fund balance new revenue request
Download
Skip this Video
Download Presentation
FUND BALANCE / NEW REVENUE REQUEST

Loading in 2 Seconds...

play fullscreen
1 / 17

FUND BALANCE / NEW REVENUE REQUEST - PowerPoint PPT Presentation


  • 99 Views
  • Uploaded on

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.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' FUND BALANCE / NEW REVENUE REQUEST' - teryl


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
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
slide6
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)
slide7
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
ad