Budget Office 2004 Year End Helps and Reminders

 

To all Controllers:

 

Here are some year end helps and reminders from the Budget Office that we hope you will find useful:

 

New Bob Report

Several of you have been concerned about year end carryover calculations, which speed-types are eligible for 1% carryover, which speed-types carry over 0030 budget to 0035 budget, etc. (For example, some have asked about carry over rules regarding 0030 funds which have been allocated to departmental speed-types. If these funds have not been allocated to specific research speed-types, they will be returned to the Church.).  In order to try to help you to better plan for year-end, we have developed a new Bob report that will calculate all the year end carryovers for the speedtypes you are eligible to see based on your login security.  This report is now complete and ready for your use.  The new report is located at the BOb Reporting web page under the Campus Queries (BUD 2004 Carryover Reports).  An Adobe Acrobat file containing several examples is also available for your review (click here).

 

If you have questions regarding how to use the report or are having problems executing the report, contact Joel Christensen in the Budget Office (x2-3693).

 

1% Carry-over Calculation

Despite that fact that the benefit budget is calculated and posted to match the expenditures each month, the 59xx benefit budget amounts will still be considered part of the overall 1% carry-over calculation.

 

Deadlines and Post-closing Budget Adjustments

Jan 5th at noon is the deadline for budget adjustments.  This deadline means that anything received prior to this time is guaranteed to be included in the Dec 31st printed reports.  However, for those of you who are hoping to take some time off for the holidays, the Budget Office will continue to post budget adjustments as long as the accounting period remains open.  This is typically a day or two after this deadline.  The safest thing is to submit your budget adjustments prior to the deadline, but if you need to do a few after returning in the new year, they will most likely appear on your year end statements.  After the period is closed and your statements have been delivered, if you are surprised by something and wish to make some additional changes to the budget, you may do so using the standard electronic budget adjustment form until January 18th at 5:00 pm.  Be sure to set the year as 2004 and indicate somewhere on the form that it is a “Post-closing Budget Adjustment.”  Please note that the January 18th 5:00 pm post-closing deadline is FIRM.

 

Equipment Carry-over Reminder

Remaining Access Equipment budget (6600) will be carried over dollar for dollar at year end.  The same is true for Software (6000) and Equipment (1625) as long as the balance is original software or equipment budget.  Software and Equipment budget that has been transferred in from another account (0020, 0030, 6100, etc.) will not carry over.  The carry over calculation assumes that the original equipment budget is spent first.

 

Fund 20 and Fund 21 Faculty Accounts

Fund 20 monies will not expire at year end unless there were budget transfers from specific accounts (5600, 6100, etc.)

Fund 21 monies (General Endowment allocations) awarded specifically for mentoring activities will not expire.