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Guidelines for Estimating Beginning Balance Accounts

If your unit is the Fund Owner of a Non-centrally Controlled Fund, a determination should be made regarding the amount of Beginning Balance anticipated for the new fiscal year.  This estimate is calculated by identifying the current balance on the fund, adding to this amount any revenue expected to be received before the year ends, and subtracting any expenses that will probably occur before year end.

It is important to note that this amount will not reside in MAP as a revenue budget or any other type of budget value. Not until the old year closes and the ending balance (net of assets and liabilities) for the old year is final will this value be obtainable from MAP. This is possible because the ending balance for the old year at that point is a historical value and no longer an estimate.The old year ending balance becomes the new year Beginning Balance.

Each unit that is a Fund Owner of one or more Non-centrally Controlled Funds will receive, in a separate distribution, a worksheet to be used in anticipating the FY beginning balance for each owned fund. Detailed instructions will accompany the worksheet at that time.