In Workday Financials, Plan (also known as Budget) is a summary of cost proposed or awarded on a sponsored award. All awards are required to have a Plan set up as part of the award creation process.
During the life of the award, the Plan can be amended (increase or reallocation) as necessary to better reflect the financial scope of the award. Schools/Departments can use the Budget Amendment event in Workday to process detailed budgets and budget reallocations. Budget Amendments submitted by department must be balanced, meaning increase and decrease must equal. This is indicated by the Balanced Amendment flag and Budget Amendment Total = $0 (on header of the Budget Amendment).
The initial Plan on the award will be established based on the awarded agreement (e.g., personnel, travel, etc.). Should the initial established plan not fit the financial scope of the award, the department can initiate a Budget Amendment using the Amendment Type called “Detailed Budget”. This Workday process replaces the SPA Detailed Budgets Request Form (via Wufoo).
A Detailed Budget allows the department to take the generic Direct Cost/Award Budget Only object class into specific object classes/spend categories, or just further refine them into more specific object classes/spend categories (e.g., personnel subject to fringe benefits, fringe benefits, domestic/international travel, etc.). This allows departments to update the Workday Plan to reflect what was originally proposed/awarded by the sponsor, and better track the spending and balances of the grant.
In addition, a Detailed Budget amendment type is also used when transferring the new/modification funding from the master Grant ID into the satellite Grant ID. The transferring funds must be within the same object classes or refined object class/spend category as the master.
A Budget Reallocation allows department/schools to adjust an existing Plan to better match with actuals or projected grant spending. Like Detailed Budgets, Department will initiate an award Budget Amendment event using the Amendment Type called:
- Reallocation/Rebudget (Between grants within the same award)
- Reallocation/Rebudget (Within same grant)
The Budget Amendment event does not have the terms and condition validation and Fringe Benefits and F&A calculations. Department must obtain all the necessary approvals and add as attachments (if applicable) before submitting the Budget Amendment for reallocation. While SPA will review budget allocation requests, the department is also responsible to ensure compliance with the award’s terms and conditions.
For information on how to process the award budget amendments in Workday, please visit the Workday Hub QRG.