WorksheetsBudget and Carryover (24)
Total questions: 19
Worksheet time: 10mins
A Banner transaction that adds or subtracts money from the budget amount in a fund.
budget action
budget amount
budget pool
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.
budget action
budget amount
budget pool
non-sufficient funds checking
The sum of all of the budget actions in a fund. As a dollar figure, the budget is an authorization to spend.
budget action
budget amount
budget pool
non-sufficient funds checking
These are the Banner fund(s) used to distribute the budget dollars to colleges and departments.
budget action
budget amount
budget pool
non-sufficient funds checking
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
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.
This checks the balance available to ensure there is money available for expenditures.
What is carryover?
This is the End of Year leftover E&G balance to move over to the new fiscal year.
The sum of the budget available amount in all the Funds in the budget pool (or BAVL pool)
Every dollar that comes into the university must be spent for the purpose for which it was intended. This is referred to as
Fund Accounting
Fund Alignment
Fund Handling
Fund Management
Educational and General (E&G) is money that is intended to support the instructional mission of the university. What is the primary source of this money?
Charitable donations + state allocations + research sponsors
State allocations + tuition and fees + federal allocations in agricultural areas
Research sponsors + charitable donations + tuition and fees
Fees for auxiliary services + tuition and fees + federal allocations in agricultural areas
The E&G budget is allocated from scratch every year on _______ and must be used by _________.
July 1st, June 30th
August 1st, September 30th
January 1st, December 31st
Carryover and Carry Forward mean the same thing. (True/False)
True
False
Departments must request the E&G carryover in the new year by working with the dean’s office.
True
False
Yearend E&G balance can be lowered with labor redistributions to move overhead expenses to E&G
True
False
Overhead is money that has come from research sponsors to support research endeavors. This type of fund is also referred to as _______ or ______.
Auxiliary, Indirect
E&G, Sponsored Project
F&A, Indirect
Sponsored Project, F&A
Departments can request additional overhead fund numbers for purposes like payroll or credit card kick-outs, PI overhead share, startups and other categories they want to monitor separately. (True/False)
True
False
A transfer of E&G or overhead budget dollars between Banner Fund Codes is called a
budget transfer
labor redistribution
journal entry
What is the action that is used to make an after the fact (retroactive) correction to properly align salary funding with effort?
budget transfer
labor redistribution
journal entry
What is the method used to correct posted financial transactions, but can NOT be used for wage, salary, GRA, GTA or fellowship?
budget transfer
labor redistribution
journal entry
In Microstrategy, what feature is used to limit the rows of data that appear in a report?
filter
sort
personal view
saved report
In Microstrategy, what feature is used to saved a customized version of an established Controller's Office financial report to run at a later time?
filter
sort
personal view
saved report
