1 / 21

Budget Revision Training

Budget Revision Training Oracle Public Sector Budgeting (PSB) Outline Background Information Fund Groups Accounting Key Flexfield Object Codes for Budgeting Funds Checking GL Funds Inquiry Fiscal vs. Rollover Accounts When is a Revision Needed? Restrictions Budget Revision Process

Télécharger la présentation

Budget Revision Training

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.


Presentation Transcript

  1. Budget Revision Training Oracle Public Sector Budgeting (PSB)

  2. Outline Background Information • Fund Groups • Accounting Key Flexfield • Object Codes for Budgeting • Funds Checking • GL Funds Inquiry • Fiscal vs. Rollover Accounts • When is a Revision Needed? • Restrictions • Budget Revision Process • Select Budget Group • Enter Revision • Funds Check • Attachments • Submit • Workflow Status • Vacation Rules • Error Messages

  3. Fund Groups • Educational and General • Designated • Auxiliary Enterprises • Restricted • Loan Funds • Endowment & Similar Funds • Plant Funds • Agency Funds

  4. Accounting Key Flexfield What were two fields in Legacy… 111017-3000(Budget Office operating expense) became six fields in Oracle: 10.G0000.30200.100BUDG00.53001.000060

  5. GL Accounting String Major Fund 10.G0000.30200.100BUDG00.53001.000060 10 – E&G 20 – Designated 30 – Auxiliary 40 – Restricted 50 – Loans 60 – Endowment 70 – Plant 80 – Agency

  6. GL Accounting String Fund Source 10.G0000.30200.100BUDG00.53001.000060 Examples: G0000 – E&G Unspecified (G1xxx is “Fund 1”; G2xxx is “Fund 2”) D1000 – Designated D2000 – Service Departments D4000 – Indirect Cost Recovery A1000 – AES Student Services R1000 – Federal Grant R5000 – Private Grant Z2000 – Agency Scholarship

  7. GL Accounting String Organization 10.G0000.30200.100BUDG00.53001.000060 Ranges: 1xxxx – President 2xxxx – Academic Affairs/Colleges 3xxxx – Business Affairs 4xxxx – Community Engagement 5xxxx – Enrollment & Student Services 6xxxx – Information Technology 7xxxx – University Advancement

  8. GL Accounting String Project Value 10.G0000.30200.100BUDG00.53001.000060 Prefix indicates type (examples): “1” – E&G (State) accounts ► “21” – Designated accounts “22” – Service Departments “24” – Indirect Cost Recovery “310” – AES Student Services “41” – Federal Grant “45” – Private Grant “82” – Agency Scholarship

  9. GL Accounting String Object 10.G0000.30200.100BUDG00.53001.000060 Examples: 40001 – Revenue Budget 51101 - Wages 53001 – Operating Budget 53005 – Materials and Supplies 53010 – Utilities 53025 – Printing and Reproduction 57001 – Travel 58500 – Capital Asset Purchases

  10. GL Accounting String NACUBO Purpose 10.G0000.30200.100BUDG00.53001.000060 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 Use all zeroes “000000” for revenues and transfers.

  11. Budget and Summary Object Codes

  12. Funds Checking • Oracle performs absolute funds checking at the non-labor expense summary (“60000” object). • For non-sponsored activities, budget changes between non-labor expense pools belonging to the same project are not required. • Must exercise care that overall account balance (“99999” summary) does not go negative due to revenue or labor expense deficits.

  13. GL FundsInquiry Budget – Encumbrance – Actual = Funds Available • Account balance = funds available in “99999” summary line. • A negative ( ) in funds available column is always a deficit, even in revenue lines. • To view current account balance: Select “Revised Budget”, “Year to Date Extended” amounts, “All” encumbrances, and latest open period. • Hint: First select “Summary” account level to get overview of account, then drill down into detail accounts, periods, and transactions using the Tools menu.

  14. Fiscal Accounts • E&G (except HEAF) and Auxiliary • Funded by expense budget • Easy to transfer between accounts (just move budget) • Unencumbered balance lapses at fiscal year-end GL Funds Inquiry (Budget – Encumbrance – Actual = Funds Available)

  15. Rollover Accounts • Designated, Restricted Scholarship, Plant, Agency, HEAF • Self-funded by revenues, transfers-in and/or carryover balance • Transfer between accounts by actual funds transfer, not by moving budget • Balance before encumbrances carries forward to next year (non-lapsing)

  16. Rollover Accounts (continued) ◄ $200 revenue shortage $200 ► revenue surplus

  17. Rollover Accounts (continued) Moving funds from one account to another via actual funds transfer: ◄ sending account receiving► account Budget revision must have equal debits and credits within each account.

  18. Rollover Accounts (continued) • Alignment is the process of adjusting an account so that the expenditure budget is aligned with actual or anticipated revenue. • Budget revisions in rollover accounts do not add or remove funds. They are used to “align” the budget pools. • The funds available balance (object 99999) equals the cumulative actual transactions over the life of the project less current encumbrances. [cumulative revenues] – [cumulative expenditures] – [current encumbrances] • The ending balance before encumbrances is carried forward to the next fiscal year in the budget column. Therefore, the budget column total in a designated account will equal the prior year ending balance.

  19. When is a budget revision needed? • To set up a new budget • 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.

  20. Which revisions are not allowed? • Transfer of funds into or out of the following E&G subgroups: • Transfers which cross fund groups (with a few exceptions) Example: • Indirect Cost Recovery funds may not be moved to an E&G account. • Transfers which would violate the purpose of an account. 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.

  21. Contact Information UTPA Budget Office website: www.utpa.edu/budget/ Email: Richard Wilson: wilsonr@utpa.edu Esmeralda Rios: guajardoe@utpa.edu Budgetoffice@utpa.edu

More Related