Budget Journal Examples

Below are links to budget journal coversheets for a variety of budget adjustments to serve as a general reference by budget journal initiators and approvers.  The goal is to provide visual examples of commonly posted budget journals displaying parameter components selected on the Budget Header tab, header descriptions, line descriptions, and budget lines.

Please keep in mind that on REVEST budget journals (revenue budget adjustments), the signs associated with the amounts on the budget journal lines will be the opposite of what was keyed on the Budget Lines tab.

On financial reports such as a 1074 report, expense transactions do not post with the same sign as revenue transactions. The same logic applies to revenue and expense budgets.  Revenue budgets do not post with the same sign as expense budgets.

On a financial report such as a 1063 or 1074 report, the correct form for budgets reflect as a negative amount for revenue budgets (-$25,000) and as a positive amount for expense budgets ($25,000).

In the above scenario, if the cost center's revenue and expense budgets were increased by $5,000, on the REVEST budget journal, the budget journal line is keyed as a positive $5,000, the coversheet will reflect -$5,000 and when the budget journal is posted, the revenue budget will change from -$25,000 to -$30,000.

On the expense side, for the ORG budget journal, the budget journal line is keyed as a positive $5,000, the coversheet will reflect $5,000 and when the budget journal is posted, the expense budget will change from $25,000 to $30,000.

 

Zero Dollar Budget (ZDB) Adjustments

Expense budgets need to be posted to a cost center in the appropriate budget node(s) before expenses can post in PeopleSoft Finance.  If not, the voucher, requisition, purchase order and/or general ledger journal will generate a "No Budget Exists" error during the budget check process.  If an actual sufficient expense budget cannot be posted to at least cover the amount of the expense/encumbrance attempting to post in Finance, then a zero dollar ($0) budget can be established.

Zero Dollar Budget (ZDB) for Non-Payroll Budget Establishment

A budget in any salary & wages budget node needs to be posted to a cost center in PeopleSoft Finance before any payroll earnings can post in PeopleSoft Finance, and BEFORE the speed type for the cost center can be utilized in PeopleSoft HR on an ePRF or an eRAF.  For local cost centers (fund group 2 through fund group 5), the fringe benefits budget node (B5007) should be included on the budget journal.  If not, UH will receive a "No Budget Exists" error during the budget check process when the payroll journal attempts to post in PeopleSoft Finance.  UH will subsequently contact the UHD Budget Office to address, resulting in the need to post another budget journal. so UH can proceed with posting the payroll journal in Finance.

Zero Dollar Budget for Payroll Budget

 

Budget Transfers

Budget journals submitted to transfer budget from one budget node to another budget node, or one cost center to another cost center, should have debit and credit amounts on the budget journal lines that match.  Initiators and approvers should ensure debit and credit amounts match before sending to workflow and/or approving.  The university's budget must stay balanced between revenue budgets and expense budgets by fund code and it requires that budget adjustments are balanced.

Budget Transfer within Cost Center

Budget Transfer between Cost Centers

Budget Swap (If eligible, a budget swap is a budget transfer between different fund codes that will typically require cost centers under department D0902)

Budget Transfer from M&O to Position and Benefits

Budget Transfer from One Position to Another Position (same position type)

Transfer Position and Fringe Benefits Budgets Between Cost Centers

 

Revenue Budget Adjustments

The UHD Budget Office rarely allows base budget adjustments to revenue budgets, so the majority of revenue budget adjustments will be revised (current year only).  This includes adjustments to the fund balance budget node B4035. 

Carry Forward (also known as Recognize Fund Balance) and Recognize Revenue budget adjustments will require an increase to a revenue budget node (REVEST Ledger Group) and an increase to an expense budget node (ORG Ledger Group for fund groups 1 through 4 and PROJ_GRT for fund groups 5 and 7).  As such, two budget journals need to be submitted.  Individually, each budget journal will have a debit/credit imbalance but together, both budget journals will keep the ledger balanced.  These budget adjustments recognizes or establishes the use of a cost center's fund equity, or current year revenues posted, and provides the budget in the appropriate expense budget node in order for the department to spend the funds as needed.

Carry Forward budget adjustments should be submitted when a department intends to spend the amount in the current fiscal year.  Carry forward budget adjustments that are posted and not spent cannot be captured during financial year-end close resulting in the cost center losing the unspent fund equity carried forward.

Recognize revenue budget adjustments not only allows departments to spend revenues collected within the current fiscal year, they allow the university to view and analyze revenue budget estimates versus actuals data throughout the year and particularly during the budget development cycle. 

During even fiscal years, all year-to-date gift revenues posted in 4027 and 4041 cost centers must be posted by February.  During odd fiscal years, all year-to-date gift revenues posted in 4027 and 4041 cost centers must be posted by April.  

Carry Forward/Recognize Fund Balance - Revenue Budget Side

Carry Forward/Recognize Fund Balance - Expense Budget Side

Recognize Revenue - Fund Groups 2 or 3 - Revenue Budget Side

Recognize Revenue - Fund Groups 2 or 3 - Expense Budget Side

Recognize Revenue - Fund Code 4027 - Revenue Budget Side

Recognize Revenue - Fund Code 4027 - Expense Budget Side

Recognize Revenue - Fund Code 4041 - Revenue Budget Side

Recognize Revenue - Fund Code 4041 - Expense Budget Side

 

Project Budget Adjustments

Budget journals to adjust revenue and expense budgets for Ledger 5 grant cost centers and Ledger 7 project cost centers.  The Office of Scholarships and Financial Aid (OSFA) submits budget journals for student financial aid grant cost centers.  The Office of Research and Sponsored Programs (OSRP) submits budget journals for research and sponsored program grant cost centers.  The Budget Office submits budget journals for UHD project cost centers.

Master Revenue Budget - Grant Cost Center

Master Expense Budget - Grant Cost Center

Project Revenue Budget - Grant Cost Center

Project Expense Budget - Grant Cost Center