Overview: Commitment Data on Oracle Financials Reports
On this page:
- Commitments Defined
- Commitment Data Not Included on Oracle Financials Reports
- Oracle Financials Reports Displaying Commitment Data
- Timing of Commitment Data on Reports
- Utilizing Reports to Forecast Future Expenditures and Available Balances
Commitments are expected costs associated with future transactions. The main types of commitment data included on Oracle Financials reports are salary, student aid, and purchasing commitments as described in the table below.
(Staff, Faculty, and Student)
Future salary as entered in PeopleSoft and allocated in Oracle via Labor Distribution schedules.
|Student Aid Commitments||
Future student aid commitments as entered in PeopleSoft Graduate Financial Support (GFS), Financial Aid, or Student Financial modules.
Remaining balances on approved Requisitions or Purchase Orders that have not been suppressed.
|Burdens on the above||
Burdens (fringe benefits, indirect costs, etc.) that will be applied to the above costs.
The terms commitments and encumbrances can be used interchangeably. Transaction source codes for all commitments listed on Oracle Financials reports begin with "E" for encumbrance. These types of commitments are also known as "hard commitments", meaning that the source transaction has been recorded in the system; it is not just a future plan or "soft commitment".
For a complete list of Source Codes (expenditures and commitments), refer to Resources & Job Aids: Oracle Reference Code Table.
Commitment Data Not Included on Oracle Financials Reports
Certain types of commitment data are not readily available and therefore are NOT included on Oracle Financials reports. Users should consider these when forecasting future expenses.
|Hourly wage payments||Future payments for hourly and bargaining unit employees|
|Additional recurring pay||Supplemental pay (supplemental pay, housing or vehicle allowance, honorarium, etc.)|
|Vacation||Credits for future vacation|
|Expense Requests transactions
(Advances, Reimbursements, Non-PO payments or Petty Cash)
|In-process Expense Requests transactions (not yet recorded as actual expenditures)|
|PCard||Unverified or unapproved PCard transactions|
|iJournals||iJournals transactions not yet posted|
(i.e. Service Center Charges)
|Batch journals typically received once a month to record transactions from service centers or other units that allocate costs.|
|Burdens on the above||Burdens (fringe benefits, indirect costs, etc.) that will be applied to the above types of actual costs.|
|Suppressed Purchasing Commitments||Users are able to suppress lingering purchasing commitments when they do not expect them to result in an actual cost. See How To: View or Suppress Commitments on an approved Purchase Order. Automatic suppression based on business rules will also be periodically performed. For more information, see Overview: Purchasing Commitments.|
Oracle Financials Reports Displaying Commitment Data
The following ReportMart3 reports present commitment data at a detailed level:
The following ReportMart3 reports present commitment data at a summary level:
Transaction Reference Data
Each commitment line displayed on detail reports will include reference data to assist you in better understanding the source of the commitment.
- The Source Code indicates the type of commitment. All commitment source codes begin with "E". For a complete list of Source Codes (expenditures and commitments), refer to Resources & Job Aids: Oracle Reference Code Table. Additional explanation, including central resource contact information for each Source Code and explanations of what is displayed in the Reference Data and Description columns can be found in the job aid.
- For student commitments, the "Acct Ref" column is populated with the term related to the commitment. For example 1082 is the reference code for academic year 2008, Autumn term.
- 1 = Century (21st)
- 0 = Decade (2000's)
- 8 = Academic Year ('08)
- 2 = Term (Autumn), 4 = Winter, 6 = Spring, 8 = Summer
Timing of Commitment Data on Reports
When running the Monthly Expenditure Statement reports online, users have the option to include or not include commitment data through the "Commitment Display" prompt. When commitment data is included, it is dependent upon the dates entered in the search criteria, as follows:
- Commitments will be included on Expenditure reports (when requested) for the most recently closed month. Commitments related to the most recently closed month are "frozen" and will reflect commitments that existed when the month was closed.
- Commitments will also be included on Expenditure reports run for the current month (including activity posted to Oracle as of the prior day).
- Commitment data will NOT be included on reports run against prior closed periods or future periods.
- Student commitments are updated in Oracle at the end of each month (or each pay period for GFS salary commitments).
- Salary and purchasing commitments (including burdening) are updated each night.
Utilizing Reports to Forecast Future Expenditures and Available Balances
Oracle Financials reports are a tool to help you forecast future expenditures while considering commitments. This becomes important the closer one gets to the end of a project period or fiscal year. For help determining if funding for sponsored or non-sponsored projects will last through the project period (or fiscal year), see Overview: Forecasting Future Expenditures and Available Balances.