Summary
Provides departments the ability to forecast compensation and non-compensation expenses at the employee/subcode/account level for all non-grant accounts (entities 02, 03, 04, 06, 09).
Body
Overview
The Operating Funds Forecasting (OFF) module is a large-scale enhancement to the current PBCS Planning application. OFF provides departments the ability to forecast compensation expenses at the employee level and non-compensation expenses at the subcode/account level for all non-grant accounts (entities 02, 03, 04, 06, 09). It is part of the University's Oracle Planning and Budgeting Cloud Services suite (PBCS) also known as Enterprise Performance Management (EPM).
This initiative represents a collaboration between Pitt Information Technology and the CFO's Office and is based on a firm commitment to providing centrally-supported budget and financial tools. This new tool aligns with the previously released Grants Forecasting applications. These systems align with the University's new Budget ReSTART model designed to empower Responsibility Center leaders with greater financial oversight and decision-making.
Data from this application is exported nightly to the Fiscal Panther Hub dashboards created to provide University administrators greater visibility into all financial data in one platform, including transaction level details. For more information, see Understanding Data Timing.
Key Benefits
- System driven calculations for compensation, fringe benefits, and annual salary increases
- Allows you to proactively monitor actual and expected expenses without the need for additional data-entry
- Provides a common forecasting link between University departments and the Office of the CFO
Detail
Steps to Get Started
Access to Operating Funds Forecasting is granted through completion of a user form.
To request access:
- Complete the user form found here.
- Submit the form to Pitt IT via a help ticket.
- Training and resources can be found on the application SharePoint site.
To use Operating Funds Forecasting:
- Log in to My Pitt (my.pitt.edu)
- Search for “Operating Funds Forecasting,” then select the task from the results.
- At the Oracle Cloud sign in page, click Pitt Passport login option at the botton of the page
- In not already logged in, enter your University Computing Account username and password, then click Sign In.
**For access to the corresponding Fiscal Panther Hub dashboards, users must also have access to the GL Mart. GL Mart access is requested through the Federated Authorization process.