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  5. VI.5 Project Budgets

VI. Budgets

Guide to Financial Operations

VI.5 Project Budgets

VI. Budgets
Guide to Financial Operations

The Projects module is used to collect financial transactions associated to a project. The Projects module, along with the Commitment Control module, controls the amount of expenditures that can be charged and posted to project budgets.

State agencies prepare, approve and post budget journals to create project child budgets. The generate parent functionality in SFS will create/update the project parent budget when a project child budget is adjusted.

Note: These budget journals do not require the Division of Budget (DOB) or OSC approval, and are posted to SFS after agency approval. Budget journals entered online will workflow within the agency for approvals. Budget journals submitted through bulkload are automatically approved.

Non-Onboarded ESA Agencies will establish their project child and parent budgets in the Commitment Control module and should refer to SFS Coach Commitment Control 215 for additional guidance.

SFS Coach - Commitment Control 215

Onboarded ESA Agencies will establish their project child and parent budgets in the Project Costing module and should refer to SFS Coach JAA-GCC101-009 ‘Create and finalize Project Budget’ for additional guidance.

SFS Coach - JAA-GCC101-009 Create and finalize Project Budget

Project Budgets have the following chartfields:

Project Child Budget Project Parent Budget
Project Costing Business Unit (PCBU) –Agency Specific PCBU – New with PCIP General Ledger Business Unit (GLBU)
Department Project ID
Fund  
Account  
Program  
Budget Reference  
Project ID  
Activity  

After the Child budget is established, it becomes available to transact against. Agencies can allocate amounts to one or many Child budgets to support greater control and detail, both within and across agencies.

Projects with Federal Funding Sources

For Non-ESA Onboarded agency projects with federally funded sources, project budgets serve a critical need to prevent overspending of the Federal Grant. For an agency to transact on a project within a fund designated as “Federal”, the transaction must have sufficient budget authority in the project parent and project child budgets as well as appropriation and segregation budgets. Federal funds must also be associated to the project. For additional guidance on how to associate a specific federal fund and the related budget control option with a project, see Chapter XIX.2.B Project Details and Budget Control.

Guide to Financial Operations

REV. 02/01/2022