Skip to main content
 

To: Campus Unit Financial Leads
From: Henry Price, Associate Director Budget Planning and Analysis

This memo outlines how the fiscal year 2021 (FY2021) budgets for State funds, F&A funds and Trust funds with associated budgets will be loaded. Due to economic uncertainty at this time, instructions for unspent funds and carry-forward funds are excluded. Additional information will be shared with Campus Unit Finance Leads as it becomes available from the Office of State Budget Management (OSBM) and leadership.

  • FAST for State Child Expense and State Revenue
    • Future budget for FY2021 is copied in June.
      • June 30, 2020, budget period 2021 budgets will be copied to budget period 2022 to establish the future budget for FY2021. The journal ID will begin with the letters RBS or RBSR, respectively.
      • July 1, 2020, budget period 2021 will be opened to become the operating budget for FY2021.
  • FAST for F&A Child Expense
    • Future budget for FY2021 is copied in June.
      • June 30, 2020, budget period 2021 budgets will be copied to budget period 2022 to establish the future budget for FY2021. The journal ID will begin with the letters RBF.
      • July 1, 2020, budget period 2021 will be opened to become the operating budget for FY2021.
    • Formula Allocation budget is loaded in July after year-end close. The journal ID will begin with FORM21.
  • FAST for Trust Expense with associated budgets
    • Beginning budget is loaded in July after year-end close. The journal ID will begin with the letters TRROL.
      • Fiscal year-end fund balance, based on Fund-Source, is loaded as the beginning budget.
        • Owning Department is not part of the equation.
        • Balances on funds 297xx and 298xx are excluded from the beginning budget.
      • Budgets are loaded to the chartfield string indicated on the budget period 2021 row of the Associated Budgets table’s Expense tab.
      • July 1, 2020, budget period 2021 will be opened to become the operating budget for FY2021.

Associated Budget Table: Campus Unit Finance Leads, or designees, may submit a ServiceNow request to add or remove a Trust source from the Associated Budgets table.  Submit a help request through http://help.unc.edu, Search Finance from the Search Bar, and select “Request Help with Finance Application”.  Please include the revenue and expense chartfield strings. Requests must be received by COB Friday, June 19.

No Action is Taken On:

  • FAST for Trust Revenue budgets
  • FAST for Trust Expense budgets not listed on the Associated Budgets table. To confirm if a trust source has an associated budget, in ConnectCarolina, follow this menu path to view the table:  Home > Finance Menu > Commitment Control > Define Control Budgets > Associated Budgets.
    • Beginning July 1, 2020, you can submit budget journals to increase the Trust budget based on its fiscal year 2020 ending balance.
  • OSR budgets.

MORE INFORMATION

FAST parent for both State and F&A funds will be set to “Track Without Budget,” which means that ConnectCarolina will not stop a transaction due to insufficient budget.  Campus Unit Finance Leads are responsible for maintaining appropriate spending within their budget. Budget Planning & Analysis will conduct quarterly reviews and contact Campus Units that have overspent.

Viewing budgets in InfoPorte:

  • To view all of your current budget period budgets you will need to select the previous and current fiscal year along with budget period we are in. You can also leave the fiscal year blank and only select the budget period.
  • To see an example of how this works please refer to the Viewing Budgets in InfoPorte document on ccinfo.unc.edu

You can identify the type of budget entry, by the first few letters of the budget journal ID, which is displayed in both InfoPorte and Budgets Overview:

  • Recurring Budget State = RBS
  • Recurring Budget State Revenue = RBSR
  • Recurring Budget F&A = RBF
  • F&A Carryforward = FACF
  • F&A Formula Allocation = FORM
  • Trust Carryforward for Trust sources that are set up as associated budgets = TRROL