11/03/08 Compensation Budgeting Pilots Starting
We are pleased to announce that Danforth Arts & Sciences and the School of Medicine’s Surgery and Siteman Cancer Center will pilot using the Cognos Compensation Budgeting application to develop their FY ’10 Compensation Budget.
In January, several other pilot departments will also begin using the RAPS Compensation Budgeting application for their FY ’10 Compensation Budget.
Danforth pilot departments include Engineering, Social Work, the Olin School of Business, and Information Systems and Technology.
School of Medicine pilots include Surgery and Siteman Cancer Center, Genetics, and Molecular Microbiology.
Next Fiscal Year, a University-wide roll-out of the applications is being planned.
If you have questions about the Pilot, please contact Jean Shuler at Jean.Shuler@wustl.edu.
The Compensation Budgeting model contains a very robust feature set:
- Data from HRMS is loaded into the application as a starting point which also reduces manual entry
- Salary history is available for review
- Salaries can be set for July 1st
- The budget can be adjusted by month and also supports budgeting of additional pay by employee
- New or open positions can be budgeted monthly
- Current sourcing is provided and updateable
- Fringes are spread by employee, by month by fringe type
- Aggregate amounts can be budgeted by month
- A budget by LC-Dept-Fund and SC by month is available for review
- A Budget Recap tool is available which helps ensure that the Budget is complete for submission