Account classifies which asset, liability, equity (fund balance), expense, revenue or statistical account will be affected. Both budget-only and actual values have been established.
Designates the month of activity.
One numeric character, required when Project is used. The activity ChartField currently has no meaning for the University of Minnesota. Only the value of "1" is used.
Account values that are used on journal entries. Actuals provide information on a more detailed level than budget-only accounts
A cost that can be assigned to a project that meets a specific project objective based on relative benefits received. A cost may be allocable to a specific project but paid for by the University, depending on what the sponsor determines is allowable for a particular type of project.
A cost that can be charged to a project per sponsor guidelines. A cost may be allowable per sponsor guidelines, but if it does not meet any specific project objectives, it is not allocable.
Information attached to various ChartField values to aid in reporting, planning, and managing financial resources. Attributes are thus connected to journal entries without having to be keyed in. Function codes and Certified Approver InternetID (x.500) are examples of ChartField Attributes.
Budget Only Accounts
Account values that represent rollups of the actual account values, used for budget development and final budgeting only.
Chart of Accounts
A series of systematically classified financial values, compatible with an institution’s structure, and supporting central and distributed financial reporting.
ChartField 1 (CF1)
Ten characters, alphanumeric. CF1 is an optional, centrally defined field with a centrally defined rule set. This field may be used in conjunction with CF2 if a department needs more identifiers for reporting needs.
ChartField 2 (CF2)
Ten characters, numeric. CF2 is an optional field, defined at the department, college, or RRC level. This field may be used in conjunction with CF1 if a department needs more identifiers for reporting needs.
ChartField 3 (CF3) (FinEmplID)
Seven numeric digits, optional. Fin EmplID is an optional field to be used when the financial activity must be identified with a specific employee. Fin EmplID provides an additional level of detail below DeptID or Program, or cross-DeptID or cross-Program information pertaining to a single employee. Fin EmplID uses the employee ID number assigned by Human Resources.
A combination of ChartFields, usually including at a minimum Fund DeptID, Account, and usually Program or Project .
Combination Editing links ChartField combination values to create valid or invalid combinations for use on journal entries. The combination editing rules determine the combinations of ChartField values that will pass the journal editing process.
Two alpha characters, conditional. This ChartField is used whenever a Program and Project share costs. When applicable, the characters “CS” are entered in this field, which acts as a trigger to invoke the cost- sharing process. When CS is used, both a Program value and a Project value are required. This field cannot be used to share costs between two nonsponsored Program accounts.
Type of arrangement in which more than one party supports a project. University generally refers to cost sharing when looking at labor items. (See “Matching Funds.” See also “Cost Share ChartField.”)
Five numeric digits, required. DeptID is a required ChartField that answers the question, “What is the level of responsibility at which I need to be able to isolate a group of financial resources, employees, or academic programs to support effective management of financial, human, and academic resources?”
See ChartField 3.
Represents outstanding purchase orders and other commitments for materials or services not yet received.
Fiscal Year (FY)
Any 12-month period for which institution monitors its annual accountability. At the University, this period is July 1 – June 30.
Four digits, required attribute of Program or Project. Function indicates the purpose of a project or program. Function codes answer the questions, “What is the purpose of this activity?” or “How does this program or project accomplish the mission of the University?”
Four numeric digits, required. Fund indicates the individual or cumulative sources of funds, which may be restricted or unrestricted. Fund codes answer the question, “What broad restrictions or reporting requirements have been imposed on these funds?”
Money or property transferred to the University via a recognized University foundation that is not intended to result in direct economic benefit, goods, or services to the donor.
A pledge of support where the sponsor has little involvement and the Principal Investigator (PI) devises the project. Example: A sponsor requests proposals for projects involving the Americans with Disabilities Act. The PI proposes a project to devise an electric wheelchair, and it is funded without major revisions by the sponsor.
Provision of goods or services by a University unit to other University departments and colleges at approved rates, billed through the EFS.
Internet ID (X.500) User ID
Unique user name assigned to students, faculty, and staff at the University to use in accessing their centrally provided e-mail accounts and other electronic resources.
Type of arrangement in which more than one party supports a project. University generally refers to matching when looking at non-labor items. (See “Cost Sharing.”)
A level of rollup within a tree representing a categorization of values according to function, organizational structure, type, or other. Nodes are used for budgeting, reporting, and management.
Funds which are not administered by SPA, but either can 1) be used by the University at its own discretion because there are no external restrictions, or 2) may be used only in accordance with the purpose established by the funding source.
Project Costing Business Unit (PCBu)
Five alpha characters, required when Project is used. PCBU identifies the type of business for a project: sponsored project, or other type of project approved for use in the Projects Module. Examples for use of PCBU include: sponsored projects and Construction in Progress (CIP).
Principal Investigator (PI)
The individual responsible for the proposal and sponsored project.
Five characters, numeric or alphanumeric, required when Project is not used. Program describes the kind of activity. Most nonsponsored activities use the Program ChartField.
Eight numeric characters required on sponsored activity. Project represents a unique group of accounting transactions that are supported by the Financial System Project Costing Module. Only those activities managed in the Project Costing module use the Project ChartField. Each Project value has an attribute that identifies a Function code.
An externally funded activity that is governed by specific terms and conditions set by the sponsor. These typically require financial or technical reporting to the sponsor and are administered through Sponsored Projects Administration (SPA).
The functional hierarchy in the financial system that displays the relationship between all accounting units (for example, divisions, projects, reporting groups, account numbers) and determines rollup hierarchies.
The University’s primary business unit.
A cost that cannot be charged to a project per sponsor guidelines.
A generic term referring to a portion of a college, department, or campus. A unit may or may not be equal to a DeptID.
X.500 User ID (Internet ID)
See Internet ID. X.500 is a very old term and should not be used, no matter how frequently you may hear it used.
Acronyms (just a few)
|BU||Business Unit, when in reference to finance OR Bargaining Unit, when in reference to human resources|
|COA||Chart Of Accounts|
|CUFS||College And University Financial System, legacy system no longer available|
|DWFS||Data Warehouse Financial System, CUFS data (legacy system data, pre-2008)|
|EGMS||Electronic Grants Management System|
|F&A||Facilities And Administration costs, aka ICR or Indirect Cost Recovery|
|FICA||Federal Insurance Contributions Act Employer Paid Contribution|
|FIN||Federal Identification Number|
|FMLA||Family Medical Leave Act|
|FOB||Freight On Board Or Free On Board|
|HCM||Human Capital Management|
|HRMS||Human Resources Management System|
|I-9||Employment Eligibility Verification|
|IBC||Institutional Biosafety Committee|
|IRB||Institutional Review Board (For Human Subjects Research)|
|IRR||Institutional Research And Reporting|
|IRS||Internal Revenue Service|
|ITIN||Individual Tax Identification Number|
|MSRS||Minnesota State Retirement System|
|MTA||Material Transfer Agreement|
|MTDC||Modified Total Direct Costs|
|NACUBO||National Association Of Colleges And Universities Business Officers|
|NOGA||Notice Of Grant/Contract Award|
|OIT||Office Of Information Technology|
|OMB||Office Of Management And Budget, an agency of the federal government|
|OPAS||Organizational Prior Approval System|
|OVPR||Office Of The Vice President For Research|
|P&A||Academic Professional And Administrative|
|RFP||Request For Proposal|
|RRC||Resource Responsibility Center|
|RSPP||Research Subjects’ Protection Programs|
|SEOG||Supplemental Educational Opportunity Grant|
|SFR||Office Of Sponsored Financial Reporting|
|SPA||Sponsored Projects Administration|
|SQL||Structured Query Language|
|SRENCA||Statement Of Revenues, Expenses, And Changes In Net Assets|
|SSN||Social Security Number|
|TIN||Taxpayer Identification Number|
|TIP||Temporary Investment Pool|
|UMF||University Of Minnesota Foundation|
|W4||Employee Withholding Allowance Certificate|
|WBOB||West Bank Office Building|
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