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Frequently Asked Budget & Reporting Questions

If you do not see your question answered below, please contact using the budget feedback page.

FAQ's

    

How can I get a quick budget balance?

In Peoplesoft Finance Reporting, go to Commitment Control then either to Budget Detail or Budget Overview.  Fill in the ledger group, department, fund and fiscal year. This is will show you your current budget, total expenses to date, encumbrances, pre-encumbrances and your budget balance available.

How do I transfer funds from one funding source to another?

To transfer funds between funding sources the funds need to be like funding sources for example: CSF to CSF, Major fees to Major fees, Miscellaneous to Miscellaneous. If the funding sources are the same then you can fill out a Budget Transfer Form and email it to the Budget Office. Budget Transfer Form 

If the funding sources are not like sources: CSF to GPTF, Major Fees to Miscellaneous a transfer cannot be done. However, you can move appropriate expenses from one fund to another.  For example you need to move $1,000 of CSF to your major fee account. You would run a 7062 Detail Transaction Report for your CSF account highlight the appropriate expenses that you need moved to your major fee account and submit it to the Accounting Office

I created a requisition or Purchase Order and I received a budget error when I budget checked it. What do I do?

If the budget error is "No Budget Exists," then you will need to check the chartfield string (department and fund) to make sure they are correct.   If they are the wrong combination then change it to what it should be and rerun budget check. If they are the correct combination you need to contact the Budget Office so they can load a budget.

If the budget error is "Exceeds Budget Tolerance," this means you have overspent your budget. A couple of things can be done: You can change the Charfield information to an account that has the appropriate funds to cover the requisition or purchase order. Or, you can transfer funds from a like funding source to this account. Another option is to look at your encumbrances to see if any can be liquidated to free up funds.

Are all expenses encumbered before they become actual expenses?

Most expenses are encumbered, i.e. requisition, purchase order, payroll and fringe.  There are several expenses that are not encumbered:  Procard, Debt Service, and Chargebacks-Printshop, Postage, Stationary, Telephone, Campus Services, Chartwells.  It is important to remember this because if your account has an available balance of $500.00 and you are going to create a requisition or Purchase Order for this, but one of these non encumbranced expenses hits your account, your requisition or purchase order will not pass budget check.

On my revenue and expense report I noticed an expense called Administrative Overhead what is this expense?

The Trust Fund Administration Charge for the Dartmouth Campus was approved by the UMass Board of Trustees on May 9th, 2000.  Certain Trust funds will be assessed an 8% charge on expenditures.  The rationale for the charge is to ensure that all trust funds are self-supporting and that this includes its allocable share of central services.  This charge is consistent with those charged at the other UMass campuses.  The TFA Charge appears under the PeopleSoft Account Code 797500 (Overhead Assessment) as an expenditure.  This will be done one-time at month end close.

What Funds Does TFA Impact?

The TFA charge will impact all funds with the exception of the following:

Indirect Costs

Other Student Based Fund Raising Accounts

State Appropriations

Student Fees

 

All other funds will be assessed the TFA charge including the following:

Athletics

Campus Center Fee

Campus Store

Conference Center

Curriculum Support Fee (CSF)

Dining

General Purpose Trust Fund (GPTF)

Housing

Major Fees

Miscellaneous Income

Non-Sponsored Projects

Other Student Fees

Professional & Continuing Ed (PCE)  

I want to run a month end report, when is the best time to run this report?

Month end closing takes place on the first Friday after the month ended. This is when TFA allocation will hit your account. Waiting until the Monday after the closing will give you an accurate look of where you stand.

How do I run a PeopleSoft Finance Report

Please contact the Budget Office for one-on-one training or go to the following websites for job-aids and tutorials:

http://www.umassd.edu/peoplesoftfinance/training/

http://www.umassd.edu/peoplesoftfinance/jobaids/

I have run reports on my accounts and I am having trouble understanding them. Who can I contact with questions?

You can contact any of the following people in the Budget Office for help:

Connie Lemieux  x9174

Jillian George      x8165

Mark Carney       x8023

Mark Dias           x8022

How can I get a new department or speedtype created for my area?

Complete the New Department Request  form and return to the Accounting Office. It is important that the form is completely filled out so that access and security can be properly set up.

How do I access SUMMIT

SUMMIT is a new reporting tool which runs outside of PeopleSoft Finance, it is based upon the PeopleSoft Finance 8.9 Reporting Database.  Go to the following website for an online tutorial:

http://www.umassd.edu/peoplesoftfinance/

How to get access to the PeopleSoft Finance System & SUMMIT

Employees can request access to Finance by contacting Suzanne Audet, Controller & Data Custodian, Foster Administration Building. 

How to update Organizational Department (commonly called DEPTID) in PeopleSoft

The accuracy of the organizational structure is essential since it controls access to your financial information including your budget and financial transactions. In addition, this Campus Organizational Structure is used to synchronize with other systems such as those maintained by HR, COIN, Affirmative Action and Space Management.  Please fill out the PS Org Unit Change Form  and return it to the Budget Office.


What is a Base Budget vs Non-Base Budget

A base budget is the budget that has been historically allocated to a department. Base budgets will recur in the budget annually, on a permanent basis. In general when budgets are loaded in the commencement of the new fiscal year, they can be allocated as either original or one-time allocations (non-base budgets). Non-base budgets are one-time allocations which are not included in the succeeding year's budget. Some examples of non-base budgets include: carry forwards, transfers, adjustments, and Gold Book Salary Savings.


How to request a Budget Transfer

To transfer funds between funding sources the funds need to be like funding sources for example: CSF to CSF, Major fees to Major fees, Miscellaneous to Miscellaneous. If the funding sources are the same then you can fill out a Budget Transfer Form and email it to the Budget Office. Budget Transfer Form

How to request an Expense Transfer

If the funding sources are not like sources: CSF to GPTF, Major Fees to Miscellaneous a transfer cannot be done. However, you can move appropriate expenses from one fund to another.  For example you need to move $1,000 of CSF to your major fee account. You would run a 7062 Detail Transaction Report for your CSF account highlighting the appropriate expenses that you need moved to your major fee account and submit it to the Accounting Office.

How to resolve a System Budget Error

If the budget error is "No Budget Exists," then you will need to check the chartfield string (department and fund) to make sure they are correct. If they are the wrong combination then change it to what it should be and rerun budget check. If they are the correct combination you need to contact the Budget Office so they can load a budget.

If the budget error is "Exceeds Budget Tolerance," this means you have overspent your budget. There are three options: You can change the Charfield information to an account that has the appropriate funds to cover the requisition or purchase order. Or, you can transfer funds from a like funding source to this account. Another option is to look at your encumbrances to see if any can be liquidated to free up funds.

Where do I find Active Chart of Accounts (Chartfield Crosswalk)

http://cf.umassadmin.net/finance/crosswalk/ 

What are the Various Campus Funding Sources

The campus receives revenues from two main sources; the Commonwealth of Massachusetts, and from the day-to-day Operations. The State Appropriation is one of the budgetary items included in the annual state budget. Once quantified, the dollars are appropriated to the University of Massachusetts on a system level. The President's Office is responsible for determining the allocations that each campus receives. These dollars are primarily used to fund payroll expenses, as the state will pay all the fringe benefits for any salary that is paid with state appropriated dollars. In essence, this represents approximately 35% in additional funds above what the university is appropriated.

Restricted Revenues.

Restricted revenues are revenues that come with restrictions on how they can be spent. Examples of Restricted Revenues include, donations and endowments, grants, contracts, and special state appropriations.

Unrestricted Revenues:

Unrestricted Revenues are revenues that come with no restrictions on how the money can be spent. Our biggest source of unrestricted revenues comes from the collection of student based fees, namely Curriculum Support fees.

What are the Different Campus Funding Sources?

Within the category of Unrestricted Revenues, there are several funding sources:

  • State Funds - Funds appropriated by the State Legislature           
  • Operating Funds
  • Indirect Costs

The campus also provides services (other than education) that are revenue generators. These activities are fully or partially supported through fees or charges for products and services. Revenue based operations include:

  • Auxiliaries
  • Student Fee - An organization that provides services to students for various educational


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