Fund balance new revenue request
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FUND BALANCE / NEW REVENUE REQUEST. PROCEDURES. PURPOSE. FUND BALANCE: 1)To budget prior year unbudgeted fund equity. 2)To budget current year equity transfer. NEW REVENUE: To budget current year additional or new revenue received which has anticipated expenditures in current year.

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FUND BALANCE / NEW REVENUE REQUEST

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Fund balance new revenue request

FUND BALANCE / NEW REVENUE REQUEST

PROCEDURES


Purpose

PURPOSE

  • FUND BALANCE:

    1)To budget prior year unbudgeted fund equity.

    2)To budget current year equity transfer.

  • NEW REVENUE: To budget current year additional or new revenue received which has anticipated expenditures in current year.


Procedures

PROCEDURES

  • PRIOR YEAR FUND BALANCE – Pages 4 to 8

  • NEW REVENUE – Pages 9 to 12

  • CURRENT YEAR EQUITY – Pages 13 to 17

    REQUIRED REPORTS

    1074 Reports current date:

  • Balance Sheet

  • Budget Node Summary


Fund balance request budget journal revest to budget prior year unbudgeted fund equity

FUND BALANCE REQUEST - BUDGET JOURNAL (REVEST)To Budget Prior Year Unbudgeted Fund Equity

  • Received from Colleges / Divisions 2 forms of Journal: Revest and Org

  • Revest budget node B4035 for budgeted fund balance

  • Verify Budget Entry: “Adjustment”

  • Verify amount Debit = Credit

  • Verify Chartfiled Combo


Budget journal org to budget prior year unbudgeted fund equity

BUDGET JOURNAL (ORG)To Budget Prior Year Unbudgeted Fund Equity

  • Received from Colleges / Divisions 2 forms of Journal: Revest and Org

  • Org budget node must be B5XXX

  • Verify Budget Entry: “Adjustment”

  • Verify amount Debit = Credit

  • Verify Chartfiled Combo


Fund balance new revenue request

1074 REPORT – PRIOR YEAR FUND BALANCE REQUESTTo Budget Prior Year Unbudgeted Fund Equity (example Equity > B4035)

  • To verify the available amount to budget “Available Fund Equity” (Beginning Year Balance column) less Budgeted “Fund Balance / B4035” (Current Orig + Adj column)


Fund balance new revenue request

1074 REPORT – PRIOR YEAR FUND BALANCE REQUESTTo Budget Prior Year Unbudgeted Fund Equity (example Equity < B4035)

  • Equity is not available to budget in this example due to the fact that budgeted fund balance B4035 is greater than beginning year available fund equity.


Approval history

APPROVAL HISTORY

  • Verify for Certified Signature and proper path


New revenue request budget journal revest

NEW REVENUE REQUEST - BUDGET JOURNAL (REVEST)

  • Received from Colleges /Divisions 2 forms of Journal: Revest and Org

  • Verify Budget Entry: “Adjustment”

  • Verify amount Debit = Credit

  • Verify Chartfiled Combo


New revenue request budget journal org

NEW REVENUE REQUEST - BUDGET JOURNAL (ORG)

  • Received from Colleges / Divisions 2 forms of Journal: Revest and Org

  • Verify Budget Entry: “Adjustment”

  • Verify amount Debit = Credit

  • Verify Chartfiled Combo


1074 report new revenue request

1074 REPORT – NEW REVENUE REQUEST

  • To request New Revenue, verify “Budget Available” less “Soft Commitment” on 1074 report.

  • Verify the “Available Fund Equity” to see if it supports the available budget

    $ 25,331.00

    $ 14,938.00 –

    $ 10.393.00

    =========


Approval history1

APPROVAL HISTORY

  • Verify for Certified Signature and proper path


Fund balance request budget journal revest to budget current year equity transfer

FUND BALANCE REQUEST - BUDGET JOURNAL (REVEST)To Budget Current Year Equity Transfer

  • Received from Colleges / Divisions 2 forms of Journal: Revest and Org

  • Verify Budget Entry: “Adjustment”

  • Verify amount Debit = Credit

  • Verify Chartfiled Combo


Fund balance request budget journal org to budget current year equity transfer

FUND BALANCE REQUEST - BUDGET JOURNAL (ORG)To Budget Current Year Equity Transfer

  • Received from Colleges / Divisions 2 forms of Journal: Revest and Org

  • Verify Budget Entry: “Adjustment”

  • Verify amount Debit = Credit

  • Verify Chartfiled Combo


1074 report fund balance request to budget current year equity transfer

1074 REPORT – FUND BALANCE REQUESTTo Budget Current Year Equity Transfer

  • At the beginning of the year, Fund Balance was not budgeted. There was a transfer from another cost center to budget the Fund Balance in the amount of $ 10,000.00

  • $ 10,000.00 was budgeted during the budget cycle


1074 report fund balance request continue to budget current year equity transfer

1074 REPORT – FUND BALANCE REQUEST (continue)To Budget Current Year Equity Transfer

  • Run report to determine cost center from which equity was transferred


1074 report fund balance request continue to budget current year equity transfer1

1074 REPORT – FUND BALANCE REQUEST (continue) To Budget Current Year Equity Transfer

  • Cost center where $ 10,000.00 equity was transferred, supports the available budget


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