A Financial Statement Template in Excel

Financial Report Instructions General Information The financial report is prepared quarterly by the recharge center to show cumulative activity for the biennium. The report summarizes the actual activity that has shown up on the recharge center operating account for the biennium and includes accruals for activities that have not yet posted to the budget but are related to the time period being reported. The report is set up so revenue is entered as a credit (-) and expenditures as a debit (+). This is the format to be used by most recharge centers for the quarterly financial report. Preparing the Report The top part of the form is copied from the Budget Status Report (BSR). The ending balance should match the ending balance on the BSR. Amounts can be rounded to the nearest dollar. Amounts followed by a minus sign (-) on the BSR/BSSR should be entered with a minus sign. The bottom of the form includes accrued amounts that are not on the BSR and relate to the time period being reported. Accrued Revenue Accrued Revenue includes revenue for the period for which an Internal Sales Document or Cash Sale Invoices has not yet been issued. The revenue could be either unbilled or posted in a following month. Accrued Annual Leave Recharge and cost centers accrue annual leave (not sick leave) for recharge center employees since the recharge center would be responsible for paying this if the employee left the University or the recharge center ceased operations. The calculation of the annual leave accrual is: Annual leave hours per employee’s quarter ending 220 form x hourly salary x FTE on center Use the "Annual Leave" tab in the template to calculate the accrued leave to include in the financial statement. Encumbrances Valid encumbrances, except those that do not pertain to the report period, should be reported. Encumbrances for blanket purchase orders and the unused portion of maintenance contracts should be excluded from the encumbrance amount. Unencumbered Accounts Payable Unencumbered Accounts Payable represent material or services received by the recharge center for which neither the expenditure nor an encumbrance has appeared on the BSRs to date. Unposted Depreciation or Use Allowance Unposted depreciation or use allowance is the amount that has not yet shown up on the BSR. Financial Report Instructions Unposted Institutional Overhead Unposted institutional overhead is calculated by adding the cash sales from the top of the report and the Cash Sales Invoices from the bottom of the report and multiplying by the institutional overhead percentage. Use the following formula to calculate the unposted institutional overhead: [Posted Cash Sales (from top) + Cash Sales Invoices (from bottom)] x Overhead % Institutional Overhead % ─ Posted Overhead Adjusted Net Fund Balance With this report format, surpluses are shown as a credit (-) and deficits as a debit (+) following accounting conventions. A surplus will be shown with a (-) and a deficit will show up as a (+). Report Distribution Cost centers should send a copy of their report to the appropriate Dean’s or VP’s office. Recharge centers should send a copy of their report to Management Accounting and Analysis and their Dean’s or VP’s office. UNIVERSITY OF WASHINGTON Recharge Center Quarterly Financial Report Quarter Ending: Budget # Prepared By: Center Name: Phone: Biennium to Date Biennium to Date Revenue Expenditures enter as credit (-) enter as debit (+) Date: BSR Code 420 620 440 01 02 03 04 05 06 07 15 ( ) Posted Cash Sales Posted Internal Sales Posted Institutional Overhead Salaries & Wages Contract Personnel Services Other Contractual Services Travel Supplies & Materials Equipment Retirement & Benefits Depreciation or Use Allowance Other Totals 788 Net Revenue or Expense Beginning Fund Balance Balances - - Ending Fund Balance (matches current BSR) Accruals and Obligations (Items not shown in BSR/BAR) Accrued Revenue enter as credit (-) Accrued Expense enter as debit (+) Accrued Revenue ISDs (either unbilled or not posted to budget) Cash Sale Invoices Accrued Expenses Annual Leave (see attached sheet) Encumbrances, net of adjustments *Unencumbered Accounts Payable Unposted Depreciation or Use Allowance Unposted Institutional Overhead **Other Totals & Net Accruals Ending Fund Balance (as shown above) Adjusted Net Fund Balance - (Surplus)/Deficit - - - *Include only valid encumbrances for which the material or service has been received. **Explain on a separate sheet. Annual Leave Calculation (Update each qtr) Employee Name Monthly Salary (@ 100% FTE) Hourly Salary - Annual Leave Hrs FTE% on (from 220) Center Vacation Accrual - Total (automatically transfers to report) Add additional rows as necessary