilities within budgeting system | | 120 | | Print budget reports comparing actual amounts to flexible budget amounts | | 121 | | Print budget reports in same format as GL reports, using GL report format paramters | | 122 | | Print budget worksheets with calculated projections | | 123 | | Print pro forma profit and loss statements | | 124 | | Print monthly departmental exception reports of actuals that exceed a user-defined budget variance |
| 128 | | Ability to define allotments based on the approved budget in accordance with the Chart of Accounts | | 129 | | Ability to control reservation, expenditure and payment of amount in accordance with the governing rules. | | 130 | | Rolling up of budget amounts | | 131 | | Capability to transfer allotment amounts between different chapters of the budget | | 132 | | Interface with Payable for expending and payment of dues | | 133 | | Provide a multi level approved mechanism from the time of amount reservation to disbursement | | 134 | | Create proper documents, and print at each step of the budget control process | | 135 | | Integrate with purchasing and payable for the procurement control, and payment follow-up | | 136 | | Define budget control allotments based on approved budget plan | | 137 | | Real-time check for available budget as entries are processed through the system | | 138 | | Monitor available budgets at either the detailed or summary level | | 139 | | Display actual figures, budgeted figures, commitments and variances, online at the account level | | 140 | | Ability to display overspent accounts which have exceeded either pre-defined monetary or percentage limit | | 141 | | Ability to stop over expenditure at all levels |
| >>> Budget Control Process | | | | 143 | | Ability to automatically create allotment figures from budget plan figures | | 144 | | Ability to override allotment figures | | 145 | | Ability to add / change an allotment figure | | 146 | | Ability to transfer allotments between accounts for the same cost center , or to other cost centers | | 147 | | A commitment is required to be created/released in the following circumstances: | | 148 | | Commitment created when a requisition is raised and approved | | 149 | | Commitment is cancelled when a requisition is cancelled | | 150 | | Commitment is converted to encumbrance when the requisition is converted into a purchase order | | 151 | | Commitment is credited when the purchase order is cancelled | | 152 | | Commitment is amended if requisition is changed | | 153 | | Encumbrance is created when a purchase order is created | | 154 | | Encumbrance is cancelled when a purchase order is cancelled | | 155 | | Encumbrance is converted to expense when the purchase order is matched to an invoice | | 156 | | Encumbrance is amended when a credit note is entered | | 157 | | Encumbrance is amended if purchase order is changed | | 158 | | Encumbrance is recreated when an invoice is cancelled | | 159 | | Expenditure is created when an invoice is accepted by the payable system, encumbrance is adjusted by the reverse of the expenditure amount | | 160 | | Management reports are printed at various steps in the cycle | | 161 | | Control Reports are printed | | 162 | | Ability to view online allotment , commitment , encumbrance , expense and available balance ( Available Funds = allotment – commitment – encumbrance – expense ) | | 163 | | Ability to report on open commitments, open encumbrances and available balances | | 164 | | Ability to handle and resolve budget exceptions online | | 165 | | Ability to automatically update available funds in one of the cost center / account bucket | | 166 | | Ability to define budget based on the structure of the COA | | 167 | | Ability to display available funds in summary or details ( roll up / roll down ) | | 168 | | Ability to define user budgetary control rules at any account structure component, at any combination of levels | | 169 | | Ability to define Budgetary control rules by document source, by document type, by user | | 170 | | Provide Control options: absolute or advisory | | 171 | | Provide User set control tolerances and overrides |
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