A soft year end is coming in version 9 late this year. In this version you will be able to input your next years budgets prior to closing the current year.

On that basis I would not make any major investment in new processes to accomplish your task. Do you mean by "I want to be able to utilize my reports in report writer to start producing budget reports for management." the Ledger Finanacial Reporter?

Would it be possible to just do something in Excel for this year?