The mix of transfer activity in the GL077 with expense activity that impacts GAAP has been problematic for reporting
The need for greater clarification of financial targets for schools and units
Will the GL077 still be available?
Yes, however the Office of Budget and Planning will no longer disseminate Management Budget materials in the GL077 format.
My Net Operating Results are negative!
That’s okay. Schools & Units will continue to be held accountable to the Management Budget.
How will this affect forecasting?
Forecasting will be in the GL081 format beginning in December for the FY24 Q1.
Prioritize your analysis of GAAP revenue and expenses while reducing focus on internal transfer activity to streamline efforts impacting the GAAP bottom line.