Chapter 3: Reviewing Budget Status
Introduction
The Operating Ledger is a report your unit will use to review financial activity on your account and to check the status of your budget. Financial Managers will use the Operating Ledger as an accountability tool for ensuring the accuracy of the budget and financial information for each of the units served by the Division. But in order to understand the Operating Ledger, you need to understand the system that produces it. For further information, read Chapter 2, “Accounting Information Structure and FOAPAL Codes.”
Important: Financial Managers will need to review the Operating Ledger carefully; it is their most important tool in maintaining accountability for the accurate input of budget and financial transactions for the units they serve.
To review additional information on a transaction in FIS Banner, use a query form such as the Detail Transaction Activity Form (FGITRND). You should also review the status of your budget to ensure that you are not overdrawn. Finally, Financial Managers should perform random audits of detailed transactions to ensure that all backup materials are in order, and that data has been entered into the FIS correctly.
The Operating Ledger is a monthly report containing detailed information about transactions posted during the month. It reports on revenue, expenditure, and transfer account activity for all campus organizational units. A separate ledger is prepared for each unit. Within that ledger are reports for each organization/program/fund combination. There are two sections to the report: Current Month Transactions and the Account Summary. Not included in this report are transactions posted to general ledger accounts (shown on the separate General Ledger).
The following FIS Banner forms and their uses are explained in this chapter:
Comments to fisTraining@ucsc.edu
| Content rev. 1 Nov 2006 | Page modified 1 Nov 2006