Budget Revision Training

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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

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Fund Groups

• Educational and General
• Designated
• Auxiliary Enterprises
• Restricted
• Loan Funds
• Endowment Similar Funds
• Plant Funds
• Agency Funds

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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

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GL Accounting String

• Major Fund
• 10.G0000.30200.100BUDG00.53001.000060
• 10 EG
• 20 Designated
• 30 Auxiliary
• 40 Restricted
• 50 Loans
• 60 Endowment
• 70 Plant
• 80 Agency

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GL Accounting String

• Fund Source
• 10.G0000.30200.100BUDG00.53001.000060
• Examples
• G0000 EG 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

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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

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GL Accounting String

• Project Value
• 10.G0000.30200.100BUDG00.53001.000060
• Prefix indicates type (examples)
• 1 EG (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

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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

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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.
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Budget and Summary Object Codes
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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.

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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.

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Fiscal Accounts

• EG (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)

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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)

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Rollover Accounts (continued)
? 200 revenue shortage
200 ? revenue surplus
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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.
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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.

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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-EG accounts)
• To address or avoid funds checking failures in
  non-labor expenses.
• To transfer funds between two or more accounts.

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Which revisions are not allowed?

• Transfer of funds into or out of the following
  EG subgroups
• Transfers which cross fund groups (with a few
  exceptions)
• Example
• Indirect Cost Recovery funds may not be moved to
  an EG 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.

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Contact Information

• UTPA Budget Office website
• www.utpa.edu/budget/
• Email
• Richard Wilson wilsonr_at_utpa.edu
• Esmeralda Rios guajardoe_at_utpa.edu
• Budgetoffice_at_utpa.edu