Reallocating Budgets

Sheila and her colleagues have found that one investment plan has budget allocated that is urgently needed in another investment plan. They want to request a budget transfer to allocate the money for the investment plan in need of budget. In a third investment plan, budget must be cut on initiatives that are not working. Sheila request a budget adjustment.

Users to whom the Editor or Administrator role is assigned can initiate a transfer or adjustment and move money from investment budget totals. Once a request has been submitted, the requester can monitor the process with a transparent approval workflow that shows which budget reallocations were completed, are still pending or denied. Also, users can view any request as well as a history log for audit purposes.

User submits a new request from either the Roll-up panel, or from within an investment plan. The request will be then captured in the Request view with a Status=Pending and the approvers will be informed via e-mail.

The further approving procedure differs whether it is a transfer or an adjustment:

  • Transfer: In a transfer, budget is transferred from one to another investment plan. Both the outgoing and incoming sides of the transfer must have one approver confirming the transfer. If there are several approvers for a side, confirming by one user is sufficient. The approval automatically applies to both sides in case a user is assigned as an approver for both sides.

  • Adjustment: In an adjustment, only the budget of one investment plan is adjusted and either increased or decreased. Therefore, only an approver of the adjusted budget must confirm the adjustment.

If the requesting user is registered as approver, the user's part of the approval is considered self-approved.

If approved, the said targets (investment budget totals) in request will be updated to reflect the reallocation and the requester will be notified of the status by e-mail. The Requests view will display all historic transfers and adjustments.