What is the Budget to Actual Summary by Fiscal Year report?

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What is the Budget to Actual Summary by Fiscal Year Report?

The Budget to Actual Summary by Fiscal Year report is the standard report that shows a department or chart-string's financial activity against the fiscal year's budget.

This report was formerly known as the "Department Summary Analysis".

Who should use this report?

The Budget to Actual Summary by Fiscal Year report is useful for users with an annual budget to monitor spending/revenue against. This could be anyone from a department chair to a business manager.

Running the Report

File Path: Financial Services > Financial Reports > Summary Reports > Budget to Actual Summary by Fiscal Year

Parameters

Department - Select any department or roll-up.

Fiscal Period YTD Through - Select the month for the report to run through. The report will always start from the beginning of the fiscal year for the month & year selected.

•   NEW March 2020: You can now run this report through "Year-End", which includes the adjustment periods (906, 910, 920, 930, 970, & 998).

Account - Defaults to "All Accounts".

Fund - State "1111" and Auxiliary "1112" are used most common, as they usually operate a fiscal year budget.

Reimbursed Fringe Benefits - Fringe Benefits that are reimbursable for 1111 fund. Defaults to "Hide", make sure to change this to "Show" if your department/project is responsible for all fringe benefits.

Project - Defaults to all projects, users can change the parameter to pick as many projects as they want to include.

Reading the Report

The first page provides a large table with a summary by showing the roll over, budget, YTD Revenue and Expenses, Open Encumbrances, and amount remaining.

^ (The open encumbrances amount is factored into the amount remaining calculations.)

The smaller tables show those figures broken down by Revenue, Salary & Wages, Fringe Expenses, And Operating Expenses.

The graph shows the budget and actuals information for the past 3 years.

The next page of the report shows the Revenue and Expense tables. If a cell under the "YTD Actuals" is highlighted yellow, it is because the spending for that account is on pace to go over the line's budgeted amount.

The last page has a link to download page 2 of the report in an Excel friendly format with the numbers presented in Natural Account Balances.

Drill Downs

Clicking on the graph on page 1 drills down to the Actuals Chart Analysis by Fiscal Years report.

The first 4 columns on page that have any activity all drill to the Actuals or Budget Detail by Fiscal Year reports.

The Open Encumbrances Column drills to the Open Encumbrances As of Today report.