The primary purpose when monitoring expenditure against income is to ensure that expenditure does not exceed the available income. As when monitoring expenditure against budget, the first problem is how to identify which sources of funds are showing significant surpluses or deficits. The easiest way for departmental administrators to spot significant variances is to regularly review the Financial Summary Report.
The Financial Summary Report
Please refer to the Financial Summary Report pages for guidance on how to read the Financial Summary Report.
Once you have identified that a particular source of funds is showing a significant surplus or deficit, there is a range of reports which will help you identify why a source of funds is showing a significant surplus or deficit.
Trial Balance Report - Detailed (UFS)
This standard CUFS report will provide you with a detailed analysis of the year to date surplus or deficit on any account code combination you select. It can be run at any time data is required.
The data reported is as follows:
| "Beginning Balance" (first column) | This shows the balance on the account(s) at the beginning of the financial year. |
| "Period Activity" (second column) | This shows year to date movement on all accounts in the range selected |
| "Ending Balance" (third column) | This gives the total balance on the account(s) selected when the report was run. |
See Appendix G for a full example.
Pros & Cons of this report
| Pros | Cons | |
| As you can set the parameters for this report it allows you to focus on one small area of your accounts. | However, the detail means it will not help you identify which account is in trouble. | |
| The detail provided in the report means it is very useful for working out why an account is in deficit or in surplus. | Finally this report only shows in-year activity, it provides no information on whether there is a CUFS budget or not. | |
| Please note that it is possible to select any starting period when running this report i.e. the report will not give a year to date picture unless the starting period is AUG-XX, where XX signifies the year. |
Transaction Code Balances (UFS) Report
This standard UFS report will provide you with a detailed analysis of the year to date surplus or deficit on the account(s) selected at transaction code level.
The data reported is as follows:
- "Beginning Balance" (first column)
This shows the balance on the account(s) at the beginning of the financial year. - "Period Activity" (second column)
This shows year to date movement on all accounts in the range selected. - "Ending Balance" (third column)
This gives the total balance on the account(s) selected when the report was run.
See Appendix H for a full example.
Pros & Cons of this report
| Pros | Cons | |
| Very similar to the 'Trial Balance Report- Detailed (UFS)' report, but provides the transaction code descriptions and allows customised sub-totalling. | Will not provide details of any CUFS budget created. | |
| Can be run as required. |
Accounts Analysis Transaction Detail Report
This standard UFS report provides transaction by transaction detail, including reference and invoice numbers, of all activity on the account(s) selected for the chosen period.
See Appendix I for an example.
| Pros | Cons | |
| This report can be run over the financial year end so that it shows different financial years in one report. | ||
| This report is best for helping you identify the transactions that have caused your variance on a particular account rather than identifying which account has a problem. | ||
| In addition to the transaction code details, the report will provide opening and closing balances for each month in the period chosen, and sub-total and totals determined by the initial parameters set. |
Trust Fund Statement
Income and expenditure on Trust Funds can be monitored using the reports previously listed. However there is a specific report for Trust Funds which summarises the purpose, performance and activity of each Trust Fund. It is produced and distributed by the Treasury and Investments section of the Finance Division on a monthly basis following the closure of General Ledger. It pulls together information available from UFS (sums on deposit, total value of capital and deposit income) and less transparent financial information (estimated income, number of units sold or purchased).
See Appendix J for an example.