What is a Budget Review and Adjustments Template?

Annual Budget Review and Adjustments templates are considered management input forms and are often used by the budget manager and the president’s office to review departmental budgets and make final adjustments and comments. Some of the key functionality in this type of input form is that it brings up the requested revenues and expenses for a department/school and then allows for adjustments. The budget manager and the president’s office have separate input and comment columns leading up to the final approved budget. The bottom (not visible in the screenshot below) of the template displays the net surplus or deficit. You find an example of this type of input form below.

Purpose of Budget Review Templates

Universities and colleges use Budget Review Templates to streamline the analysis, review and approval of the institution’s individual budgets. When used as part of good business practices in a Budgeting and Planning department, a higher education institution can improve its annual budget process and speed as well as reduce the chances that budgets are delayed or confusing due to lack of documentation and workflow.

Budget Review Template Example

Here is an example of a University Budget Review Form for Annual Budget Adjustments and Approval.

Higher Education Budgeting - Review and Adjustments Example

Higher Education Budgeting – Review and Adjustments Example

You can find hundreds of additional examples here

Who Uses This Type of Input form?

The typical users of this type of input form are: Budget Managers and Office of the President.

Other Input forms Often Used in Conjunction with Budget Review Templates

Progressive Budgeting and Planning Departments sometimes use several different Budget Review Templates, along with payroll, capital expense, operating expense and revenue budget templates and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples