Understanding Budget Operations

Under NUFinancials, approvals that previously ran through the Budget Office are now on a self-service basis. All budget journals processed through the Portal are routed through workflow for approval by your Business Manager or Dean's Office. Budget journals greater than $50,000 will be sent to the Budget Office for additional approval.

Actuals journals entered in the Portal will be routed to Accounting Services and not to the Budget Office. Please see the Financial Policies and Procedures website for more information.

We encourage schools and units to be in regular contact with the Budget Analyst for questions relating to budget policies and procedures under NUFinancials. For a listing of Budget analyst assignments please click here.

Budget Guidelines Under NUFinancials

1) Chartstring Review

(For more details please see the Chart of Accounts Quick Reference Guide)

ChartFields that make up a Chartstring:

2) Spending Controls

  • For all funds, except plant, the size of the budget does not limit spending; only the presence of a budget is required.
  • Spending will be controlled by the following rule:
    • In order to spend on salary, there must be a salary budget.
    • In order to spend on non-salary, there must be a non-salary budget.
    • Any revenue deposited into a designated chartstring will increase authority to spend by the amount of the revenue.

      ** Once a budget is established ALL Account codes (formerly object codes) will be open in NUFinancials **

3) Where Budgets Reside

  • Parent Budgets vs. Child Budgets
    • Parent Budgets: Certain Account codes are "budget only" codes (no spending can take place on them) - similar to Object and Revenue Class in CUFS.
    • Child Budgets: Detailed budgets will reside on individual account codes where spending will occur.

4) ChartField Maintenance

  • The opening/closing of chartstrings and ongoing chartfield maintenance is moving to the Controller's Office. This will include activating and deactivating DeptID, ProjectID, Program and Account ChartFields. For more information please visit the ChartField Maintenance website.

5) Budget Journals - Making Budget Changes

  • Budget Journals replaced RBACs and TVs.
    • You may use this Budget Journal Template to assist you when creating budget journals. This is an optional worksheet for your use only and does not need to be submitted to the Budget Office.
  • Most Budget Journals will be initiated by each department via the NUPortal and will be routed through workflow for approval.
    • If you do not have access to the NUPortal please contact your Dean's Office or Business Manager.
  • Any budget change greater than $50K will require approval from the Budget Office.
  • Office of Sponsored Research will handle grant budget adjustments.
  • Rules - Budget adjustments can be made:
    • Within Fund 110
    • Within Fund 171
    • Between Fund 110 and 171
    • Within other funds (Gift, Endowment, Recharge, Auxiliary, Self-Supporting)

6) Actuals Journals

  • Actuals Journals replaced RACs, IVs and JVs.
  • Most Actuals Journals will be initiated by each department via the NUPortal and will be routed through workflow for approval.

    **For more information on how to use the NUPortal please see Project Cafe Training Materials**

7) Reporting

Commonly Used Reports:

Old Report Name (CUFS) New Report Name (Cognos)
FM160 - CUFS Monthly Budget Summary GL005 - Summary Budget Status
FM162 - CUFS Detailed Monthly Budget Statement GL008 - Revenue and Expense Activity Report
NB46 - Current Funds Unrestricted Closing Report GL068 - Financial Summary
NG32 - CUFS Monthly Sponsored Project Summary GM045 - Sponsored Project Budget Statement
None FM008 - Job Cost FAMIS Billing Summary

8) Carry-forwards

  • The ground rules for carry-forwards from FY 2008 will be the same as in the past except that where carry-forwards are posted to individual accounts they will appear as expense budgets (positive or negative) on account code 79999. For more information please contact the Budget Office.
  • Moving funds from a carry-forward account to a non-carryforward account (for example, moving funds from 79999 to 73010-Paper and Office Supplies) is not allowed. Such adjustments create problems with University-wide reporting and analyses.
  • Moving carryforward funds between funds 110,171, and 172 (on the carryforward account code) is allowed, if necessary. Please check with your budget analyst before initiating such an adjustment to your carryforward balance.

9) Click here for FAQs from the Budget Office Transition Workshop

10) Capital Projects

11) Help Desk

  • For technical assistance please contact the Help Desk at 1-HELP (847-491-4357) option #2.