FAST Budget and Forecasting Module Project

Overview:

Millennium’s FAST Budget and Forecasting application allows for both centralized and decentralized Budget development, Position management, and Forecasting. This enables departments to view and edit numerous budget scenarios, forecasts, and multi-year plans for their areas. It allows for detailed entry of dollars and FTE information and can track down to the employee and position level.  As new features are realized and explored, ISU continues to identify potential efficiencies and relay them to the campus budget and finance community. 

Status:

ISU has implemented the Millennium FAST Budget and Forecasting module and is currently utilizing the module for our FY23 budget cycle. 

Features:

• Central budget management and administration with decentralized budget development
• Create and manage budget series for multiple fiscal years
• Unlimited what-if scenario planning
• Establish and manage position budgets
• Decentralized budget transfers
• Automated benefit model for salary information
• Integrates to ERP finance to provide actuals and commitment data
• Integrates with HR to provide job and position information and report on variances

For any questions on the Budget and Forecasting module, you can reach out to russmayer@isu.edu, or contract Russ by phone at 208-282-3181.