Understanding Budget Reports - Financial Services | … Budget Reports. Financial Services. ... It...
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© 2008 California State University, Fullerton
Understanding Budget Reports
Financial Services
Division of Administration & Finance
Sarah Song
Director of Budget Operations
(714)278-2304
Agenda
1. Chart of Accounts & Definitions
2. Fiscal Year Calendar
3. Budget components and processes
4. Distributed Reports
– Budget Balance Available Report
– Other Reports
5. Questions & Answers
Managing Departmental Funds
• What do we mean by an Account or chart fields?
• Which transactions flow into my department?
• How do I monitor and reconcile my financial activities?
• How do I validate and obtain my balances?
Revenues
ReimbursementsExpenditures
Transfers In Transfers Out
Cost Center
Chart of Accounts
Chartfields
– Account (6 characters numeric)
– Fund (5 characters alphanumeric)
– Department ID (5 characters numeric)– Program (4 numeric)
– Class (5 alphanumeric)
– Project (8 numeric)
Chartfield String
Chartfield String = Account + Fund + Department + Program + Class + Project
Chartfield Definitions– Account
• Captures the nature of financial transactions. It provides detail breakdown of Revenues and Expenditures.
– Fund• Represents the source of money related to financial transactions.
– Department ID• Identifies the organizational structure identified by campus.
– Program • A set of ongoing general activities that need to be tracked. Values are assigned by the
campus.
– Class• Provides for any special cost reporting needs a division, department or other
organizational unit may have that are not met by the campus‐wide reporting values in other chartfields.
– Project• Identifies a discrete set of activities. Further breakdown of Class or Account. Values are
defined by division, department or other organizational units.
https://mycsuf.fullerton.edu/psp/pfulprd/EMPLOYEE/EMPL/h/?tab=FUL_MY_INFORMATION_TAB
Differences Between Various Chart Fields
• Mandatory chartfields
– Account (6 characters numeric)
– Fund (5 characters alphanumeric)
– Department ID (5 characters numeric)
• Optional chartfields
– Program (4 numeric) – Leave Blank
– Class (5 alphanumeric) – Extension of Dept
– Project (8 numeric)
Departmental Financial Management Responsibility:
Balancing at Department + Fund level
Fiscal Calendar
It is important to become familiar with the fiscal year and accounting periods for each month
July 1
August 2
September 3
October 4
November 5
December 6
January 7
February 8
March 9
April 10
May 11
June 12
Different than calendar yearReflects Fiscal Year
Budget Components
– Prior Year Carry‐Forward Budget
– Prior Year Encumbrance Budget
– Initial Baseline Budget
– New Fiscal Year Budget (Baseline & One‐Time)
– Budget Reductions
– Budget Transfers
– Other Budget Entries (ie. Allocation Order, SWAT Notice, Revenue Budgets, Capital Budgets, Compensation Increase, and etc)
Credit Chart‐field Debit Chart‐field
Dept Account ACCT DESCR Program Class Project INTL_BASEREVISED BUDGET ACTUALS BBA DEPT ACCOUNT PROGRAM CLASS PROJECT AMOUNT DEPT ACCOUNT PROGRAM CLASS PROJECT AMOUNT
10004 580090 RevOther 20040 -1,200.00 -1,200.00 0.00
10012 501818 OptUsrFee -50,000.00 -50,000.00 -17,010.00 -32,990.00
10012 501825 DiplomaFee -108,000.00 -108,000.00 -61,255.00 -46,745.00
10018 501822 MiscCourse -4,620.00 -4,620.00 0.00
10027 501110 Misc. Fees -99,317.00 -99,317.00 0.00
10027 501110 Misc. Fees 20325 -89,826.00 -124,356.71 34,530.71 10027 501110 20325 -34,530.7110027 660003 20325 34,530.71
10027 501110 Misc. Fees 20327 -21,363.54 -38,835.20 17,471.66 10027 501110 20327 -17,471.6610027 660003 20327 17,471.66
10027 501110 Misc. Fees 20328 -3,400.00 -10,140.00 6,740.00 10027 501110 20328 -6,740.0010027 660003 20328 6,740.00
10027 501110 Misc. Fees 20329 -9,487.88 -20,235.54 10,747.66 10027 501110 20329 -10,747.6610027 660003 20329 10,747.66
10027 501110 Misc. Fees 20330 -237,839.69 -237,839.69 0.00
Revenue Budget Entry
Monthly Standard Reports
CMS Training Documentation and Tutorials
http://www.fullerton.edu/cms/Training/docs/finance.html
Distributed Report Matrix and the Samples
http://www.fullerton.edu/cms/Finance/docs/Sample_FIS_Reports_Matrix.pdf
List of Distributed Reports– Requisitions/P.O. Report
– Expenditure Summary & Detail
– Budget Allocation/Transfer
– Budget Balance Available Report
– Open Commitments
– Security by Employee
– Security by Department
Encumbrance/Expenditure Reports
Requisition/P.O. Detail Report and Requisition/P.O. Summary Report: Allows the department to view detailed or summarized information about Purchase Requisitions and Purchase Orders as of the reporting date.
Expenditure Detail Report and Expenditure Summary Report: Allows the department to view detailed or summarized financial transactions by account code, fund code, program, class or project as of the reporting date.