Financial Reports

Each week, your organization account will receive a weekly budget report via email that summarizes activity, income, expenses, and balance in your account. The report will only show transactions that have cleared through the financial system and actually posted to the account. There might be transactions that are pending or in process that are not included in the report.

About the Report

To help you identify your weekly report email, please look for the following criteria:

From: iBot Agent 11g [email protected]

Subject: Current Budget for Student Activity (followed by your six disix-digitity number)

Your report will be enclosed as a PDF.

How to Read the Report

If the attachment has the following message “No results,” there has been no activity on your account this fiscal year to generate a report.
In the “Actual Amount” column in the report, the “–” symbol in front of a number indicates a deposit or credit. This symbol in front of your account total indicates a positive balance.
No symbol in front of a number in the “Actual Amount” column indicates payment or debit. If there is no symbol in front of your account total, your account is in a deficit.
The report only shows transactions that have cleared through the financial system and actually posted to the account. There might be transactions in process that are not included in this report.
Expected funding allocations from COSO or other sources might not have been transferred to the account yet. If there is a Funding Verification Form in your organization’s file, it is okay to access the funds even if they have not yet been credited.
During the “old fiscal year” closeout (in June) and the new fiscal year setup (in July), accounts are zeroed and reset for the new fiscal year. New fiscal year accounts will be up-to-date as time permits.
Most COSO organization accounts will be reset to zero for the new fiscal year. All funds received from COSO must be used in the same fiscal year they are received—any unused funds at fiscal year closeout will be returned to COSO.
Sometimes under special circumstances, funds from the old fiscal year can be carried forward to the new year. Self-supporting organizations automatically have funds carried forward to the new fiscal year. Funds for COSO organizations will not be carried forward unless a special exception is requested before the end of Spring term. A special exception can be approved if your organization has earned money through fundraisers that you would like to apply to events in the next fiscal year, or if there is a pending invoice payment that has not yet been completed.

Contact

If you have questions regarding your financial report, please come to 301C Collis Center, or email [email protected].