TERM |
DEFINITION |
Account Type |
A logical classification of accounts with similar characteristics or uses,
such as assets, liabilities, equity, revenue, and expenses. Account types used
for budget development are: expenses (type 1), labor (type 2), and revenue
(type 3). |
Adopted Budget |
The original budget amount from the previous fiscal year. |
Base Budget |
The previous year's original budget plus all permanent (recurring) adjustments. |
Budget Development |
A Web-based application for viewing and entering the new fiscal year's budgets
in a distributed setting. |
Budget ID |
Unique identifier for a chart's budget phase. |
Budget Line Table |
The database table used to hold all budget development data until all budgets
are completed. Once budgets are complete, data from this table is prepared
and rolled to the Operating Ledger as adopted budget amounts. |
Budget Phase |
Unique identifier for a budget's set of records. For the University of Illinois
there is only one phase per budget ID. |
Budget Queries |
Web-based tool for querying the current operating ledger for budget-related
information. |
Calculate |
To temporarily compute a change for the current Budget Worksheet session.
Unposted calculated changes are lost when you requery or exit. |
Campus Indicator |
The campus indicator refers to the first digit of a Term, Detail Code, Category
Code or Third Party Sponsor Billing Contact number. There are two types of
indicators. In the Student System: 1 = Champaign Urbana, 2 = Chicago and 4
= Springfield. In the Finance System: U = Champaign Urbana, C = Chicago, S
= Springfield. |
Chart |
A one-digit code for a campus or major accounting entity, used to facilitate
financial reporting. |
Cumulative Change |
The running sum of all increases and decreases to a line item during budget
development. |
Data-Entry Code |
A characteristic of a FOAPAL code that can be used in a financial transaction
that is posted to the appropriate ledger(s). Budget line items use data entry
codes, and are rolled to the operating ledger as journal vouchers for an adopted
budget. |
FOAPAL (or C-FOAPAL) |
Chart, Fund, Organization, Account, Program, Activity, and Location are the
seven components that represent the new Chart of Account (COA) structure. |
Lock |
A setting that a higher-level organization uses to prevent users in lower-level
organizations from changing their budgets. |
New Budget |
The amount calculated temporarily in this session. |
Permanent Budget |
The total amount for all recurring budget adjustments for the previous fiscal
year. |
Post |
To permanently compute a change on the Budget Worksheet. Posted changes are
saved when you requery or exit. |
Proposed Budget |
The amount planned for the next year, as entered. The proposed amount is
(eventually) posted to the operating ledger. |
Requery |
A function used to resubmit the Budget Worksheet query, which clears any
unposted changes from the Worksheet. |
Roll-Up Code |
A characteristic of a FOAPAL code that is used only to aggregate information
about lower-level entities in a hierarchy, for reporting purposes. A roll-up
FOAPAL code cannot be used in a financial transaction that is posted to a ledger. |
Unlock |
A setting in Budget Development that permits authorized users to post changes
to an organization's new fiscal year budget. |
Web for Finance |
A web-based enterprise application for performing Banner tasks. |