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Welcome! Office of Fiscal Management Overview

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Title: Welcome! Office of Fiscal Management Overview Author: Barbara P Roper Last modified by: Joey Ennis Created Date: 7/5/2013 12:54:15 PM Document presentation format – PowerPoint PPT presentation

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Learn more at: http://www.doa.nc.gov
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Title: Welcome! Office of Fiscal Management Overview


1
Welcome!Office of Fiscal Management Overview
  • Barbara Roper
  • Sarah Griffin
  • Tony Norwood
  • Michele Goff

2
Agenda
  • Budget Overview
  • Budget Division Authorization (BDA)
  • Accounts Payable Procedures
  • Department Contract Templates
  • Purchasing Policies and Procedures

3
Certified vs Authorized
  • Whats the difference?

4
Certified Budget
  • The budget as enacted by the General Assembly.

5
Authorized Budget
  • The certified budget with approved changes by DOA
    or OSBM.

6
Types of Budget Codes
  • 14100 General Fund
  • 241XX Special Fund
  • 34100 Federal Funds
  • 4XXXX Capital Improvement Funds
  • 54100 Enterprise Funds
  • 64100 Trust Funds
  • 74100 Internal Service

7
14100 General Fund
  • Commonly referred to as appropriated funds
  • Budget is created with funds that the General
    Assembly has appropriated from tax revenues and
    other sources for certain programs.

8
241XX Special Revenue Funds
  • Account for proceeds of specific revenue sources
    or finance specific activities required by law or
    administrative regulation.
  • Self supporting
  • Maintain a cash balance which does NOT revert at
    June 30th

9
What is a Fund (Center)?
  • Each Division is assigned one or more fund
    numbers
  • Accounting terminology calls them centers but
    for budget purposes they are called funds
  • Budget reports by fund number (BD701)

10
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11
Budget Report (BD701)
  • Budget items are grouped by type of accounts or
    line items
  • 53XXXX Expenditure Accounts
  • 43XXXX Revenue Accounts

12
Line items in your Budget Report
  • 1XXX Personal Services
  • 2XXX Purchased Services
  • 3XXX Supplies
  • 4XXX Property, Plant and Equipment
  • 5XXX Other Expenses and Adjustments
  • 6XXX Aid and Public Assistance
  • 7XXX Reserves
  • 8XXX Intragovernmental Transfers
  • (Line items are preceded by 53 for expenditures
    or 43 for revenues)

13
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14
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15
What are Encumbrances?
  • Funds that are being held for future use
    towards purchase orders and contracts your
    Division has placed.

16
Fund Balance
  • Fund balance is created from excess revenues over
    expenditures and represents a cumulative cash
    balance over time.
  • Special Funds
  • Internal Service Funds

17
Who has fund balance?
  • Fair Housing
  • Indian Talent Search
  • Motor Fleet Management
  • State Surplus Property

18
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19
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20
What is an RCC?
  • Responsibility Cost Center
  • Examples
  • Facilities Management (1421)
  • 0101 Archdale Bldg
  • 0102 Dobbs Bldg
  • 0103 Legislative Bldg
  • 0104 ArchHist St Lib

21
Lapsed Salary or Salary Reserve
  • Lapsed Salary
  • Salary Reserve
  • Funds generated while a position is vacant
  • Lapsed salary can be used to hire temporary
    during vacancy
  • Provide vacant position number in temporary
    request
  • Funds available when a position is budgeted
    higher than the salary
  • Example
  • Position is budgeted at 35,000 and you hire at
    30,000. This created 5,000 in salary reserve
    that can be used for other hires.

22
Budget Revision
  • Realign the authorized budget
  • At month end to cover negative balances
  • When large purchase order or contract is created

23
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24
Budget Authorization Form
  • This form is utilized to request use of funds
    PRIOR to the following
  • Out of State Travel
  • In State excess
  • Conferences/Workshops
  • Registration
  • Reimbursement for non-employee

25
Questions
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