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Policies and Procedures

Procedure 903.3 – Reconciling Fringe Benefits

Effective
January 11, 2012
Last Updated
November 18, 2014
Last Reviewed
November 18, 2014
Responsible University Officer
Director of Budget Office
Responsible Unit
Budget Office

Procedure Statement

Budget allocations are used to distribute budget to departments’ chartfield string defined in Commitment Control ledgers. The Commitment Control fringe benefits allocations will be used to transfer fringe budget from the fringe pools.

Forms and Instructions

University departments that have state appropriations source code benefit from the fringe benefits pool. After each payroll is run, an allocation is processed to transfer fringe budgets from the pool and to roll up to each chartfield string. The roll-up includes all activity for the particular payroll run by the Budget Office. If charges are incurred against benefits lines, the allocations transfers a budget amount from the specific chartfield strings back to the fringe pool.

The amounts must net to $0. The total increase amounts must equal the total decrease amounts. The system compares a combination of fund codes, fund sources, departments and accounts for state-related transactions and creates a benefits budget for the amount incurred.

Fringe benefits must be included on budget transfers when transferring state appropriations budget amounts from non-personnel accounts to personnel accounts. At the beginning of the fiscal year, a $0 budget must be created, as the budget exception needs to have override ability in order for payroll to process.

Fringe pool accounts include:

  • 512300 – SPA Premium Budget
  • 512700 – SPA Longevity Payment Budget
  • 516200 – Short-Term Disability
  • 515100 – Social Security Budget
  • 515200 – State Retirement Budget
  • 515300 – LEO Retirement Budget
  • 515400 – Optional Retirement Budget
  • 515500 – Medical Insurance Budget
  • 552320 – LEO Separation Allowance

Related Data

None

History

Revised:
November 18, 2014: Added fringe benefit information specific to ConnectCarolina actions.
January 11, 2012