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Residential Life & Housing Services
Residential Life & Housing Services
Professional Staff Onboarding & Training
Professional Staff Onboarding & Training
Budgets in Practice: Allocations & Chartfields
Budgets in Practice: Chartfields and Allocations
Budgets in Practice: Chartfields and Allocations
- Budgets
- Budget Allocation
- Breakdown of a chartfield
- Chartfield Management
- FAME Reports
- Summary Reports
- Detail Reports
- Budget Reconciliation
Budgets: RLHS
Budgets: RLHS
The (2) Senior Executive Directors each oversee different aspects of RLHS the budget.
Housing Services
Residential Life
Revenue
Expenses
$-$-$-$-$
Allocations (Expenses)
The RL Senior Executive Director establishes annual budgets for all areas. Designated staff oversee different areas of the budget - click each area to see more:
Committees
Central Staff
BLTs
Standard Budget Areas under BLTs
Programming
Office Supplies
Staff Development
Team Meals
Student Employment
$-$-$-$-$
Standard Budget Areas: A Breakdown
- Programming
- Hall budget: $38/bedspace/year
- Hall Council budget: $22/bedspace/year
- Staff Devo: $19.50/RA+SA+PA+RLA/term (3 terms per year)
- Team Meals
- RA@Home break coverage: $50/RA/day
- Training: $20/team member/meal
- Office Supplies: $10/bedspace/year
Chartfields
The university uses chartfields to hold funds that essentially operate as bank accounts
- Each chartfield represents a specific area of the budget
- Every purchase is assigned to one (or more) chartfields
- A chartfield is literally made up of a string of 22 numbers and letters, but broken down into distinct components
Examples:
Gramercy Hall - Hall Council: 65182-10-07118-A0219-WSQPJ
FFIR Programs: 65182-16-07112-G0532-WSQPJ
Below is an example chartfield. Click on each section to learn more about each component.
65182-
10-
07118-
A0219-
WSQPJ
After reviewing each component, click here to move on
Example: 65182-10-07118-A0219-WSQPJ
Chartfields - Accounts
65186 - Team Meal Expenses (@Home meals, training meals) 65182 - Program Expenses (food, tickets, event supplies, etc.) 63110 - Office Supplies 65140 - Staff Development (awards, prizes, recognition) 51118 - Work Study 51119 - Non-Work Study Most Common Account Codes All Account Codes
Example: 65182-10-07118-A0219-WSQPJ
Chartfields - Accounts - *Concur
Expenses reconciled in Concur (covered in another training) do not allow you to choose an account code. Budget managers are expected to track and account for funds being spent that might appear under an unexpected Account code.
- Example: If you buy blue tape and submit for reimbursement in Concur, or try to reconcile it under a PCard, it will automatically be coded to “Painting Supplies" (64410) rather than "Office Supplies" (63110)
Internally, budget managers can either manually move these charges to the correct account (using a JEM, covered in another training), or leave the charge under the unexpected account code while tracking it locally on their budget tracker. Both of these methods are acceptable.
Concur
Example: 65182-10-07118-A0219-WSQPJ
Chartfields - Fund
10 - Non-discretionary (student approval required) - exclusively hall council 16 - Discretionary (no student input needed) - department operating expenses
Chartfields - Org
07117 – FYRE (Reslife Area 1 - primarily FYRE halls) 07118 – 4Y/UY (Reslife Area 2 - primarily UY and owned properties) 07121 – Leased (Reslife Area 3 - primarily UY and leased properties) 07112 – Faculty Programming 07100 – Central staff administration (all other areas, committees, etc)
Example: 65182-10-07118-A0219-WSQPJ
Chartfields - Program
All program codes for specific halls start with an “A”: A0219 - Gramercy Hall A0222 - Founders Hall A0352 - Greenwich Hall
Program codes for non-hall or multi-hall areas start with a “G”: G0528 - RLHS Central Administration G0537 - FYRE G0532 - Faculty Programs
Chartfields - Project
Project codes are assigned to specific campuses. RLHS typically uses the Washington Square Park designation: “WSQPJ”
Chartfields: 65182-10-07118-A0219-WSQPJ
Programming
Hall Council
UY/4Y Area
Gramercy Hall
NYC Campus
Chartfields: 65182-10-07118-A0232-WSQPJ
Programming
Hall Council
UY/4Y Area
Othmer Hall
NYC Campus
Chartfields: 65182-10-07121-A0363-WSQPJ
Programming
Hall Council
Leased Area
Coral Hall
NYC Campus
Chartfields: 65182-16-07121-A0363-WSQPJ
Programming
Discretionary
Leased Area
Coral Hall
NYC Campus
All RLHS Chartfields
Click here to see
Goal: Be fiscally responsible with funds, but spend your money!
What happens to unspent funds?
What happens if I overspend in a chartfield?
- Flexibility: if $X over budget in one area, make sure you are $X under budget in another area
- Rule of thumb: Do not exceed an area’s budget by more than 5%.
- The “Melt”: Unspent money will fund larger initiatives across the department (replacement or reupholstered furniture, new equipment, refurbishments in the halls, etc).
- ADs approve “Melt” purchases, and the BLTs or staff coordinate purchases
Fiscal Year vs. Academic Calendar
- The fiscal year runs from Sep 1 – Aug 31
- Money not spent before Sep 1 is returned to the university
- We use $$$ from a previous year to prepare for opening
- Expect to end the spring semester with money set aside to fund the first few weeks of the next academic year.
- Example: If move-in day is August 23rd, 2025 - we will not have access to Academic Year 25-26 funds until September 1st
- Set aside funds for Welcome Week, supplies, RA meals, etc.
$-$-$-$-$
In-Hall Staff Chartfield Management
RHD - overseer of all budgets
- Programming
- Staff Devo
- Office Supply
RHAD
- Hall Council
- Programming
- Team Meals budget
RHRM
- Work study/non-work study budgets
Example Combined RHD/RHAD Budget Tracker
Non In-Hall Staff & Chartfield Management
- Check with your supervisor to identify common chartfields for which you will be responsible
- Check with your supervisor to determine what tool is used to manage/track any budgets
NEW PRESENTATION?
Residential Life & Housing Services
Professional Staff Onboarding & Training
Budgets in Practice: Budget Management & Tracking
In-Hall Staff Chartfield Management
RHD - overseer of all budgets
- Programming
- Staff Devo
- Office Supply
RHAD
- Hall Council
- Programming
- Team Meals budget
RHRM
- Work study/non-work study budgets
Example Combined RHD/RHAD Budget Tracker
Managing your Budget - Allocating
- The RL Senior Executive Director establishes annual budgets for all areas within chartfields (Programming, Devo, etc)
- The primary budget manager (RHD, RHAD, etc.) can determine how that money is further allocated in discretionary accounts
- Example: A hall’s programming budget (65182) may be allocated into sub-accounts determined by the RHD/BLT:
- RA Floor Budgets
- Specific programming areas
- Resource Center programming
- BLT programming
Managing your Budget - Allocating
- The RL Senior Executive Director establishes annual budgets for all areas within chartfields (Programming, Devo, etc)
- The primary budget manager (RHD, RHAD, etc.) can determine how that money is further allocated in discretionary accounts
- Example: A hall’s programming budget (65182) may be allocated into sub-accounts determined by the RHD/BLT:
- RA Floor Budgets
- Specific programming areas
- Resource Center programming
- BLT programming
50% 15% for CDP/all-hall programs 15% 20%
Managing your Budget - Allocating
- The RL Senior Executive Director establishes annual budgets for all areas within chartfields (Programming, Devo, etc)
- The primary budget manager (RHD, RHAD, etc.) can determine how that money is further allocated in discretionary accounts
- Example: A hall’s programming budget (65182) may be allocated into sub-accounts determined by the RHD/BLT:
- RA Floor Budgets
- Specific programming areas
- Resource Center programming
- BLT programming
70% 10% for CDP/all-hall programs 10% 10%
Managing your Budget - Tracking
- For every purchase you make, enter the details of the purchase into your local budget tracking sheet
- Always assign the purchase to a specific chartfield/budget area
- Programming, Office Supplies, Staff Development, etc.
- Note the method of purchase for each transaction
- PCard, iBuy Marketplace, Online Reimbursement, etc
- Track the date, spender, and vendor for ease of tracking
Managing your Budget - iBuy Marketplace
- Examples - Amazon, WB Mason, Best Buy
- If ordering many things on one purchase (example, an Amazon shopping cart with 3 different items), each item type should be tracked separately (paint set as one transaction, paintbrushes as another transaction, etc.)
- Note the iBuy order number for ease of reconciliation later
- Example: you may spend $70, but if you ordered 3 different things, it will appear on your reconciliation report as 3 transactions
Managing your Budget - iBuy Marketplace
1 transaction, but 3 entries
Note iBuy #
Note item purchased
Amount spent on item
Managing your Budget - iBuy Marketplace
- Examples - Amazon, WB Mason, Best Buy
- If buying multiples of the same item (example - 20 rolls of blue painters tape), they can all be entered together as one entry.
Managing your Budget - PCard
- PCard holders should enter expenses into the budget tracker as they happen - DO NOT wait for the end of the month
- Each transaction should be entered separately per purchase (you do not need to itemize transactions)
- Example: Use a PCard at a restaurant - enter as one purchase
- Example: Use a PCard at Walmart - enter as one purchase
- Exception: if your purchase will be split across two or more chartfields, each chartfield should have its own row
Managing your Budget - JEM
- Anytime you enter a JEM - include all relevant transactions to reflect the FAME report
- Example - if you accidentally charge your Office Supply budget for a $20 Hall Council charge:
- Add a transaction reflecting the incorrect allocation (a $20 charge to your Office Supply budget with a note you are submitting a JEM to Hall Council budget)
- Add a transaction equal to the inverse amount ($20 becomes -$20) under the Office Supply budget with the date of the JEM
- Add a final transaction for $20 to the Hall Council budget
Managing your Budget - JEM
- “Why am I keeping the incorrect transaction in my budget??”
- Submitting a JEM does not erase the original transaction from hitting the incorrect chartfield in your budget
- The incorrect charge will forever remain on your FAME reports
- Good record keeping means keeping the incorrect transaction allocation and noting the corrected transaction (JEM)
- Keeping the transaction is essential in the event of an audit
Managing your Budget - Online Reimbursements
- Online reimbursements will appear on your budget grouped by request number, then by chartfield
- Example: 1 request, 4 receipts, all same chartfield -> 1 transaction for the total amount under the chartfield
- Example: 1 request, 4 receipts, all different chartfields-> each transaction will list under each chartfield (4 different entries)
- Example: 2 requests, 1 receipt each, same chartfield -> 2 transactions under the same chartfield
NEW PRESENTATION?
Residential Life & Housing Services
Professional Staff Onboarding & Training
Budgets in Practice: Budget Reconciliation
FAME Reports
- Budget Reconciliation
- Initial Budgets
- $$ spent this month
- $$ remaining in account
- Confirm Accounting Accuracy
- 100s of transactions a month
- Mistakes are common, but may not be obvious
FAME Reports (continued)
Distributed Monthly
- Shared around the 20th of each month detailing the preceding month’s purchases (Feb FAME received in Mar, Mar FAME in Apr, etc.)
- Admin Aide emails a monthly report to each building alias
2 types of FAME reports
- “BUDGET SUMMARY REPORT”
- Big picture view - monthly/yearly totals only
- “CURRENT MONTH BUDGET DETAIL REPORT”
- Breakdown of every individual purchase within each chartfield
- Primary means of reconciling the budget
Column Descriptions:
A: Original budget B: Adjustments based on need C: Amount spent this month D: Amount spent since September 1st E: Irrelevant
F/G: Money committed for a project or purchase (back-ordered office supply, purchase orders for future events, etc), but not yet spent H: Irrelevant I: Amount left in budget at time of report
Column Descriptions:
Description: expense as typed by the RHAD (if PCard), “OTHR” if Online Reimbursement, or description provided by a vendor (anything ordered in iBuy - Amazon, WB Mason, etc)
Journal Date: Date it hit the budget Source, Jnrl Ref/PO…: Tells us where the receipt was processed (AP for AP Workflow, iB0044…for iBuy, etc)
Column Descriptions:
Vendor: The card number of the PCard, if iBuy it will tell you the vendor name,
Amount posted: Amount of expense Encumbrance: Ordered an item, but haven’t yet been charged for it (backorder, out of stock, etc)
SHOW THE PRACTICAL WAY YOU RECONCILE THE BUDGET
ASKED TO SHOW EXAMPLE OF HOW TO RECONCILE A BUDGET
Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽
Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽
Budget Reconciliation…that doesn’t look right?!
Possible/Common Budget Issues:
- Budget tracker is incorrect
- Purchase made but not tracked by staff in tracker
- Incorrect amount in tracker (typos)
- Unknown item appears on FAME report
- Identify source of the charge and move it to the appropriate budget
- Submit a JEM (Journal Entry Modification)
- Instructions here
Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽
This is likely a typo in your tracker - check your receipts. If staff made a mistake and someone is owed additional reimbursement, create a new transaction to correct the mistake (JEM, submitting receipt again for missed funds, etc).
Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽
This is likely an expense a BLT member forgot to add to the tracker - check with BLT to confirm. Someone also could have sent something to your chartfield by mistake. Determine the source and submit a JEM to the correct chartfield.
Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽
This expense may not have appeared yet on a PCard statement, or has not been submitted by BLT. Look at purchase type to determine next steps. BLT also could have sent this expense to someone else’s chartfield by mistake. Determine the source and submit a JEM to the correct chartfield.
Timeline: Expenses and Reconciliation
- Most purchases* submitted in a month will appear on the next FAME report.
- For example:
- An online reimbursement or an i-Buy purchase is submitted and approved on Feb 1st.
- The purchase (and most other purchases* made during February) are reflected on the February FAME report, sent around Mar 20th.
*Does not include Purchasing Card (PCard) purchases
Timeline: *PCards* and Reconciliation
- PCard purchases take an extra month to appear on a FAME report.
- For example:
- An RHAD makes a purchase on Feb 1st.
- Purchase registers in Concur on Feb 5th.
- Purchase (and all other Feb purchases) is expensed by the RHAD in Concur and submitted by Mar 6th (monthly deadline set by NYU Finance Office, cannot be submitted earlier than 4th).
- Concur is reviewed and approved by Finance Office in March, thereby ending up on the Mar FAME report sent around Apr 20th (even though the expense was in February).
Personal Reflection Questions
- What is something about your hall you think others in the area should know about?
- What is an area of your job that you think others in the area should know about?
- What is something in your hall that you are proud of?
- What is something in your hall that you are looking to improve upon?
Positional discussion questions
- Share at least two of your responses to the personal reflection questions with your group
- Start Stop Continue - Discuss and write down your thoughts about what we would start doing, stop doing, or continue doing with the Hall Showcases this year
Residential Life & Housing Services
Professional Staff Onboarding & Training
Budgets in Practice: A guide for budget management Will McGrath at wcm233@nyu.edu
half wall
Front door
Cubbies
Programming
Type of Expenses:
Hall-wide events and programs Hall Council events and programs RA floor programs Resource Center programs
Team Meals
Types of Expenses:
Training meals (Aug, Jan, May) @Home Holiday Meal Reimbursements (when dining halls are closed) Move-In Days (breakfast and/or lunch)
ALLOCATIONS
Committees
Spending that supports a committee's work and their department-wide initiatives (conference funding, prizes, programming, etc)
ALLOCATIONS
Hall Staff
Spending that takes place in the residence hall for students, paraprofessionals, or administrative areas.
Student Employment
Type of Expenses:
Work Study (commonly known as 51118 or 118) Non-work Study (commonly known as 51119 or 119) Undergraduate and Graduate
Office Supplies
Types of Expenses:
Administrative (pens, notepads, staplers, sharpies, tape, etc) Bulletin Board/Programming (markers, blue tape, colored paper, dye cuts, butcher paper, etc) Student/staff printing (paper, toner)
allocations
Central Staff
Spending that takes place in operational areas (faculty, technology, furniture, etc) or centralized programming (Area funds, Wellness Grants, etc)
Staff Devo
Types of Expenses:
Recognition (prizes, awards, etc) SWAG (team t-shirts, hoodies, hats, mugs, etc) Team outings (taking your team out to the movies, Dave & Busters, etc) Team Birthdays (treats or gifts)
Budgets in Practice
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Transcript
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Residential Life & Housing Services
Residential Life & Housing Services
Professional Staff Onboarding & Training
Professional Staff Onboarding & Training
Budgets in Practice: Allocations & Chartfields
Budgets in Practice: Chartfields and Allocations
Budgets in Practice: Chartfields and Allocations
Budgets: RLHS
Budgets: RLHS
The (2) Senior Executive Directors each oversee different aspects of RLHS the budget.
Housing Services
Residential Life
Revenue
Expenses
$-$-$-$-$
Allocations (Expenses)
The RL Senior Executive Director establishes annual budgets for all areas. Designated staff oversee different areas of the budget - click each area to see more:
Committees
Central Staff
BLTs
Standard Budget Areas under BLTs
Programming
Office Supplies
Staff Development
Team Meals
Student Employment
$-$-$-$-$
Standard Budget Areas: A Breakdown
Chartfields
The university uses chartfields to hold funds that essentially operate as bank accounts
- Every purchase is assigned to one (or more) chartfields
- A chartfield is literally made up of a string of 22 numbers and letters, but broken down into distinct components
Examples:Gramercy Hall - Hall Council: 65182-10-07118-A0219-WSQPJ
FFIR Programs: 65182-16-07112-G0532-WSQPJ
Below is an example chartfield. Click on each section to learn more about each component.
65182-
10-
07118-
A0219-
WSQPJ
After reviewing each component, click here to move on
Example: 65182-10-07118-A0219-WSQPJ
Chartfields - Accounts
65186 - Team Meal Expenses (@Home meals, training meals) 65182 - Program Expenses (food, tickets, event supplies, etc.) 63110 - Office Supplies 65140 - Staff Development (awards, prizes, recognition) 51118 - Work Study 51119 - Non-Work Study Most Common Account Codes All Account Codes
Example: 65182-10-07118-A0219-WSQPJ
Chartfields - Accounts - *Concur
Expenses reconciled in Concur (covered in another training) do not allow you to choose an account code. Budget managers are expected to track and account for funds being spent that might appear under an unexpected Account code.
- Example: If you buy blue tape and submit for reimbursement in Concur, or try to reconcile it under a PCard, it will automatically be coded to “Painting Supplies" (64410) rather than "Office Supplies" (63110)
Internally, budget managers can either manually move these charges to the correct account (using a JEM, covered in another training), or leave the charge under the unexpected account code while tracking it locally on their budget tracker. Both of these methods are acceptable.Concur
Example: 65182-10-07118-A0219-WSQPJ
Chartfields - Fund
10 - Non-discretionary (student approval required) - exclusively hall council 16 - Discretionary (no student input needed) - department operating expenses
Chartfields - Org
07117 – FYRE (Reslife Area 1 - primarily FYRE halls) 07118 – 4Y/UY (Reslife Area 2 - primarily UY and owned properties) 07121 – Leased (Reslife Area 3 - primarily UY and leased properties) 07112 – Faculty Programming 07100 – Central staff administration (all other areas, committees, etc)
Example: 65182-10-07118-A0219-WSQPJ
Chartfields - Program
All program codes for specific halls start with an “A”: A0219 - Gramercy Hall A0222 - Founders Hall A0352 - Greenwich Hall
Program codes for non-hall or multi-hall areas start with a “G”: G0528 - RLHS Central Administration G0537 - FYRE G0532 - Faculty Programs
Chartfields - Project
Project codes are assigned to specific campuses. RLHS typically uses the Washington Square Park designation: “WSQPJ”
Chartfields: 65182-10-07118-A0219-WSQPJ
Programming
Hall Council
UY/4Y Area
Gramercy Hall
NYC Campus
Chartfields: 65182-10-07118-A0232-WSQPJ
Programming
Hall Council
UY/4Y Area
Othmer Hall
NYC Campus
Chartfields: 65182-10-07121-A0363-WSQPJ
Programming
Hall Council
Leased Area
Coral Hall
NYC Campus
Chartfields: 65182-16-07121-A0363-WSQPJ
Programming
Discretionary
Leased Area
Coral Hall
NYC Campus
All RLHS Chartfields
Click here to see
Goal: Be fiscally responsible with funds, but spend your money!
What happens to unspent funds?
What happens if I overspend in a chartfield?
Fiscal Year vs. Academic Calendar
$-$-$-$-$
In-Hall Staff Chartfield Management
RHD - overseer of all budgets
- Programming
- Staff Devo
- Office Supply
RHAD- Hall Council
- Programming
- Team Meals budget
RHRMExample Combined RHD/RHAD Budget Tracker
Non In-Hall Staff & Chartfield Management
NEW PRESENTATION?
Residential Life & Housing Services
Professional Staff Onboarding & Training
Budgets in Practice: Budget Management & Tracking
In-Hall Staff Chartfield Management
RHD - overseer of all budgets
- Programming
- Staff Devo
- Office Supply
RHAD- Hall Council
- Programming
- Team Meals budget
RHRMExample Combined RHD/RHAD Budget Tracker
Managing your Budget - Allocating
Managing your Budget - Allocating
50% 15% for CDP/all-hall programs 15% 20%
Managing your Budget - Allocating
70% 10% for CDP/all-hall programs 10% 10%
Managing your Budget - Tracking
Managing your Budget - iBuy Marketplace
Managing your Budget - iBuy Marketplace
1 transaction, but 3 entries
Note iBuy #
Note item purchased
Amount spent on item
Managing your Budget - iBuy Marketplace
Managing your Budget - PCard
Managing your Budget - JEM
Managing your Budget - JEM
Managing your Budget - Online Reimbursements
NEW PRESENTATION?
Residential Life & Housing Services
Professional Staff Onboarding & Training
Budgets in Practice: Budget Reconciliation
FAME Reports
FAME Reports (continued)
Distributed Monthly
- Shared around the 20th of each month detailing the preceding month’s purchases (Feb FAME received in Mar, Mar FAME in Apr, etc.)
- Admin Aide emails a monthly report to each building alias
2 types of FAME reportsColumn Descriptions:
A: Original budget B: Adjustments based on need C: Amount spent this month D: Amount spent since September 1st E: Irrelevant
F/G: Money committed for a project or purchase (back-ordered office supply, purchase orders for future events, etc), but not yet spent H: Irrelevant I: Amount left in budget at time of report
Column Descriptions:
Description: expense as typed by the RHAD (if PCard), “OTHR” if Online Reimbursement, or description provided by a vendor (anything ordered in iBuy - Amazon, WB Mason, etc)
Journal Date: Date it hit the budget Source, Jnrl Ref/PO…: Tells us where the receipt was processed (AP for AP Workflow, iB0044…for iBuy, etc)
Column Descriptions:
Vendor: The card number of the PCard, if iBuy it will tell you the vendor name,
Amount posted: Amount of expense Encumbrance: Ordered an item, but haven’t yet been charged for it (backorder, out of stock, etc)
SHOW THE PRACTICAL WAY YOU RECONCILE THE BUDGET
ASKED TO SHOW EXAMPLE OF HOW TO RECONCILE A BUDGET
Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽Budget Reconciliation…that doesn’t look right?!
Possible/Common Budget Issues:
Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽This is likely a typo in your tracker - check your receipts. If staff made a mistake and someone is owed additional reimbursement, create a new transaction to correct the mistake (JEM, submitting receipt again for missed funds, etc).
Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽This is likely an expense a BLT member forgot to add to the tracker - check with BLT to confirm. Someone also could have sent something to your chartfield by mistake. Determine the source and submit a JEM to the correct chartfield.
Budget Reconciliation
- Reconciliation means you will go through your Detail Report and should be matching each expense listed against your budget tracking document, and they should line up exactly (for each expense in your budget tracker, there is a matching expense in the Detail Report, and vice versa).
Detail Report Budget Tracker $165.00 $165.00 ✅ $24.99 $24.99 ✅ $34.53 $34.53 ✅ $20.00 $30.00 ⮽ $117.40 [not listed in tracker] ⮽ [not in Detail Report] $15.42 ⮽This expense may not have appeared yet on a PCard statement, or has not been submitted by BLT. Look at purchase type to determine next steps. BLT also could have sent this expense to someone else’s chartfield by mistake. Determine the source and submit a JEM to the correct chartfield.
Timeline: Expenses and Reconciliation
*Does not include Purchasing Card (PCard) purchases
Timeline: *PCards* and Reconciliation
Personal Reflection Questions
Positional discussion questions
Residential Life & Housing Services
Professional Staff Onboarding & Training
Budgets in Practice: A guide for budget management Will McGrath at wcm233@nyu.edu
half wall
Front door
Cubbies
Programming
Type of Expenses:
Hall-wide events and programs Hall Council events and programs RA floor programs Resource Center programs
Team Meals
Types of Expenses:
Training meals (Aug, Jan, May) @Home Holiday Meal Reimbursements (when dining halls are closed) Move-In Days (breakfast and/or lunch)
ALLOCATIONS
Committees
Spending that supports a committee's work and their department-wide initiatives (conference funding, prizes, programming, etc)
ALLOCATIONS
Hall Staff
Spending that takes place in the residence hall for students, paraprofessionals, or administrative areas.
Student Employment
Type of Expenses:
Work Study (commonly known as 51118 or 118) Non-work Study (commonly known as 51119 or 119) Undergraduate and Graduate
Office Supplies
Types of Expenses:
Administrative (pens, notepads, staplers, sharpies, tape, etc) Bulletin Board/Programming (markers, blue tape, colored paper, dye cuts, butcher paper, etc) Student/staff printing (paper, toner)
allocations
Central Staff
Spending that takes place in operational areas (faculty, technology, furniture, etc) or centralized programming (Area funds, Wellness Grants, etc)
Staff Devo
Types of Expenses:
Recognition (prizes, awards, etc) SWAG (team t-shirts, hoodies, hats, mugs, etc) Team outings (taking your team out to the movies, Dave & Busters, etc) Team Birthdays (treats or gifts)