Budgeting and Planning System
The Office of Planning and Budget (OPB) manages the university’s budgeting and planning system, called Workday Adaptive Planning. Adopted in November 2020, this system helps ASU make accurate financial plans and track financial performance across the university.
Who uses the system
More than 300 budget staff and leaders across ASU’s colleges, schools, auxiliaries, and administrative support units use the system to create, review, and monitor their budgets.
How it works
- Connected systems: The budgeting tool links directly to ASU’s finance and human resources systems. This means that departments stay up to date with financial reports that incorporate current data on actual revenues and expenses.
- Position and salary planning: Departments can see daily updates on salaries and staffing, which makes it easier to plan for hiring and forecast future costs.
- Reports and analysis: The system includes easy-to-use reporting tools, so departments can quickly create summaries or drill down into details. For advanced analysis, departments can also use OfficeConnect, an Excel add-in.
- Budget entry and commitments: Departments enter their revenues, expenses, transfers, and salaries directly into the system. OPB also uses this information to track and allocate central funding commitments to departments.
Why it matters
- Good stewardship: The system helps ASU be good financial stewards of the resources entrusted to us. It ensures that the financial aspects of operational plans align with actual results and that decisions are based on accurate, timely information.
- Transparency and consistency: Because data flows directly from ASU’s finance and HR systems, financial plans remain accurate and consistent.
- Flexibility: Departments can analyze data in multiple ways, compare results with past years, and see how different funding sources are allocated within their unit.
- Integration with the official record: Each year, approved budgets are loaded into ASU’s financial system of record, enabling direct comparisons between planned and actual results.