To: University Business Managers
MOU Leads
From: McGregor Bell, Budget Director
Brian Smith, Assistant Vice Chancellor for Finance and Accounting
Date: April 10, 2015
Based on some feedback we received in response to our campus communication earlier this week around changes to budget rule sets, we need to make some final adjustments to the affected rulesets that we outlined in that email. The final adjustments follow:
- For F&A expense – add 2, instead of 1, account rollups:
- 510000 Personnel
- 500100 All other expenses
- For Trust 1 expense – add 2, instead of 1, account rollups:
- 510000 Personnel
- 500100 All other expenses
- For Trust 2 expense – add 2, instead of 1, account rollups:
- 510000 Personnel
- 500100 All other expenses
For purposes of clarification, all of the amended and restated changes to the FY 15-16 budget rulesets for PeopleSoft Commitment Control, including above referenced updates, follow:
- Eliminate “Associated Revenue” due to confusion associated with this concept. The goal for this concept can be achieved through the use of allocations that create expense budget journals nightly based on recognized revenue.
- For F&A expense – add 2 account rollups:
- 510000 Personnel
- 500100 All other expenses
- For Trust 1 expense – add 2 account rollups:
- 510000 Personnel
- 500100 All other expenses
- For Trust 2 expense – add 2 account rollups:
- 510000 Personnel
- 500100 All other expenses
- Trust 1 and Trust 2 revenues will roll up to a new account 400100, “All Other Revenues” as opposed to being at the detailed account level.
- Addition of “Program” and “Cost Codes 1, 2, and 3” ledger groups, for expenses, to the Foundation units to facilitate reporting needs.
- Removal of optional “Cost Code 3” chartfield from Trust 2 Expense ruleset.
If you have any questions, please contact McGregor Bell at mcgregor.bell@unc.edu or Yahui Chao at chaoy@email.unc.edu. Thank you.