Budgeting 101B: OLTF s

Transcription

1 Budgeting 101B: OLTF s Permanent Budget PPS Campus Budget Office Hugo Rios Budget Analyst X46191 hrios@ucsd.edu Mercedes Munoz Principal Budget Analyst X46518 mmunoz@ucsd.edu Provisions Benefits

2 101B: Online Transfer of Funds Introductions Name 101A Best Fiscal Practices Department Types of Funds Managed (State Funds, Indirect Cost Recovery, Private, etc.)

3 Budget Hierarchy Systemwide Administrative Unit (SAU) The University is responsible for budgeting and accounting for both UCSD funds and UC Systemwide funds identified for Multi-campus Research Units (MRU). Fund Source SAU Fund Type UCSD 0 Local Programs UC Systemwide 5 Systemwide Programs Sub Campus The University is divided into three sub campuses. Sub Campus Code Sub Campus 1 General Campus 2 Health Sciences 3 Marine Sciences

4 Index Types Accounting Index Used to record current year transactions on the operating ledger. These numbers are established by the departments through the General Accounting Office website. You may have multiple Index numbers representing the same Fund Org Program combination. Index Type Example Fund Org Program Combination Accounting DEPXXXX XXXXXX XXXXXX - XXXXXX

5 Index Types Budgeted BD Index Used to record permanent budgets The 4 th and 5 th character are always BD There is ONLY ONE BD index for each unique Fund Org Program combination. BD Indexes can be used as Accounting Indexes but Accounting Indexes cannot be used as Budgeted Indexes. Index Type Example Fund Org Program Combination Accounting DEPXXXX XXXXXX XXXXXX - XXXXXX Budgeted DEPBDXX XXXXXX XXXXXX - XXXXXX

6 Index Types Budgeted BD Index Go to CBO Website www-cbo.ucsd.edu Select Index Request from Tools menu. Accounting Index Go to Blink Search Index Overview

7 Account and Sub Account Codes Account Type Sub Account Object Code Account Category 5 x xxxx 5xxxxx = Revenue Accounts 6 x xxxx 6xxxxx = Expenditure Accounts 6 0 xxxx = Academic Salaries 6 1 xxxx = Staff Salaries 6 2 xxxx = General Assistance 6 3 xxxx = Supplies and Expense 6 4 xxxx = Equipment 6 5 xxxx = Travel 6 6 xxxx = Employee Benefits 6 8 xxxx = Unallocated 6 9 xxxx = Recharge 7 x xxxx 7xxxxx = Transfer Accounts

8 Funds and Programs Funds Must Retain Their Color Red = 19900A = General Funds Blue = 07427A = Opportunity Green = 05397A = Educational Do Not Mix Cans of Paint No Cross Programming

9 Program Types Program Range Program Category 40xxxx Instruction & Departmental Research 42xxxx Teaching Hospitals 43xxxx Academic Support 44 59xxxx Organized Research 60xxxx Libraries 61xxxx University Extension 62xxxx Campus Public Services 64xxxx Operation & Maintenance of Plant 66xxxx General Administration 68xxxx Student Services 72xxxx Institutional Support 76xxxx Auxiliary Enterprises 77 79xxxx Student Aid 80xxxx Budgetary Provisions

10 Cross funding and cross programming transactions can be processed by the Campus Budget Office provided there is extraordinary need, approval from the appropriate officials, and documentation to support such transfers. IFOPAL Rules No Cross Funding Do Not Mix the Colors. No Cross Programming Do Not Mix the Cans. Budgeted ( BD ) Indexes can be used as Accounting Indexes but Accounting Indexes cannot be used as Budgeted Indexes. Both types of Indexes are in the Operating Ledger. Only BD Indexes are in the Permanent Budget.

11 Online Transfer of Funds Initiate Transfer of Funds Go to FinancialLink Click on the Transactions button in the left hand menu bar. Select Initiate Transfer of Funds IFIS Training Make sure the titlebar reads FinancialLink Training. Select Initiate Transfer of Funds

12 OLTF Demonstration The Biology Department is going to fund a new position at the Natural Reserve. The new FTE will earn $35,725 annually and will be hired on October 1st. Line 1: Biology (BIOBD01) transfers out $35, permanently to BIOBD16 and $26, ($35,725.00/12 x 9) in current year dollars to VCR1080. Line 2: VCR1080 transfers in $26, on a current year basis. Line 3: VCRBD12 permanently transfers in $35, and creates 1.00 new FTE.

13 OLTF Demonstration BIOBD01 CY: ($26,793.75) PM: ($35,725.00) VCR1080 CY: $26, Transfer VCRBD12 PM: $35, FTE: 1.00

14 OLTF Demonstration Sequence: 001 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A BIOBD A , CURRENT DESCRIPTION To: Natural Reserve FTE SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR 0 1 A B 35, PERMANENT DESCRIPTION To: Natural Reserve FTE Sequence: 002 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A VCR A , CURRENT DESCRIPTION From: Biology Department SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR PERMANENT DESCRIPTION

15 OLTF Demonstration Sequence: 003 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A VCRBD A CURRENT DESCRIPTION SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR 0 1 A B , PERMANENT DESCRIPTION From: Biology Department

16 OLTF Rules Documents must be in balance (all DR = all CR) Permanent transactions require the use of a BD Index number. Permanent transactions must be entered in WHOLE dollars only (no cents). Permanent FTE transactions MAY be out of balance. These transactions can be and often are one-legged. Final Approved documents can NOT be changed or deleted.

17 OLTF Exercises Complete the exercises provided to you. Solutions are also included. Ask questions!

18 Exercise #1 In preparing for fiscal year closing, you need to balance the sub-accounts in your operating ledger (current year). You have a balance of $2,000 in your unallocated account, index CMP0581 (69750A) which needs to be redistributed to supplies and expense, which has a deficit of ($1,527.30), travel with a deficit of ($354.25), and equipment with a deficit of ($118.45). Please prepare an online transfer of funds (OLTF) in order to balance these sub-accounts to zero.

19 Exercise #1 Solution (sequence 1-2) Sequence: 001 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A CMP A , CURRENT DESCRIPTION To: Sub 3, 4, 5: Realign sub-accounts for FY closing SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR PERMANENT DESCRIPTION Sequence: 002 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A CMP A CURRENT DESCRIPTION From: Sub 8: Realign sub-accounts for FY closing SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR PERMANENT DESCRIPTION

20 Exercise #1 Solution (sequence 3-4) Sequence: 003 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A CMP A CURRENT DESCRIPTION To: Sub 3, 4, 5: Realign sub-accounts for FY closing SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR PERMANENT DESCRIPTION Sequence: 004 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A CMP A CURRENT DESCRIPTION From: Sub 8: Realign sub-accounts for FY closing SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR PERMANENT DESCRIPTION

21 Exercise #2 Your department is hiring a new full-time career employee and your VC Office has agreed to allocate additional funds in order to offset related equipment and travel costs your department expects to incur. In order to purchase computer equipment for your new employee, your VC is allocating $5,000 in one-time funds to your department. Furthermore, you department s travel budget need to be permanently augmented in order to accommodate the new employee s travel needs and, for this purpose, your VC has also agreed to a one-time allocation of $800 and permanent allocation of $2,000. Your VC office has asked you to implement the necessary transfers, instructing you to take both the current year and permanent funds from the VC s unallocated account, index UNRBD13 (19900A). Your department s account information is as follows: current year index UNR2555(19900A) and permanent index UNRBD11(19900A). Please prepare a proper OLTF.

22 Exercise #2 Solution (Sequence 1-2) Sequence: 001 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A UNRBD A , CURRENT DESCRIPTION To: UNREDIT for Computing Equipment SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR PERMANENT DESCRIPTION Sequence: 002 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A UNR A , CURRENT DESCRIPTION From: UNRBD13 for Computing Equipment SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR PERMANENT DESCRIPTION

23 Exercise #2 Solution (Sequence 3-4) Sequence: 003 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A UNRBD A CURRENT DESCRIPTION To: UNREDIT for Travel budget increase SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR 0 1 A B 2, PERMANENT DESCRIPTION To: UNRBD19 for Travel budget increase Sequence: 004 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A UNR A CURRENT DESCRIPTION From: UNRBD13 for Travel budget increase SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR PERMANENT DESCRIPTION

24 Exercise #2 Solution (Sequence 5) Sequence: 005 COA INDEX FUND ORGN ACCT PROG CURRENT AMOUNT DR/CR A UNRBD A CURRENT DESCRIPTION SAU SC CL TYPE FTE DR/CR PERMANENT AMOUNT DR/CR 0 1 A B PERMANENT DESCRIPTION From: UNRBD13 for Travel budget increase

25 Don t Turn Off Your Computers Yet! Go to Enrollment Central Click on Browse Course Catalog. Click on Alphabetical Course Listings. Click on Budgeting 101B. Scroll down to today s class. Click on the Evaluations link. Submit Evaluation. Please Turn Off Your Computer When You Leave.

26 Thank You For Attending Budgeting 101B PPS Campus Budget Office Hugo Rios Budget Analyst X46191 Mercedes Munoz Principal Budget Analyst Campus Budget Office X46518 Permanent Budget Provisions Benefits