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Permanent vs. Temporary Budget Revisions

When moving funds within operating budgets (funds 101000 / 155500), one must consider the purpose. In general, there are two (2) types of budget revisions:

  • Temporary- A one-time revision that affects the budget in the current fiscal year only. These types of transactions are identified in the budget as either a BD04 or BD05 entry.  If you need to cover a one-time expense, then a temporary revision is appropriate.
    • A BD04 entry signifies that the Budget Office created the FGAJVCD transaction that created the revision while a BD05 signifies that the department created the FGAJVCD transaction that created the revision.
  • Permanent – A permanent revision that affects the budget in the current fiscal year and all years going forward. These types of transactions are identified in the budget as either a F240 or F241 entry. If you need to cover a new and recurring yearly expense, such as annual memberships or subscriptions, then a permanent revision is appropriate. This type of adjustment will permanently adjust the respective account’s original balance by the amount and subsequently minimize the need to make yearly adjustments for this expense each fiscal year going forward
    • A F240 entry signifies that the Budget Office created the FGAJVCD transaction that created the revision while a F241 signifies that the department created the FGAJVCD transaction that created the revision.
    • If you notice that every year, the original budget for a particular account has to be adjusted in order to cover an expense, it is encouraged that you consider processing a permanent budget revision by that expense amount. This will permanently adjust the respective accounts and reduce the need to transfer funds each fiscal year

Once you have determined whether a permanent or temporary budget revision is required, you must determine whether the revision can be completed on your own (on a department level) or if it requires processing and approval by the Budget Office. Instances where the budget revision must be processed by the Budget Office are listed below, otherwise the department can make the adjustment themselves:

  1. Making any adjustments within a revenue account (accounts beginning with “4”)
  2. Making any adjustments within a compensation account (accounts beginning with “5”)

Please keep in mind that budget revisions transactions should never combine a permanent type with a temporary type in the same FGAJVCD entry. The system will process the entry, but consequently, this throws the budget out of balance.