November 15, 2024

What's new around the preverbal water cooler? 

The Forecast- We have a new resource for those with questions about your Forecast. The FY25 Forecast Overview video video is now available, answering the What, Why, and How. Watching this video will equip you with the knowledge you need to make changes to your Forecast data. 

Multi-Year Training-  A training video is coming out on November 21st, and will explore what the Multi- Year is, how it is populated, planning expectations, and how to complete your future plans. We are strongly encouraging all units to complete their multi-year planning before Christmas break.

Communication- We're introducing a new, more efficient way to deliver information. We want to make it easier to find and digest the information related to Financial Compass. From now on, all detailed communication will come via email. Each subject line will be dated and provide a clear overview of the content. We will continue to update the announcements on the FC Navigation Page and FC webpage with a summary of the information included in the email.

The C.A.R. Report- Just a reminder that the CAR Report provides an ongoing list of Changes, Adjustments, and Revisions that have been made in Financial Compass. If you have not been in the tool for a period of time, it’s helpful to reference this report to find out what’s new. There are two new tabs on the  CAR Report  to increase awareness and provide additional information to campus about Financial Compass:.

These tabs are not just new additions, but they are tools that help everyone stay connected to future goals and remind us how far we have come.

FC Tableau Reports- Does your leadership or colleagues have a need to view any of the FC Tableau Reports (like FlexView) but are not in Financial Compass? If so, we’ve got you covered; simply email Greg Schaefer with their name and NetID. Please note that the FC Tableau Reports are based on GLez security access, so if they can see the FOP in GLez, they can see it in these dynamic reports. We’re here to help you access the data you need. 

The Budget Office is working with various Financial Compass users to gather their experience and feedback on the tool, with the goal of gaining a deeper insight to Academic and Administrative campus needs and where to focus enhancement efforts. The Focus Groups have cross-functional representation and include the following campus partners:

This Fall, we started brainstorming improvement opportunities, ranging from communication to reporting. These discussions will continue periodically throughout the year to identify optimization opportunities and future enhancements that will improve the effectiveness and efficiency of the planning processes. The Budget Office would like to extend a special thank you to these campus partners for their valuable insight and support on this continuous planning journey!

Reminders & Key Dates  

*Invitations are on your calendar. These will be recorded and made available for viewing if you are unable to attend.

This video is a guide for you to expand your understanding of future planning and what the expectations are around Multi-Year planning.

This LNL will focus on reminders and questions related to the Forecast and Multi- Year. Watch the FY25 Forecast Overview and the Multi-Year videos in advance, as all of that content will not be covered in detail during this session. This will be an opportunity to ask questions on either of these topics.

This LNL will focus on Tableau Report 10.00 Financial FlexView for Forecast and Multi-Year planning.

This LNL will focus on Workforce planning in the Forecast. 

Updated FY25 Forecasts are (by 11:59 pm). A snapshot of Financial Compass Forecast data will be taken at this time and used in reporting for University leadership.

"Change is the law of life. And those who look only to the past or present are certain to miss the future"

John F. Kennedy

Communication #16