Budget Administration

1
Budget Administration

• For Institutional Advancement

2
Budget Administration

• Who maintains the budget?

3
Budget Administration

• Who maintains the budget?
• Beverly
• Dottie
• Jennifer
• Lindsay
• Nan
• Natasha
• Roz
• Theresa

4
Budget Administration

• What is a budget?

5
Budget Administration

• What is a budget?
• Not money!
• If the College receives adequate revenue during
  the fiscal year, the finance office can commit
  the designated amount of budget to your
  organization.

6
Budget Administration

• Why does the budget need to be reconciled?

7
Budget Administration

• Why does the budget need to be reconciled?
• To prevent expenses from exceeding the allocated
  budget
• To correct errors
• To provide accurate information to the Vice
  President at the divisional level

8
Budget Administration

• Where do you find the Rollins Account Tracking
  System (RATS) and Budget Viewer?

9
Budget Administration

• Where do you find the Rollins Account Tracking
  System (RATS) and Budget Viewer?
• M\DEV_BANNER\Budget Reconciliation
• http//www.rollins.edu/finance/Budget/BudgetViewer
  .html

10
Budget Administration

• When is the budget reconciled?

11
Budget Administration

• When is the budget reconciled?
• By the 5th of each month
• For example Septembers reconciliation should
  be completed by October 5th

12
Budget Administration

• How do you manage a budget?

13
Budget Administration

• How do you manage a budget?
• Enter budget allocations when the fiscal year
  begins
• Enter expenses and credits as they occur
• Compare RATS and Budget Viewer on a monthly basis
• Research and correct errors

14
Budget Administration

• Important detail!
• Enter the corresponding document reference code
  for each transaction after the expense or credit
  posts to Budget Viewer

15
Budget Administration

• Budget Transfers
• The base is never adjusted in RATS
• No adjustments can be made between accounts
  within the same organization
• Adjustments are reviewed and entered by
  Advancement Services
• Confer with Advancement Services on part-time
  temporary pool transfers

16
Budget Administration

• Entering Budget Allocations
• Entering Expenses and Credits
• Marking Transactions as Posted

17
Budget Administration

• Correcting Errors
• Refer to the Research Contacts table to locate
  the appropriate person to contact
• Submit a Journal Entry Correction form and attach
  a copy of Budget Viewer

18
Budget Administration

• Q A