Budget Revision Training

1. Budget Revision Training Oracle Public Sector Budgeting (PSB)

2. 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

3. Fund Groups • Educational and General • Designated • Auxiliary Enterprises • Restricted • Loan Funds • Endowment & Similar Funds • Plant Funds • Agency Funds

4. 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

5. 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

6. 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

7. 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

8. 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

9. 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

10. 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.

11. Budget and Summary Object Codes

12. 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.

13. 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.

14. 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)

15. 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)

16. Rollover Accounts (continued) ◄ $200 revenue shortage $200 ► revenue surplus

17. 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.

18. 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.

19. 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.

20. 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.

21. Contact Information UTPA Budget Office website: www.utpa.edu/budget/ Email: Richard Wilson: wilsonr@utpa.edu Esmeralda Rios: guajardoe@utpa.edu Budgetoffice@utpa.edu