iBudgets is a web-based interface to Oracle Financials that allows users to initiate modifications to Expense or Revenue Control information documented in the 9/1 University Consolidated Budget.
Modifications may be for planning purposes only or for actual changes when accompanied by iJournal Fund Transfers. Only 3XXXX, 4XXXX, and 5XXXX Expenditure Types are allowed for iBudgets transactions. To learn more about the budget process, refer to Topic Overview: Stanford’s Budget Process.
Types of Transactions
Used for creating budgets (expense control) for new PTAs, or for increasing or decreasing existing budgets (expense control). These iBudgets journals are for planning purposes and only affect Expense Control information on Expenditure Detail Reports. New/Increase/Decrease journals do not have to balance.
Used to move budget (expense control) amounts from one PTA or Expenditure Type to another. Journals may be one-to-one, one-to-many or many-to-one, but cannot be many-to-many. Transactions may be for planning purposes only or actual with related iJournal Fund Transfers. Journals must balance.
Enables upload of journals from an Excel spreadsheet to the database using a preformatted template. Upload journals may be used with any of the iBudgets journal types. Upload journals do not allow the automatic creation of a Fund Transfer entry in iJournals.
Transaction Approval Process
When a journal is created, iBudgets automatically selects appropriate approvers based on the awards involved in the journal. The list of approvers appears on the Routing List screen during the journal creation process.
- Authority for approving iBudgets is shown in Authority Manager as Financial Systems/Approval/Budget Control. For more information, refer to Topic Overview: Financial Transaction Approval.
- The originator cannot change or delete approvers' names that automatically appear on the routing list. To comply with department policy, approvers may be added.
- Journals require approvals for all awards involved, e.g. the From and the To of a reallocation journal.
- If the journal originator has sufficient authority to approve the transaction they do not need to add any approver, however the system will automatically add an end route as noted below.
- The system will automatically end the approval routing (i.e., End Route) with the Budget Officer(s) responsible for the award-owning organization(s).
- Approvers do not have the option of modifying the journal. If an approver finds anything wrong with a journal, they must reject the journal in order to return it to the originator for modification and re-routing.
- The department originator and approver are responsible for ensuring that the expenditures are appropriate under the terms of the award.
- Sponsor's award terms and conditions take precedence unless they are less restrictive than Stanford's policy.
To learn more about the approval process, refer to Topic Overview: Financial Transaction Approval.
Journals Awaiting Approval at Month-End
Journal originators are responsible for monitoring the approval status of their journals. Journals must be completely approved, including end-routes, by the cut-off date each month to be included in the month's activities. For more information, refer to Topic Overview: Month-End Close, the Month-End Close Schedule.
At the end of each month, the Financial Management Consulting & Support – Systems and Reporting Operations (S&RO) group will change the period of any unapproved journals in the system to the following month (i.e., the period for any November journals not approved by the cut-off will automatically be changed to December). An unapproved journal will remain active in the system until it is fully approved.
There are three levels of access to the iBudgets module, referred to as Login Roles. Login roles determine the activities that a user is able to perform within iBudgets. The four roles are SU iBudgets, Budget Owner, iBudgets Administrator, and iBudgets Manager.
"SU iBudgets" Responsibility
Allows access to the iBudgets system and the ability to initiate - but not approve - any type of iBudgets journal (increase/decrease or reallocation). This role does not grant the ability to initiate or approve a fund transfer nor upload iBudgets. Access is granted by school or department budget officers.
"Budget Owner" Responsibility
Allows access to the iBudgets system, the ability to initiate any type of iBudgets journal and the ability to approve iBudgets journals for the specified scope (owning org, award owner, or specific awards). Access is granted by school or department budget officers.
"iBudgets Administrator" Responsibility
Allows access to iBudgets, the ability to initiate iBudgets, the ability to approve iBudgets for the specified scope, the ability to upload iBudgets for routing, and limited ability to attach fund transfers to iBudgets. Access is granted by SU Budget Office.
"iBudgets Manager" Responsibility
Allows access to iBudgets, the ability to initiate iBudgets, the ability to approve iBudgets for the specified scope, the ability to upload iBudgets without routing, and broad ability to attach fund transfers to iBudgets. Access is granted by SU Budget Office.
For information on who can grant authority, refer to View Financial Authority Assignments.
The iBudgets eLearning course is in the process of being redesigned. This page will be updated when the new course is available.After you are granted authority, Authority Manager will show a Training Prerequisite that must be completed. To clear the prerequisite:
- Download and review the iBudgets User Guide
- Submit a support request to the University Budget Office (UBO) to clear your training prerequisite allowing you access to the iBudget system
- Use Budget Inquiry within iBudgets to access and print individual journals. This is the only place the Journal Justification is visible.
- For detailed information about budget vs. actual for expenditures, including by source (iBudgets, Budget Tool and Grants Accounting) use OBI Consolidated Expenditure Reporting Dashboard > Expenditure Balance Tab.
- For information about budget vs. actual for revenue and expenditures, but not by source (iBudgets vs Budget Tool) use OBI Revenue and Fund Management Dashboard > Budget Variance Tab.
For information about OBI, refer to OBI Financial Reporting.