Defining and maintaining learning budgets

Effective Date

Specify the effective date.

Development Period

Select the development period for which to define the budget.

Budget

Specify the budget name.

Description

Specify the description of the development budget. If left blank, the budget name defaults.

Currency

Select the budget currency. Budgeted amounts, estimated costs, and actual costs defined for the budget will be expressed in this currency, and resources must have the same pay rate currency to be included in budget calculations.

Eligibility Group

Select the eligibility group for the resources who can be included in this budget. Resources must meet the eligibility group criteria to be assigned to this budget both for budget calculations and for development activity requests.

Eligibility groups are defined in Infor HR Talent Setup as custom groups. They must be associated with the subject HCMGroupDevelopmentBudget.

If the development period has a legal entity, the resources assigned to the budget must belong to both the legal entity and the eligibility group.

If no legal entity or eligibility group is associated with the budgets, all resources within the organization with an active primary assignment and a pay rate currency that matches the budget currency are included in budget calculations and can request development activities.

Note: Click the Eligible Resources button to view the resources that are eligible for this budget.

Budget Category

Select the budget category for this budget.

Note: A budget category can only be associated with one budget within a development period.

Budget section

The fields in this section are populated after you calculate the budget.

Calculated Total Budget is the initial budget amount after you run the budget calculation program.

Distributed Budget Total is the total budget amount that has been distributed to managers.

Actual Total Budget is the total budget amount after you have made adjustments.

Note: 

You can click the Adjust Budget button to make adjustments to the total budget.

Undistributed Amount is the budget amount not yet distributed to managers.

Total Salary Amount is the amount to which the budget percent has been applied to produce the budget amount.

Salary As Of Date is the date used in the salary amount calculations.

Budget Percent

The budget percent defaults from the budget category. You can override it for the budget. This is the percentage applied to total calculated salaries of the resources eligible for the budget to provide the initial budget amount.

Note: The salary amounts are calculated by applying the applicable calculation methods to the eligible resource salaries.

Rounding Rule

Select the rounding rule to be used to round up budget amounts. If a default rounding rule exists, it automatically defaults to this field. You can override the value.

Note: The rounding rule is used both in budgets calculated using calculation methods, and budgets recalculated to equal the total standard costs of resource development activity requests approved for the finalized budgets. It is also used when calculating the estimated and actual costs for a resource activity request.

Budget Owner

By default, managers are the budget owners, which means the budget can be distributed and released to all the managers that own a piece of the budget. If you select Learning Manager, the distributed budget amounts are still calculated, but they are available only to the learning manager.

Recalculate Budget

This option determines whether the managers' distributed budget amounts will be automatically recalculated at the time the budget is finalized to equal the total estimated cost of the approved development activity requests for each manager.

If you do not select this check box, the distributed budget amounts will not change when the budget is finalized.

Note: This option does not impact the total budget amount. Only distributed budget amounts are involved in the recalculation.

Hourly Method

If your organization has resources that have an Hourly pay rate type, select the default hourly calculation method to be used in calculating budgets for this budget category.

Note: If a calculation method exists on the budget category, it defaults to this field. You can select a different calculation method.

Monthly Method

If your organization has resources that have a Monthly Salary pay rate type, select the default monthly calculation method to be used in calculating budgets for this budget category.

Note: If a calculation method exists on the budget category, it defaults to this field. You can select a different calculation method.

Annual Method

If your organization has resources that have an Annual Salary pay rate type, select the default annual calculation method to be used in calculating budgets for this budget category.

Note: If a calculation method exists on the budget category, it defaults to this field. You can select a different calculation method.

Maintaining development budgets:

• To update a development budget, open the development budget, update any of the editable fields, select an effective date, and save.

• To delete a development budget, open the development budget, specify an effective date, click Delete, and click Yes to confirm.

  Note: You cannot delete a development budget that is associated with a development activity request.