Budget Categories and Fiscal Years

In Horizon, a budget is a combination of a budget category and a fiscal year allocation. The budget category is the general fund category used year-after-year to which funds are assigned for individual years.

The category defines general budget information that applies to all fiscal years. The fiscal year defines the budget amount, status, and other budget information for individual years. (For an example, see the Edit Budget window above.)

The budget code consists of the category code and a fiscal year, separated by a period (for example, “arthist.1998”). When you enter a budget on a PO line, you must enter the category code, followed by a period and the year of the budget you want.

You can create a nonfiscal budget for funds that are not tied to fiscal year (for example, for funds received from a grant). To create a nonfiscal budget, simply enter an amount in the Fiscal Year Allocations group without specifying a year. When you enter the budget in Horizon, the budget code is the category code followed by a period, but no year (for example, “arthist.”).

 


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