Tuesday, August 20, 2019

Budgeting FY20 Endowment Distribution

The FY20 Endowment Spending Distribution was recently processed. Starting this year you have received the distribution for the full year.

You can access the distributed amount via the UBI module- GL Details Current. Go to the tab titled “BudgetUVA – Gift/Endow”. Select your MBU Project Owning Org Name, the FY Num – 2020 and Fiscal Period Jul-19. The result will be all of your gift and endowment distributions. To obtain the FY20 Endowment distribution select Object Code 2925 Internal Payables-Due To (CENTRAL USE ONLY). See the image below (click for a larger view).
Click image for a larger view

The object code 2925 is a balance sheet object code –“Internal Payables -Due to”. At the end of each quarter, an adjustment will be made moving a portion of the distribution from 2925 to the 8920 object code. By the end of the fiscal year 2925 will be zero and 8920 will reflect the full distribution.

Please use this information to make your entry into BudgetUVA:

  • When you receive your FY20 distribution, visible in GL Details Current as mentioned above, you will enter that budget into both the GL and GA of BudgetUVA.
  • In the GL section of BudgetUVA: Credit the amount (-ve signage) using the 8920 object code
  • In the GA section of BudgetUVA: Debit (+ve signage) the amount in Budget Only,OTPS
  • If you are using an unfunded amount from an earlier fiscal period you would use 4999 object code in the GL.
See the image below (click for a larger view). 
Click image for a larger view

QUESTIONS? Let us know, we're happy to help!

If you have any questions about the FY20 Endowment Distribution, contact Wanda Breeden at 924-4208 or wr4j@virginia.edu.

If you have any questions about using BudgetUVA, contact your budget analyst or send an email to budget@virginia.edu.

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