Georgetown University – Main Campus

Budget-to-Actuals Report Review and Reconciliation Log

NON - GRANTS

Department:School: MSBCampus: Main Campus

Period Reviewed and Reconciled (Quarter and Fiscal Year):

Cost Center / Gift/Project/
Other Worktag¹ / Payroll / Non-Payroll Auto-Approved / Encumbrances (Obligations) / Actual vs Budget Variance Net / Corrective Actions / Date Resolved / Comments
Payroll Transactions / Fringe Benefit Calculation / Procurement Card / Consolidated Billing / Gifts/GAMBIT / CORES/DCM Charge Back / Auxiliary Charges / Other Charge-Back (Facilities Work-Order, Telecom, etc.) / Punch-Out under $500 / Banner/Destiny / FY15 Budgeted Revenue / FY15 Budgeted Expense

Reviewed and reconciled by:

______

SignatureName (Print)TitleDate

Approved by:

______

SignatureName (Print)TitleDate

Budget-to-Actuals Report Review and Reconciliation Log

Instructions for Main Campus Departments

As of November 20, 2014

This log will serve as the primary backup detailing a department’s reconciliation of all payroll transactions, auto-approved non payroll transactions and any notes or corrective actions needed to appropriately document corrective actions in progress or any outstanding budget management actions.

Log Components Key

  1. Cost Center: References the cost center (CC XXXX) being reviewed
  1. Gift, Grant, Project, Other Worktag, Etc.: Not required unless corrective action is needed or further follow up required. The department should then make note of the specific other worktags involved.
  1. Payroll fields: Payroll fields: Posted payroll amounts (salary and fringe benefits) verified by Payroll Journal Transactions report. Until further notice, if fringe amounts are wrong, please do not initiate or submit any journals to correct them. Document errors and further information will be communicated.
  1. Non-payroll Auto-approved:
  2. Procurement card – all policies for reconciliation found on Financial Affairs ( and MCFO ( Checking this box indicates that all charges have been reallocated (either through PaymentNet or via a ProCard journal) from spend category S0193 – Oth Op Exp – Procurement Card Expenseand that all supporting documentation is assembled.
  3. Consolidated Billing – ensure all transactions posted correctly and documentation is in hand for the following suppliers: Verizon, AT&T, Fisher Scientific, Georgetown Travel Online, Anthony Travel, FedEx, Xerox
  4. Gifts/Gambit: All correspondence with the Office of Advancement reviewed for accuracy on expectation of gifts/journal postings
  5. Auxiliary Charges and Other Charges: transactions support documentation received from Georgetown auxiliary services and for interdepartmental chargebacks (i.e. CETS charges and OCAF charges)
  6. Punch-Out Under $500: Packing slips and invoices from OfficeMax and VWR reflect postings correctly
  1. Encumbrances: Open PO’s monitored to ensure receipts have been created timely for invoices received and department has corresponded with appropriate cost center buyer for any PO actions needed
  1. Actual vs. Budget Variance: Expenses and/or revenues are on track according to all posted transactions
  1. Corrective Actions, Date Resolved and Notes: Departments should include specific worktags for items that need follow up or a journal to correct improper charge or posting. The next period’s log should make note of whether outstanding items were resolved or further follow up is ongoing.

Reports Needed for Reconciliation

The following reports should be run in GMS to assist in the review and reconciliation:

  1. Budget to Actuals Summary Report
  2. Payroll Journal Transactions
  3. Non Payroll Journal Transactions

Instructions on how to run these reports are available at The reports can be printed or downloaded to Excel.

Preparation, Approval and Retention of Logs

The review and reconciliation of the transactions included in the reports should be evidenced by checking off each item reviewed. The logs should be retained in the department, with any supporting documentation, for two fiscal years. The log and supporting documentation should be sufficiently detailed for a third-party to review the outputs and actions taken after performing the tasks. The preparer should sign and submit for approval to their supervisor or department head. Afterward, logs will be forwarded to your appropriate senior business manager for review and tracking to ensure compliance. Please consult with your Senior Business Manager for specific deadlines for your unit/school. All reports are due to MCFO within 60 days of the close of the quarter.