M24_Budget and Carryover

Budget and Carryover Terms

Let's review some terms related to budget and carryover.

Be ready to test your knowledge as you move through the terms!

WHAT IS A BUDGET ACTION? 

A Banner transaction that adds or subtracts money from the budget amount in a fund. 

WHAT IS THE BUDGET AMOUNT? 

The sum of all of the budget actions in a fund. As a dollar figure, the budget is an authorization to spend.

Multiple Choice

What is a Banner transaction that adds or subtracts money from the budget amount in a fund?

• Budget Action

• Budget Amount

• Budget Pool Fund

WHAT IS NON-SUFFICIENT FUNDS CHECKING? 

This checks the balance available to ensure there is money available for expenditures. This can halt a transaction from occurring in various systems. 

WHAT IS A BUDGET POOL FUND? 

These are the Banner fund(s) used to distribute the budget dollars to colleges and departments. 

WHAT IS A BUDGET TRANSFER?

This is the movement of budget from one fund to another,  and it must follow the rules of road for Fund Accounting. It is a balanced action, one to one or one to many. These are manual actions made in departments for E&G and Overhead money. 

✔️E&G to E&G 

✔️Overhead to Overhead 

❌You can’t move E&G to Overhead. 

Rules of the Road

✔️ You must be authorized in Banner to enter a budget transfer

✔️After entry in FZABDGT, there is no further approval required in Banner

✔️The transfer affects the fund balances immediately 

✔️Budget can be transferred to a fund in another department

WHAT IS A BUDGET POOL?

It is a collection of funds whose individual balances add up to the budget balance available amount. We often refer to this as BAVL. 

Multiple Choice

What are the the Banner fund(s) used to distribute the budget dollars to colleges and departments?

• Overhead Funds

• Budget Pool Funds

• Foundation Funds

WHAT IS THE BUDGET BALANCE AVAILABLE (BAVL)? 

The sum of the budget available amount in all the Funds in the budget pool (or BAVL pool) It is the amount that is checked for non-sufficient funds checking.  Each Fund has a BAVL fund (or budget control fund) that tells what budget pool it belongs to.

For example, most E&G funds have a BAVL fund of 1000. It is possible to isolate funds from the BAVL, but this will be covered later. Form name: FGIBAVL

WHAT IS CARRYOVER? 

This is the End of Year leftover E&G balance to move over to the new fiscal year. This amount will probably be manually transferred (distributed) in the new fiscal year. 

Also known as carryforward. This means the same thing!

Multiple Choice

The End of Year leftover E&G balance to move over to the new fiscal year is called

• carryover

• carryforward

• carryover or carryforward