SAGE Budget recognizes the approved benefit rates for the current fiscal year and the preliminary rates for the next fiscal year when they are available. When creating your budget, you can choose to use either just the current rates or current and preliminary rates. The system will use the appropriate rate based on the starting date of each period.
Once the preliminary rates are officially approved and available, you can easily update the benefit rates in your budget. Click the Properties tab. In the Global Attributes section, verify your choice of benefit rate type (current-only or preliminary), then click on the Update Benefit Rates link. This will update the rates for all personnel, for all periods.
To update just a specific individual, click the Salary and Wages line of your budget worksheet, click the name of the person whose benefit rate you want to update. Select Update Periods, and determine the first period in which the rates need to be updated. Under Benefits, click Update Rate. This will update the benefit rate for this person for the current period and all future budget periods.