What is the difference between Level 1 and Level 2 budgets?
Level 1 budget accounts are high level budget categories that are roll-up placeholders for more detailed expenditures. (Level 1 budget accounts are highlighted in blue in the PeopleSoft Chart of Accounts. This listing is available at the system accounting website.) Level 2 budget accounts (highlighted in yellow on the chart of accounts) are more detailed than Level 1, but still have other revenue and expenditure accounts rolling up to them. In most instances, our campus budgets at Level 1. Only selected auxiliary or service operations are allowed to budget at Level 2.
