Fund Balance Report

Fund Balance Report is a financial report that shows the total, the principal, and the spendable balance for specified funds. The balances are initially set up during your implementation. 

Traditionally, the balances are calculated as noted below:

• Fund Balance: assets minus liabilities.
  • The fund balance is the total balance for the fund.
• Principal Balance: The historical gift balance. 
  • Any incoming donations will increase the principal balance of a fund. 
• Spendable Balance: The spendable amount within the fund.
  • This is determined by the distribution type set on the fund.
• Available Cash: The amount of cash available to spend.
  • This is a separate balance from spendable balance which is calculated by the percentage of available cash on the investment account associated with the fund. 

This data will show the fund and fund group, such as fiscal sponsorship, unrestricted, agency, etc. The columns include Permanently Restricted (PR), Temporarily Restricted (TR), Unrestricted (U), plus the total for the fund, as well as the asset amount in the principal balance and the spendable.

Different filters can be applied to narrow the results.

Run a Fund Balance

1. Navigate to the Financials page and click Fund Balance in the left-side menu.
2. Click a date.
   • Alternatively, select a Static Date, and then click Show Date.
     
     
     

The Fund Balance Report is displayed. To further refine the information in the report, use the options listed below.

• A basic report will display the fund group, the individual funds, the total amount in the fund, and it will break out the amounts into the various restrictions that have been set up for each fund as well as the principle and spendable amounts. If no restrictions are set up for a fund, a column labeled ZZ will be displayed.
  
  
  

Additional Information

• Click Edit Date in the left-side menu to change the date. Click Save to save changes.
  
  
• Click Edit Options in the left-side menu to select Group Funds By or Round. Click Save to save changes.
  • When Default is selected for Round, no rounding occurs. 
    • Rounding follows the standard rounding rule of rounding up if five or more, and rounding down if less than five.
    • When using rounding, totals in reports may become imbalanced due to rounding differences across individual items.
       
      
      
• Click Load Saved in the left-side menu to use a saved filter.
  • Click [delete] to remove saved filters.
    
    
• Click Save Report in the left-side menu to name a report. Click Save to save changes.
  
  
  
• Click Print in the left-side menu to customize report columns and titles. Click Print again to display the report.
  • Click the Show checkbox to show columns or uncheck the box to hide columns.
  • The printed report will have a white background, contain text from Financials Content, and display without lines.
    
    
    
• Click Add Filter in the left-side menu to use Add Financial Filter.
• Click Export in the left-side menu to download an Excel spreadsheet containing currently displayed information.
• Click Raw Export in the left-side menu to download an Excel spreadsheet containing currently displayed information that has each cell of each line of the spreadsheet filled.
  • This can be useful when using Excel functions. 
  • Fund attributes are included in the spreadsheet.
• Click Show/Ex SubFund in the left-side menu to view subfunds.

Restriction Accounts

The General Ledger tracks endowment balances and recognizes only three fund balance accounts.

• Principal - If the endowed flag is checked on funds, donations will post to this fund
  balance account.
• Default - Accumulated Income.
  • This is what the system refers to as the default fund
    balance.
  • Net earnings, minus principal gifts or spendable transactions, post to this
    account when the fiscal year is closed. 
• Spendable - If the Spendable flag is checked on funds, the following actions occur:
  • Distributions increase this account.
  • Grants/vouchers decrease this account.
  • Donations increase this account if Apply to Spendable is checked.

To track principal and spendable balances in the general ledger, first set the following
equity restrictions using the fund balance accounts available within the chart of accounts. 

For each fund, check the Endowed and Track Spendable settings as appropriate. Once the settings are checked, the system will update the appropriate general ledger account as transactions are processed in the system. For example, donations will increase the principal balance, while grants reduce the spendable balance. The Balance Sheet and Fund page should always be in sync. 

For any non-endowed fully spendable funds, the entire balance of the fund will be in the default fund balance account.