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Published January 22, 2018
The University of Wyoming’s Budget Office is pioneering the effort to modernize UW’s budgeting and planning processes with the implementation of Oracle’s Enterprise Planning and Budgeting Cloud Service.
As a part of the broader WyoCloud initiative, the UW Budget Office is releasing today (Monday) the new WyoCloud Planning and Budgeting system. WyoCloud Planning and Budgeting provides UW with the ability to modernize, streamline, simplify and enhance the university’s integrated budgeting, planning and forecasting processes through data-informed decision making.
“The WyoCloud Planning and Budgeting system will help us streamline the way we budget and forecast at UW, and will have a significant impact on how we plan for the university’s future,” says PJ Shumway, Budget Office executive business analyst who led the new planning and budgeting system. “It’s exciting to see us progress from spreadsheets just a year ago, to a comprehensive and sophisticated planning and budgeting system. The system is now ready, and I look forward to working with the users to complete their forecasting and budgeting responsibilities.”
The primary objectives of the WyoCloud Planning and Budgeting system are to:
-- Provide a specific set of processes and procedures for campus users to perform their annual and multiyear budgeting and forecasting plans, with the flexibility to grow with UW’s changing needs.
-- Integrate with existing technology to provide campus with consistent and timely budget data.
-- Supply reporting and analysis of the budget and forecast across the UW campus.
-- Facilitate budget vs. actual variance analysis and allow for more frequent forecasting updates based on the reallocation of university resources.
The WyoCloud Planning and Budgeting system will be used by more than 70 employees across campus to assist with budget development and financial analysis, planning and forecasting for the university’s units, schools and divisions, Shumway says.
For a list of the users who have access to WyoCloud Planning and Budgeting, visit the UW Budget Office website at www.uwyo.edu/administration/fiscal/budget/.
Shumway says there are many different training resources and additional support available for employees who are impacted by the new system and the new processes it brings to campus.
Quick reference guides are available on the WyoCloud Knowledge Base, along with FY19 budget development guides and standard administrative processes on the UW Budget Office website. Instructor-led training sessions and open labs also are offered, with a full schedule available through WyoLearn.