These are FAQs address questions we have received to date. Please contact Darshan Harrinanan for further questions at email@example.com.
For the next budget planning year, will we be able to choose whether we use the B6 or the new tool?
The B6 will continue to be used to plan compensation expenses for budget year 2020-2021 while we tune the Questica platform.
Will we have access to this tool year-round or will it only be available during certain periods in the budget cycle?
Currently, we release the B6 information once a year in January or February in anticipation that users are going to prepare their budget during the period leading up to the end of March or early April. Using Questica will allow divisions to populate their plan sooner in the cycle using earlier information.
Is this tool available to all U of T departments?
Yes, this tool will be available to all U of T departments that are currently involved in the compensation planning for the operating budget process.
What is the relationship between this tool, the Human Resources Information System (HRIS) and the Financial Information System (FIS)?
This tool will retrieve information from HRIS but will not write back to HRIS (e.g. it would include employee information and payroll amounts). This tool will retrieve information from FIS but will not write back to FIS with the exception of plans.
Will forecast assumptions be entered centrally or by divisions? For example, assumptions about USW gap years?
Divisions may make assumptions for outer planning future years, but we don’t currently have a single default for assumptions. Settlements or where there are settlements in place for outer years will be entered. We will be giving the divisions the ability to make assumptions about the cost of compensation for planning future years.
Will the tool allow or generate reports in Excel for further planning at the departmental level?
There is export functionality in most screens in Questica for further analysis.
Can this (CPT) be used as a multi-year planning tool such as a five-year plan?
Yes – the objective is to be able to look forward beyond the current year’s budget to a five-year compensation plan.
Currently with the B6 module, we have phase one and phase two. Will this tool have two stages as well?
Yes, there will be two stages but it will probably have a slightly different format. The CPT will maintain the core functionality of the B6 phase 2, i.e. calculate the proxy of the PTR pool. The impact of the compensation settlements will be the calculation of salary increases so you will be able to see the multi-year impact of these increases.
Will this tool capture stipend or compensation payments made to faculty members’ medical professional corporations via FIS as opposed to T4A payments?
Yes, it will. The Compensation Planning Tool will allow users to plan compensation-related expenses and recoveries that may not be captured in HRIS such as medical corporations.
Will this tool capture recurring payments from both HRIS and FIS for planning purposes if the agreement is over multiple years?
Yes, if it is entered into HRIS with an end date, it will be taken into consideration and will be projected out.
How about T4A compensation?
If the payment goes through HRIS, then yes but if we’re talking about say for example, research stipends to a graduate student that is paid though ROSI – those may not be captured in the Compensation Planning Tool because they would not be paid as compensation.
Isn’t this tool for operating funds centers? That is, not research funds?
We will include the research grants as a funding source for information purposes only. The objective is to get to the portion that is operating funding. The export will be compensation CO plans/CC plans for operating budget purposes but the research information will be there for completeness.
When can we schedule a joint training session for our team?
Joint sessions will be coordinated by the project team and divisional representatives as we move towards go-live. Please stay tuned for more information.
When will this tool will be open to be used by divisions?
During the configuration and development phase, the functionality and flexibility offered by Questica have met our expectations; however, when loading our large volume of complex data into the Compensation Planning Tool, we have recently experienced issues with adequate system performance and processing times.
A revised go-live date for the budget year 2021-2022 will be published after consultation with Questica is complete.
What is the expected duration of quality assurance and user acceptance testing to ensure the tool will ready by December?
We have allocated 1.5 months for quality assurance and user acceptance testing. Given that we are using an agile development methodology, we are testing units of development as they are completed by Questica.