UW System Administration Budget Basics and

Transcript:UW System Administration Budget Basics and:
UW System Administration Budget Basics and Monitoring 1 Agenda Introductions Aimee Arnold, Director Budget & Planning aarnold@uwsa.edu Carol Edquist, Budget Director Office of Academic & Student Affairs cedquist@uwsa.edu Chrissy Klappa, Budget Planner cklappa@uwsa.edu Gillean Kitchen, Interim Special Assistant to the Vice President gkitchen@uwsa.edu Ginger Hintz, Assistant Vice President & Controller ghintz@uwsa.edu Jessica Laeseke, Senior Budget Accountant jlaeseke@uwsa.edu Finance Functions Budget Overview Questions and Closing 2 Goals Become familiar with: University of Wisconsin accounting terminology The UW’s accounting system Annual budget process and timeline Develop basic knowledge to: Submit budget transfer requests Reconcile departmental budgets on a monthly basis 3 UW System Budget Coding String FY20-106-Y-011000-AAH45XZ-0-MISCEXPNS-$100,000 4 Fiscal Year Department Project Program Code Fund Budget Account Business Unit Fiscal Year Fiscal Year The UW System’s accounting year July 1 to June 30 Written as “FY” with appropriate accounting year indicated (FY20 or FY2019-FY2020 mean the same thing) To determine the fiscal year Use the year in which the current accounting year ends - Fiscal Year 2019-2020 will be ---- FY20 Designate the fiscal year on each transaction Often accounting personnel work with multiple fiscal years Especially important at fiscal year end 5 FY20-301-W-011000-PRJ45XZ-0-MISCEXPNS-$100,000 Fiscal Year/Accounting Period 13 accounting periods in a fiscal year Periods 1-12: July to June Period 13: Typically a two-week period after June 30th where final year end clean up occurs Period 13 transactions dated July 1 in SFS - Period 13 only final year end clean up Accounting periods are closed on a monthly basis (end of the 3rd business day), except for the 13th period. UW Systems Controllers Office will send an email with the date for final fiscal year transactions. 6 Business Unit Indicates campus Two business units: - UW System Administration Accounts ADM or W Used specifically for the operations of System Administration - UW Systemwide Accounts SYS or Y Used for programs operating throughout the System 7 FY20-106-Y-011000-PRJ45XZ-0-MISCEXPNS-$100,000 FY20-301-W-011000-PRJ45XZ-0-MISCEXPNS-$100,000 Fund 8 Fund – Represents an appropriation from the State, Federal Government, gifts, grants, fees or endowments to the UW. - Different funds have different restrictions/guidelines on spending and reporting. FY20-106-Y-011000-AAH45XZ-0-MISCEXPNS-$100,000 Budget Categories GPR - General purpose revenues consisting of general taxes, miscellaneous receipts and revenues collected by state agencies which are deposited into the general fund and are available for appropriation by the legislature. PR – Program revenues which are deposited into the general fund and are credited by law to an appropriation