Monitoring Your Budget

Monitoring Your Budget

Monitoring Your Budget Via Self-Service Finance

Overview

Self-Service Finance (Banner) is the system you will use to track your grant expenditures. By logging into Self-Service, you will be able to perform budget queries in order to track expenses and generate reports.

Accessing the Site

  • Log in to Kateway
  • Click on the "Campus Resources" tab
  • Click on "Visit Self-Service Finance" on the left side under "Finance and Accounting"

Performing a Budget Query

  • Click on “Budget Queries”
  • Create a new query by choosing "Budget Status by Account" from the drop down box then clicking "Create Query." This will provide the most detailed information about your budget and will allow you to customize your report.
  • Customize your report by selecting the fields you would like to view. The checked boxes below are essential!
Adopted Budget
Year to Date
Budget Adjustment
Encumbrances
Adjusted Budget
Reservations
Temporary Budget
Commitments
Accounted Budget
Available Balance
  • Click "Continue" once you have chosen your fields.
  • Enter the following information:

    Tip: The easiest way to keep in mind what year to enter is to think of the current school year (2008-2009) and then enter the LAST of the two years as the Fiscal Year.

    Fiscal Period:
    These numbers correspond to the June-May fiscal year; therefore June is #1 and May is #12. If it is November of 2008 and you only want to see the expenditures up through September, you would enter 04 as the Fiscal Period and 2009 as the Fiscal Year.

    Tip: Always enter “12” as the Fiscal Period for a “Year-to-Date” report.

      Fiscal Year:
      Make Sure to Enter the Correct Fiscal Year! Keep in mind that St. Kate's Fiscal Year ends May 31, with a new Fiscal Year beginning June 1. This means that the current calendar year is not necessarily the same as the Fiscal Year. If, for example, you are performing a budget query in September of 2008, you are in the 2009 Fiscal Year and should enter “2009” as the Fiscal Year. If you enter the current year, 2008, as the Fiscal Year, you will see the PREVIOUS YEAR’S expense report.
June = 01
July = 02
August = 03
Sept. = 04
Oct. = 05
Nov. = 06
Dec. = 07
Jan. = 08
Feb. = 09
March = 10
April = 11
May = 12
  • Comparison Fiscal Year/Period: None. This box allows you to compare year to year or period to period.

    Commitment Type: All

    Chart of Accounts: This is the official chart of all funds, organizations, accounts, and programs. The field should always contain the letter “K.”

    Fund/Organization: You must always enter your Fund and Organization in order to perform a budget query.

    Account: Check to make sure this field is blank; if you enter an account number, you will see only that account. For example, if you enter 72119 you will see your supply expenses but not your hospitality expenses.

    Check the “Include Revenue Accounts” box to report revenue as well as expenditures.

    All other fields should be left blank.

    SAMPLE:

    Fiscal year: Fiscal period:
    Comparison Fiscal year: Comparison Fiscal period:
    Commitment Type:
    Include Revenue Accounts
    • Click "Submit Query" after verifying all your fields contain the right data

    Understanding Your Budget Query Report

    You will see your Query results in a table.

    Account FY08
    Adopted Budget
    FY08
    Accounted Budget
    FY08
    Year to Date
    FY08 Encumbrances FY08
    Available Balance

    The Account field will tell you the categories into which particular expenses fell (supplies, hospitality, travel, etc).

    The Year to Date field will show you expenses that have been processed.
    The Encumbrances field will show expenses that are in process (an example is a check that is cut but not cashed).

    Because of the way Banner has been set up, you may not see any values within the "Adopted Budget" or "Accounted Budget" fields as these fields are not always active. Keep in mind that if no budget has been entered, the "Available Balance" will appear negative (in parenthesis) as every expense will subtract down from zero. Keep a spreadsheet to track your expenses and reconcile your spreadsheet using Self-Service Finance. Use Self-Service Finance to "balance" your spreadsheet, much as you would your personal checking account.

    You will be able to click on an expenditure to "drill down" for additional information such as the transaction date, the name of the vendor to which the amount was paid, the name of the person who requested the expenditure etc. Note that as you are drilling down, you will be able to click on a field called "Document Code." This code is linked to the particular type of expense rather than your budget, so you may see a list of expenses tied to different banner numbers if you drill down into this field. Simply disregard.

    If you have any difficulty accessing your budget via Self-Service or understanding your Budget Query, or if you uncover any discrepancies, please contact ORSP.