Fund Balance by Fund Group Report
Prior to reading the instructions on the Fund Balance by Fund Group Report, it is beneficial to review the following sections of the IU Accounting Standards Book to gain foundational information along with report requirements and best practices:
- Accounting Fundamentals Section
- Chart of Accounts and General Ledger Section
- Financial Statements Section
The Fund Balance by Fund Group Report was introduced to help monitor, analyze and compare fund balance across all fund groups at Indiana University. The report is designed to allow comparative measurement and identification of fund balances at the department, responsibility center, and campus levels as well as to the consolidated university level on a fiscal year basis. If not managed properly, a unit’s fund balance can shrink or even end up in the negative. A low or negative fund balance can be an indicator that a unit is in financial turmoil. For more information on what makes up the fund balance from an accounting perspective, see the Balance Sheet standard in the accounting standards book
The Fund Balance by Fund Group Report is designed to show comparative fund balances for a desired fiscal year thru a specified fiscal period. Users also have the option to include the prior year fund balances for year over year comparison.
Each column on the report represents an individual fund group. If specific fund group(s) are provided as a parameter, only the specified fund group(s) will be displayed. Otherwise, all fund groups will be displayed.
The Fund Balance by Fund Group Report is made up of several essential transactions. It is important that users understand what each of these transactions represents. A brief description of what is included in each report line item is provided below:
- Fund Balance – This represents the opening balance as of July 1 pulled directly from the balance sheet for the periods selected.
- Operating Margin – This represents operating revenues less any operating expenses and is pulled directly from the income statement for the periods selected.
- Non-Operating Revenues – This represents revenues that have been incurred outside of the entity’s day-to-day activity and is pulled directly from the income statement for the periods selected.
- Non-Operating Expenses - This represents expenses that have been incurred outside of the entity’s day-to-day activity and is pulled directly from the income statement for the periods selected.
Note: If parameter ‘Sum Non-Operating Revenues/Expenses?’ is checked, Non-Operating Revenues and Expenses lines will be summed and displayed in the report as Non-Operating Margin.
- Net Transfer Income (Expense) – This represents the net of transfer income and expense incurred for the period, pulled directly from the income statement for the periods selected. This line item will only display in the report when the parameter ‘Exclude Transfers from Operating and Non-Operating Margins (Required for UCO closing materials)’ is checked.
- Net Capital Purchased and FB Offset – Due to the organizational structure of fund groups within IU, the offsetting entries used to make capital purchases are not recorded within the same fund group (typically the sale is recorded in a general or designated fund and the asset is recorded in the plant fund). This line represent the mismatch between the two fund groups to correctly record the entire purchase within one fund.
- Direct Hits to 9899 on JV Document – This is an entry done internally by UCO using a journal voucher (JV) document. Typically, these entries are done at the campus level.
- Direct Transfers to 9899 on Asset Transfer Document – This is an entry done internally by UCO using an asset transfer (AT) document. Typically, these entries are done at the campus level.
Define the search parameters to return results relevant to your organization or to a specific account. The search parameters available in the Fund Balance by Fund Group Report are divided into three parameter types: chart of account report parameters, report specific parameters and display parameters.
If there are questions related to running the report, requirements or reviewing results, please contact your (RC) fiscal officer or campus office. Each campus may have individual specific requirements related to the report. Be sure to reach out to the related campus office or fiscal officer prior to quarter closings.
General Notes: Do not include any special characters other than approved wildcards in any of the below parameters. Additionally, do not run reports by campus as it will take up valuable computing services.
Click Save Parameter Settings to save your parameters for future use of this report. For instructions on how to save settings, review the Save Parameter Settings document on the Controller’s Office Reporting Tools page.