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Budget Rolled Forward on Multi-Year Life-to-Date Fund Accounts
Budget Rolled Forward on Multi-Year Life-to-Date Fund Accounts
Description of Issue
- Why did positive or negative budget amounts roll forward on Account(s)
- Prior year available budget shows as current year original budget without manually posting a Budget Completion Journal (BUC)
Context
- General Ledger
Cause
Fund is defined as Multi-Year Life-To-Date (MY LTD) and is working as designed.
Resolution
- Enter a Budget Transfer and Amendment (BUA) to adjust budget as needed.
- Fixing Current Year (CY) will update Account Inquiry Transfer In/Out updating Revised Budget and Available Budget would adjust accordingly
- Updates to prior year with BUA periods 1-12 would automatically roll forward adjusted available budget amount to CY triggering a Budget Completion Journal (BUC) original budget
- NOTE: MY LTD funds will not allow BUA posted prior to initial established Budget. Established Budget is equal to first date/period of initial BUC/BUA posted to account.
Additional Information
- If the fund type is incorrectly setup in Chart of Account Segments Munis Financial General Ledger Support to obtain a fund change request form and to review how many year end closures fund has been though.