University System of Georgia Summit: Budgeting Insights and Best Practices
Explore effective budgeting strategies for projects at the University System of Georgia Summit, covering commitment control configurations, example transactions, and discussions on optimizing financial tracking. Discover options to enhance budget controls and track expenses efficiently.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Budgeting for Projects Julie Thompson, ITS georgia University System of Georgia summit
Commitment Control Configuration 2015 and prior Carries only project id APPROP PRMST_EXP 700000 level ORG PROJ_GRT 714000 level 714000 level 714100 level 714100 level DETAIL Any transaction with a project id Funds 10000, 10500, 10600, 10900, 12xxx, 13000, 14000, 15000, 16000, 50000 georgia University System of Georgia summit
Example Transactions 2015 and prior georgia University System of Georgia summit
Example Transactions 2015 and prior Institutions had to have funds available at the department level in APPROP. Budgets could also be added at PROJ_GRT to control the spending for that particular project. georgia University System of Georgia summit
Commitment Control Configuration 2016 Carries only project id APPROP PRMST_EXP 700000 level ORG PROJ_GRT 714000 level 714000 level 714100 level 714100 level DETAIL Grants Only determined by Project/Grant flag in set up pages Funds 10000, 10500, 10600, 10900, 12xxx, 13000, 14000, 15000, 16000, 50000 georgia University System of Georgia summit
Example Transaction 2016 and after No changes here georgia University System of Georgia summit
Example Transaction 2016 and after Because APPROP is always set to control, budgets have to be added with a project_id to the APPROP ledger at a minimum. Institutions can add a budget at ORG if desired, but most institutions are tracking without budget at ORG. georgia University System of Georgia summit
How is that working? Discussion georgia University System of Georgia summit
Options Leave it the way it is Option to use Budget Attributes to set to track without budget for specific chartstrings Put it back the way it was Remove project_id from APPROP level, leave at ORG ORG currently set to Track without Budget for all institutions, so no control with project_id unless Budget Attributes are used georgia University System of Georgia summit
Options Add an additional ledger for projects only, similar to the PRMST_EXP ledger to control on project basis Other options/suggestions? georgia University System of Georgia summit
Next Steps? georgia University System of Georgia summit
