1. University of Toronto Scarborough Carry-forward/Reserves Process Changes

2. Operating Fund Reserves – Definition April 30, 2012 Financial Statements Operating Fund Reserves Divisions are permitted to carry forward unspent funds at the end of each year. These amounts include reserves for operating contingencies, reserves for future commitments and other employee future costs and unfilled purchase orders that have been committed for goods or services to be received in the following year.

3. UTSC Operating Reserves 2009 to 2013

4. Operating Fund Reserves The Chief Administrative Officer would like to track the Operating Reserves at UTSC during the current fiscal year In order to accomplish this we need to post budget transfers, invoices, purchase orders and manual reserves to the carryforward commitment items in FIS Business officers need recognize any spending against their carryforward plans and code items appropriately

5. Examples Transfers from the Dean’s OTO funds are always part of the carryforward therefore any budget transfers from this account will be transferred to departments in their carryforward sections

6. Carryforward Line Before Budget Transfer

7. Budget Transfer Example UNIVERSITY OF TORONTOBUDGET REVISION FORMFS2013-001 SUPPLEMENT RETURN X TRANSFER Helen MorissettePat Mckenna Those fields in ITALIC type are not mandatory; all others must be completed to ensure proper processing. FM AREA (IF OTHER THAN UOFT)VERSIONFISCAL YEARSENDER FUNDFUND NAME RECEIVER FUND FU ND NA MEDATE 2014 June 18, 2013 SENDERRECEIVER CF CENTRECF CENTRE NAME COMMITMENT CF CENTRECF CENTRE NAME COMMITMENT AMOUNT FIS DOCUMENT # 103080Dean's OTO CARRY FWD 102xxxDepartment X CARRYF WD 5,000 TOTAL $ 5,000 FS2013-001 To provide funding for Compensation - casual budget REQUESTED BY:TELEPHONE # Financial Services AUTHORIZED BY: DATE AUTHORIZED: Tracy Curran 416-208-5109 Helen Morissette, Director Date:18-Jun-2013 Signature DAYMONTHYEAR Name & Title Signature DAYMONTHYEAR Name & Title Signature DAYMONTHYEAR

8. Carryforward Line After Budget Transfer

9. Department x Before Transfer

10. Department X After Transfer

11. Department X At month end Payroll Distribution reports need to be printed and in this example, casual staff paid from the $5,000 budget that was transferred to this department needs to be transferred to the Carryforward commitment item so that the actuals match the budget provided For example, $350 was expensed in the month; therefore this amount needs to be transferred by journal entry to the carryforward line from the compensation GL

12. Payroll Distribution Report

13. Journal Entry

14. Table of Journal Entry (FIS) G/Ls matched to HRIS G/Ls ExpenditureDescriptionHRISUse in FIS Faculty SalariesComp:Acad:General801010800100 Administrative StipendsComp:Acad:Admin Stipend 801015800106 Teaching Assistants/ Research Awards Comp:AC:UnionTA’s801270800114 Teaching Overload Stipends Course:StipendGeneral801165,801160800119 Administrative SalariesComp:AdminGeneral801040800422 Personal Stipends Casual SalariesComp:Union:General801140/801150800621 Librarian SalariesComp:Ac:Librarians801020800320 Union Wages & BenefitsComp:UnionGeneral801050800621 GenericPayroll ReallocationGeneric800990 Benefit pieceHRIS-Ben Reallocation801920/801910800999

15. Carryforward Line After Salary & Benefit Journal Entry

16. Department X After Journal Entry

17. Paying an Invoice from Carryforward Budget Line

18. Your Monthly Reconcilion Print the Statement of Accounts Match each actual on the details pages with a copy of the document posted Note posting errors & items that should have been posted to the Carryforward commitment item i.e. Items listed on your Carryforward plan for this current year Prepare correcting journal entries as necessary

19. Your Monthly Reconcilion (p.2) Print your Cost Centre Funding Report for the same period/month as the Statement of Accounts Compare each General Ledger total on the Cost Centre Funding Report to that on the Statement of Accounts. Note any misspostings or missmatches. Prepare journal entry correcting coding/posting errors

20. Your Monthly Reconcilion (p.3) Print your Payroll Distribution Report Compare each payroll entry to previous month(s) entries for the same person Note any pay that should be applied against the Carryforward commitment item (part of your Carryforward plan) Prepare journal entry transferring the pay to the Carryforward commitment line.