Budget

The Budget Journal Reference Manual has been updated. Other information that has been included in the new manual:

• Searching for and Viewing a Budget Journal on the General Ledger
• Journal Inquiries for the Budget_Fin Ledger
• Viewing a Budget Journal in the General Ledger 
• Viewing the Ledger Summary page

Budget Journal Entry Update

Following is an update to the business process for all future budget journal entries into BUDGET_FIN:

All budget journal entries into BUDGET_FIN that have a Project ID should use an analysis type of BD1 instead of GLE. This includes budget reallocations and new entries.

If GLE is used, it will cause the journals to be cost collected in Grants, Projects, and Contracts (GPC) and the transactions will be billed. A new analysis type, BD1, has been created to be used for budget journals instead of GLE because budget transactions should not be billed.

This process is to be used on an on-going basis, not just through the July 18th cutoff for budget adjustments.

Previously, we budgeted to the line item; in the new financial system, are we budgeting down to the individual?

Although it is not required, there is the potential to budget to an individual employee if it meets the needs of a unit.

Previously, we didn't revise a budget during the fiscal year. Will we be able to do so in EFS?

Once a fiscal-year budget is submitted, it is final. No modifications may be made.