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Understanding Commitment Control and Budget Management in the myUFL System

This session provides an overview of Commitment Control, focusing on budget management within the myUFL system. Participants will learn key concepts including budget-based vs. cash-based funds, the significance of ledger groups, and the use of ChartFields for revenue and expense transactions. Key aspects of the system, such as security roles and budget inquiries, will be discussed. The session format includes lectures, hands-on exercises, and references to a study guide. Join us for a comprehensive exploration of these important financial processes.

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Understanding Commitment Control and Budget Management in the myUFL System

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  1. PST950Budget & Commitment Control

  2. Housekeeping • Sign-in roster available later – get credit! • Break • Restrooms • Cell phones or pagers • Email – Wait until break to check • Fire/Fire Drill Procedure HRS Bridges HSC HRS

  3. Today we’ll discuss • Definitions and Key Concepts • myUFLChartFields • Commitment Control: Fundamentals • KK Budget Inquiry: State Appropriations • KK Budget Inquiry: Grants

  4. Today we’ll discuss • Commitment Control: Budgets Overview • Checking Budget Exceptions • Manager Self Service: Notify Preferences • KK Budget Inquiry: Cash-Based • Summary and Conclusion

  5. 1 WHAT’S THIS? This icon on a presentation slide points you to the page number in your Study Guide where you can find the content you’re viewing in the PowerPoint presentation. Class Format • Lectures/Explanations of Topics • Reference: Study Guide • Hands-On Exercises • Reference: Apply It Handout

  6. Definitions and Key Concepts

  7. Definitions & Concepts • The myUFL System… Is a collection of online services and business processes, which includes - The Portal - A Finance System - A Human Resources System - An Enterprise Reporting System - A Student Financials System

  8. Definitions & Concepts • Security Roles • Security role UF_FI_UNIVERSAL_INQUIRY allows you to view all FI modules (requires request by DSA) • Security role UF_KK_BDGT_TRANSFER_PROCESSOR allows you to conduct Budget Transfers (requires PST952 completion, request by DSA and approval by UF Budget Office)

  9. Much more later… Definitions & Concepts • An accounting methodology in myUFL that identifies and reserves (“commits”) funds for future payment obligations • Designated “KK” because… “CC” = credit card in myUFL • Commitment Control (“KK”) is…

  10. Definitions & Concepts • Ledger Groups • Provide information associated with the category of budget • Different ledger groups for different “categories” of budget available to departments • Different sources of funds, different “rules” associated with spending

  11. Definitions & Concepts • Ledger Groups (Continued) • For example, APPROP CASH_BASED KKGMCHD • Much more later…

  12. 2 Definitions & Concepts • Budget-Based vs. Cash-Based Funds • The distinction between budget-based funds and cash-based funds determines your “available spending authority”

  13. Definitions & Concepts • Budget-Based Funds • Budget allocations funded from State Appropriations (including student tuition revenue) • - made in lump-sum amounts by the University Budget Office • - as determined by UF’s RCM budgeting model • These allocations may be further allocated to colleges, centers, and divisions

  14. Think of budget-based funds as a credit line that has been extendedand guaranteed to your department Definitions & Concepts • Budget-Based Funds (Continued) • Once the budget allocation has been made, these funds can be spent • Sponsored Projects also are considered “budget-based”

  15. Definitions & Concepts • Cash-Based Funds • Available resources (operating budget amounts) are based on beginning cash balances, plus revenue, less expenditures • Includes Auxiliaries, Component Units, Returned Overhead and Residuals, as well as others

  16. Think of this as the cash you havein your wallet — you must have thecash in your wallet in order to spend it Definitions & Concepts • Cash-Based Funds (Continued) • These funds can be spent only when the “cash” has been obtained

  17. Definitions & Concepts Questions or Comments?

  18. myUFLChartFields

  19. 2 myUFL ChartFields • ChartFields are the data entry fields that, used in proper combination, allow the completion of revenue and expense transactions within myUFL • Let’s look at an example of how ChartFields might be used in myUFL to set up a Budget Inquiry...

  20. myUFL ChartFields Defining the criteria for a Budget Inquiry, for example, requires the entry of data into specific ChartFields.This is the Budget Details form (ChartFields) where you can define a Budget Inquiry.

  21. myUFL ChartFields • These ChartFields are required on ALL transactions:

  22. myUFL ChartFields Required on all transactions • Sometimes called a “GL Unit” (General Ledger Unit) UFLOR, for example UFLOR

  23. myUFL ChartFields Required on all transactions • Department IDs have eight digits • Required for myUFL financial transactions • Used to identify your organizational structure 01020000

  24. myUFL ChartFields Required on all transactions • Answers the question “Where does your department’s money come from?” • There are 82 valid Fund Codes from which to choose 101

  25. myUFL ChartFields • Fund Code Examples • 101 E&G Gen Rev, Main Campus • 102 E&G Gen Rev, HSC • 103 E&G Gen Rev, IFAS • 171 Transfer from Component Units • 201 C&G Federal Restricted • 209 C&G Other Restricted

  26. myUFL ChartFields Required on all transactions • Answers the question “Why Are You Doing This?” • Examples: 1100 4400 Computing Supp4600 Academic Admin6100 University Supp 0100 Physical Plant Admin0500 Custodial Services1100 Instruction & Research2200 Individual/Proj Res

  27. myUFL ChartFields Required on all transactions • Answers the question: “What are you doing?” • Used to specify the classification of activities • Six-digit code 700000

  28. myUFL ChartFields  Account ChartField value that begins with: 1 represents Assets 2 represents Liabilities 3 represents Fund Equity 4 represents Revenue, Operating 5 represents Revenue, Non-Operating 6 represents Expenses, Personnel Operating 7 represents Expenses, Other Operating 8 represents Expenses, Non-Operating 9 represents Statistics & Self-Balancing

  29. myUFL ChartFields • Some FUND CODES require additional ChartFields. For example: • is required with these Fund Codes Dept Flex:

  30. myUFL ChartFields Source of Funds: • ChartField is required with these Fund Codes:

  31. myUFL ChartFields • Fund Codes 201, 209, 211, 212, 213 and 214 require these additional ChartFields Project: PC Business Unit: GRANT (for grants = “1”) Activity ID:

  32. myUFL ChartFields • For more information on ChartFields… • See the ChartFields Toolkit http://hr.ufl.edu/training/myUFL/Toolkits/chartfields.asp

  33. myUFL ChartFields Questions or Comments?

  34. Commitment Control:Fundamentals

  35. 4 Commitment ControlFundamentals • Commitment Control is a function of myUFL • Used to control commitments and expenditures automatically by checking them against predefined, authorized budgets • Will stop transactions that would exceed budget

  36. Commitment ControlFundamentals • Commitment Control will • Track the following against a designated budget •  Encumbrances Expenditures

  37. Commitment ControlFundamentals • The Cycle for financial transactions: • PURCHASE ORDER: KK creates an encumbrance • VOUCHER: KK relieves the encumbrance, creates an expenditure

  38. Commitment ControlFundamentals • In general, Commitment Control (“KK”) answers the question: “What is my available spending authority?” • If you do not have sufficient budget or available cash, the process will be stopped • Available spending authority is defined in five categories, or ledger groups…

  39. Today’s primary focus: 1, 2, 3 Commitment ControlFundamentals • The five ledger groups are: • State Appropriation APPROP • Cash-Based CASH_ BASED • Grants KKGMCHD • Construction CONST • Student Government STUGOV

  40. Commitment ControlFundamentals • Each ledger group calculates - Available Spending Authority, or - Your “Available Spending” Balance

  41. Commitment ControlFundamentals • Each Ledger Group is • Related to different FUNDING SOURCES, each with a different set of “rules” for spending • Let’s look at the respective Funding Sources…

  42. 4 CASH_BASEDLedger Group APPROPLedger Group • Component Units - Auxiliaries- Returned Overhead • Cost Sharing • State Appropriations KKGMCHD Ledger Group FL FL - Sponsored Projects Commitment ControlFundamentals • Different funding sources are grouped under the same ledger group (“color of money”) CS

  43. CONSTLedger Group - Funds for Capital Projects STUGOVLedger Group - Activity & Service Fee Commitment ControlFundamentals

  44. 5 Commitment ControlFundamentals

  45. Commitment ControlFundamentals

  46. 6 Commitment ControlFundamentals

  47. SP Commitment ControlFundamentals

  48. 7 Commitment ControlFundamentals

  49. 7 CS Commitment ControlFundamentals

  50. 8 CU Commitment ControlFundamentals

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