Checklist for Editors: Capital Budgeting - Start Your Next Budget

Before You Begin...

Refamiliarize Yourself with Capital Budgeting

Watch this video overview: 5 Steps to Capital Budgeting Success

Register for live sessions of our Year 2+ Group Training Workshops: Year 2+ of Capital Budgeting - Return of the Request

4 Steps to Start Your Next Budget

Step 1: Create a New Budget

Create a new Capital Budget just as you did before, but this year, you will want to think through what you should carry forward. You have a few options when it comes to carrying forward requests from a previous budget including carrying forward all requests, select requests or only requests that are budgeted for the current fiscal year and beyond. 

Note: If you do want to start from scratch, toggle off the Carry Forward Prior Capital Requests in the upper left-hand corner above options. Then select Create New Capital Budget.

Resources: 

• Create a New Capital Budget
• Utilize Prior Year Carry Forward
• Archiving, Deleting and Restoring a Capital Budget

Step 2: Review Capital Request Forms

Review and create any Capital Request Forms to collect the necessary information for this year’s budgeting decisions and confirm that current funding sources are appropriate for this year’s budget cycle.

Archive any unused forms to avoid confusion and add, review and update Request Groups as needed for your organization to effectively categorize Capital Requests for this year’s budget requests.

Resources:

• Request Forms
• Request Groups

Step 3: Review the Scorecard

If you utilized the scorecard in your forms in the last budget cycle, be sure to review the scorecard to ensure it is up-to-date with your organization's current prioritization. Didn’t use the scorecard last budget cycle? No problem! You can use it this year in your forms by updating your scorecard settings. 

Note: The Scorecard feature requires a paid Capital Budgeting subscription. Please reach out to your Customer Success Manager if you have questions. 

Resource: Scorecards

Step 4: Review Collaborators

Review editors, contributors (and their teams) and reviewers to ensure your lists are up-to-date. Add any new collaborators and create any new team's as necessary for this year's budget. 

Remember: If you are an editor for a capital budget and wish to create and submit capital requests, you will need to add yourself as a contributor, invite yourself to the budget, and use the Contributor toggle in the upper right-hand corner to switch your role.

Resources: 

• Create Teams
• Add Collaborators

Need Additional Resources?

Feel free to search our Support Center or review resources on this specific module: Capital Budgeting