Looking for clarification on how budget works in Compensation

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Our university is midway through a phased HCM implementation and I work on the ERP side, but am trying to understand how Compensation ties to the Budgeting. I see in upgrade notes that budgets can be created in Compensation for worker or manager level budgeting. I'm curious how this ties to the budgets that are set on the ERP side. Is there a correlation between the two budgets? Where is the budget information set or pulled from for Comp - does it come through Payroll, Finance, etc.? Also, would any changes on the budgets on the Comp side have any