MORE on

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MORE on LedgersPre-EncumbrancesEncumbrances
Other Spectrum Reports
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Defining Ledgers

• Budget Ledger
• Actuals Ledger
• General Ledger

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Defining Ledgers

• 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)
  

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Defining Ledgers

• Actuals Ledger
• Transactions listed have been approved and
  posted.
• Is most up-to-date status of funds EXPENDED

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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.

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Remember..
Navigating the Reports

• 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.

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Defining

• Pre-encumbrances
• Encumbrances

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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. (Cont.)
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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.

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Review of Pre-Encumbrances and Encumbrances Encu
mbrances 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.

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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
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Other Spectrum Reports

• Project/Grant Status Report
• Organizational Budget Summary Report
• nVision Budget Status Summary Detail Report

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Other Spectrum Reports
What to do when you need more than a Drill Down
Report???
The Drill Down Reports were created
specifically to assist in Expenditure Review,
but referring to or cross checking with other
SPECTRUM reports sometimes helps to answer
questions and resolve discrepancies.
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Other Spectrum Reports
Project/Grant Status Report
The Project/Grant Status Report is a Spectrum
report of financial results, by
Sponsored Project, 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
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Other Spectrum Reports
Project/Grant Status Report
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
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Other Spectrum Reports
Organization Budget Summary Report

• 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

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Other Spectrum Reports
The Project/Grant the Organization Budget
Summary Reports
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)
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Other Spectrum Reports
The nVision Budget Status Summary Detail Report
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
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Other Spectrum Reports
The nVision Budget Status Summary Detail Report

• 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)

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You are on your way to becoming an Expenditure
Review expert

• Exit to return to
• Expenditure Review Training