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Budget Control

Thu, 2014-06-26 04:14 — santanumondal

Overview

A Budget Control is management's preliminary "action plan" for the future, and represents a further sub-division of an organization’s allotments into such things as organizational entities, projects, activities and objects of expenditure (i.e. Supplies budget, Travel budget, etc.). The combination of elements that determine the level at which budgets are set depends on the nature of the organization's activities and management practices.  The system allows users to produce financial budgets.

A Budget Control enables users to establish a budgetary control level as well as additional higher control levels as appropriate. Before being accepted for posting, all financial transactions (expenses, commitments, obligations, revenues) that are posted to the system are checked for availability of funds against their associated budget controls.

 

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Budgeting & Appropriation ► Budget Control

Budget Control scereen Fields and Tab

Field

Description

Workflow Status

Current workflow status of the budget control. It is a closed domain, means automatically updated by the system.

Budget Control Type

Function used to define the Budget Control Types (e.g., Allotement1, Allotment2, Financial Budget, etc.) and link each type with a pre-defined COA Group.

Fiscal Year

Fiscal Year of the Budget Control.  Default value is the current Fiscal Year in the system.

Budget Office

Budget Office of the Budget Control.

Allow To Exceed

Default value of the Exceed amount when the budget control is created.  It defines if the created Budget allowed to exceed or not.

Coding Block

Coding Block for the Budget Control.  Coding block is a string which defines an account. The string represents hierarchical elements defining that particular account.

Tolerance Percentage

Allowable variances in Percentage that can be exceed the Budget Control amount during expenditures. Default is as defined in the Budget Control Parameters. The Tolerance Percentage should not exceed the Default Tolerance Percentage defined in the Budget Control parameters. 

Tolerance Amount

Users can only use either the Tolerance Percentage or Tolerance Amount.

Currency

The user to select the Voucher Currency. Default is Domestic Currency.

If the general parameter 'System Accepts Multi-Currency Transactions' is False, then this field will be disabled and its value is Domestic Currency.

Exchange Rate

Will show the latest active exchange rate for the selected currency which is linked to the Appropriations, users can change the rate if allowed in the Appropriations parameters, otherwise this field will be ‘Display only’ and updated only by the system when the currency is selected. Default is 1 (because default currency is Domestic). If the general parameter 'System Accepts Multi-Currency Transactions' is False, then this field will be disabled.

Validated By Foreign Currency

To indicate if the foreign amount is the one to be used for amount validation when a transaction is posted. If No, then the converted domestic amount will be used for validation. If the general parameter 'System Accepts Multi-Currency Transactions' is False, then this field will be disabled.

Budget Distribution Control

Indicates if the amount of the transaction is validated against the distributed amount for the relevant period or against the total amount of the budget control (if not checked).

Budget Control Based on Accumulated Period Amount

This field is used when Budget Control is in distribution. It is a read only field, get activated only when Budget Distribution Control attribute is true

Original Amount (Domestic)

Domestic Budget Control original amount.

Original Amount (Foreign)

Foreign Budget Control original amount

Transfers (Domestic)

Running total Domestic amount of Budget Control Update Voucher of type Transfer for the given control; automatically calculated.

Transfers (Foreign)

Running total foreign amount of Budget Control Update Voucher of type Transfer for the given control; automatically calculated.

Updates (Domestic)

Running total Domestic Amount of Budget Control Update Voucher of type Update for the given control; automatically calculated.

Updates (Foreign)

Running total foreign amount of Budget Control Update Voucher of type Update for the given control.  This value is updated with each transaction of type Adjustment.

Reserve (Domestic)

Running Total Domestic Requested Amount Credit of Virement Voucher.  This value is updated when workflow status request for approval.

Reserve (Foreign)

Running Total Foreign Requested Amount Credit of Virement Voucher.  This value is updated when workflow status request for approval.

Current Amount (Domestic)

Domestic budget original amount +/- Transfers +/- Updates through Budget Transfer Vouchers; automatically calculated.

Current Amount (Foreign)

Calculated Field, Display Only field display Foreign budget original amount +- Transfers +- Updates +- Reserve through Budget Transfer Vouchers

Allocated (Domestic)

Total amount of related children budget controls that are controlled by this BC.  If the child BC does not exist, then the value of this field is zero; automatically calculated.

Allocated (Foreign)

Calculated Field, Display Only field reads foreign total amount of related children budget controls that are controlled by this BC. If the child BC does not exist, then the value of this field is zero; automatically calculated.

Unallocated (Domestic)

Current Domestic Unallocated Amount; automatically calculated.

Unallocated (Foreign)

Current Foreign Unallocated Amount; automatically calculated.

Non-Main Allocated (Domestic)

Calculated Field, reads domestic total amount of related children budget controls that are controlled by this BC. If the child BC doesn't exist, then this attribute will have zero.

Non-Main Allocated (Foreign) 

Calculated Field, reads foreign total amount of related children budget controls that are controlled by this BC.  If the child BC doesn't exist, then this attribute will have zero.

Non-Main Unallocated (Domestic)

Calculated Field = Domestic Current BC Amount - Non-Main Allocated (Domestic)

Non-Main Unallocated (Foreign)

Calculated Field =Foreign Current BC Amount - Non-Main Allocated (Foreign)

YTD Actual (Domestic)

Actual Total Domestic YTD Amount of posted transactions to the related Coding Block at the GL level; automatically calculated.

YTD Actual (Foreign)

Actual Total Foreign YTD Amount of posted transactions to the related Coding Block at the GL level; automatically calculated.

Obligation (Domestic)

Domestic amount of the Obligations. This field reads from the Total Domestic Amount of posted Obligations to the related Coding Block at the GL level; automatically calculated.

Obligations (Foreign)

Calculated Field, Display Only field reads from the total foreign amount of posted Obligations to the related Coding Block at the GL level

Commitments (Domestic)                  

Calculated Field, Display Only field reads from the total domestic amount of posted Commitments to the related CB at the GL level

Commitments (Foreign)

Calculated Field, Display Only field reads from the total foreign amount of posted Commitments to the related CB at the GL level

Indicative Commitments (Domestic)

Calculated Field, Display Only field reads from the total domestic amount of posted Indicative Commitments to the related CB at the GL level

Indicative Commitments (Foreign)

Calculated Field, Display Only field reads from the total foreign amount of posted Indicative Commitments to the related CB at the GL level

Free Balance (Domestic)

Automatically calculated field. Domestic Current Budget Control Amount - (Domestic YTD Actual + Domestic Obligations + Domestic Commitments).

Free Balance (Foreign)

Automatically calculated field. Foreign Current Budget Control Amount – (Foreign YTD Actual + Foreign Obligations + Foreign Commitments)

Accumulated Obligation (Domestic)

Calculated Field, Display Only field reads from the total domestic amount of posted transactions

Accumulated Obligation (Foreign)

Calculated Field, Display Only field reads from the total foreign amount of posted transactions

Paid (Domestic)

Total domestic amount of posted transactions to the related CB at the GL level

Paid(Foreign)

Total foreign amount of posted transactions to the related CB at the GL level

Annual Forecast (Domestic)

Annual Domestic Forecast amount, default is zero

Annual Forecast (Foreign)

Annual Foreign Forecast amount, default is zero

Surplus / Deficit (Domestic)

Automatically calculated field. Domestic Current BC Amount – Domestic Annual Forecast

Surplus / Deficit (Foreign)

Automatically calculated field. Foreign Current BC Amount – Foreign Annual Forecast

Active

Whether the budget control active or not. 

Created By

Indicates the user who created the budget control; automatically populated.

Created On

Indicates the date the budget control was created; automatically populated.

Approved By

Indicates the user who approved the budget control; automatically populated.

Approved On

Indicates when the budget control was approved; automatically populated.

Grouping Category

The assigned user is able to group budget controls accordingly to type.

Distributions Tab

Section where the Budget Distributions are defined for the Current Fiscal Year.