Finance Training

Account balances similar to legacy accounts balances are calculated and delivered via the “Account Balances by Organization” dashboard.

Yes, the calculation for “sponsored” account balances is total budget (even if it spans multiple years), less total expenditures to date, from inception of award, and including transfers and capital asset acquisitions.

Yes, the calculation for account balances for department and other non-sponsored accounts is based on opening fund balance, plus current year revenues, less current year expenditures (including encumbrances).

Inception-to-date (ITD) balances represent the total activity, both actual and budgeted, that has occurred since the start of a project. The ITD is most commonly used for contract and grant management and reporting, but is also used for capital projects.

There are three main ways balances are presented in KFS:

• Cash Balances are somewhat similar to today’s account balances in that, generally, revenues increase cash and expenditures decrease cash. Surpluses from prior years would be reflected as cash balances that carry forward. The reason that cash balances in KFS are not exactly the same is that not all revenue and expense transactions are actually cash transactions. For example, when revenue is generated by extending "credit" (accounts receivable), there is no increase to cash until the receivable is paid.
• Available Balances are based on budgeted, less actual activity, and can be viewed by object code (Available Balances) or in summary (Balances by Consolidation) based on the object code consolidation codes.
• General Ledger Balances provide the beginning balance, and monthly and current-year total activity by object code.

All accounts in the following Subfund groups have inception-to-date reporting: