A method of combining accounts for reporting purposes to compare account actuals, budgets, and variances.
The date financial activity is recorded in the general ledger.
Reflects revenue generated and expense paid. Does not include budget or encumbrances.
The allocation(s) of appropriated funding in a fiscal year (July 1 – June 30).
State funding appropriated for a specific purpose.
The amount by which actual expenditures within an appropriated funding source/budget roll-up account (e.g. Regular Salary or Other Expenses) exceed the appropriated budget.
January 1 – December 31
Activity that impacts fund balance or spending authority. For Budget: Debits increase spending authority; Credits decrease spending authority. For Actuals: Debits decrease fund balance; Credits increase fund balance.
Funds that are reserved for a future expense to avoid budget overspending.
Expenditure Item Date
The date the project-related expense occurred.
A period used for accounting purposes and preparing financial statements. University fiscal year is July 1 – June 30.
Represents a non-appropriated department ID’s available fund. Fund balance is like the cash balance associated with a bank account.
Funding Source (Segment String; FDCC)
A combination of segment values (fund, department, cost center, account, project, and supplemental codes) used to code transactions. Find a detailed description and most current list of all segment values here.
The official financial record used to create the University’s financial statements.
The date of invoice as provided by the vendor, or actual date of service (or an approximation if no exact value is given).
A document including the character, quantity, price, terms, nature of delivery, and other particulars of goods delivered or of services rendered.
An estimate of revenue and expenses for the fiscal year (July 1 – June 30).
Negative fund balance.
Funds generated through revenue sources such as sales, services, user charges or class fees.
Any item with a unit cost of less than $2,000 is not an asset. Any item that has a unit cost of more than $2,000 but a useful life of less than a year is not an asset.
Operating Expense (OE)
Expenses used for operations excluding payroll expenses and capital.
Designates the functionality of an expense by indicating the obligation or intended purpose of how the funds in the corresponding funding source must be used. Program codes include: Instruction, Research, Public Service, Academic Support, Libraries, Student Services, Institutional Support, Scholarships and Fellowships, Auxiliary Enterprises, Operation and Maintenance of Plant.
The amount awarded by a Sponsor.
The process of comparing transactions and activity to supporting documentation.
Taggable Asset Goods
Any item with a unit cost of $2,000 or more and that has a useful life or service period of more than one year. In addition, any donated item that has a fair market value of $2,000 or more at the time of donation and a useful life or service period of more than one year must be tagged.