Units with Recharge Income Accounts Must Align Recharge Income Budgets by July 17

Sent to KFS-Update on July 10, 2015

All campus recharge units with recharge income accounts should follow the procedures below to bring their recharge income budgets into alignment with income received. All recharge income budgets must be aligned no later than Friday, July 17.

A. If financial income received (recharge income) was less than anticipated, so the budgeted amount exceeds the amount in the financial (actuals) column …
  • DECREASE your recharge income budget(s) to equal income received.

Example of Budget Entry 

From/Decrease KFS Account-000x (e.g. 0008, 0003, 0005) Other Expense Budget Object Codes in Account
From/Decrease KFS Account-390x (e.g. 3900, 3902, 3903) Recharge Income (Object Code 390x, Object Type ‘IC’)
B. If financial (actual) income received (recharge income) was greater than anticipated, so the budgeted amount is less than the amount in the financial (actuals) column …
  • INCREASE your recharge income budget(s) to equal income received.

Example of Budget Entry 

To/Increase KFS Account-390x (e.g. 3900, 3902, 3903) Recharge Income (Object Code 390x, Object Type ‘IC’)
To/Increase KFS Account-000x (e.g. 0008, 0003, 0005) Other Expense Budget Object Codes in Account

Initiating either of the above actions (A or B) will result in a zero balance in your recharge income (Object Code 390x, Object Type ‘IC’).  Excess balances in the KFS accounts may be left in Budget Object Code 0003 or 0008.

The Budget Appropriation Transaction (BAT) e-document—used for fiscal-year accounts—will be available until the Interim Period deadline of Friday, July 17. For help with budgeting in KFS, please see the Budgeting Quick Start Guide.

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