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302.BUD: Budgetable Amount - Endowments
Documentation :|: BEN Balances Report Documentation :|: Quick View

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Last Updated: 10/06/97

The 302.BUD report provides information to assist departmental business administrators in budgeting endowed funds. In determining the amount available to be budgeted, the report displays, on a fund by fund basis, the prior year operating (surplus)/deficits in both NAC 0 and NAC 1, the Projected FY Gross AIF Income, other fiscal year-to-date budgetable income, budgetable expenditures and fiscal year-to-date amounts already budgeted. Budget information is provided at the FUND level for all endowment funds selected. This report shows budget information only - what is budgetable vs what is currently budgeted. No actual encumbrance or expenditure data are shown. Additional information useful to the budgeting process, such as any donor or Penn designated restrictions on the fund, are also displayed on this report.

Various report types and selection parameters are available to provide the user with reporting flexibility. Report types include school/center by fund or by available amount, and responsible organization by fund or by available amount. Selection parameters allow the user to select funds based on school/center, responsible organization, donor restrictions or Penn designations. In defining the report's selection parameters the user can specify up to three types of donor organization, program or object restrictions, or up to three types of Penn organization or program designations.


Report Break:

The report break is determined by the Report Selection parameter.

School/Center - A new page is created for each unique School/center reported. Subtotals are calculated for each School/center and a grand total is provided for all schools or centers reported.

Responsible Organization - A new page will be created for each unique responsible organization (RESP ORG) reported. Subtotals are calculated for each RESP ORG and a grand total is provided for all RESP ORGs reported.


Sort Order:

The sort order is determined by the Report Selection parameter. The first sort will either be by School/center or by RESP ORG, in ascending order. The second sort will either be by fund in ascending order or by amount available in descending order. If the amount available is the same for multiple funds, then these funds will be sorted by fund in ascending order.


Report Template:

No report template is used for this report.


Parameters:

  1. Period Name LOW/HIGH
  2. Report Selection
  3. School or center LOW/HIGH
  4. Responsible Organization LOW/HIGH
  5. Donor Restriction - ORG (1-3)
  6. Donor Restriction - PROG (1-3)
  7. Donor Restriction - OBJ (1-3)
  8. Penn Designation - ORG (1-3)
  9. Penn Designation - PROG (1-3)

There are three types of report parameters for the 302.BUD report:

Report Selection - This parameter controls the report break and sort order.

  1. School/Center by Fund
    • Within each School/Center, list funds in ascending order by Fund number; page break for each new School/Center
  2. School/Center by Amount Available
    • Within each School/Center, list funds in descending order by the Amount Available to be budgeted; page break for each new School/Center
  3. Responsible Organization by Fund
    • Within each Responsible ORG, list funds in ascending order by Fund number; page break for each new Responsible ORG
  4. Responsible Organization by Amount Available
    • Within each Responsible ORG, list funds in descending order by the Amount Available to be budgeted; page break for each new Responsible ORG

Period Name and FUND Affiliation - These parameters work similarly to other General Ledger Reports (see Section 6, Report Parameters).

  • Period Name (Accounting Period) (Required)
  • School/Center Low/High (Required)
  • Resp Org Low/High

Note: Due to the time-sensitive nature of certain calculations in this report, the 302.BUD report can only be generated for closed periods.

FUND Attributes - These parameters use the OR condition, therefore, all funds that match any of the attributes specified will be selected. The user can specify up to three values for each of the following attributes:

  • Donor Restriction - Organization
  • Donor Restriction - Program
  • Donor Restriction - Object Code
  • Penn Designation - Organization
  • Penn Designation - Program

If no FUND Attributes are specified, the funds selected will be based solely on the Period Name and FUND Affiliation parameters. If any values for any of the FUND Attributes are specified, the funds selected will be based first on the Period Name and Fund Affiliation parameters. These funds will then be further reduced to include only those funds that also meet the criteria specified in the FUND Attributes parameters.


Report Heading:

The report heading includes the following information:

  1. Report Break
    Indicates the basis on which the report will provide a page break (either School/center or Responsible Organization).

  2. For Month Of: MMM-YY
    Indicates the accounting period through which financial balances are provided. Accounting period is provided as a parameter when the report is requested. The 302.BUD report can only be run for Closed periods; it cannot be run for the current Open period.

  3. School/center/Responsible Organization
    Based on the report selection parameter the numeric code(s) for the School/center or the RESP ORG will be displayed for all funds listed in this section of the report. The School/center codes are presented in a range format depicting NAC '0' and '1' ( e.g., 020 - 021).

  4. Description
    Based on the report selection parameter the School/center or the RESP ORG name will be displayed for all funds listed in this section of the report.

  5. Report Type Indicates the report type selected.


Report Columns:

From left to right, the report columns provide the following information:

  1. RESP ORG
    This column provides the numeric code for the RESP ORG for the endowment fund being reported.

  2. FUND
    This column displays the fund number of the endowment fund being reported.

  3. FUND DESC
    This column displays the name of the endowment fund being reported.

  4. Donor Restrict - ORG
    This column displays the numeric code for any organizational restrictions stipulated by the donor for the endowment fund being reported.

  5. Donor Restrict - PROG
    This column displays the numeric code for any program restrictions stipulated by the donor for the endowment fund being reported.

  6. Donor Restrict - OBJ
    This column displays the object code for any expenditure restrictions stipulated by the donor for the endowment fund being reported.

  7. Penn DSGN - ORG
    This column displays the numeric code for any organizational designations stipulated by the university for the endowment fund being reported.

  8. Penn DSGN - PROG
    This column displays the numeric code for any program designations stipulated by the university for the endowment fund being reported.

  9. PR YR Cash Position(SURP)/DEF - NAC 0
    This column displays the amount of the unrestricted (NAC 0) operating (surplus)/deficit from the prior year for the endowment fund being reported. Credit amounts indicate a surplus.

  10. PR YR Cash Position(SURP)/DEF - NAC 1
    This column displays the amount of the temporarily restricted (NAC 1) operating (surplus)/deficit from the prior year for the endowment fund being reported. Credit amounts indicate a surplus.

  11. Projected FY Gross AIF Income
    This is a calculated number that represents the projected gross AIF income for the fiscal year associated with the accounting period parameter. In this context, "gross income" refers to the amount of AIF income before the overhead adjustment is applied.

    The calculation of projected gross AIF income consists of the following:

      total fiscal year-to-date AIF income posted as of the accounting period specified
    +   projected AIF income for the remainder of the fiscal year
      [this projection takes into consideration both existing AIF investments as well as new gifts received that have not yet, but will be, invested and, therefore, will generate investment income]

    The calculation used in this report is the same as that used in the 114.ORG: Endowment Fund Summary Report. For a detailed description of this calculation, refer to the documentation for that report.

    Special Notes:

    1. Because there is a month lag in posting investment activity, the 302.BUD report generated for the ADJ and JUL periods will have special significance.

      ADJ June investment activity is posted in the ADJ period, therefore, the "Projected FY Gross AIF Income" amount for reports generated for the ADJ period will represent all actual earned income.
      JUL July investment activity is posted in the AUG period, therefore, the "Projected FY Gross AIF Income" amount for reports generated for the JUL period will represent all projected income. For the JUL period the program uses a sepa rate factor (AIFJ) designed for reporting use only.

    2. The AIFG factor used for cash contributions received is not exact. The AIFG factor posted during a period is determined based on the prior month's AIF investment fair market value (i.e., the AIFG factor posted in MAY-97 is based on the AIF Investment fair market value as of the end of April). To be exact, the projected investment income calculation for cash contributions received would require AIFG factors that cannot be determined until later months (i.e., cash contributions received in April would use the AIFG factor calculated and posted in JUN-97; cash contributions received in May would use the AIFG factor calculated and posted in ADJ-97). The current report uses the best AIFG factor available. This will only impact on the "Projected FY Gross AIF Income" amount when large cash contributions are received and the fair market value fluctuates significantly. The 302.BUD report has a flag that will help identify those situations. An asterisk (*) will be placed next to the "Projected FY Gross AIF Income" amount if the fund has received cash contributions of $200,000 or greater during either the current or prior month.

  12. Other Budgetable FYTD Income
    This column represents all other budgetable income that has been posted as of the accounting period specified for the endowment fund being reported. It includes all non-AIF investment income as well as AIF investment income for those endowment funds that have AIF investments but are not spending rule participants.

  13. Budgetable Expenditures - Direct
    This column represents the Budgetable Expenditures - Total minus the Budgetable Expenditures - Overhead.

  14. Budgetable Expenditures - Overhead
    This column represents the amount that must be budgeted for overhead for the endowment fund being reported. This amount reported in this column is a calculated number that takes into consideration whether or not the fund is subject to overhead, the current overhead rate, both the current and prior year NAC 1 income, current year projected income, as well as any overhead already charged on this year's income.

  15. Budgetable Expenditures - Total
    This column represents the total amount that is budgetable for the endowment fund being reported. It is the sum of columns 9 through 12 multiplied by minus 1. The sign is reversed to reflect the appropriate budgetable amount.

  16. FYTD Budgeted Expenditures
    For each fund reported, this column represents the amount that has already been budgeted as of the accounting period specified, including amounts budgeted for overhead.

  17. Available To Be Budgeted/(Overbudgeted)
    For each endowed fund reported, this column represents either the additional amount, if any, that is available to be budgeted (that is, the amount that can be budgeted over and above the amount, if any, that has already been budgeted for the fund) or the amount that has been overbudgeted. This column is calculated as the difference between Budgetable Expenditures - Total and FYTD Budgeted Expenditures. Credit balances represent amounts that have been overbudgeted.


Last Page Of The Report:

On the last page of every report, the following information is provided:

  1. Report Parameters
    The parameters used to request the report are printed on the last page as confirmation of what was requested. If the account combinations returned to you in the report are not what you expected, the report parameters list is a useful first place to start . At a minimum, you can verify the range of values you provided at the time you submitted the report.

  2. Report Break - Resolved Parameters
    The list provided here presents the list of values within the range you provided as Report Parameters that passed security verification. When a report is submitted, ORG parameters that were provided are compared against your security profile. All ORG in the range that match your profile will be returned to you in the report.

    This is a good place to look if you did not get the results you expected. Compare the list of ORG in this list against the parameter range you provided. If an ORG is missing, chances are it does not exist in your security profile.

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