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Account Statement Report



FBM090


The Account Statement Report (FBM090) displays the monthly status summary of each Subsidiary Ledger account. The report monitors budget amounts versus actual expenses. For each subcode, the report includes beginning budget balances, actual dollars, encumbrances, budget balance available, and percentage of budget used. The monthly detail for each subcode is found on the Report of Transactions (FBM091). These two reports are usually consolidated under the program id of FBM092. Therefore, your monthly reports will show the program id of FBM092 to the far right of the printout. The actual program associated with the specific report will appear on the far left side of the printout. Therefore, for the Account Statement Report you will see FBM090 on the left side of the report and the FBM092 on the right.

The Account Statement Report takes on meaning when one is familiar with the Automatic Budget Reallocation (ABR) rule for the particular account in question and how the ABR works with respect to that account and its subcodes.

The following items are found on the Account Statement Report:

  • 6-digit SL Account Number, Account Description, Responsible Person & Department Number - these fields are found across the top of each report.
  • Object Codes - these are the subsidiary ledger subcodes for revenues and expenses. Since this report is a summary, the supporting monthly transaction detail will be found on the Report of Transactions (FBM091). If there was no monthly activity, then there will be no detail report. Each subcode is shown on a separate line. Transaction detail for prior months can be obtained through using FOCUS.
  • Subtotals - each subcode category (revenues, contractuals, salaries/wages, equipment, etc.) are subtotaled. If only one subcode exists in a category, then subtotals do not print.
  • Account Totals - this line corresponds to the net total lines on the Subsidiary Summary Report (FBM061).
  • Original Budget - displays the beginning budget as of the beginning of the current fiscal year.
  • Revised Budget - displays any transfers, adjustments, or automatic budget reallocations (ABR) that occurred to the Original Balance amount.
  • Actuals - show what expense or revenue activity has occurred in the current month as well as the fiscal year.
  • Open Commitments - these represent the encumbrances on the account. They are summarized in the upper half of the Account Statement Report and detailed in the second portion it. The detail is described in the section below.
  • Balance Available - this column reflects the ending budget balance for the current month. It represents the remaining dollars in the account; i.e what is left to spend. If this value is negative, then it indicates that the account is over budget. Negative balances may be taken care of in several different ways. One way is to rescind or reduce an encumbrance, which is accomplished by either canceling or decreasing a Purchase Order. Another is to move dollars from one budget pool to another, called an A-1 transfer. An accountant or budget analyst can help you with any accounts having negative balances.
  • Percent Used - this indicates the amount of the revised budget dollars that have been used up so far. It is calculated by (Actuals + Open commitments) / Revised Budgets = Percent Used

Be careful in the interpretation of this percent when working with the budget pools. Those line items that draw their dollars from a pool will always show 100% being used. This is because the dollars are drawn down from the pool to the subcode level as they are needed. The subcode level of a budget pool will always reflect the drawn down amount in the "Revised Budget" column, which will be simultaneously displayed as an actual expense. These will net to 0 giving the impression that all the budget dollars have been used at the line item level, which is not necessarily the case. For pooled budgets the percent used should really take into account all the revenues/expenses of the subcodes that are covered by the pool and divide the total by the original budget amount in the pool. The following is a short example that may help in the understanding of the Account Statement Report when it comes to budget pools.

ABR 3 is the automatic budget rule that defines two budget pools; the 1000 pool and the 2000 pool. The 1000 pool covers the budget needs for subcodes in the ranges of 1001-1999 and 5320-5329. The 2000 pool contains budget dollars available for the subcodes within the 2001-5319 and 5330-9399 ranges. Let's suppose that the 2000 pool, also known as the contractual budget pool, begins the fiscal year with a balance of $10,000. Subcode 2620 needs $769.40 for out-of-state travel, which the 2000 will supply since 2620 gets its budget dollars automatically from the pool. So, the original budget of $10,000 for the 2000 subcode is revised to show a budget of $9230.60 and the 2620 subcode shows a revised budget of $769.40. At the same time that the 2620 is showing a revised budget of the $769.40, an expense for the same amount is displayed as an "actual" expense. In other words, whenever a subcode takes money from the pool it must spend or encumber it right away and therefore, using the dollars up immediately (100%). The pool will never show an expense/revenue amount...it simply reallocates dollars to the subcode needing them. Here's how this activity would look on the Account Statement Report.

 
Budgets
Actuals
Open
Balance
 Prcnt
Subcode
Original
Revised
CurrMnth
Fiscal Yr  
Proj Yr
Commits.
Available
 Used
2000
$10,000.00
$9,230.60
$9,230.60
 0
2620
$ 769.40
$ 769.40
$ 769.40
 $0.00
100


Notice that the percent used under the 2000 subcode displays 0. This maybe misleading if you forget that the 2000 pool simply holds dollars to reallocate down to the subcodes needing them. Pools will never show expense or revenue values...the dollars are not "used", but simply reallocated to the line item (subcode) needing them. The percent of the 2000 budget used was actually 8% (769.40 / 10000). Because the change was considered a budget revision, the report thinks that there has been no expense and therefore, calculates the percent used as 0. The subcode 2620 on the other hand considers the $769.40 as its new budget even though the whole amount was an expense charged to the subcode. Therefore, the program thinks that 100% of the 2620 budget was used up. Please see BUDGETING for a clearer explanation.

For a complete listing of the ABR rules and the subcodes they support, click HERE.

Open Commitments

Any encumbrances that have been incurred against the account will be detailed in the last section of the FBM090 Account Statement. These owed amounts are also known as open commitments and will appear under the "Original Amount" column. They are considered future payables and as they are paid off the payment is considered the "Liquidating Amount". The liquidating amounts become expenses and will go towards reducing the original balance. Changes made to the encumbrance amount would be found under the "Adjustments" column. The current balance owed on the commitment will be indicated in the last column of the report.

      
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michael.virone@uconn.edu
Last updated: 11/21/11