Financial management reports

The nVision Financial Management Report provides a standard income and expenditure statement (for budget, actual and encumbrances).

This report can be produced at varying levels:

  • For the budget unit as a total
  • For each department within a budget unit; and
  • For each project/grant within each department

The statement contains income and expenditure information for the following categories displayed in rows:

Category

Information

Total income

For the current year

Total expenditure

For the current year

Current year operating result

Income less expenditure

Prior year cash result

Actual result from the prior year

Net operating position

Current year operating result +/- prior year result

 

For each category, there are columns which display the following information:

Category

Information

Movement for current period

Actual transactions for most recent period only

Budget

The budget information that has been loaded into the system against the "final" scenario.

Movement for each prior period in current year

Actual transactions for each prior period in the current year (these are hidden but can be displayed by clicking on the "+" button).

YTD movement

The total of actual transactions recorded so far in this accounting year

Outstanding encumbrances

Encumbrances/commitments that have either been system generated (e.g. from HR system) or input manually.

Total-YTD movement + encumbrances

Actual transactions + encumbrances

Variation

The difference between the budget and YTD movement + encumbrances. This is the amount of available funds.

 

% Spent

Percentage difference received/expended compared to budget for the full year.

The report can be produced with or without a Payroll Costing Report. This report is a payroll summary, which identifies all the salary transactions that make up the balance of "Salaries and Related Costs" and "Scholars Expenses" on the nVision report.

Sample report

Recurrent budget reporting is done on a cash basis in the ACTUALS ledger, while the University's annual financial statements are prepared on an accrual basis.

The main difference between the two types of reporting at ANU is that transactions in the FINANCIALS ledger appear in the annual financial statements and do not appear in recurrent budget reporting.

Financial transactions include, but are not limited to, depreciation, provisions (doubtful debts, long service leave, recreation leave etc) and other 'year end' entries such as prepaid expenditure and accrued revenue.

The financial transactions are recorded at the local budget unit level (in the Financials Ledger), however, areas are not required to manage these costs as part of their budget responsibilities. Finance/business managers and others do need to be aware of the Financials Ledger as this is part of overall account balances, but queries should be directed to F&BS, particularly with respect to closure of fund locations.

The transactions will not show on any recurrent nVision financial reports and as such do not affect the cash position. Some reports allow for the optional inclusion of these transactions.

The financial activity of all budget units impacts on the ANU Annual Financial Statements (AFS – comprising Income Statement, Balance Sheet and Statement of Cash Flows and Notes), but internal management reports on recurrent budget expenditure are not presented in these formats.