White PapersThe ability to control and maintain budgets easily is essential to every public sector organization. Budgetary control within Oracle Public Sector Financials enables you to check and reserve funds real-time.
You can group ranges of accounts using the Budget Organization definition to aid budget maintenance. All accounts belonging to a particular range code are displayed in one place, facilitating changes to multiple budgets.
You are able to check and reserve funds for inter-budget as well as intra-budget transfers, pre-encumbrances and encumbrances (pre-expenditure) and actual expenditure. Oracle Public Sector Financials provides you with a view of real-time funds availability.
ORACLE DATA SHEET ORACLE PUBLIC SECTOR FINANCIALS KEY FEATURES " Group ranges of accounts for easy budget maintenance " Enforce spending limits with budgetary control and funds checking " Track pre-expenditure transactions with automated encumbrance accounting " Achieve actionable insight through enhanced funds check error handling " View funds check results and export to Excel for annotation " Transition easily to new year with budget and encumbrance carry forward " Monitor real-time budget status with funds available inquiry and reporting Oracle Public Sector Financials1, an integrated part of the Oracle E-Business Suite, is designed to manage budgets and control costs for government, education, and non-profit organizations. Manage Budgets and Control Spending Real-Time The ability to control and maintain budgets easily is essential to every public sector organization. Budgetary control within Oracle Public Sector Financials enables you to check and reserve funds real-time. You can group ranges of accounts using the Budget Organization definition to aid budget maintenance. All accounts belonging to a particular range code are displayed in one place, facilitating changes to multiple budgets. You are able to check and reserve funds for inter-budget as well as intra-budget transfers, pre-encumbrances and encumbrances (pre-expenditure) and actual expenditure. Oracle Public Sector Financials provides you with a view of real-time funds availability. Encumber Funds Automatically Encumbrances are pre-expenditure transactions employed as part of a system of budgetary control. Using encumbrances, you can record procurement activity well in advance of actual expenditure and set aside funds as early as possible to prevent overspending of budgets. Oracle Public Sector Financials enables you to account for transactions automatically throughout the procurement process, from the time a requisition (pre-encumbrance) or purchase order (encumbrance) is generated in Oracle Purchasing until a supplier invoice is recorded in Oracle Payables. Enforce Spending Limits Systematically Budgetary control is a method of systematically enforcing spending limits by ensuring availability of budgeted funds before approval of transactions. " You can perform a funds check to see if sufficient funds are available without having to approve the transaction or reserve the funds. This feature enables you to make adjustments to the transaction itself or discuss budget adjustments with your budget controller. " If you perform a funds reservation and there are insufficient funds available, the transaction may remain unapproved. You decide on the severity of budgetary control. For instance, you can enforce a warning or rejection status when exceeding funds available. Oracle Public Sector Financials enables you to decide how the real-time funds 1 Public Sector Financials International features This data sheet does not Oracle 1 Untitled DocumentORACLE DATA SHEET available amount should be calculated, by offering a variety of options, such as: " Budgetary control at either a detailed account and/or summary account level and / or general ledger journal source and journal category level " Definition of the timeframe for the calculation (Period, Quarter, Year, Project) " Inclusion or exclusion of pre-encumbrances and encumbrances from the funds available calculation Improve Visibility of Operational and Financial Information Oracle Public Sector Financials provides operational online reporting on budgetary control results and new XML Publisher Reports to support financial analysis. When performing a funds check or funds reservation for a transaction, you can elect to immediately view funds check or funds reservation details through an online Budgetary Control Results Report. Figure 1: Budgetary Control Results Report This report is available from transaction windows across Oracle Purchasing, Oracle Payables and Oracle General Ledger and can also be submitted from the standard report request window. You can compare the individual transaction line amounts to the funds available and view the funds available composition, and review the specific result messages. The Budgetary Control Results report is an XML Publisher report, which you can easily customize to suit your needs. You can export the report to various formats such as Microsoft Excel, Microsoft Word, PDF or HTML. For instance, data can be viewed in Microsoft Excel, providing the ability to a familiar spreadsheet format and add notes on actions to take to rectify a given funds check/reservation failure. XML Publisher reports support the financial analysis of pre-encumbrances (Commitments), encumbrances (Obligations) and actual expenditure balances by providing transaction level information. In addition, Oracle Public Sector Financials provides funds available inquiries, funds available and encumbrance standard reports. 2 Untitled DocumentORACLE DATA SHEET Carry Forward Year-End Budget and Encumbrance Amounts Easily Oracle Public Sector Financials provides flexible options for the year-end processing of outstanding encumbrances and available budgeted funds. You can automatically carry forward year-end encumbrances into the following year in Oracle General Ledger. Or you can carry forward budget amounts equal to encumbrances and/or funds available. Execute year-end carry forward a number of times for different ranges of accounts and for different encumbrance types. This allows you to distinguish easily between what does and does not need to be carried forward to the new year. Improve Compliance with Configurable Accounting Rules Oracle Public Sector Financials is integrated with Oracle Subledger Accounting, a powerful, rules-based accounting solution that provides consistent accounting treatment to transactions created across Oracle E-Business Suite applications. Configurable accounting rules enable compliance with multiple legislative, industry or geographic requirements concurrently in a single instance. As a common data model and repository for all subsystem accounting activity, Oracle Subledger Accounting increases transparency and enables full auditability of transaction and accounting information. It provides reports and inquiries to analyze accounting data across subledger applications and dramatically improves subledger to general ledger reconciliation. Oracle Subledger Accounting enables you to: " Account for your encumbrances (e.g. Requisitions (Pre-encumbrances), Purchase Orders (Encumbrances) and so forth) " Determine, with rules, how an account is built from transaction data " Balance payables and receivables transactions, by fund, automatically " Easily drill-down from balances to subledger transactions, whether budget, encumbrances or actual expenditure Automatic balancing of Interfund manual journal entries in Oracle General Ledger inter-fund transactions is based on intracompany balancing rules setup within Oracle Advanced Global Intercompany Systems. Comply with GASB s Asset Accounting Requirements The Oracle E-Business Suite offers a comprehensive solution to the asset accounting and reporting requirements of GASB 34/35 (Government Accounting Standards Board). The Oracle E-Business Suite enables you to simultaneously report capital acquisitions as expenditures in fund statements and depreciating assets in the new government- or university-wide statements required by GASB. At the same time, it allows you to charge these acquisitions to expense accounts in the general ledger. To comply with GASB 34/35 requirements you can use the flexible account structure, Asset Books, Oracle Subledger Accounting, Ledgers, financial statement generator and standard reports in the Oracle E-Business Suite. 3 Untitled DocumentORACLE DATA SHEET Oracle E-Business Suite The Complete Solution The Oracle E-Business Suite enables Public Sector organizations to efficiently enforce budgetary control and analyze business critical in formation manage customer processes, manufacture products, ship orders, collect payments, and more, all from applications that are built on a unified information architecture. This information architecture provides a single definition of your customers, suppliers, employees, products - all aspects of your business. Whether you implement one module or the entire Suite, the Oracle E-Business Suite enables you to share unified information across the enterprise so you can make smarter decisions with better information. Copyright 2007, Oracle. All Rights Reserved. This document is provided for information purposes only, and the contents hereof are subject to change without notice. This document is not warranted to be error-free, nor is it subject to any other warranties or conditions, whether expressed orally or implied in law, including implied warranties and conditions of merchantability or fitness for a particular purpose. We specifically disclaim any liability with respect to this document, and no contractual obligations are formed either directly or indirectly by this document. This document may not be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without our prior written permission. Oracle, JD Edwards, PeopleSoft, and Siebel are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners. KEY BENEFITS ORACLE PUBLIC SECTOR FINANCIALS ENABLES YOU TO: " Manage budgets and control spending real-time " Improve visibility of operational and financial information " Improve compliance with configurable accounting rules " Comply with GASB s asset accounting requirements RELATED PRODUCTS: " Oracle General Ledger " Oracle Grants Accounting " Oracle Loans " Oracle Payables " Oracle Payments " Oracle Public Sector Budgeting " Oracle Public Sector Financials International " Oracle Purchasing " Oracle Projects " Oracle Receivables " Oracle Treasury RELATED SERVICES The following services are available from Oracle Support Services: " Oracle E-Business Suite Accelerators " Oracle Application Solution Centers " Oracle University " Oracle Consulting 4
