Budget Revision
Training - Background
Presented by:
Planning & Analysis
1
Planning & Analysis Website:
www.utrgv.edu/en-us/About/Administration/Financeand-Administration/Planning-and-Analysis
2
Planning & Analysis Contacts
▪ Juan C. Gonzalez, Associate VP
[email protected]
956-665-2121
▪ Eduvina Rodriguez, Sr Financial Analyst
[email protected]
956-665-7420
▪ Richard Wilson, Director
[email protected]
956-665-8702
▪ Magda Rangel, Financial Analyst
[email protected]
956-665-2924
▪ Frances Rivera, Associate Director
[email protected]
956-665-2195
▪ Jacob Gracia, Accountant I
[email protected]
956-665-2962
▪ Mary Aten, Sr Financial Analyst
[email protected]
956-882-6592
3
Topics to be covered
Background Information
• GL Accounting String
• Funds Checking
• GL Funds Inquiry
• Fiscal vs. Rollover Accounts
• Budget Revisions Needed
• Budget Revisions Not Allowed
• Drill Down Procedure*
4
GL Accounting String
99
Fund
9
X999
ing
d
n
u
F
ce
So u r
9
9999
Org
99
XXX
X
9
9
9
Proje
ct
9999
9
9999
99
U
ct
Obje NAC
BO
11.G0000.73160.110000042.53001.000060
Example: Planning & Analysis operating expense line
5
Fund
First Two Digits
11.G0000.73160.110000042.53001.000060
Ranges:
11 – Educational & General (E&G)
21 – Designated (DES)
31 – Auxiliary (AUX)
41 – Restricted (RES)
51 – Loans
61 – Endowment
71 – Plant
81 – Agency
6
Funding Source
Five Characters – A letter and 4 numbers
11.G0000.73160.110000042.53001.000060
Examples:
G0000 – E&G Unspecified (G1xxx is “Fund 1”; G2xxx is “Fund 2”)
*(For E&G always use G0000 for budget revisions regardless of actual funding Source)
D1000 – Designated
D2000 – Service Departments
D4000 – Indirect Cost Recovery
A1000 – AES Student Services
P0100 – Investment in Plant
R1000 – Federal Grant
R5000 – Private Grant
Z2000 – Agency Scholarship
(This list is NOT all inclusive)
7
Organization
Five digits
11.G0000.73160.110000042.53001.000060
Ranges:
72xxx – President
73xxx – Finance & Administration
74xxx - Research
75xxx & 76xxx – Academic Affairs/Colleges/School of Medicine
77xxx – Operations & Chief of Staff
78xxx – Institutional Advancement
79xxx – Govt & Community Relations
8
Project Value
Nine digits
11.G0000.73160.110000042.53001.000060
First digit of project will
correspond to the fund it
belongs to.
9
Object Code
Five digits
11.G0000.73160.110000042.53001.000060
Examples:
40001 – Revenue Budget
44600 – Transfer In Intrafund
51001 – Single Incumbent Salaries
51002 – Faculty Salaries
51003 – Longevity
51010 – Pooled Salaries
51101 – Wages
52001 – Employee Benefits
53001 – Operating Budget
53425 – Transfer Out Intrafund
54001 – Books
55001 – Scholarships
57001 – Travel
58001 – Capital Outlay
10
NACUBO Function
Six digit code used to classify expenses by function
11.G0000.73160.110000042.53001.000060
NACUBO codes to be used by UTRGV
000010 – Instruction
000020 – Research
000030 – Public Service
000040 – Academic Support
000050 – Student Services
000060 – Institutional Support
000070 – Operation & Maintenance of Plant
000080 – Scholarship
000090 – Auxiliary
000100 – Depreciation & Amortization
000110 – Agency
000120 – Hospitals & Clinics
000000 – Unassigned (Used only for Revenue & Transfers)
(What it stands for: National Association of College and University Business Officers)
11
GL Funds Check
To pass funds
check,
budget
changes
between
non-labor
expense
object codes
are not
required.
Budgeted Object Codes
▼
40001 Revenue
44600 Transfer In (Intrafund)
446xx Transfer In (Interfund)
51001 Single Incumbent Salaries
51002 Faculty Salaries
51003 Longevity Pay
51010 Pooled Salaries
51101 Wages
52001 Benefits
53001 Operating Expense
53425 Transfer Out (Intrafund)
534xx Transfer Out (Interfund)
54001 Books
55001 Scholarship
57001 Travel
58001 Capital Outlay
59001 Merchandise for Resale
▼
Summary Objects
▼
▼
▼
40000
50000
▼
49999
The Project
should not go
into a deficit
(negative
amount) at
the overall
99999 level
51000
52999
50001
51100
52000
99999
90000
53999
54999
55999
57999
58999
59999
60000
Oracle checks
funds at the
non-labor
expense
subtotal
60000 object
code.
12
GL Funds Inquiry Screen
Budget
Selection Criteria:
Budget should
be REVISED.
To choose
period type in
first 3 letters
and hit tab for
list.
– Encumbrance
– Actual = Funds Available
Hint: Start with
summary level
and then drill
down to detail.
Account
Balance is the
99999 Total.
A negative
amount is a
deficit.
13
Two Types of Accounts
Fiscal
• Funds lapse at yearend
• Ending balances DO NOT
carryforward to the
following year
Rollover
• Funds do not lapse
• Ending balances DO
carryforward to the
following year
14
Fiscal Accounts
•
•
•
•
•
E&G (11) & Auxiliary (31)
Funded by Expense Budget
Unencumbered balance lapses at fiscal yearend
Simply move budget to transfer funds between accounts within same fund
Budget revision transfer only requires a minimum of two lines
Budget – Encumbrance – Actual = Funds Available
Account
Budget
Encumbrance
Actual
Funds
Available
Operating (53999)
800.00
50.00
150.00
600.00
Travel (57999)
200.00
0.00
100.00
100.00
Non-Labor Total (60000)
1,000.00
50.00
250.00
700.00
Account Total (99999)
1,000.00
50.00
250.00
700.00
15
Rollover Accounts
•
•
•
•
•
•
Designated (21), Restricted (41), Plant (71), and Agency (81)
Funded by revenues (self-funded), transfers-in, and/or carryover balances
Balance before encumbrances carries forward to next year (non-lapsing)
Account is fully funded when revenue summary (49999) is non-negative
Transfer between accounts by actual funds transfer, not by simply moving budget
Budget revision transfer requires a minimum of four lines
Budget – Encumbrance – Actual = Funds Available
Account
Revenue (49999)
Budget
Encumbrance
Actual
Funds
Available
(1,000.00)
0.00
0.00
(1,000.00)
Operating (53999)
800.00
50.00
150.00
600.00
Travel (57999)
200.00
0.00
100.00
100.00
1,000.00
50.00
250.00
700.00
0.00
50.00
250.00
(300.00)
Non-Labor Total (60000)
Account Total (99999)
16
Rollover Accounts (continued)
Budget
Encumbrance
Actual
Funds
Available
(1,000.00)
0.00
(800.00)
(200.00)
Operating (53999)
800.00
50.00
150.00
600.00
Travel (57999)
200.00
0.00
100.00
100.00
1,000.00
50.00
250.00
700.00
0.00
50.00
(550.00)
500.00
Account
Revenue (49999)
Non-Labor Total (60000)
Account Total (99999)
Account
◄ $200
revenue shortage
(after $800 received)
Budget
Encumbrance
Actual
Funds
Available
(1,000.00)
0.00
(1,200.00)
200.00
$200 ►
revenue surplus
Revenue (49999)
Operating (53999)
800.00
50.00
150.00
600.00
(after $1,200 received)
Travel (57999)
200.00
0.00
100.00
100.00
1,000.00
50.00
250.00
700.00
0.00
50.00
(950.00)
900.00
Non-Labor Total (60000)
Account Total (99999)
Budget column total always equals cumulative carryover from prior years.
17
When is a budget revision needed?
• To set up the initial budget for a project
• To align expenditures with actual or anticipated revenues
• To fully fund labor costs
– Position Changes
– Benefits and Longevity (non-E&G accounts)
• To address or avoid funds checking failures in non-labor
expenses
• To transfer funds between two or more accounts
18
Which types of transfers are not
allowed?
• You should NOT do a transfer across funds (there are very few
exceptions but please contact budget office for assistance)
E&G
Fund
Designated
Fund
11
21
19
Transfers not allowed (continued)
• DO NOT transfer funds in or out of the following subgroups:
Prefix
SUBGROUP
Prefix
SUBGROUP
120
Lab Fees
140
Transfers from other agencies
130
Special Lines/state
transfers
24
Indirect Cost Recoveries
• DO NOT transfer funds to be used for something that would
violate the purpose of the funds.
Examples:
▪ Endowment income restricted to payment of scholarships may not pay travel.
▪ Fee revenue may not be used for purposes outside of the fee justification.
20
Drill Down Procedure
#1 Go into
#2
click
on
square
account at the
Summary level
#3
Click on
Period
Balances
button
21
Drill Down Procedure (continued)
#4
Place
cursor
on
month
you
want to
drill
down
into.
#5 Click on
Tools to get
drop down
menu
#6 You can choose between
seeing the Budget lines, Actual
lines or Encumbrance lines.
22
Drill Down Procedure (continued)
#9
The journal is
displayed
#7
The list of
journals which
make up the
amount will be
listed.
#8 Click
on Journal
button
23
Alternate Drill Down Procedure
1. Go into account at the summary level.
2. Place cursor on line you wish to drill down into.
3. Go to Tools on menu bar and select Detail Accounts from drop down menu.
4. Place cursor on the detail account line you wish to drill down into.
5. Go to Tools and select Period Balances
6. Place cursor on month you want to drill down into.
7. Go to Tools and select either Budget Lines, Actual Lines, or Encumbrance Lines
based on type of inquiry.
24
Question Time
UTRGV
25