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#314 Board of Directors Reports
Function
The Board of Directors’ Reports supplement is a series of three different reports.
To setup Balance Sheet/Cost Categories setup visit Balance Sheet/Cost Category Setup
Project Financial Report
The Project Financial Report lists each project’s total expenditures identifying the budgeted, current month and project total amounts, comparison of actual cost to budget, and the percent of the budget spent. It also lists total receipts for each project and the balance of revenues less expenditures. It is a great presentation of each project’s status since it reflects the contract year.
Balance Sheet by Category
The Balance Sheet by Category allows you to create categories to group and summarize balance sheet accounts. It also takes the reconciling items and prints them under the liability section with the description “Cost Allocation Control”. Normally this amount should be the change in leave liability for the year.
Agencywide R & E by Category
The Agencywide R & E by Category allows you to create cost categories to combine specified revenue and expenditure codes. For each category, it lists the budget, current month, year-to-date, and comparison of actual to budget in dollars and percentage.
Things You Should Know
For Project Financial Report – You must first display the Revenue and Expenditure report by Element under Monthly Processing/Financial Reports to help assure correct information on this report.
For Balance Sheet - One user needs to display the Balance Sheet and Agencywide R&E under Monthly Processing/Financial Reports to help assure correct information on this report.
For Agencywide R&E by Category - You have to display the R&E by Element and Agencywide Revenue/Expense Report under Monthly Processing/Financial Reports to help assure correct information on this report. It will reflect the Agencywide budget entered and the answer to the Indirect detail question when you ran the Agencywide Revenue/Expense report.
Operating Instructions
Board of Directors’ Reports
Period
Displays the current period when the Agencywide R&E report was last prepared for the Board of Directors Reports. This period will be the date the financial reports were last prepared.
Project Financial Report
To print the Project Financial Report, click on that option and select Print. The report will be displayed. You may print or export the report.
Balance Sheet by Category
To print the Balance Sheet by Category, click on that option. You will then specify the format you wish to use for this report. At year end, if you have posted the entries to close all cost allocation control accounts and have checked the Year End check box on the Balance Sheet under Financial Reports, it will automatically be checked here.
With Category Detail - Check this box to have all Balance Sheet GL codes to print under each category.
Agencywide R&E by Category
To print the Agencywide R & E by Category, click on that option. You will then specify the format you wish to use for this report.
With Category Detail - Check this box to have all GL codes to print under each category.
The Board of Directors’ Reports supplement is a series of three different reports.
To setup Balance Sheet/Cost Categories setup visit Balance Sheet/Cost Category Setup
Project Financial Report
The Project Financial Report lists each project’s total expenditures identifying the budgeted, current month and project total amounts, comparison of actual cost to budget, and the percent of the budget spent. It also lists total receipts for each project and the balance of revenues less expenditures. It is a great presentation of each project’s status since it reflects the contract year.
Balance Sheet by Category
The Balance Sheet by Category allows you to create categories to group and summarize balance sheet accounts. It also takes the reconciling items and prints them under the liability section with the description “Cost Allocation Control”. Normally this amount should be the change in leave liability for the year.
- With Category Detail - Check this box to have all Balance Sheet GL codes to print under each category.
Agencywide R & E by Category
The Agencywide R & E by Category allows you to create cost categories to combine specified revenue and expenditure codes. For each category, it lists the budget, current month, year-to-date, and comparison of actual to budget in dollars and percentage.
- With Category Detail - Check this box to have all GL codes to print under each category.
Things You Should Know
For Project Financial Report – You must first display the Revenue and Expenditure report by Element under Monthly Processing/Financial Reports to help assure correct information on this report.
For Balance Sheet - One user needs to display the Balance Sheet and Agencywide R&E under Monthly Processing/Financial Reports to help assure correct information on this report.
For Agencywide R&E by Category - You have to display the R&E by Element and Agencywide Revenue/Expense Report under Monthly Processing/Financial Reports to help assure correct information on this report. It will reflect the Agencywide budget entered and the answer to the Indirect detail question when you ran the Agencywide Revenue/Expense report.
Operating Instructions
Board of Directors’ Reports
Period
Displays the current period when the Agencywide R&E report was last prepared for the Board of Directors Reports. This period will be the date the financial reports were last prepared.
Project Financial Report
To print the Project Financial Report, click on that option and select Print. The report will be displayed. You may print or export the report.
Balance Sheet by Category
To print the Balance Sheet by Category, click on that option. You will then specify the format you wish to use for this report. At year end, if you have posted the entries to close all cost allocation control accounts and have checked the Year End check box on the Balance Sheet under Financial Reports, it will automatically be checked here.
With Category Detail - Check this box to have all Balance Sheet GL codes to print under each category.
Agencywide R&E by Category
To print the Agencywide R & E by Category, click on that option. You will then specify the format you wish to use for this report.
With Category Detail - Check this box to have all GL codes to print under each category.
