a summary budget report is often the go-to report in this process, as it provides the current balance and/or financial picture of a grant or other budget-driven funding source. let’s discuss the primary components of a budget summary report and how to interpret the information. when you’re reading a budget report, focus on three key numbers in the financial summary: the overall balance, the direct cost balance, and the balance of the salary and benefits categories. the balance of the salary and benefits categories should always be zero. at the very beginning of the budget cycle, before funded work starts, there are no payroll expenditures and the balance of the personnel categories will equal the budget of these categories. if the salary distributions of the employees used to generate the projections match the original plan or budget, then the balance (budget minus projected encumbrances) will be zero. in theory, the balance should still be zero.
a positive balance indicates underspending in the personnel categories. in many cases, the personnel categories are the biggest part of a budget: about 70%-80% of the award budget. that’s why the personnel categories tend to be the hardest part of a budget to manage. when the personnel balance isn’t zero, start with the summary of the personnel records to identify the problem. this section provides lists of the employees and their rate of pay on the funding source. the personnel components of a budget can be the most important. in a nutshell, the budget report is a helpful and useful report partially because it includes the following in an easy-to-read format:
the budget summary includes budgeted amounts, encumbrances, transaction totals, and budget balances and is the online equivalent to the printed bsr. open balances are outstanding commitments on a budget for orders or contracts placed through the ariba system (eprocurement). if there was activity in an account code during the reporting period, the account code and description will be blue links; click on these to see more detail in the transaction summary report. the budgeted amount column shows the amount originally budgeted by account code. to the right of the budgeted amount is the total prior transactions; this is the total amount spent, by account code, between the budget period start date and the beginning of the reporting period displayed. encumbrances may be included or excluded in the remaining amount by clicking on the “include encumbrances” checkbox. open balances also has the ability to be included or excluded in the remaining amount by clicking on a new “include open balances” checkbox.
for grant budgets the “activity to date” option is available; for state budgets, the “fiscal year” and “biennium” options are available. budget balances are located on the budget summary, but are found in slightly different places for state or grant budgets than for revenue-generating budgets. there are different ways of managing these types of budgets that may affect how this report can be read and consequently, where the budget balance is located. use of this column will affect how the budget balance is seen on the report. if there is no budgeted amount in the cumulative net line, the budget balance is located in the cumulative net (income) or loss line under the remaining budgeted amount column. for these few budgets, the necessary course of action for identifying the budget balance is to speak with your budget administrator (or person in charge of budget revisions for your unit) about how these funds are used and managed within your department. important note: if your department does not need to use the budgeted amount column for self-sustaining budgets, and there are amounts displayed in that column, you may contact the office of planning and budgeting so they may assist you in making the necessary changes in the budget system (bgt).
this budget summary report template helps executive managers and finance teams assess key financial, operating, and competitive metrics as part of a monthly a summary budget report is often considered the “go to” report as it provides the current financial picture of a funding source in an easy-to-read format. a budget summary is a brief overview of a budget that provides only the main points or the important things to know. unlike the, budget analysis report example pdf, budget analysis report example pdf, budget summary template excel, budget report sample pdf, budget report template word.
this template helps executive managers and finance teams assess key financial, operating, and competitive metrics as part of a monthly performance review. the budget summary includes budgeted amounts, encumbrances, transaction totals, and budget balances and is the online equivalent to the printed bsr. the budget summary report provides a summary of your overall budget, or an additional budget you’ve created. you need the standard + all, sample budget report presentation, annual budget report sample, simple budget report sample, project budget summary template, monthly budget report template excel, how to write a budget summary, budget report template free, budget report of a company, budget summary 2022, budget report 2022.
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