Budget Revision Process Instructions

1. Budget Revision ProcessInstructions

2. Budget Revisions • A budget revision is used to either temporarily or permanently revise your budget. • Temporary only involves this fiscal year, permanent will change this fiscal year and all that follow. • They may be completed to transfer funds from one Department ID to another Department ID in the same division with appropriate approval. • They are also used to create a budget entry for deposited/recovered funds.

3. Budget Revision Form • The Budget Revision form can be found on the following website: http://www.jmu.edu/budgetmgmt/budgetrevision.shtml • There are two different forms to choose from: • IBM Compatible • Apple-Mac Version

4. Form Information Continued • Click on the budget revision form that you need. We recommend saving the form to your desktop. • You will need to save the form as the old version of Excel: Microsoft Office Excel 97-2003 Worksheet. This is so the macros in the form will continue to work. • If you are using an older version of Excel, you will need to make sure your macro security settings are set to “medium.” There are instructions for resolving macro issues located on the Budget Revision Process page, under the Budget Revision Instructions heading. Follow the link and click on “Resolve Macro Issues” • http://www.jmu.edu/budgetmgmt/budgetrevision.shtml

5. Form Information Continued • If you are using the newer version of Excel (2007), a Security Warning will show below the main ribbon. It will say “Macros have been disabled.” Click on the “Options…” button, select “Enable this content” and then click the OK button at the bottom. • This process will need to be done each time you open a new budget revision form. • When saving the form in Excel 2007, remember to save it as the older Excel 97-2003 version.

6. Recording Recoveries • Recoveries deposited to a department often require an accompanying budget revision to establish additional spending authority for the department. • For example, one department pays another department for services rendered. The payment will show up in the department’s “bottom line,” but cannot be spent until a budget is created for the amount deposited. • If a budget has already been established for the recovery accounts in question (i.e. 129900, 139900, etc.) only the deposit amount exceeding the established budget should be recorded.

7. Important details of the Budget Revision Process • Every transaction must be shown at the detail and control account levels. The detail account changes will automatically update the appropriate control accounts. They will be calculated at the Department ID unit level by clicking the “update” button on the form. • Funds can only be transferred between like funding sources. For example, a department or a division may transfer funding from on E&G Department ID to another E&G Department ID (1xxxxx to a 1xxxxx) or from one Auxiliary Department ID to another Auxiliary Department ID (3xxxxx to a 3xxxxx).

8. Important details of the Budget Revision Process • Departments cannot move full-time salaries and fringes to NPS or any other areas without the Budget Office permission. • Departments cannot move Federal work study (114600) to any other account codes, but can transfer from one Department ID to another. • In Academic Affairs, the Provost’s Office must review and sign all budget revisions. • Departments must obtain prior approval from the Budget Office to record excess revenue and expenses. • To safeguard personal service funding for part time wages, the Budget Office discourages the transfer of funds between personal services and non-personal services accounts.

9. How to complete the Budget Revision Form • All Budget Revisions are to be recorded in whole dollars; please do not list cents and do not round up. For example, record $45.00, not $45.37 or $45.95. • Credit amounts must equal debit amounts (i.e. Amount column should = $0) on all revision forms except for revenuebudget revisions unless prior approval is received from the Office of Budget Management. - Enter the department name - Enter the name and phone number of person preparing the form - Select appropriate check box for the type of budget revision you wish to submit. Enter a brief one-line description that applies to all transactions listed. Note: only 60 characters of the description are recorded in PeopleSoft. - Enter or select from drop down boxes the Department ID and Account code to which the budget adjustment is being made. - Enter the amount of the change in the “Amount” column. All amounts will be read as positive unless the number is shown in brackets ($$$$) or proceeded by a negative (-) sign. The “inc/dec” column indicates if the transaction will “increase” or “decrease” the account code being adjusted. - If additional rows are needed, click on the “Insert Row” button. - Click the “Update” button to calculate the sum control amounts. These sum control account calculations are required by the budget office for entry into PeopleSoft. Level one approval is needed on all revisions. Level two approval is required when budget adjustments cross Dept ID units within the same college or administrative unit. Level three approval is required for transfers between administrative units within the same division, transfers with other divisions, or requests for new funding.