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Reading Operating Statements - Introduction

This summary provides an introduction to operating statements, highlighting budgeted expenses and actual expenses, reflecting both the fiscal year's income and expenditures. It emphasizes the importance of tracking cash balances at the beginning and end of each month, as well as the classification of transactions based on object codes. The document also discusses the significance of budget reallocations and encumbrances in enhancing financial clarity. Understanding these components is vital for effective fiscal management.

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Reading Operating Statements - Introduction

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  1. Reading Operating Statements - Introduction

  2. Summary Section – RE and DN • Budgeted Expenses – Reflects budget in RE or RC accounts (EXPENSE accounts) • Actual Expenses – Reflects amount expensed during the current fiscal year (Income (DN) or Expense (RE) accounts) • Actual Income – Reflects the amount of income received in the current fiscal year • Cash Begin of September – Fiscal Period 03 reflects the cash balance across multiple fiscal years • September - Fiscal Period 03 – Monthly income minus monthly expenses • Cash Balance As of End September - Fiscal Period 03 – Reflects the total available money in the account at the end of the month 1 2 2 3 4 6 5

  3. Actual Transactions RE or RC Actual Transactions RE or RC 4 • Object Code – Classifies on accounting line as an income, expense, asset, or liability • Doc Type – Identifies type of document, example PCDO = Pcard, DV = Disbursement Voucher (reimb, invpymt) • Trans Post Date – Final approval date • Doc Nbr – Unique identifier of a transaction, used for tracking purposes • Trans Ldgr Entry Description – Description of transaction item • Trans Ldgr Entry Amt – Amount of transaction 1 2 3 5 6

  4. Actual Transactions DN • Basic AcctgCatg – Indicates a transaction as income or expense • Object Code – Classifies on accounting line as an income, expense, asset, or liability • Doc Type – Identifies type of document, for example PCDO = Pcard, DV = TRW, Reimburse, etc. • Trans Post Date – Final approval date • Doc Nbr – Unique identifier of a transaction, used for tracking purposes • Trans Ldgr Entry Description – Description of transaction item • Trans Ldgr Entry Amt– Amount of transaction 5 2 3 6 4 1 7

  5. Budget Transactions • Budget reallocation(s) appear on the operating statements when budgets are moved in or out of an account.

  6. Encumbrances • Salaries or purchase orders - this shows committed funding

  7. Object Code Summary 1 2 3 • Sums up account activity by object code. • Shows the account: • Budget • Actuals for the month • Actuals for the fiscal year to date

  8. Questions

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