Accounting and Safeguarding of Assets
40.02 Monthly Financial Statements Issued: May 15, 1998
1. The monthly departmental financial statements from FAMIS consist of the following:
1.1 The Subsidiary Ledger Account Summary (Summary Statement) gives an
account summary of revenues, expenditures, encumbrances and available balance.
1.2 The Open Commitment Status Report (Encumbrance Listing) lists current
encumbrances on the account.
1.3 The Subsidiary Ledger Detail Transaction Report (Detail Transaction
Report) details all activity occurring in the account for the current month only.
2. Subsidiary Ledger Account Summary
2.1 Revenues (applies to local accounts only)
Original Income Budget The dollar amount that department is expected to earn.
This is used to support the expenditure budget.
Revised Income Budget This reflects any changes made to original budget. The
Revised Budget column will pull from the revenue pool and apply it to the type of
Current Month This is the income earned on this account for the current month.
The current month revenue is detailed on the Subsidiary Ledger Detail Transaction
Report (Detail Transaction Report) which follows the Summary Statement.
Fiscal Year This is the income earned on the account for the fiscal year.
Balance Available This reflects the unrealized or over-realized estimated income.
In other words, if the dollar amount is negative, this reflects the dollar amount that the
department must raise to meet its estimated income budget. If the dollar amount is
positive, this reflects the dollar amount over the estimated income budget.
Generally speaking, there is only one budget pool titled "All Expense Pool". FAMIS
does have the capability for multiple expense pools to assist with budget control;
however, the University does not utilize this feature unless requested by a department
for a specific account. The dollar amount under the All Expense Pool will include all
budget line items (i.e. salary, wages, other operating expenses and capital outlay).
Original Expenditure Budget The original operating budget established for the
Revised Expenditure Budget This reflects any changes made to the original
expense budget, which includes carry-forward encumbrances, budget transfers,
budget increases, and budget reductions. The Revised Budget column will pull from
the all Expense Pool and apply the funds to whatever subcode a transaction was paid
or encumbered on. The revised budget indicated for the All Expense Pool reflects the
Current Month These are the expenditures for the current month. The Detail
Transaction Report details the transactions making up these dollar amounts.
Fiscal Year These are the expenditures for the fiscal year. A Detail Transaction
Report that details the cumulative expenditures for the entire fiscal year is available.
Open Commitments These are the encumbrances currently outstanding summarized
by subcode. The Encumbrance listing, which follows, details these encumbrances.
Balance Available This reflects the unencumbered, unexpended balance. This is the
amount that has not been spent or committed (encumbered) to be spent.
3. Open Commitment Status Report
Encumbrances listed in this section are grouped by the subcode which they were assigned.
Subcodes are assigned by either the Purchasing Office, the Budget Office or the Restricted
Funds Office. This encumbrance listing lists only encumbrances that are outstanding at
month end or encumbrances that were carried forward from the prior month and completed
during this month. Encumbrances established and liquidated in the same month will not be
listed on this statement.
Original Amount This is the original amount of the encumbrance. For example, if an
encumbrance is set up at $100.00 then later increased by $50.00, it would appear on the
Encumbrance Listing Report as illustrated on Line 1 below. If an encumbrance is established
at $175.00 and then reduced by $75.00, it would be reflected as shown on Line 2 below.
Original Expenditures Adjustments Amount
Line 1 100.00 50.00 150.00
Line 2 175.00 (75.00) 100.00
Liquidating Expenditures This represents the amount paid on the encumbrance. If the
amount paid is different than the encumbered amount, this difference is either pulled out or
added back to the All Expense Pool. For example, if $200.00 is encumbered and the
amount paid is $225.00, an additional $25.00 will be pulled from the All Expense Pool. This
would be reflected as follows:
Original Expenditures Adjustments Amount
200.00 (225.00) 25.00 Completed
Adjustments This column will reflect any change to the original encumbrance amount as
discussed in the Original Amount and Liquidating Expenditure discussions. It would also
reflect the cancellation of an encumbrance.
Current This reflects the dollar amount of the outstanding encumbrance.
Note: Departments should periodically review their Encumbrance Listing to
determine whether all outstanding encumbrances are valid. If a department
wishes to cancel an encumbrance, the appropriate office (i.e. Purchasing,
Budget or Restricted Funds) should be contacted.
4. Subsidiary Ledger Detail Transaction Report
The Detail Transaction Report will list all transactions which occurred within the current
Budget Entries Budget entries appear only in this column. A positive number is an
increase, while a negative number is a decrease. Departments should verify these entries to
the Budget Transfer Requests and original operating budgets.
Current Rev/Exp This column will list all revenue and expenditure (by subcode) activity
occurring in the account during the current month.
Commitments This column will list all encumbrance activity for the current month. A
positive number in this column represents an encumbrance. A negative number represents an
Contact: Manager of Accounting
Was this information helpful? Provide Feedback or report broken links.