Mosaic team rolling out Hyperion, a new budget tool for McMaster

This month, McMaster will get a new tool to help manage the University’s budget.

The tool, Hyperion, is part of Mosaic — McMaster’s project to implement an enterprise resource planning (ERP) system.

Hyperion will integrate with the new finance system McMaster adopted last December and will allow budget managers to perform variance reporting, develop forecasts and build new budgets. It replaces the SAS FM tool that was previously used for these purposes. Hyperion will be used by all operating and ancillary units with activity in funds 20, 30 and 45, and has been tested by users from each fund.

Hyperion’s functions will be introduced in stages to match the McMaster fiscal cycle year.

This month, the tool will be available to perform variance reporting between the 2013-14 fiscal year’s actual results compared to plans and prior year. In September, academic faculties will perform the 2014-15 fiscal year five-month review using Hyperion.

In November, all units will use Hyperion to conduct the 2014-15 fiscal year eight-month review and build their 2015-16 fiscal year budgets. The launch of the human resources portion of Mosaic in October will allow Hyperion to access employee data thereby simplifying budgeting for next year’s compensation costs.

The new tool will be officially launched on July 21. Training sessions for users responsible for variance reporting of 2013-14 results will be held from July 22-31; users should already have received an invitation to training.

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