Mosaic launches the annual budget cycle in Hyperion

Hyperion Planning successfully launches, replacing SAS-FM

Hyperion, a part of Mosaic, a new tool to help manage the University’s budget and finance system, is now available to budget managers. This system will be used by all operating and ancillary units with activity in funds 20, 30 and 45 to submit next year’s budgets and forecasts for the remainder of this year.

This budget management system, that has replaced SAS-FM, has several important functions:

Builds financial plans for the current and three future years
Integrates with other parts of the PeopleSoft system, importing actual data from both payroll and the general ledger and sending back final forecasts
Allows budget managers to forecast their salary and benefit costs by employee
Calculates merit increase and step increases for employees automatically
Calculates benefits using rates for each employee group

In addition, this system can be used by managers to view the financial status of their departments and programs.

Training is complete, and learning materials are available on the budgeting services website.

Refer to the Daily News for additional background information.

Questions about Hyperion should be directed to Lou Mitton, mittonl@mcmaster.ca

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<h4>Hyperion Planning successfully launches, replacing SAS-FM</h4>
Hyperion, a part of Mosaic, a new tool to help manage the University’s budget and finance system, is now available to budget managers. This system will be used by all operating and ancillary units with activity in funds 20, 30 and 45 to submit next year’s budgets and forecasts for the remainder of this year.

This budget management system, that has replaced SAS-FM, has several important functions:
<ul>
	<li>Builds financial plans for the current and three future years</li>
	<li>Integrates with other parts of the PeopleSoft system, importing actual data from both payroll and the general ledger and sending back final forecasts</li>
	<li>Allows budget managers to forecast their salary and benefit costs by employee</li>
	<li>Calculates merit increase and step increases for employees automatically</li>
	<li>Calculates benefits using rates for each employee group</li>
</ul>
In addition, this system can be used by managers to view the financial status of their departments and programs.

Training is complete, and learning materials are available on the <a href="http://www.mcmaster.ca/bms/BMS_FS_Budgeting.htm">budgeting services website</a>.

Refer to the <a href="http://dailynews.mcmaster.ca/article/mosaic-team-rolling-out-hyperion-a-new-budget-tool-for-mcmaster/">Daily News</a> for additional background information.

Questions about Hyperion should be directed to Lou Mitton, <a href="mailto:mitton@mcmaster.ca">mittonl@mcmaster.ca</a>

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