Who Does What? CAHNRS Fiscal Responsibility and Budget Reconciliation Overview

CAHNRS Fiscal Responsibility

Business center fiscal responsibility:

1) Create Shadow Accounts to Forecast, reconcile and monitor commitments on grant funds (programs 11-14). Shadow account example: Salary/wages/benefits, Travel, Equipment, Personal Service Contracts, F&A rates

2) Review, process, and/or authorize all expenditure and revenue transactions and complete reconciliation (programs 01-17) with the exception of Object/Types filter for 03, 08, 18, 19 BUD, Initial position and operations allocations, accruals and other PBL-Department responsibility. (See Business Center Reconciling in the Finance Module of CBS below.)

3) Reconciliation-Filter transactions for either en masse or budget-project reconciliation for electronic or paper documentation weekly. Transactions requiring paper verification are reconciled in CBS when documentation is verified. (See Verified Transactions Chart)

4) Maintain the permanent expenditure and revenue paper files (not including gift/donation documentation), (programs 01-17) with the exception of department commitment and gift documentation documents.

Department fiscal responsibility:

1) Create Shadow Accounts to Forecast, reconcile and monitor commitments; Shadow account examples: Allocations for permanent and temporary positions and accruals, commitments to track department spending for special projects or categories, commitments, faculty start up, search and relocation, faculty accruals and JVs.

2) Assign Business Center reconciled activity to Shadow Accounts in the Account Postings screen as appropriate, (programs 1-10, 15-17).

3) Annual and biennial budget planning, implementation and review

  • Forecast and track Temporary Budget Allocations 4) Prepare service center and workshop applications and renewals
  • Track revenue, expenditures and balances 5) Track Development and Scholarship funds
  • Process donations
  • Process Scholarships 6) Track F&A returns and process transfers to faculty F&A accounts

7) Maintain the permanent commitment and gift/donation paper files, (programs 01-10, 15-17)

Budget Reconciliation Process

Reconciliation is important for the consistent validation of data, follow-up for timely receipt and payment of transactions, track finances to ensure unit performance and goals are met, and to prevent loss (BPPM 30.06 – each department expenditure is properly authorized, accounted for, and recorded).

With the implementation of the CBS system, budget reconciliation has become a more efficient and timely process. Transactions can be filtered and reconciled across accounts eliminating the need to split budget reconciliation of accounts between business centers and departments (i.e. duplication of effort).

Business Center Reconciling in the Finance Module of CBS

Account Postings screen Filter on:
  • Object 00, 01 ALL-ENC, EXP-Payroll/PEARS Certified (Bi-monthly)
  • Object 02 ALL (weekly)
  • Object 03 ALL Purchase Methods and Receipts Allocated (weekly), (Object 08 below)
  • Object 04 ALL Includes CTA Reconciliation
  • Object 05 ALL (weekly)
  • Object 06 ALL (weekly)
  • Object 07 ALL-BUD, ENC, EXP-Payroll/PEARS Certified (Bi-monthly)
  • Object 11 ALL/Dept verifies online reporting of IT downloads
  • Object 16 ALL
  • Business Center reconciles to CBS Purchase Module “automatic encumbrances/forecasts” during the reconciliation process.

Administrative Reconciling in the Finance Module of CBS

Account Postings screen Filter on:
  • Object 00-BUD for Initial Allocations FY Start for Position reconciliation and verification of all PBL
  • Object 00-BUD for FY End for Fiscal Year to Close
  • Object 00-BUD during the FY (weekly) to reconcile position allocation changes not related to Payroll activity
  • Object 03-BUD for Initial Allocations FY Start for Operations allocation and verification of all PBL
  • Object 03-BUD during the FY (weekly) to reconcile Position activity not related to payroll and reconciliation of postings of debit or credit commitments; example accruals returned by the college or temporary funds returned to the college for temporary position activity
  • Object 08 BUD Receipts Allocated, EXP (weekly) (Object 03 above)
  • Object 18 BUD Initial FY Carry Forward offset if any adjustments
  • Object 19 BUD Initial FY Carry Forward
  • Department assigns the appropriate shadow account to Business Center reconciled activity via the Account Activity screen.

Sample information for Administrative Reconciling below:

SAMPLEadminrecon

Use the Account Postings screen, Filter on Type BUD and Object 03 for Operations Allocation reconciliation

SAMPLEaisbalances

Object 00-BUD during the FY (weekly) to reconcile position allocation changes not related to Payroll activity- Review data in the Account Postings (to reconcile) and Account Activity (to assign shadow accounts as appropriate) for ASSG ADD/CHANGE, ABOLISH POSN, NO ALLOC (TEMP POSN), EXP >ALLOC, FAC/EX SALARY INCR, BASIS SERVICE CHG, NO EXPENSE, ACCRUAL XFER, RETRO ACCOC ADJ, RETROACTIVE EXP (-), Fiscal Year to close. 4/30/

SAMPLEaisbalances2

SAMPLE: Account Postings screen, Filter on Type BUD and Object 00 SALARIES

SAMPLEaccountpostcbs

SAMPLEaisbalances3

SAMPLE: Account Postings screen, Assign Shadow Account to reconciled records as appropriate 4/30/

SAMPLEacctactivitycbs