Budget

Policies & Procedures

HOW TO CALCULATE YOUR AVAILABLE BUDGET FOR THE CURRENT FISCAL YEAR

There are several steps to calculating your remaining operating budget for this fiscal year for each Banner Org code. Data will need to be retrieved out of 2 systems:

A. SciQuest

All purchasing requisitions are created and originate in SciQuest and once they are created they go through budget, management and purchasing approval queues. Until all these queues are approved and purchasing approves it, they are pending and are not subtracted from the available budget in Banner. As a result in order to calculate a true picture of your remaining operating budget you will have to take a total of all the pending requisitions for each of your department organization codes and come up with a SciQuest Pending Transactions Total. Detailed Instructions to pull these transactions are located here.

Available Budget to Spend = Total Operating Budget (Banner) – [Banner YTD Activity + Banner Commitments + SciQuest Pending Requisitions]

As an example we would do the following Calculation:

Available Budget to Spend = $1,000 – [$286.89 + $0.00 + $113.64]

Available Budget to Spend = $400.53

For more detail instructions please view How To Calculate Your Available Budget.