This field is used to maintain and control budgets by fiscal year and is essential to fund accounting.
KUALL – The Budget Reference is a shared table for both business units. Both UKANS and KURES business units will use the field to record the fiscal year that corresponds with the transaction’s accounting date. Grants (KURES only) will use a Budget Reference equal to “ALL” as a budget reference corresponding to the current fiscal year does not lend itself to the budgeting of grants.
UKANS: Uses the 4-digit fiscal year to designate budget periods starting with 1990 through the current fiscal year. Due to state regulations, expenses incurred in a particular fiscal year must be paid with that same fiscal year funding. Receipts are recognized in the fiscal year in which they are posted to the general ledger. Each transaction includes a Budget Reference and budgets are established each year to allow transactions to post to the general ledger. These rules also apply to UKANS sponsored projects, and those that span multiple years have their budget balances carried forward to each new year.
KURES: Uses the 4-digit fiscal year to designate budgets starting with 1999 through the current fiscal year. For projects, budgets are established using a budget reference indicative of the project start date, and those budgets are used throughout the life of the project, except for a few NIH projects that require year-by-year budgeting. For Org budgets and all non-project transactions, the budget period is the same as the fiscal year.
