A budget is a plan for a unit’s expenditures of funds during the coming fiscal year. Eastern Illinois University’s fiscal year runs from July 1st through June 30th.
Funds are budgeted in Banner organizations, and these organizations are grouped by ledgers. Ledger one contains organizations which are funded with state appropriated (tax revenue) dollars and income fund (tuition) dollars. Ledger two contains organizations which are funded with designated (local/auxiliary) funds. These funds are collected by self-sustaining entities and include organizations funded with student fee money and athletic ticket sales. Ledger three, revenue bond, organizations are used for entities which are funded by bonds. These entities (residence halls, MLK union, student recreation center) collect revenue which is used to pay off the bonds. For more information on these organizations and others, click here.
Within organizations, funds are budgeted by accounts. Accounts are categories used to distinguish the types of fund being budgeted. Funds used to pay salaries are budgeted in the personal services accounts (61XXX), while non-salary dollars are often referred to as direct expenditures (71XXX).
Since local and revenue bond organizations are self-sustained organizations, revenue accounts (5XXXX) are recognized so fiscal agents operate within their budgets.
Personal services funds (61XXX) are allocated into positions, which are linked to employees through jobs or contracts. Positions may be permanent or temporary, full-time or part-time, filled or vacant. When an employee leaves one job for another at Eastern Illinois University, his/her position number changes.
Several tools are available for financial managers to monitor budgeted accounts and positions each month. The Year-To-Date Financial Transactions (with FOS-Fund Organization Security) and Banner Self-Serv reports provide information on the budgets, expenditures, commitments and fund balances on personal services (61XXXX) and direct expense (71XXX) accounts of an organization for the fiscal year. The OrBIT and OrBIT Lite reports also provide financial managers information on the personal services of their organization(s) for the fiscal year and a specific payroll (monthly or bi-weekly), respectively.
Please contact the Budget Office at 581-3428 or email wvweber@eiu.edu with questions concerning personal services budgets, expenditures, commitments and fund balances.
