Budget Activity in Revenue Ledger Accounts

In preparation for the release of the CR FIN Sources and Uses Summary and CR FIN Plan to Actuals Summary reports, the Modernization reporting team received some feedback from stakeholders about budget amendments processed on revenue ledger accounts. The amendments on revenue ledger accounts are reporting in a way that might make a user think they have a smaller or larger ending balance than they do. Because they do not truly transfer budget to be spent between worktags, it’s possible that cost centers may overspend depending on the reports used to determine remaining budget.

To standardize the definitions of the core budget structure, we are going to reverse all budget amendments made this fiscal year-to-date on revenue ledger accounts. We’ll also put in place a rule prohibiting future amendments on revenue ledger accounts. We’ll make these changes this week.

Note: This message also went directly to initiators on affected budget amendments.