Financial Services Division
Report Description
Report Name
Report Number
Department Head Monthly Review – Fund Balances
10780
Report Description/Purpose
This report provides a summary of all active funds in a department, sorted by individual
responsible for the project. It provides a summary of the actual financial activity on this
project since it began, as well as any commitments or advances to other institutions that
are currently outstanding. A calculated ‘balance available’ is provided for each fund.
Intended Audience
Department Heads, and those individuals who have been delegated authority to view
UniFi funds on their behalf.
Report Availability
This report is generated at the end of every month. Previous reports will be available
for the current fiscal year.
Report Elements
The department responsible for the funds is identified in the report header.
This report lists all active funds for the department identified in the report header, sorted
by financial manager. It provides the fund number, the fund description and the name
of the financial manager of the fund. Financial information related to each project is
summarized as follows:
Total Revenues Less Expenses – Provides totals for actual revenues and expenses
recorded in the identified fund, since the project began. This total should agree with the
total shown on the FAST ‘balance sheet’ as the fund balance (ie Total Control Accounts
plus Total Prior Year End Fund Balance).
Commitments – This amount represents outstanding purchase orders and should agree
with the ‘outstanding commitments’ shown on the FAST ‘operating’ statement as well
as the ‘research/project’ statement.
Advances to Other Institutions – This amount represents funding that has been
advanced to other institutions usually as part of a sub-grant arrangement. This amount
does not appear as an expense of the project until the other institution provides an
accounting of how they have spent the money. This amount should agree with the total
shown in account code 11006 on the FAST ‘balance sheet’.
Calculated Balance Available – This amount represents the uncommitted amount of
funding related to the project that is available to be spent. It is calculated as ‘total
revenues less expenses’ minus ‘commitments’ minus ‘advances to other institutions’.
Financial Services Division
Report Description
Additional Notes
This report should be reviewed monthly by the department head, with special attention
being paid to the comments on the right-hand side of the page.
A hard copy of this report should be printed and evidence of the monthly review should
be provided by completion of the highlighted section of the last page of this report. This
signed report should be retained within the department.