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LedgersPre-EncumbrancesEncumbrances Other Spectrum Reports
Defining Ledgers
• Budget Ledger• Actuals Ledger• General Ledger
Budget Ledger
May include transactions that have NOT YET posted to the Actuals ledger. (ie., entries pending approval or
pending posting) Due to potential differences with the Actuals ledger,
the Drill-down reports should not be used for budgetary purposes.
Is most up-to-date status of REMAINING spending authority (to avoid spending in excess of budget)
Defining Ledgers
Defining Ledgers
Actuals Ledger
Transactions listed have been approved and posted.
Is most up-to-date status of funds EXPENDED
Defining Ledgers
General Ledger
The GENERAL LEDGER constitutes the official accounting books for the University. Every transaction flows to the general ledger and is recorded in a separate account that is maintained for each kind of asset, liability, net asset, revenue, and expense.
Remember…..
The Actuals rather than Budget Ledger should be used for Expenditure Review.
The Budget Ledger includes pending transactions in addition to
those already approved/posted transactions.
The Budget Ledger should be used to determine remaining spending authority.
Navigating the Reports
Defining
•Pre-encumbrances •Encumbrances
Review of Pre-Encumbrances and Encumbrances
Pre- Encumbrances -Defined
Pre-encumbrance – a claim on funds via an outstanding purchase requisition that has not yet become a purchase order.
The claim is reflected in the Budget Ledger after the Initiator of the
transaction has ensured availability of funds
via the Spectrum budget check process. (Con’t.)
Review of Pre-Encumbrances and Encumbrances
Pre- Encumbrances Defined
• Pre-encumbrance – a claim on funds via an outstanding purchase requisition that has not yet become a purchase order.
Then, claim is recorded in the Actuals Ledger after approval/ posting on Spectrum. Once the requisition is processed as a purchase
order by Purchasing, the pre-encumbrance is released and the funds are encumbered as
an obligation.
Review of Pre-Encumbrances and Encumbrances
Encumbrances Defined
• Encumbrance – an obligation of funds via an outstanding purchase order, which only Purchasing can issue.
The obligation is reflected on both the Budget and the Actuals Ledgers. Upon final payment of the purchase, the encumbrance is released and the transaction recorded as an expenditure on the Ledgers.
Review of Pre-Encumbrances and Encumbrances
Handy Dandy Tips
• Pre-encumbrances should agree with outstanding purchase requisitions that have not become purchase orders. Use nVision Report to review.
• Unrestricted fund pre-encumbrances close at fiscal year-end and funds lapse if not used. • Encumbrances should agree with outstanding purchase orders. Use Drill Down Reports to review.
For specific questions contact Business Services
Other Spectrum Reports
• Project/Grant Status Report• Organizational Budget Summary
Report• nVision Budget Status Summary
Detail Report
The “Drill Down” Reports were created specifically to assist in Expenditure Review, but referring to or cross checking withother SPECTRUM reports sometimeshelps to answer questions and resolve discrepancies.
What to do when you need more than a Drill Down Report???
Other Spectrum Reports
The Project/Grant Status Report is aSpectrum report of financial results, by SponsoredProject, based on Budget Ledger.
For details on Project/Grant Status Reports Procedures click the button to the right.Exit secondary application to return to this training
Project/Grant Status Report
Other Spectrum Reports
Project/Grant Status Report
Other Spectrum Reports
The Project/Grant Status Report applies to Sponsored Projects only
includes summarized financial transactions is based on the Budget Ledger suggested source for determining remaining spending authority to avoid spending in excess of your budget
Organization Budget Summary Report
Other Spectrum Reports
The Organization Budget Summary Report ….• includes summarized financial transactions
• is based on the Budget Ledger
• suggested source for determining remaining spending authority to avoid spending in excess of your budget
This report is available for ALL fund types EXCEPT Sponsored Projects and Agency Funds
Instructions for creating this report, please click button. Exit secondary application to return to this training
REMEMBER: Both reports:
are based on Budget Ledger rather than Actuals Ledger
include summarized financial information only.
provide cumulative financial results (i.e., by fiscal year/budget period; not monthly)
The Project/Grant & the Organization Budget Summary Reports
Other Spectrum Reports
The nVision Budget Status Summary Detail Report
Other Spectrum Reports
The nVision Budget Status
Summary Detail Report is similar to the Organization Budget
Summary Report. The only difference is
format and the access to detailed
transactions that the nVision report provides.
This report is for all fund types EXCEPT Agency Funds.
Instructions for creating this report, please click button on right.Exit secondary application to return to this training
The nVision Budget Status Summary Detail Report
Other Spectrum Reports
Remember: The nVision Report …- Is used to identify differences between Budget and
Actuals Ledgers
- Can also be used to determine remaining spending
authority to avoid spending in excess of budget
- Is based on Budget rather than Actuals Ledger
- Includes both summarized and detailed financial
information
- Provides cumulative financial results (i.e., by fiscal year/budget
period; not monthly)
You are on your way to becoming an
Expenditure Review expert
Exit to return to Expenditure Review Training