Edit Budget Window

Category

The code assigned to the budget category. The budget category defines the general fund category (used year after year) to which you can assign budget amounts for individual years (in the Fiscal Year Allocations group).

Enter the code you want to assign to the budget category. Enter a code that is short and easy to associate with the budget and that is consistent with other budget category codes you have defined. You can enter letters, numbers, or a combination of both. (Be aware that your library may have a certain format you need to follow.)

Take note:

The code that users enter to identify a budget on a PO line or statement is a combination of the budget category code and a fiscal year (defined in the Fiscal Year Allocations group).
You cannot change or delete the budget code if it is assigned to one or more PO lines.

Restrict to Authorized Users

Lets you restrict certain users from using the budget. If you mark this box, only the users you specify in the Authorized Users group (on the default page 2 of the Edit Budget window) are given access to the budget. If a user does not have access to a budget, the budget does not appear in the Code Lookup window that appears when the user clicks the Codes button next to the Budget field.

Mark this box if you want to restrict certain users from using the budget. Then enter the users you want to give access to the budget in the Authorized Users group (explained below).

Description

A description of the budget. If you want to show the hierarchical organization of your budgets, include each level of the hierarchy in the description, separated by a period (for example, “Books.Science.Biology). (For more information, Budget Hierarchy)

Accounting Reference

The reference or general ledger number assigned to the budget by your accounting department or funding agency. This number identifies the corresponding account in the funding agency’s accounting system that is used to pay for items charged to this library budget. If you use vouchers, these numbers are printed on the vouchers you send to your funding agency so they know which funds to use to pay for items.

Enter the reference number given to you by your funding agency for this budget.

Take note:

Depending on how your budgets and the funding agency’s accounts are set up, you may use a single reference number for all or several library budgets, or you may use a separate number for each library budget.

Inflation Factor %

The percentage you want the new fiscal year allocation amounts inflated or deflated. This percentage is marked up (or down) from the amounts of the fiscal year allocations you enter in the Year to Create From field in the Options for Creating New Fiscal Year Allocations window). (For more information on the Options for Creating New Fiscal Year Allocations, see Options for Creating New Fiscal Year Allocations Window.)

Enter the percent value (from -100 to 1 and upward; “0” means no change) of inflation you expect for this budget. This tells Horizon how much to inflate (or deflate) the budget amount when you batch create and establish the new amount for the next year.

Take note:

The percentage you enter here is used only for this fiscal year allocation.

Transfer Unspent %

The percentage of the unspent amount that you want to transfer to the next fiscal counterpart.

Enter the percent value (0 to 100) of this fiscal year allocation’s unspent amounts that you want to transfer over to the next fiscal year’s allocation.

Take note:

The percentage you enter here is used only for this fiscal year allocation.

Fiscal Year Allocations group

Defines the fund allocations for the budget for individual fiscal years. A fund allocation defines the amount of funds allocated to the budget for a fiscal year, along with the budget’s status, on-order amount, and spent amount for the fiscal year. The budgets that users enter on PO lines are a combination of the budget category code and a fiscal year (defined in this group).

To enter a fund allocation for a new year, click New. To display the fund allocation for another year, choose the year from the drop-down list. To delete a fund allocation, choose the year from the drop-down list and click Delete. (However, you cannot delete an allocation if it has been assigned to one or more PO lines, or to extra charges on a statement.)

Take note:

If you are creating an allocation for funds that are not tied to a specific year (such as a grant), enter an amount in the Amount field without entering a year in the Year field. The budget code that users assign to PO lines is the category code followed by a period, but no year (for example, “arthist.”).

Year

The fiscal year the fund allocation is for. To enter an allocation for a new year, click New. To display the fund allocation for another year, choose the year from the drop-down list. If the budget category is not associated with a fiscal year, leave this field blank.

Take note:

You cannot change the year if the budget as been assigned to one or more PO lines.

Status

The status of the budget. Here are explanations for each status:

Open. This status means the budget is available for both new and existing orders. It lets users order and invoice items against the budget up to the limits you enter in the On Order Limit and Spent Limit fields (explained below).
Frozen. This status means the budget is available for outstanding orders, but not new orders. It lets users enter an invoice for existing orders against the budget up to the limit defined in the Spent Limit field (explained below). However, it warns users when creating new orders against the budget. Users can override this warning only if their security settings allow it. Frozen budgets do not appear in Code Lookup windows; however, users can enter them on PO lines and statements if they know the budget code.
Closed. This status means the budget is no longer available. If users try to order or invoice items against the budget, Horizon warns them. Users can override this warning only if their security settings allow it. Closed budgets do not appear in Code Lookup windows; however, users can enter them on PO lines and invoices if they know the budget code.

Click the status you want to assign the budget.

Take note:

You can change the status of the budget to any other status. If you close a budget that has outstanding orders attached to it, a message appears alerting you of the outstanding orders.

Amount

The amount assigned to the budget. You can change this amount during the year to move funds from one budget to another.

Enter the amount of funds you want to allocate to the budget.

Take note:

Changing this amount may cause the on-order and spent amounts to exceed the limits defined in the Limit fields. If so, Horizon warns you when you try to save your changes.

On Order

The total amount of items currently on order against the budget. This amount is also referred to as the encumbered amount. It represents funds that have been committed, but not actually spent against the budget. Horizon updates this field automatically as items assigned to the budget are ordered, received, canceled, and invoiced.

Take note:

Do not change the amount in this field. Horizon updates it automatically.
The time at which funds are spent for a purchase order depends on the option you select in Spent Event field on the PO header. (For more information, see the “Spent Event” field description for the Edit PO Header window in the “Window and Dialog Box Descriptions” appendix of the Acquisitions Guide.)

Spent

The amount of the budget that has been spent. This amount is also referred to as the expended amount. Horizon updates this field automatically as PO lines assigned to the budget are created, received, canceled, and invoiced.

Normally, you should not change this field. However, if you are creating a budget for funds which you have already spent a portion of, enter the amount you have already spent. Horizon will then update this amount automatically from this point forward.

Take note:

The time at which funds are spent for a purchase order depends on the option you select in Spent Event field on the PO header. (For more information, see the “Spent Event” field description for the Edit PO Header window in the “Window and Dialog Box Descriptions” appendix of the Acquisitions Guide.)

On Order Limit

The maximum amount that can be on order against the budget at any one time. If a user tries to perform a function that will increase the on-order amount beyond the limit in this field, Horizon warns the user. Users can override this warning only if their security settings allow it. The default limit specified in the view appears on new budgets, but you can change it if necessary.

Enter the on-order limit you want for the budget. You can enter this limit as a fixed amount or as a percentage of the budget amount. If you enter a percentage, mark the % box. If you do not want to warn users about over-encumbrances against this budget, leave this field blank.

Take note:

You can enter a limit that is less than, equal to, or greater than the budget amount. You can also change this limit periodically to ensure that funds are used evenly throughout the year. (For example, a library may enter a limit of 25% during the first quarter of the year, 50% during the second quarter, 75% during the third quarter and 100% or more during the fourth quarter.) Entering a limit that is equal to the budget amount ensures that you do not over-encumber the budget. Entering an amount that is greater than the budget amount lets you over-encumber the budget up to the amount you feel comfortable with. You may want to allow a certain amount of over-encumbrance since many items do not come in during the year they are ordered.

Spent Limit

The maximum amount that can be spent against the budget. If a user tries to perform a function that will increase the spent amount beyond the limit in this field, Horizon warns the user. Users can override this warning only if their security settings allow it. The default limit specified in the view appears on new budgets, but you can change it if necessary.

Enter the spent limit you want for the budget. You can enter this limit as a fixed amount or as percentage of the budget amount. If you enter a percentage, mark the % box. If you do not want to warn users about over-expenditures against this budget, leave this field blank.

Take note:

You can enter a limit that is less than, equal to, or greater than the budget amount. You can also change this limit periodically to ensure that funds are used evenly throughout the year. (For example, a library may enter a limit of 25% during the first quarter of the year, 50% during the second quarter, 75% during the third quarter and 100% or more during the fourth quarter.) Entering a limit that is equal to the budget amount ensures that you do not over-spend the budget. Entering a limit that is greater than the budget amount lets you over-spend the budget up to the amount you feel comfortable with.

Authorized Users

Specifies the users who have access to the budget. Users who are not included in the group will not have access to the budget, as long as you have marked the Restrict to Authorized Users box (explained above).

To add a user to the group, click New. Then enter the ID of the user in the User ID field, or click Codes to choose the user from a list. To remove a user from the group, choose the user from the drop-down list. Then click Delete.

 


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