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It describes the report structure, including spend and revenue YTD, encumbrances, full-year budget loads, and variance comparison columns. The guide specifies which variances require budget manager explanations, the tolerance thresholds, required content for operational change and risk assessment, and where to enter explanations. It also outlines dashboard navigation, report filtering to lower departments, and optional Excel export workflow.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/university-of-massachusetts-boston-variance-report-guide-instructions/162191/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/university-of-massachusetts-boston-variance-report-guide-instructions/162191.png","ImageObject",442,249,{"name":88,"@type":89},"Genevieve","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/vnd.openxmlformats-officedocument.wordprocessingml.document","2026-09-20","2026-08-30",true,{"@type":98,"interactionType":99,"userInteractionCount":79},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"When are variance report templates delivered to budget managers?","Question",{"text":108,"@type":109},"Variance reports are automatically delivered at the end of each quarter by an automated mailer generated from the Summit system. Budget managers can also access the reports directly in Summit for analysis.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What key information does each variance report template include?",{"text":113,"@type":109},"Each report includes spend and revenue year-to-date for the current year and prior year, expense encumbrances year-to-date, full-year budget load at report time, and multiple columns comparing current year actuals, encumbrances, and budget variances (including variance percentages).",{"name":115,"@type":106,"acceptedAnswer":116},"What variances require an explanation and what should explanations include?",{"text":117,"@type":109},"Explanations are required for variances exceeding +/- $10,000 and 10% for current year YTD actuals versus the current year YTD budget or prior year YTD actuals, and for variances beyond budget tolerance for YTD actuals and encumbrances versus the current year full-year budget. 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Users can also access the variance report in the Summit system to analyze the data and break it down to lower department levels if desired.\nOverview\nVariance reporting templates provide a few key pieces of information.  Each report comes complete with spend and revenue year-to-date (YTD) for this year and prior year, and expense encumbrances YTD.  There is also the full year budget load at the time of the report.  Lastly, there are columns showing current year YTD actuals vs prior year YTD actuals, current year YTD actuals and encumbrances vs. current year full year budget, and current year YTD actuals vs a current year YTD budget.  The current year YTD budget is calculated by using prior year expense trends vs. the current year full year budget, for the final quarter of the year (Q4) the YTD budget is equal to the full year budget.\nFunds included are as follows:\nState/Tuition/GOF\nNTT\nRTF\nESS\nLab Fees\nParking Operations\nVariance Explanation Guidelines\nThe variance reports have a specific structure and indicate which variances require explanation.  The columns in the reports are:\nCollege/Unit\nBudget Area\nFund\nAccount Group (sometimes referred to as subsidiary)\nPrior Year YTD actuals (Expressed as FYXX QX)\nPrior Year Full Year actuals (Expressed as FYXX)\nCurrent Year YTD (Expressed as FYXX QX)\nCurrent Year YTD Budget (Expressed as FYXX QX Budget)\nCurrent Year YTD Encumbrance (Expressed as FYXX QX Encumbrance)\nCurrent Year Full Year Budget (Expressed as FYXX QX Budget)\nCurrent Year YTD Budget Variance (Expressed as FYXX QX Budget Variance)\nCurrent Year YTD Budget Variance % (Expressed as FYXX QX Budget Variance %)\nCurrent Year Committed vs Current Year Budget (Expressed as FYXX Committed vs FYXX Budget)\nThis field shows an area’s expenses and encumbrances YTD vs the full year budget\nCurrent Year YTD Budget Explanation Required (Expressed as FYXX QX Budget Explanation required)\nThis field will either read yes or no.  If yes explanation is required.\nCurrent Year YTD Budget Explanation (Expressed as FYXX QX Budget Explanation)\nThis field will always appear blank, it is where the budget managers will enter an explanation if required.  Areas explain YTD actuals vs the calculated YTD budget here.\nCurrent Year YTD vs Prior Year YTD Explanation required (Expressed as FYXX QX Explanation required)\nThis field will either read yes or no.  If yes explanation is required.\nCurrent Year YTD vs Prior Year YTD Explanation (Expressed as FYXX QX Explanation)\nThis field will always appear blank, it is where the budget managers will enter an explanation if required.  Areas explain YTD actuals vs the same period in the prior year here.\nFull Year Budget Explanation Required\nThis field will either read yes or no.  If yes explanation is required.\nFull Year budget Explanation\nThis field will always appear blank, it is where the budget managers will enter an explanation if required.  Areas will explain current year expenses and encumbrances YTD vs the full year budget here.  In Q4 this is duplicative with the Current Year YTD Budget Explanation field.\nThe criteria for explanation for current year YTD actuals vs current year YTD budget or prior year YTD actuals is any variance exceeding +/- $10,000 and 10%.  The criteria for explanation of current year YTD actuals and encumbrances vs current year full year budget is any variance that exceeds budget tolerance.\nVariance explanations should include some sort of operational change, not simply just re-hashing the decrease/increase amount but rather pointing out specific operational differences vs the prior year/current year budget.  The explanation should also include whether or not a budget area believes the variance shows a risk in the current year or potential future years to achieving b","cbCaieOknQ8D7cGa","https://ap.wps.com/l/cbCaieOknQ8D7cGa","docx",1365205,8,"English","# Timeline\n# Overview\n# Variance Explanation Guidelines\n## Fields in the variance report\n## Explanation criteria and content requirements\n## Submission and Excel workflow\n# Summit Variance report dashboard\n## Accessing quarterly reports\n## Filtering and exporting","[{\"question\":\"When are variance report templates delivered to budget managers?\",\"answer\":\"Variance reports are automatically delivered at the end of each quarter by an automated mailer generated from the Summit system. Budget managers can also access the reports directly in Summit for analysis.\"},{\"question\":\"What key information does each variance report template include?\",\"answer\":\"Each report includes spend and revenue year-to-date for the current year and prior year, expense encumbrances year-to-date, full-year budget load at report time, and multiple columns comparing current year actuals, encumbrances, and budget variances (including variance percentages).\"},{\"question\":\"What variances require an explanation and what should explanations include?\",\"answer\":\"Explanations are required for variances exceeding +/- $10,000 and 10% for current year YTD actuals versus the current year YTD budget or prior year YTD actuals, and for variances beyond budget tolerance for YTD actuals and encumbrances versus the current year full-year budget. Explanations must describe operational changes and whether the variance indicates risk to meeting current or future budgets.\"}]","University of Massachusetts Boston - Variance Report Guide & Instructions | DOCX"]