2010 Carry Forward Balance

Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
tylerchristensen
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Joined: Wed Nov 09, 2011 5:12 pm

2010 Carry Forward Balance

Postby tylerchristensen » Sun Nov 20, 2011 12:59 am

Our ward's Budget Allowance Summary Report shows a negative 2010 Carry Forward Balance however when I look at the Budget Allowance DETAIL report none of the subcategories has a negative starting amount nor does it have any previous activity. How can this be possible?

crislapi
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Location: USA

Postby crislapi » Mon Nov 21, 2011 10:27 am

The Budget Report only shows information from the selected year. Also, starting balances come from what you have entered in the view/edit budget screen. It does NOT show any carry forward balance (or any other transaction) from any other year. In fact, you cannot make the budget report span multiple fiscal years.

The budget allowance summary report, however, does show your carryover from the previous year. It this case, it sounds like you overspent your 2010 budget so started 2011 with a negative balance.

jdlessley
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Postby jdlessley » Mon Nov 21, 2011 12:25 pm

tylerchristensen wrote:Our ward's Budget Allowance Summary Report shows a negative 2010 Carry Forward Balance ...
As crislapi posted, your 2010 ward budget had a negative balance at year end.

tylerchristensen wrote:... however when I look at the Budget Allowance DETAIL report none of the subcategories has a negative starting amount ...
Each budget subcategory's balance is zeroed at year-end so that the new year starts out with each subcategory ready for a new budget allocation. Budget reports do not span fiscal years. The balance for the ward is the only amount carried forward from one year to the next. There is no balance carried forward for any budget subcategory.

tylerchristensen wrote:... nor does it have any previous activity. How can this be possible?
The Previous Activity column only comes into play when the report time period is only for a portion of the current year. For example you choose a custom date range of 1 April 2011 to today's date. The previous activity column will then show the resultant debits plus credits to each subcategory for the period not included. In this example the values displayed would be a sum total of all activity (debits plus credits) in each subcategory from 1 January 2011 to 31 March 2011. There is no data in the subcategories for the previous year since budget reports cannot span fiscal years.
JD Lessley
Have you tried finding your answer on the LDS.org Help Center page or the LDSTech wiki?

tylerchristensen
New Member
Posts: 24
Joined: Wed Nov 09, 2011 5:12 pm

Postby tylerchristensen » Mon Nov 21, 2011 5:33 pm

jdlessley,

Thank you for your helpful commments. I believe I understand the reports now and what needs to be done.

All the best!

Tyler Christensen


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