Budget Help

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
dguaton74
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Budget Help

Postby dguaton74 » Wed Jan 15, 2014 11:40 am

I am relatievly new to the role of finance clerk, and have never been trained on budget allocations etc. When I ran my year end budget reports for 2013 I can see many categories with balances, some that look like they are even from 2012 carryovers. So I tried to allocate expenses to these old budget items to "use" up those old funds. When my financial statement came out for December, it looks like I am now in the hole for the year 2013, and my 2014 first allocation is now reduced by that amount? The last budget report ran in mid December 2013, I had about 1000 total left in my various budget line items (YM, YW, etc), but now it looks like now only did the adjustments I made late in the year "double" dip the 2013 budget, I lost the carryover from 2013 and now start the year with a deficit? Where can I get some help? I have tried the old ward clerk, and have had no luck getting him to help, and I called the stake finance clark, and have yet to hear back from him. Any help? Or explanation? Thanks

eblood66
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Re: Budget Help

Postby eblood66 » Wed Jan 15, 2014 1:48 pm

dguaton74 wrote:I am relatievly new to the role of finance clerk, and have never been trained on budget allocations etc. When I ran my year end budget reports for 2013 I can see many categories with balances, some that look like they are even from 2012 carryovers. So I tried to allocate expenses to these old budget items to "use" up those old funds. When my financial statement came out for December, it looks like I am now in the hole for the year 2013, and my 2014 first allocation is now reduced by that amount? The last budget report ran in mid December 2013, I had about 1000 total left in my various budget line items (YM, YW, etc), but now it looks like now only did the adjustments I made late in the year "double" dip the 2013 budget, I lost the carryover from 2013 and now start the year with a deficit? Where can I get some help? I have tried the old ward clerk, and have had no luck getting him to help, and I called the stake finance clark, and have yet to hear back from him. Any help? Or explanation? Thanks

What exactly did you do when you 'allocated expenses' to the budgets? Were these new checks? Where they transfers from other accounts? If so, from what accounts?

dguaton74
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Re: Budget Help

Postby dguaton74 » Wed Jan 15, 2014 4:27 pm

I had some budget line items that were negative, for example, Ward Christmas Dinner was negative 400 for the year, but I had a positive balance in another budget line, so ai went in and edited the expense and assigned it from the ward dinner budget to the other budget line item that had a balance remaining to "use" those funds. But it looks like it had the opposite effect and double dipped the expense? Many of the budget line items have balances on them which I assume are from previous years, but they show a balance in them in my 2013 budget report, so I tried to assign expenses to them in an effort to erase any accounts that were negative, but this seems to have made a big mess of things and now it seems like I have not only lost my carryover, I start the year off in the hole?

eblood66
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Re: Budget Help

Postby eblood66 » Wed Jan 15, 2014 7:03 pm

dguaton74 wrote:I had some budget line items that were negative, for example, Ward Christmas Dinner was negative 400 for the year, but I had a positive balance in another budget line, so ai went in and edited the expense and assigned it from the ward dinner budget to the other budget line item that had a balance remaining to "use" those funds. But it looks like it had the opposite effect and double dipped the expense? Many of the budget line items have balances on them which I assume are from previous years, but they show a balance in them in my 2013 budget report, so I tried to assign expenses to them in an effort to erase any accounts that were negative, but this seems to have made a big mess of things and now it seems like I have not only lost my carryover, I start the year off in the hole?

You're profile doesn't say what country you're in. In the US and Canada at least, the budget categories all get reset to 0 at the beginning of each year. However, if you had a balance or deficit OVERALL then that will change how much you'll have available to use in the budget the next year. Making adjustments between different budget categories won't change that amount.

If you're in some other part of the world, it's possible that things work differently.

If you are in US or Canada, the first thing I would do is to view the Budget Allowance Summary Report for 2013:

  1. On the Finances panel, click More.
  2. On the Budget panel, click Budget Report.
  3. In the Type field, select Summary.
  4. In the Date Range field, select Previous Year.
  5. To view the report, click Preview.
At the bottom of this report it will show you the balance at the end of 2012, the amounts of your budget allowances during the year, the amount you spent during the year and your balance at the end of 2013. This will tell you what the situation was at the end of the year.

Then look at the same report for the current year. It should be blank except for the balance from 2013, the first quarterly allowance and any expenses that have happened so far this year. Then you need to estimate how much you'll get for the next 3 quarters. The easiest thing is to assume the amounts will be the same as last year unless the size of your unit has changed significantly. Add those estimates to the 1st quarter allocation and the 2013 balance and that will tell you how much you have to use in 2014. You then need to work with the bishopric to determine how much to budget for each category. When you figure that out you go to Edit/View Budget and enter those amounts.

Only after all that will you really know what your 2014 budget situation is really like.

russellhltn
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Re: Budget Help

Postby russellhltn » Wed Jan 15, 2014 7:19 pm

I really haven't kept up with the new system, but I did want to make one mention.

There are two things you may be looking at. First, there's income/expense reports. They shows how much budget money you really have. (Much like a checking account) Then there's the budget itself which shows how much has been allocated to each category but isn't really money - it's a goal. (Much like a household budget.)

Expenses show in both reports. But the end "totals" are different for each type of report. And the way money carries over between years is different as well.
Have you searched the Wiki?
Try using a Google search by adding "site:tech.lds.org/wiki" to the search criteria.

eblood66
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Re: Budget Help

Postby eblood66 » Wed Jan 15, 2014 7:24 pm

russellhltn wrote:There are two things you may be looking at. First, there's income/expense reports. They shows how much budget money you really have.

Actually, those aren't available for budget categories any more.

russellhltn wrote:Then there's the budget itself which shows how much has been allocated to each category but isn't really money - it's a goal. (Much like a household budget.)

That's the only report available now for budget categories.

jdlessley
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Re: Budget Help

Postby jdlessley » Wed Jan 15, 2014 7:43 pm

eblood66 wrote:
russellhltn wrote:There are two things you may be looking at. First, there's income/expense reports. They shows how much budget money you really have.

Actually, those aren't available for budget categories any more.

A budget report titled "Budget Allowance Summary Report" using the Income and Expense Report is available. To get that report go to the Income and Expense Report and select "Summary by Subcategory" in the Report dropdown on the top right of the Income and Expense Report page. Now click the "Budget Report" button at the bottom of the page.
JD Lessley
Have you tried finding your answer on the LDS.org Help Center page or the LDSTech wiki?

eblood66
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Re: Budget Help

Postby eblood66 » Wed Jan 15, 2014 10:23 pm

jdlessley wrote:
eblood66 wrote:
russellhltn wrote:There are two things you may be looking at. First, there's income/expense reports. They shows how much budget money you really have.

Actually, those aren't available for budget categories any more.

A budget report titled "Budget Allowance Summary Report" using the Income and Expense Report is available. To get that report go to the Income and Expense Report and select "Summary by Subcategory" in the Report dropdown on the top right of the Income and Expense Report page. Now click the "Budget Report" button at the bottom of the page.

That's the same report I recommended in my initial response. This is just a different path to the report. It isn't actually an Income and Expense Report but it is the one place that any balance from the previous year shows up.

dguaton74
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Re: Budget Help

Postby dguaton74 » Thu Jan 16, 2014 8:55 am

So if I undersdtand the last few strings, the Goal budgets that I was going off of, may not have been "real" money, just allocated funds that didn't really exist? Why would the syetm allow the previous clerk to allocate funds that didn't exist? If that is the case I have some exlpaining to do to the auxilliaries... Is there a number to call in the evenings or on Sundays to get some help while I am on the PC and in MLS? THnaks for all your help. Ive learned more in 1 day than in the last year...

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aebrown
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Re: Budget Help

Postby aebrown » Thu Jan 16, 2014 9:08 am

dguaton74 wrote:So if I undersdtand the last few strings, the Goal budgets that I was going off of, may not have been "real" money, just allocated funds that didn't really exist? Why would the syetm allow the previous clerk to allocate funds that didn't exist? If that is the case I have some exlpaining to do to the auxilliaries... Is there a number to call in the evenings or on Sundays to get some help while I am on the PC and in MLS? THnaks for all your help. Ive learned more in 1 day than in the last year...

With Budget, it's important to understand the distinction between two sets of numbers:
  • The amount of money remaining in the assigned budget. If you look in the Budget Summary Report, this will be the "Total" figure at the bottom of the column labeled "Assigned Budget Balance." It represents the difference between the amounts your ward/stake entered in the View/Edit Budget screen, and the net effect of the income, expenses, and transfers. I find it helpful to think of this top portion of the Budget Summary Report as our unit's "operating budget."
  • The actual amount of money sitting in your budget category. This amount is shown on the Budget Summary Report at the bottom in the row labeled "Actual Available Budget." This may be quite different from your Assigned Budget Balance Total.
As you close out one fiscal year and move to the new year, it's the Actual Available Budget from the end of the old year that becomes the Carry Forward Balance for the beginning of the new year. The individual (or even the total) balances in the Assigned Budget Balance column have no effect whatsoever on the new year, so there's no point in trying to adjust them at year end.


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