Breakout Session 3: Thursday, May 31, 2018 @8:30-10:00 am   Budget Tracking & Reconciliation – Department Level Welcome and Introductions Bridgette Keene  Activity Explanation Theresa Aitchison Budget Tracking & Reconciliation Maria Rasimas Shadow Budget System Demo Kim Kamrath CHABSS Case Study Bridgette Keene Q&A Session CSUSM Panel Breakout Session Survey Participants Complete Breakout Session Activity Participants

Breakout Session 4: Thursday, May 31, 2018 @10:30-12:00 pm   Budget Tracking & Reconciliation – College Level Welcome and Introductions Bridgette Keene  Activity Explanation Theresa Aitchison Budget Tracking & Reconciliation Maria Rasimas Shadow Budget System Demo Amy Armstrong Q&A Session CSUSM Panel Breakout Session Survey Participants Complete Breakout Session Activity Participants

Budget Tracking & Reconciliation with PIVOT TABLES By CSU San Marcos

How did we start using this Shadow BUDGET? We previously used Quicken which had limited analysis functionality and was more cumbersome with high volume of salaries Started with a basic Excel spreadsheet with pivot tables to analyze the data - we added complexity over time as skills and needs developed We also adopted the power of pivots with other data sets such as enrollment schedules, csv data downloads, HR actuals, etc.

Budget basics What is a shadow budget? Why use a shadow budget? A financial management tool to track expenses and revenue, much like a checkbook ledger Why use a shadow budget? To reconcile revenue and expenses against “the bank” in our case, DATA WAREHOUSE, preferably monthly Management of faculty and department funds, salaries, etc. Ease of financial forecasting or projecting through fiscal year end

Why is it Important to RECONCILE? Know what current financial status is in ‘real’ time Protects the resources of the University by being good stewards It’s an audit requirement Examples of why we need to reconcile: Errors such as transposing numbers and charging incorrect departments Errors in budget allocations Chargebacks or transfers that we weren’t informed of

Why is it important to forecast? Forecasting is a PROJECTION of the total revenues and expenses through the end of the fiscal year. We know if the funds will end the FISCAL YEAR “on target” and in good financial health We can tell exactly how much funding we have left to spend at any time, department funds, faculty funds, etc. Easy mid-year reporting (if required)

Using Excel with Pivots as your budget shadow to reconcile and forecast your budget Advantages: Customizable – add columns as needed for additional analysis Accessible – no licensing fees, most people have access to Excel Shareable – just email Increases Excel skills overall – more than just budget Reduces the need for multiple data entry spreadsheets Efficiency – quick and easy analysis in multiple ways

Excel basics to get to know: EXCEL tools used in the shadow budget samples: Format as Table REFRESH Quick Access Toolbar Validation Table Conditional Formatting Pivot Table and Pivot Table tools Slicer Filter

Format as a Table Using the table format in your Excel spreadsheet eliminates the need to insert lines. Filter to your fund or department and just add on the bottom Totals at the top include only what is filtered.

Favorite Excel Quick Access Toolbar For convenience add the following to your toolbar (below the ribbon for easy access): Save Refresh All Filter Clear Filter Email Insert Pivot Table

VALIDATION TABLES What are they? A set of data that restricts the values allowed in a cell which reduces data entry errors Creates drop down boxes to choose from rather than manual data entry

Conditional Formatting We use conditional formatting in the template to color code funds and scenarios for easy visual of your funds. It’s a great tool to know!

Pivot Tables Pivot tables are a preset query of the data (filter on steroids) All analysis of the data is done with pivot tables from one spreadsheet Make as many as you need, examples: By Account to reconcile By Category to review with supervisor By Employee to track salaries Pivot Tables Tools include Design and Analyze Design is cosmetic for visual clarity Analyze includes changing data source, adding slicers (filters on steroids)

SLICER and Filter Slicers Filters Use in data entry ledger or pivot tables to filter and analyze data Slicers Filters

Excel and Pivot Table Training available Seminars/Webinars Free Online On Campus training Pryor Seminars https://www.pryor.com/ SkillPath http://www.skillpath.com onlc Training Centers https://www.onlc.com You Tube: MyOnlineTrainingHub.com  Myexcelonline.com CSU Campus Online Learning/Skillport Use knowledgeable staff on campus for workshops Hire Professional Excel Trainers for your group Request Budget Office Support

And on to demo the shadow budgets… Major difference between Department and College Shadow budget samples provided: Department level manages a high volume of faculty funds College level manages a high volume of salaries Time for Q&A will be available after the demo Presentation by CSU San Marcos Amy Armstrong, Theresa Atchison, Kim Kamrath, Bridgette Keene, Maria Rasimas May 31, 2018 Shadow budget samples are available at the below website along with the presentations. These are merely samples, each shadow budget can be customized as needed to your own unique needs. WEBSITE: https://www.csusm.edu/par/budgettrackingandreconciliation.html\