FAB stands for Forecasting, Analysis, and Budgeting. It is a tool that does the following
- Serves as data entry portal for budget/plan creation.
- Includes planning of salary (staff) and non-salary expenses for upcoming projects for fiscal years.
- Is integrated with the HRIS system to ensure current (next-day) availability of employee position and salary information.
- Is integrated with the core financial system to provide analytical budget and actual reporting views that help inform changes to the future plans.
- Is integrated with the Time Card application to ensure account keys get added to employee time cards for upcoming assignments.
- Provides core analytical reporting grids for forecasting (actuals-to-date + future plans) analysis.
- Allows for the delivery of reporting in Cognos BI that combines planning and actual information for program and department budget and staff plan management.
