BUworks: Funds Reservation
Course type: Hands-on lab
Course level: Basic
Expected duration: 2 hours
Description: This functionality allows allocation of committed projected expenditures to a Cost Objects in the BUworks WebGUI ECC system; eliminating the need of a shadow system. The results reflect the true available balance allowing for an accurate budgeted projection for your areas quarterly or annual budget confirmations.
Fund reservation transactions provide a manual method of committing known expenses throughout your annual budget year or grant duration. It is an efficient and effective way to manage and maintain your departments operational and salary budgets.
Here are some examples of anticipated expenses that funds could be reserved for: business related travel trips, college or department events, special research projects, salary, and departmental or research costs.
Target Audience: Departmental administrators with budget or grant responsibilities.
Prerequisites/Requirements: Confirmation from employee’s manager that this course is appropriate to employee’s business role. You are required to at least have the Department Submitter Role. (E.FI>Department_Submitter - Role).