Plans for the FY 2020 Budget Load

To: Campus Unit Financial Leads
From: Henry Price, Associate Director Budget Planning and Analysis
This memo outlines how the Fiscal Year 2020 (FY2020) budgets for State funds, F&A funds and Trust funds with associated budgets will be loaded.

FAST for State Child Expense and State Revenue
- Future budget for FY2020 is copied in June.
  - June 28, 2019, budget period 2020 budgets will be copied to budget period 2021 to establish the future budget for FY2020. The journal ID will begin with the letters RBS or RBSR, respectively.
  - July 1, 2019, budget period 2020 will be opened to become the operating budget for FY2020.
- Carryforward budget from FY2019 is communicated and loaded after Office of State Budget Management approval.

FAST for F&A Child Expense
- Future budget for FY2020 is copied in June.
  - June 28, 2019, budget period 2020 budgets will be copied to budget period 2021 to establish the future budget for FY2020. The journal ID will begin with the letters RBF.
  - July 1, 2019, budget period 2020 will be opened to become the operating budget for FY2020.
- Carryforward budget is loaded in July after year-end close.
  - Sources 14102, 14103, and 14104 are only used if there is a budget balance (positive or negative) to carry forward from the previous fiscal year. The journal ID will begin with the letters FACF.
- Formula Allocation budget is loaded in July after year-end close. The journal ID will begin with FORM20.

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 2020 row of the Associated Budgets table’s Expense tab.
  - July 1, 2019, budget period 2020 will be opened to become the operating budget for FY2020.

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
- July 1, 2019, you can submit budget journals to increase the Trust budget based on its fiscal year 2019 ending balance.
OSR budgets

Associated Budget Table: Campus Unit Financial Leads, or designees, may submit a remedy ticket to add or remove a Trust source from the Associated Budgets table. The remedy ticket should be directed to ConnectCarolina > ConnectCarolina Finance > Budget, and must include the revenue and expense chartfield strings. Remedy tickets must be received by COB Friday, June 21.

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 Financial 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