Overview
Gift deposits, such as checks to a department, and other various forms of departmental income (formerly known as restricted revenue accounts) should be budgeted using a budget journal, similar to budgeting new projected income for a Departmental Sales and Service account but using the Fund Code 20400 (restricted non-sponsored). The steps in this process are as follows:
1. The department receives new income.
2. The department completes two (2) budget journals - one to increase the expense budget, another to increase the revenue budget. More information on how to do this can be found in the Training Library under Financials Topics by Module > Budgets > Working with Budget Amendments > Additional Budget Amendment Topics: "Creating a Budget Journal to Establish a Revenue Budget for DSS.")
- Best practice is to provide information and attachments as backup on why the increase is happening.
- The department approvers approve the budget journals.
- Central Accounting approves the budget journals.
3. The department makes a web departmental deposit via the UGA Cash Management System (TouchNet) and takes checks to the Bursar's Office.
4. The deposit shows up as an actual in revenue.
5. A user can spend against the expense budget.