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Solution Hub

NSW Government

Budget Escalation

Effortlessly Manage Budget Escalations with Precision and Speed

 

The Challenge

Treasury budget escalations posed significant hurdles for finanace teams:

  • Extensive manual calculations required
  • Time-consuming process of loading adjustments or updating original budget values
  • Tight deadlines for completion and balancing before submitting updated budgets to Treasury

Our Solution

Decision Inc. developed a comprehensive system featuring:

  • Automated capture and application of Treasury escalation rates
  • Flexibility to include/exclude specific programs (FUND/WBS)
  • Detailed reporting of pre/post escalation values
  • Individual, auditable journal entries for each escalation adjustment
  • Version-based process allowing multiple iterations, test versions, and alternate scenarios

Key Benefits

  • Time Efficiency: Automatic process with email notifications and Excel summaries
  • Scalability: Capability to run single or multiple year scenarios (10-year run typically completes in 30 minutes)
  • Accuracy: Automated updates to the Budget model with escalation adjustments
  • Flexibility: Allows for further adjustments, updates, or selective deletion of entries

Wider Government Application:

Our solution offers broad adaptability across government agencies:

  • Easy modification to suit different General Ledger and Cost Centre structures
  • Independence from specific ERP systems
  • Leverages structures within Adaptive for maximum flexibility

This system addresses common challenges in budget escalation processes while allowing for agency-specific customisations, making it a versatile solution for various government entities.

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