1 / 8

LAPSE GUIDELINES FOR FISCAL YEAR-END BALANCES

LAPSE GUIDELINES FOR FISCAL YEAR-END BALANCES. Lapse Guidelines – Educational & General Funds (14 – Accounts). Special Items & Research Development Funding must be fully expended in the 2 nd year of the biennium. Deficits must be covered during the lapse process.

keefe
Télécharger la présentation

LAPSE GUIDELINES FOR FISCAL YEAR-END BALANCES

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. LAPSE GUIDELINES FOR FISCAL YEAR-END BALANCES

  2. Lapse Guidelines – Educational & General Funds (14 – Accounts) • Special Items & Research Development Funding must be fully expended in the 2nd year of the biennium. • Deficits must be covered during the lapse process. • Budget will coordinate with affected areas. • Disposition of E & G balances is based on each Vice President’s direction for their areas. (New eff. FY12) • Certain accounts are not subject to the lapse, including reserves, GIT & lab fees

  3. Lapse Guidelines Designated Funds(19 – Accounts) • Deficits not cleared prior to year-end will be cleared during the lapse process. • Budget will coordinate with affected areas. • Disposition of 19-7 account balances other than Reserves that do not lapse, is based on each Vice President’s direction for their areas. (New eff. FY12)

  4. Designated Funds - Exceptions to Lapse Guidelines (19 – Accounts) The following Designated 19-Accounts are not subject to lapse (carry forward 100%): • Most 19-accounts sourced from fees - other than 19-7 • Facilities & Administration (F & A) 19-8 accounts - • F&A balances under $100 will be swept to next highest level, e.g. Department, College, etc. in accordance with the F&A MOU.

  5. Overview of Lapse Policy Changes by Area Applies only to those budget groups that in prior year’s would have been subject to lapse in fund 14 and 19-7 accounts: • Academic Affairs –please see Academic Affairs Lapse Policy-FY12 • Business Affairs, Community Services, President’s Office, Research, Student Affairs and University Advancement – all funds lapse to Reserves.

  6. Lapse Guidelines – Service Centers (18- Accounts) • Not subject to lapse (carry forward 100%) • Any surplus/deficit exceeding 10% requires special exception and approval of AVP-Financial Affairs or Asst. VP Financial Affairs/University Controller. • Subject to Service Center Policy for compliance with OMB Circular A-21. Contact Carol Hollingsworth at x4229 with questions

  7. Lapse Guidelines – Other Fund Groups Year-end balances in the following funds are not subject to lapse (carry forward 100%) • Grant and Contracts (26 Accounts) • Auxiliary Enterprise (29 Accounts) • Gift/Restricted Funds (30 Accounts) • Plant Funds (36 Accounts)

  8. For additional information, refer to the FMOG - Financial Management Operating Guideline: http://utsa.edu/financialaffairs/opguidelines/0112.html

More Related