1. Source (Revenue) Budget and Use (Expenditure) Budget are two separate components for each fund and org combination.

2. Source Budget supports Use Budget.

3. Source Budget MUST BE greater than or equal to Use Budget.

  • FGIBSUM field – Net: Revenue minus (Labor + Expense + Transfer) in the Adjusted Budget column MUST be greater than or equal to zero.

BudGuide2014

 

4.  FGIBSUM should not reflect a negative figure in the Available Balance column in either the Labor or Direct Expenditure Account Type line item.

 

BudGuide2014a

 

5. Changes to either Source or Use Budget will require the submission of a Budget Adjustment Request Form and required supporting documentation. Changes are permitted by either adjustment or transfer.

  • Adjustment – Increase or decrease of existing Source or Use Budgets
  • Transfer – Move an existing Source and/or Use Budget from org to org.

6. Required Reforecasting: Budgets are to be reforecasted if….

    a. Known or anticipated variances of 5% or $100,000 of current Source Budget
    b. Known or anticipated variances of 5% of current Use Budget.

7. The source of funding to support an activity should drive the accounting for the funding.

8. The purpose of an expenditure should drive the accounting for the expenditure.

The above guidelines need to be adhered to and tested prior to submitting changes to Source & Use Budgets.