Friday Feature - Budgeting Vacancy Assumptions

Continuing on our budget journey, let's talk some more about vacancies. In the last two Friday Features, we discovered how Escape Online "creates" vacancies based on the available FTE of certain assignment types (paid, timecard, extra and paid LOA). Our next step is to discover how Escape Online automates the budget calculation for salaries and benefits for vacancies. This week we will step through the salary calculation and next week we will focus on benefits. So, let's check out the vacancy salary calculation.

To do this, let's use our LIVE example from the Budgeting Vacancies Friday Feature of two weeks ago.

Vacancy Budget Entry
Vacancy Budget Entry

Ah, the memories. Okay, now let's walk through how Escape Online calculates the salary amount by reviewing the records that define the budget equation for this very simple vacancy:

SALARY * DAYS * HOURS

pic_news_ff_BudgetingVacancySalary
pic_news_ff_BudgetingVacancySalary

Escape Online uses the job class (Data Entry Clerk) to define the "assumptions" for the available FTE.

So, let's look at the Vacancy Assumption record for Data Entry Clerk to see the assumptions.

Here, we can see the Salary Placement ($13.03 an hour) for the job class.

This is the SALARY part of our equation: $13.03.

pic_news_ff_BudgetingVacancyCalendar
pic_news_ff_BudgetingVacancyCalendar

You can also see that the Calendar is CLASS-SY.

The Calendar holds the DAYS part of our equation.  So let's take a peek at the calendar record to see the number of days:  207!

Position Hours
Position Hours

Now we need the final part of our equation: HOURS.

For that, we need to go to the Position record. From the header of the graphic, we can see that we are in the right position (pos #1455 for a Data Entry Clerk). We can also see that the available FTE is an hour a day.

Now we have all of the parts of our equation:

SALARY * DAYS * HOURS
or
$13.03 * 207 * 1
or
$2,697.21

Amazing!

Escape Online performs all of this research and calculating automatically, saving budget gurus tons of time, making their journey to next year's budget that much easier.