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.
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).
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.