What is a  Target Adjustments by Fund Template?

Budget Target Adjustment input templates are considered important components of an annual planning process and are used by the budget manager and the president’s office to guide end users as they enter budgets. Some of the main functionality in this type of input form is that it it automatically displays last year’s actual results to assist and guide the user as they enter the target adjustment in the yellow cells. The far right column calculates next year’s target budget by multiplying the adjustment % with last year’s actual result. The rows in the form dynamically list each fund by GL expense account and the total figures are displayed at the bottom. You find an example of this type of input form below.

Purpose of Target Adjustment Templates

Universities and colleges use Target Adjustment Templates to quickly and easily create an initial proposed budget based on desired or likely targets. When used as part of good business practices in a Budgeting and Planning department, a higher education institution can improve its planning process, and it can reduce the chances that the departmental end users doing the bottom-up budget process miss the university’s fund expense targets by a wide margin.

Target Adjustment Template Example

Here is an example of a Target Adjustment form to budget for fund expenses.

Higher Education Budgeting - Target Adjustments by Fund Example

Higher Education Budgeting – Target Adjustments by Fund 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 Officers and Department Managers.

Other Input forms Often Used in Conjunction with Target Adjustment Templates

Progressive Budgeting and Planning departments sometimes use several different Target Adjustment Templates, along with  payroll, capex, operating expense- and revenue templates and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from management systems or 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