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Budget Pooling

Budget Pooling. Definitions. Budget : A planning Tool . It is not cash or real money. In other words, a budget is an organizational plan stated in monetary terms . Pooling : Refers to the grouping together of resources. . Definitions… Cont’d. Budget Pooling = Budget + Pooling:

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Budget Pooling

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  1. Budget Pooling Budget Pooling

  2. Definitions • Budget: A planning Tool. It is not cash or real money. In other words, a budget is an organizational plan stated in monetary terms. • Pooling: Refers to the grouping together of resources. Budget Pooling

  3. Definitions… Cont’d. • Budget Pooling = Budget + Pooling: Grouping together budget funds (resources) to help with the administrative process in PantherNet. Budget Pooling

  4. Other Definitions • Organizational Unit (Org Unit):is a sixteen digit number designed to make a department/division unique within the college. Example: 11110400-110400-20 (BIOLOGY - A&P) Budget Pooling

  5. Organizational Units Budget Pooling

  6. PantherNet - Organizational Unit Budget Pooling

  7. Other Definitions… Cont’d. • General Ledger Code (GL Code/GLC): is a five digit number that describes an item or service the department or division is purchasing. Example: 65501 - Educational Materials & Supply Budget Pooling

  8. General Ledger Codes Budget Pooling

  9. PantherNet - General Ledger Codes Budget Pooling

  10. What Stays the Same • Capital Outlay GL codes will not be budget pooled. • Capital Outlay GL Codes will still show individual available balances. • Budget Transfers will still be needed to move budget funds from one org unit to another. Budget Pooling

  11. Capital Outlay GL Codes are not pooled Budget Pooling

  12. What is Different • Practically eliminates the need for budget transfers within a specific Org Unit. • Except for capital outlay GL codes, line items will not show an available balance. • The available balance for pooled current expense GL codes will appear in GL code 60000. • The available balance for pooled travel expense GL codes will appear in GL code 60500. Budget Pooling

  13. Sample “Pooled” Org Unit Budget Pooling

  14. Helpful Hints • Never use GL code 60000 or 60500 when entering a transaction. This is strictly for budget pooling ‘display’ purposes. • Only GL codes that have been used are displayed on your PantherNet screen BUT ALL GL codes are available to use. • Finance Tools and Resourcesweb page. Budget Pooling

  15. Contact Us: • Pam Harrison, harrisop@palmbeachstate.edu or 1-3090 • Jane Mills, millsj@palmbeachstate.edu or 1-3096 Questions Budget Pooling

  16. SQL Report We have designed some web-based reports using Microsoft SQL Server (a data management and analysis application) in order to help you access important PantherNet financial information. Most PantherNet Finance users have these reports available for use by going to Campus User Reports. Deans and Provosts will have access to some additional information by going to Monthly Expenditure Reports. Any of these reports can be easily exported to Excel or PDF format. Budget Pooling

  17. Some Campus User Reports: • PantherNet User Profile • PO Encumbrances For: User • Org Unit Income and Expense • Monthly Accumulations For Org Number • Organizational Codes Table • GL Codes Table • Payroll/HR Budget Positions By Org Number Budget Pooling

  18. Thank You Budget Pooling

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