Operating Account Reports

The Document Packet delivered via DocSoup will include 4 reports:

  1. Budget vs  Actual  (BVAK)
  2. Monthly Detail Ledger Report (LDMNA)
  3. Monthly Encumbrance Detail Report (LDMNE)
  4. Monthly Budget Detail Report (LDMB)

The Budget vs. Actual Report will give the monthly totals and year-to-date totals for all actual expenditures by account subcode for the fiscal year (which ends on May 31st).  The Encumbrance column reports the total encumbrances remaining at that particular month-end.  The Budget column represents the annual budget for the account, by subcode and in total.  The Available column reports what is remaining to spend after the actual expenditures and encumbrances have been subtracted from the budget line-item.  The % Used column is the ratio of Actual Expenditures to the Budget.  If the ratio is over 100%, then that line-item has been fully expended.

The operating accounts are monitored monthly to ensure that the department account does not exceed its budget.  The capital expenditure subcode (7001) is monitored in particular to make sure that capital expenditures have been approved, funded and not exceeded.  It is the department’s responsibility to monitor all other subcodes.  Funds may be shifted between subcodes if the department warrants the realignment.  See Reallocations and Corrections of Accounting Distribution for procedures to do this.  If the account balance is in a deficit, it will be suspended from future purchasing activity until funds are transferred in to cover the deficit and provide for future expenditures.

The Monthly Detail Ledger Report itemizes the transactions that have occurred for the month.  Information on the transaction include: the date of the transaction, the type of transaction (purchasing, cash receipts, labor, general journal entry), the description of the transaction, an identifier such as an obligation number, cash receipt number, journal entry number, the amount of the transaction, the total for the month for each subcode which ties to the Monthly Total on the BVAK report and the running total for the year for each subcode which ties to the year-to-date total on the BVAK report.

The Monthly Encumbrance Report will show all purchases encumbered by purchase orders for the month.  It will also indicate those that have been removed from encumbrance and now represent an actual invoiced expenditure in the LDMNA.  The remaining balance of encumbrances as of the month-end date carries to the Encumbrance column on the BVAK report.  All encumbrances should be cleared by fiscal year-end.

The Monthly Budget Detail Report will report any budget changes that have occurred during the month.  The new Budget total carries to the Budget column on the BVAK report.