Financial Budgets

Creation/Removal/Reallocation of spend authority between organizations.​ 

A Budget Amendment is a formal process used to modify an existing budget. This can involve increasing or decreasing budget amounts, reallocating funds between cost centers or adjusting the account for changes in financial circumstances. 

Legacy Term: Budget Transfer​ 

Core Office Budget Team.​ 

A security role that performs budget functions for assigned companies. Examples include creating budgets and maintaining budget details, position budgeting and budget checking. They hold approval authority for budget business processes. 

Unit Level Responsible Fiscal Individual.​ 

A security role for a primary manager of assigned cost centers who has approval authority for expense, requisition and timesheet business processes. 

Budget in Workday that is the initial load +/- any Central Original Adjustment type of amendments. 

Budget in Workday that is the initial load +/- all amendments.​ 

Budget Amendment Type transferring funds on a one-time basis.​ 

Budget Amendment Type transferring funds permanently from one unit to another.​ 

Budget Amendment Type to be used solely by Budget Managers, used to adjust Original Budget Balances. 

Budget Amendment type to be used solely by Budget Managers, used to allocate permanent funds. This type should be used when allocations come from central sources. 

Budget Amendment Type to be used solely by Budget Managers, used to allocate one-time funds. This type should be used when allocations come from central sources. 

The general construct of a budget in Workday. This defines the components of the budget. 

A plan structure is a foundational framework used in budgeting and planning processes within Workday. It defines various key elements, including type of plan or budget, fiscal schedule and periods, ledger accounts and dimensions, and approval requirements. 

The individual component where budget activity occurs. For the financial structure, this will be defined by each fiscal year.​ 

A plan template is a predefined structure used to create various types of plans efficiently within different functional areas, such as financial planning, projects and grants. For the financial structure, this will be defined by each fiscal year.​ 

Individual who oversees the fiscal activity of an entire unit. This person typically oversees various Cost Center Managers within their units.​ 

A security role that performs financial reporting functions for assigned cost centers. Examples include manager financial reporting metrics and spend analytics.