Annual Budget (AC20.2)

Use Annual Budget (AC20.2) to define and maintain budgets annually. You can define annual budgets for an entire activity group, including all activities; or for an activity group, specific activity, and account category. You must define at least one amount, factor, rate, or unit for each year. Period amounts are calculated automatically based on the annual amount entered.

You can define as many budgets as necessary, but can only have one active budget.

You can define budget edits, make changes to this budget, or lock this budget to prevent it from being changed. List budget information defined using the AC20 budget forms using Budget Listing (AC220). Report on the variance between activity budgets and actuals or between two budgets using Budget Variance Report (AC420)

Use AC21 (Budget Change Orders) to change a budget and provide an audit trail of your changes.

Note: You do not have to enter an amount, factor, rate, and units. If you define only two values, the system calculates the third. For example, Amount = Rate multiplied by (*) Units.

Note: The budget must be within the activity group or activity date range. For example, if the group is only for 2002, you can't define a budget for 2003.

Processing Effect

If the Budget line has two values, the program calculates the third using the formula:

Amount = Rate * Units.

If the budget has all three values, the program recalculates the amount as Rate * Units and rounds the amount and units.

In the Budget field, you can select Attachments and define URL links or comments.