When you click the Add Sub Budget link on the Sub Budgets tab, a modal window displays that allows you to create a new child budget.
- Enter a Working Title for the sub budget. The default value is New Sub Budget.
- Select the appropriate Budget Type from the drop-down menu. The default value is Internal UW Budget. Note: you cannot change the sub budget type once you have created the sub budget.
- If necessary, update the information for the Fiscally Responsible Department field. The default value is the UW Organization Code Receiving Funding, as entered on the Properties page.
- Click Save to create the sub budget, and return to the Sub Budgets list page.
The new sub budget will be listed with the unique Ref # the system generated. It will have an origin of “Sub budget created as a direct child of” with the Reference Number of the parent budget.
There are three Budget Types.
|Internal UW Budget||This inherits all of the parent budget’s UW business rules, benefit rates, and F&A settings, and therefore it can be used to break out budgets for separate UW departments, for example.|
|Fabrication Budget||The data in this sub budget rolls up to a single line on the parent budget under the (06) Equipment category.|
|Subcontract Budget||The data in this sub budget rolls up to a single line on the parent budget under the (03) Other Contractual Service category.
A subcontract sub budget can also support custom external F&A rates and external benefit rates. You use the F & A tab to set up the rate for just the subcontract. As you add each person to the sub budget, you can enter the appropriate benefit rate in the first period window.