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Funds at Oregon State University

Funds at Oregon State University. A FUND is a Revenue Source. What is a Fund?. A Fund is a set of self-balancing accounts segregated for a purpose. A Fund is the FOAPAL element which contains the assets, liabilities, revenues, expenditures, and balances of a specific revenue source.

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Funds at Oregon State University

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  1. Funds at Oregon State University A FUND is a Revenue Source

  2. What is a Fund? • A Fund is a set of self-balancing accounts segregated for a purpose. • A Fund is the FOAPAL element which contains the assets, liabilities, revenues, expenditures, and balances of a specific revenue source. • The Fund is a 6 digit field and is associated with a Fund Type (group). In the examples that follow in this and other presentations, “x” is used to represent either alpha or numeric characters.

  3. Fund Validation Table - FTVFUND • The form that lists all funds in the OSU Chart. • Information provided: • Fund Code • Fund Type • Fund Title • Data Entry code (Y = can post using Fund) • Status (A = active) • Effective and Termination Dates for posting to the Fund.

  4. Fund Code • The first digit of the fund indicates the fund function. For example, all Education & General funds begin with 0 and all Auxiliary funds begin with 1. • The second digit further defines the use or restrictions of the fund. For example, funds which begin with 05 are Designated Operation funds. • The remaining four digits identify the individual funding source.

  5. Fund Types • Fund Types separate resources by restrictions of how the assets can be used. • Major Fund Types are: • Types 11-14 Unrestricted Funds • Type 11 Budgeted operations • Types 12-14 Other unrestricted • Types 21 – 29 Auxiliary Funds • Types 31-39 Restricted Funds • Type 41 Loan Funds • Types 61 – 66 Endowment Funds • Types 81 – 87 Plant Funds • Type 91 Agency Funds

  6. Fund Type 11: Budgeted Operations • Funds available for current operations and mission of the university. • Generally, there are no external restrictions on expenditures. • Examples of Fund Codes for Fund Type 11: • 001100 Education & General Fund • 001801 OSU Cascades General Fund

  7. Fund Types 12–14: Other Unrestricted • Funds available for current operations and mission of the university for a specific purpose. • Generally, there are no external restrictions. • Examples of Fund Codes for Fund Types 12-14: • 05xxxx Designated Operations - testing/workshops • 09xxxx Service Centers

  8. Fund Types 21-29: Auxiliary • Funds of a self-support enterprise that provides services to students and others as individuals. • Primary fund groups for Fund Types 21-29: • 10xxxx Student Housing • 11xxxx Memorial Union • 12xxxx Athletics • 13xxxx Student Health Services • 14xxxx Parking Services

  9. Fund Types 31-39: Restricted • Funds limited by external funding source as to their use. These funding sources include federal or other sponsors, individual donors, or affiliated foundations. • Examples of Fund Codes for Fund Types 31-39: • Grants & Contracts (fund begins with alpha character) • Mxxxxx Gift/donor funds • FSxxxx OSU Foundation flow-through funds

  10. Fund Type 41: Loan • Funds that provide resources available to students. • Funds are managed jointly by the OSU Financial Aid & Scholarship Office and the Business Affairs Office. • Each fund stipulates who is eligible to receive the loan and the repayment conditions. • Example of Fund Codes for Fund Type 41: • 49xxxx Student Loans

  11. Fund Types 61-66: Endowment • Funds held and invested by the State of Oregon on behalf of OSU. • These can not be expended. • Investment earnings are posted to other funds and are restricted to expenditures designated by the terms of the donor. • Example of Fund Codes for Fund Types 61-66: • 60xxxx Endowment

  12. Fund Types 81-87: Plant • Funds committed for construction or acquisition of long-lived assets and major repairs. • Plant funds are separated into 4 subgroups: • 80xxxx-82xxxx Unexpended Plant funds • 83xxxx-84xxxx Renewal & Replacement funds • 85xxxx-86xxxx Retirement of Indebtedness • 890000 Investment in Plant

  13. Fund Type 91: Agency • Funds established for outside entities affiliated with and residing at OSU. • OSU is only the custodian of the funds. There is no institutional equity in these funds; expenses are not included in financials. • OSU payroll can not be paid using these funds. • Example of Fund Codes for Fund Type 91: • 92xxxx Student Campus Organizations

  14. Fund Title • Each fund has a title which starts with a three digit acronym indicating the budget authority of the fund. • Example: ZAR = University Operations SCI = College of Science • The remaining characters indicate the use of the fund. • Restricted grant fund titles contain the sponsor name as well as the principal investigator (PI) name.

  15. Fund Dates • Dates indicate when the fund is available for transaction processing. • The Effective date is the initial date transactions can be processed on the fund. • The Termination date closes the fund to further transactions.

  16. END Fund Codes at Oregon State University

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