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How to read your budget report

Budget Reports will be mailed to your department on a monthly basis. They are printed from the Library’s online acquisitions system and provide up-to-date fund information.

In examining the budget report, you will want to look carefully at a few important numbers. These are detailed below, with an explanation of each.

Date

The date that the Fund Cycle List was produced appears on the second line of the report. Items are ordered and paid against your account on a daily basis, so the balance is constantly changing.

Budgeted
This is the dollar amount you may spend this fiscal year.
Encumbered
This is the dollar amount of items on order. When an item is received, the cost is deducted from the encumbrance figure and added to the paid figure.
Paid
This is the dollar amount of items already received and paid. The paid and budgeted amounts should be equal by the end of the fiscal year.

Balances

Cash balance
This is the dollar amount you have left to spend. This figure is equal to the Budgeted amount minus the total paid.
Free balance
This is the dollar amount still available for ordering. It reflects the funds remaining after all encumbrances and expenditures have been deducted from your allocation. You may continue to place orders for your department as long as this is a positive number.

Both of these figures are followed by a percentage figure that calculates the amount in relation to the total allocation. As materials are ordered over the year, the free and cash balances will drop toward zero. The goal is to have 100% of your allocation expended by the end of the fiscal year. Happy ordering!

If you have questions, please call your Liaison or the Acquisitions Department (334-5281).