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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

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Budget Revision Training

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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

  • Select Budget Group

  • Enter Revision

  • Funds Check

  • Attachments

  • Submit

  • Workflow Status

  • Vacation Rules

  • Error Messages


Fund Groups

  • Educational and General

  • Designated

  • Auxiliary Enterprises

  • Restricted

  • Loan Funds

  • Endowment & Similar Funds

  • Plant Funds

  • Agency Funds


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


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


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


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


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


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


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.


Budget and Summary Object Codes


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.


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.


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)


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)


Rollover Accounts (continued)

◄ $200 revenue shortage

$200 ► revenue surplus


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.


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.


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.


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.


Contact Information

UTPA Budget Office website:

www.utpa.edu/budget/

Email:

Richard Wilson: wilsonr@utpa.edu

Esmeralda Rios: guajardoe@utpa.edu

Budgetoffice@utpa.edu


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