05-101-explan_univfundstr.htm

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	05.101		EXPLANATION OF UNIVERSITY FUND STRUCTURE
	Authority:		Vice Chancellor of Business Affairs
	History:		Effective April 1, 1978; updated November 1, 1986; updated July 1, 2006; supersedes former Administration Policy No. ACG1.10, “Explanation of University Account Code Structure”
	Source of Authority:		Office of State Controller, Office of State Budget and Management, UNC-Chart of Accounts, General Accepted Accounting Principles, Government Accounting Standards Board (GASB)
	Related Links:
	Responsible Office(s):		Comptroller

I.			Purpose
		To provide guidelines to departments as an explanation of the logic used in the university's fund structure.
II.			Scope
			The fund structure explained herein is used for all major university funds. The fund and account structure adheres to the uniform University of North Carolina Chart of Accounts. Fund structure is designed to accommodate the financial reporting requirements of various agencies, and is flexible enough to provide the data needed for university internal financial reporting.
III.			Policy
			A.	Explanation of Fund Code Structure The fund is comprised of 38 digits divided into the following parts: Fund (6 digits) Organization (5 digits) Account (6 digits) Program (3 digits) Activity (6 digits) (Optional) Location (6 digits) (Optional) Index (6 digits) (Optional) Fund- identifies the fund as a General Ledger or Subsidiary Ledger for the source of funds. Organization- identifies whose funds and the budget authority. Account- identifies what type of balance sheet (assets and liabilities) account or operating ledger (expenditures or revenues) account . Designation as follows: Assets: 4XXXXX Liabilities 5XXXXX Revenues 1XXXXX Expenditures 9XXXXX Program- identifies purpose (why) funds spent/receipted . Activity- identifies special events. Location- identifies physical location of a fixed asset. Index- shortcut identifier for speed data entry .

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