The Department Verification report or commonly called as 1074 report details all the financial transactions related to the cost center. The 1074 report consists of 6 sections
Revenue and Expense Budget Node Summary (Section 1)
Revenue and Expense Budget Node & Account Summary (Section 2)
Detailed Transactions – Assets/Liabilities/Fund Equity (Section 3a)
Detailed Transactions – Revenue and Expense (Section 3b)
Detailed Transactions – Budget Journals (Section 3c)
Open Commitments (Section 4)
Soft Commitments (Section 5)
Balance Sheet (Section 6)
The following link will provide a detailed information on how to read and understand the 1074 report.
How to read the 1074 Report
