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Budget Preparations
Budget Preparations
There are five types of budgets maintained in the GMS system.
Program
Budgets
These budgets appear on the element and project revenue and expenditure reports. They are to be entered for the entire grant or contract period and will be compared with project to date amounts.
Indirect Cost
Budget
This budget is entered for each indirect cost pool (elements 999000-999900).Indirect cost budgets are compared to fiscal year-to-date amounts charged in the indirect cost pools.
Fringe Benefit Budget
This
budget is used to monitor charges to the Fringe Benefit Pool. Compared to fiscal year-to-date charges in the Fringe Benefit Pool (Element 998000).
YTD Timesheet Budgets
Timesheet budgets are expressed in hours and appear on
Year-to-date Timesheet Charges by Employee and by Activity reports where they are compared to fiscal year-to-date hours charged on time sheets.This is a great management tool!
Agencywide Budget
This budget appears on the
Agencywide Line Item Revenue and Expenditure report.You enter this budget for the agency’s fiscal year. On financial reports they are compared to fiscal year-to-date revenues and expenses.
You may enter, change, print, display or export Program
Element and Project budgets. |
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