Activities are at the core of the university’s accounting for day-to-day activity and serve as the primary organizing mechanism for housing financial transactions for a particular activity. Activities are classified according to their sources of funding. Among other things, that classification governs how activities are established and attributes, such as name or financial group, are changed.
Current funds account for all budget and spending which has been allocated from unrestricted operating revenue by the Board of Trustees during the university’s annual budget process. All operating funds use general ledger fund codes that begin with the number 1, Unrestricted General Funds.
New operating funds may be requested using the form Request for New Operating Activity. Changes in attributes for operating activities may be requested using the form Request to Change Established Activity String Attribute.
Restricted funds account for spending from gifts to the university (GL fund codes beginning with 31), from funding distributed from the university’s endowment (32), or from funds for sponsored projects provided by private (non-governmental) foundations (25). In each case, spending from these activities is restricted to purposes stated by donors’ wishes or by funding agreements from the private foundations
Requests for new gift (31) and endowment-funded (32) activities must be made using the Restricted Gift Fund Request Form. Changes to existing activity attributes may be made by using the Request to Change Established Activity String Attribute. Requests to establish new fund 25 activities and changes to existing fund 25 activities must be made through the Office of Research Services and Sponsored Projects.
Grant activities account for expenditures from funds received by the university from governmental agencies for specific projects. Restrictions are established by the grantor as part of the grant award. The fund number for these activities will begin with the number 2 in the GL Account.
All new grant activities and changes in activity attributes must be requested through the Office of Research Services and Sponsored Projects.
Agency activities (those beginning with fund 83 in the GL Account) account for cash inflows and outflows in which the University serves as a custodian or fiscal agent for the activity. Revenues and expenses are not included in the university’s financial statements, but the university is required to demonstrate accountability over the funds.
All requests for new agency activities must be made using the New Agency Fund Form.
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