Source (Revenue) & Use (Expenditure) Budgets are separate components and changes to each are independent transactions as well. An increase in a Source Budget does not automatically increase a Use Budget. An adjustment to the Use Budget will be necessary.
In order to provide good fiscal data, it is critical that transactions are recorded in the appropriate account code. Account codes have been changed significantly and will incur additional changes with the new state ERP implementation so please refer to Accounting Office web site for the latest list of account codes at http://www.marshall.edu/finance/account-codes/ to identify the correct account code.
Adjustment to Source Budget: (Account codes 5XXXXX)
- Submit Budget Adjustment Request Form with supporting documentation.
- If a reduction of the Source Budget results in the FGIBSUM field Net: Revenue minus (Labor + Expense + Transfer) in the Adjusted Budget column to be less than zero, then an adjustment to the Use Budget will be required to bring this field’s value to zero.
- Increases to a Source Budget does not automatically increase a Use Budgets. Any required increase to Use Budgets will require an adjustment as outlined below.
Adjustment to Use Budget: (Account codes greater than 60000)
Increase Use Budget:
Is the current Source Budget adequate to support the requested increase? Refer to FGIBSUM. Is the amount in FGIBSUM field “Net: Revenue minus (Labor + Expense + Transfer)” in the Adjusted Budget column greater than or equal to the proposed Use Budget Increase?
- Yes – Submit Use Budget Adjustment Request Form with supporting documentation.
- No – Budget Adjustment Request Form will be required to increase the Source Budget to a level that will satisfy Budget Guideline #3.
Decrease Use Budget:
Submit Budget Adjustment Request with supporting documentation.
Please submit budget change requests through your existing approval channels. The Budget Adjustment Request Form should be e-mailed through that channel as an attachment. For approval purposes, the email must include the names listed on the Budget Adjustment Request Form in fields “Submitted by” AND “Approved by” in either the “From” or “CC” fields of the email message. Ultimately ALL adjustment requests must be submitted to BudgetOffice@marshall.edu for consideration.
You can download the Budget Adjustment Request Form on the Finance “Forms” page.