Budget

Financial plan of all expenditures and revenues Revenue Sources: State Appropriations Tuition and Fees Local Taxes Carryover Allocations and Other Revenues Expenditures: Salaries and Benefits Operating, Travel and Capital Transfers and Reserves Allows for performance evaluation

Budget Planning – STC’s Annual Budget Compiled annually and plans for a one year period (September 1 – August 31) Lists the expected revenues and expenses for the upcoming fiscal year Must be balanced Utilizes Banner’s Budget Development Application to gather departmental expense budgets

Budget Planning – STC’s Annual Budget Comprehensive report that covers all fund types Approved by the Board of Trustees in August Budget booklet is submitted to Governor’s Office, Texas Legislative Board, THECB, and College staff Regulated by THECB and the Texas State Legislature

Budget Planning Generally, a 10 month process The Budget Development Application is opened for revenue and expense budget entry through Jagnet Revenue projections are based on headcount projections, historical trends, and proposed rate schedules During the process, revenue scenarios, expense comparison reports, and preliminary revenue and expense summaries are prepared The Budget Hearing ad is published in local newspapers Budget booklets are printed for approval by the Board of Trustees After Board of Trustees approval, the Budget is submitted to state agencies New fiscal year budgets are rolled from Budget Development into Banner

Budget Planning- Budget Development Departments must submit their department budget requests for the new fiscal year through the Budget Development Application. Only operating, travel and capital budgets may be updated through the Budget Development Application. Financial Managers should consider the manual budget transfers processed during the previous year when requesting budget amounts for the upcoming fiscal year. Financial managers and authorized staff may update an organization’s proposed budget Organization changes may also be made during this time Create new organizations Inactivate existing organizations that will no longer be used Combine organizations that serve the same purpose

Budget Planning- Budget Development Budget requests must be itemized in the “Notes” section of the Budget Development Application for each expenditure pool (operating, travel and capital) The notes must include the nature of the expense, the estimated total cost, and the applicable IE goal or objective that will be satisfied. Example: Registration Fees: $6,000 (O6) Travel notes must identify the conferences that will be attended, the number of attendees per conference, and the IE goal or objective that will be supported. Travel requests for destinations that are not itemized in the notes section will require justification when the Travel Authorization form is submitted. Example: Conferences: $10,000 (O1, O2) SACS Annual Conference-1 attendee Banner Annual Summit-2 attendees

Budget Planning Proposed budgets are reviewed and may be adjusted by administrators Organization budgets may be used during the active fiscal year (September 1 – August 31)

Budget Maintenance Each department’s expense budget for the fiscal year is recorded in Banner through the department’s assigned FOAP F: Fund-The source of the funds (Unrestricted, Restricted, Auxiliary) O: Organization-The department spending the funds A: Account-The expenses of the department (salaries, operating, travel) P: Program-Classification of the funds according to national regulations

Budget Maintenance Department expenses must be properly categorized and charged to the most appropriate organization The organization charged with the expense should not be determined by funds availability. If the appropriate organization does not have enough funds available for the expense, complete and submit a budget transfer. Expenses must be properly categorized in order to adhere to the functional expense classifications from the Integrated Postsecondary Education Data System (IPEDS) Financial Survey

FGIBDST Displays the Organization Budget Status of all accounts in an organization Click on the Options menu and select Transaction Detail Information (FGITRND) Required Uncheck Defaults in Leave blank to query all accounts OR Enter specific account Leave blank to query all accounts OR Enter specific account type (71, 73, 74)

FGIBDST Able to query in the Account field Adjusted Budget – YTD Activity – Commitments = Available Balance

FGITRND Displays the Detail Transaction Activity for an organization Shows the detail of the amounts on FGIBDST Able to view detail transactions for all accounts in an organization Able to view detail transactions for specific account in an organization Able to query

FGITRND Accessible in 2 ways Through FGIBDST Move cursor to account you want to view Select the Options menu at the top of the screen Select Transaction Detail Information Through the main menu Type in FGIBDST

FGITRND When accessed through FGIBDST Only detail for one account will be displayed When accessed through the main menu Need to enter in the COA, Fiscal Year, and the Organization The Account code is not required, but if left blank Banner will give you detail for all accounts in the organization

Budget Transfers - FGIBDST

FGITRND Transaction Details: Account, Organization, Program, Fund Activity Date-Actual date of transaction Type-Type of transaction (BD01, BD02, HGNL, INEI, JE15, etc.) Document-Document Number assigned to transaction Description-Description of transaction Transaction Date-Effective date of transaction Field-ABD, OBD, YTD, ENC, RSV Amount

FGITRND Transaction Lifecycle: Budget transactions: Original Budgets are posted as OBD and have BD01 as the Type Changes to the original budgets (budget transfers) are posted as ABD and have BD02 as the Type Expense transactions: Begin as a RSV (Reservation) when a requisition is created Becomes an ENC (Encumbrance) when requisition is approved and becomes a P.O. Becomes a YTD (Year to Date) when requisition has been paid Documents beginning with “I” are invoices Documents beginning with “J” are journal entries Documents beginning with “F” are feeds

FGIBAVL Displays the Budget Availability Status of an organization Required information Required Defaults In

FGIBAVL Able to query in Account field Adjusted Budget – YTD Activity – Commitments = Available Balance

FGIBAVL-FGITINP View pending documents accounted for on FGIBAVL

Budget Maintenance – Transfers Transfers increase or decrease the organization’s available budget for operating, travel and capital expense accounts, in order to: Reallocate budget for future purchases Cover negative balances Budget transfers may be processed between different account codes of the same organization, or between different organizations Budget transfers may not occur between different fund codes

Budget Transfers Only typed budget transfer forms will be processed Transfers may be processed using the expenditure pool accounts only Direct Expenditures (Operating) Travel Expenditures Capital Expenditures Construction If the submitted budget transfer form has errors, a new form must be submitted

Preparing Budget Transfers Determine the amount that needs to be transferred (FGIBAVL) Determine the organization and account with sufficient funds available to cover the negative balance (FGIBAVL) Prepare the Budget Transfer form (BO-3500) Submit form for signature approvals Send approved form to Business Office for processing Check the status of the transfer on FGIBDST

FGIBDST vs FGIBAVL FGIBDSTFGIBAVL View Prior Fiscal Years Used by Banner for NSF checking Balance is reduced by: Complete transactions Incomplete transactions Suspended transactions Unapproved transactions Approved transactions Summary by account code Summary by account pool Transaction detail available

Encumbrances All encumbrances should clear when the payment is made View FGIOENC (Organizational Encumbrance List) List of all outstanding commitments in an organization Contact Purchasing to close the encumbrance if it is no longer needed FGIENCD-Detail Encumbrance Activity Detailed list of transactions posted to an encumbrance created by a requisition or purchase order

Document History View FOIDOCH (Document History) Lists all documents associated to a specific document based on the document number Requisition number, P.O. number, Invoice number, Check number Details about each document can be viewed through the Options menu

Extracting Data to Excel Click “OK” Click “Save As” Name file, keep the extension as “csv” Open file in Excel and save in Excel format Delete “csv” file

Banner vs Jagnet Information on FGIBDST, FGIBAVL and FGITRND may be viewed in Jagnet Log in to Jagnet Click on “Employee Tab” Click on “Employee Services” Click on “Finance Tab” Click on “Budget Queries” Select “Budget Status by Account” and click “Create Query”

Banner vs Jagnet Place a check mark in the box next to: Adopted Budget, Budget Adjustment, Adjusted Budget, Fiscal YTD Activity, Encumbrances, Commitments, and Available Balance Click “Continue” Select the Fiscal Year Select the Fiscal Period (period 14 is recommended) Select a Comparison Fiscal Year and Period (if needed)

Banner vs Jagnet Select “All” for the Commitment Type Enter “S” for the COAS Enter the Organization Code Optional: Enter the Account Type (71, 73, 74) Leave all other fields empty Click “Submit Query”

Banner vs Jagnet

Click Download All Ledger Columns Click Save, Click Open Transactions are displayed in an Excel csv file

Elena Jimenez, Accounting Specialist Vacant, Budget Accountant Nicole Perez, Accounting Group Manager

Questions?