The Accounting Office furnishes each department or cost center with two monthly financial reports reflecting the current status of that department.
G.A.S. 315
This report is a budget status report reflecting each transaction for each income or expense line item of the department. The report has four amount columns:
Budget Allocation
This column contains the original budget allocation and year-to-date budget transfers for each line item of the department. Budget transfers recorded during the month are reflected in detail, added to the beginning-month balance, and shown in the end-of-month balance for this column.
Outstanding Obligations
This column contains only the outstanding requisitions and purchase orders at the time the report is written. Each individual obligation is shown and the total represents the end-of-month balance for this column.
Income/Expense
This column reflects only "cash" items, i.e. income that has actually been received or expenses which have actually been paid. The beginning-of-the-month balance is the accumulated year-to-date amount of income/expense. Transactions during the month are shown in detail, added to the beginning-month balance and shown in the end-of-month balance for this column.
Unobligated Balance
This column, used only for expenditure line items, contains the balance or unexpended amount of the budget allocation. (Column #1 minus column #2 minus column #3)
Line item categories are ·grouped and sub-totaled, i.e. total income, total transfers, total expenditures. These sub-totals, in column #3, added together, equal the cash balance of the department. The cash balance is important only to Local fund departments. General Revenue departments should ignore the computed cash balance figure since income is not directly allocated to General Revenue departments.
G.A.S. 310
This report is a one-page summary of G.A.S. 315 and reflects only the end-of-month balances by line item. It follows the same format as the previous report and is written only for the purpose of condensing the detail report.
Departments should use these reports to verify their own bookkeeping systems. Any errors and discrepancies should be immediately reported to the Accounting Office.
Reports are sent to the departments on a monthly basis. If more current information is needed, the department may call the Accounting Office to obtain current balances of either budgets or open purchase orders.