Plan, budget, and manage project expenditure using budget pools when you don’t know the detail of the projects or assets that you’ll be acquiring but need to preserve budget capacity to deliver the initiative.
The benefit of utilizing pools is that the Capex Approval of related purchases will be expedited as they will be treated as budgeted initiatives.
Key Concepts
Pools are only relevant at the proposal stage and do not progress to active projects.
Ensure all steps in the budgeting process are completed for the funding to be available in the Budget Pool.
Budgeted Pool funding on a Parent initiative is distributed to Child initiatives.
Budget is distributed from a linked Pool to a Child initiative to the extent of the available budget.
Budget distribution from the Budget Pool is automatically applied on Save or Submission.
The source of any budget distribution can be determined by clicking on the Budget amount in the Financial Summary
The Parent tab on the Child Initiative identifies all budget distributions that have occurred.
If a Child initiative is subsequently directly Budgeted via inclusion in an approval Portfolio Request, any previous Distribution will be reversed.
End users can only link initiatives to pools they are authorized to access. Access to Pools can be extended by adding specific users as Collaborators, or by granting users access to an Authorization Group that has access to the Pool.
Instructions
Creating a Pool
Create a new Budget Proposal.
Tick the pool check-box and complete the initiative justification and funding requirement.
Submit the Budget Pool for approval to the area manager as normal.
Include in Portfolio Request
Once approved, go to Portfolio Requests and select the Pool for inclusion in the budget.
Submit the portfolio request to the central CapEx controller for final approval.
Completing the Budget
Review and approve budget demands for each area.
Complete the budget version to make the funding available in the Budget Pool.
Utilizing a Budget Pool
Access a Budget Pool by initiating a Child initiative, and Saving the initiative as draft to generate a Initiative ID number.
Link the initiative to the Budget Pool by clicking the Linkages icon
and adding a Child relationship.Complete a normal business case submission for the initiative.
Click on the Budget amount in the Financial Summary to see the source of a budget amount.
Approval Process
Confirm that the approval workflow sequence is based on a budgeted initiative by clicking the Participants
icon in the initiative header.Submit the business case for approval following the budgeted initiative sequence.
Linked initiatives are maintained via the Link Icon 
which is located alongside the Attachments icon on the Initiative header.
Initiatives must be saved to generate a unique ID before they can be linked to a Pool.
After making changes to an initiative, click Save to refresh the budget distribution and approval sequence.