FUND BALANCE / NEW REVENUE REQUEST

1. FUND BALANCE / NEW REVENUE REQUEST PROCEDURES

2. 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.

3. 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

4. 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

5. 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

6. 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)

7. 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.

8. APPROVAL HISTORY • Verify for Certified Signature and proper path

9. 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

10. 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

11. 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 =========

12. APPROVAL HISTORY • Verify for Certified Signature and proper path

13. 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

14. 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

15. 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

16. 1074 REPORT – FUND BALANCE REQUEST (continue)To Budget Current Year Equity Transfer • Run report to determine cost center from which equity was transferred

17. 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