Chart Field CombinationsChart Field Combinations

PurposePurpose

This session is designed to provide an This session is designed to provide an overview of Fund Accounting and its overview of Fund Accounting and its application at Georgia Regents University application at Georgia Regents University using Chart Field Combinations.using Chart Field Combinations.

ObjectivesObjectives

Learn the basics of Fund AccountingLearn the basics of Fund Accounting

Learn about GRU FundsLearn about GRU Funds

Learn about Chart Field CombinationsLearn about Chart Field Combinations

Learn the basics of accounting entriesLearn the basics of accounting entries

AgendaAgenda

Overview of Fund AccountingOverview of Fund Accounting

GRU FundsGRU Funds

The concept of Chart Field Combinations and The concept of Chart Field Combinations and their purposetheir purpose

Basic accounting entries using funds and chart Basic accounting entries using funds and chart field combinationsfield combinations

Basics of Fund AccountingBasics of Fund Accounting

Governmental focusGovernmental focus

Self-balancing set of accounts per fundSelf-balancing set of accounts per fund

The basic accounting equation:The basic accounting equation:Assets = Liabilities + Owner’s Equity +Assets = Liabilities + Owner’s Equity +

(Revenue-Expenses) (Revenue-Expenses)

Fund Accounting and the Fund Accounting and the Board of Regents Example:Board of Regents Example:

GRU FundsGRU Funds

Unlimited number may be used; however, Unlimited number may be used; however, limited by practicalitylimited by practicality

Other Chart Field Identifiers are used for Other Chart Field Identifiers are used for reporting/further definitionreporting/further definition

What Are Chart Fields?What Are Chart Fields?

The Chart Field Combination (CFC) is The Chart Field Combination (CFC) is composed of:composed of:– Account CodeAccount Code– Fund Fund – DepartmentDepartment– ProgramProgram– ClassClass– Budget Period Budget Period – Project/grant ID (if necessary)Project/grant ID (if necessary)

The term “Chart Field Combination” (CFC) is a The term “Chart Field Combination” (CFC) is a standard PeopleSoft term.standard PeopleSoft term.

What does the CFC tell us?What does the CFC tell us?

The Chart Field Combination (CFC) are The Chart Field Combination (CFC) are numerical characters that tell us:numerical characters that tell us:

– What the funds were used forWhat the funds were used for

– Where the funds came fromWhere the funds came from

– Who (i.e. what school) the funds belong toWho (i.e. what school) the funds belong to

Account CodesAccount Codes

The “What”The “What”

Descriptor of the nature of the revenue, Descriptor of the nature of the revenue, expense, asset, liability or net asset (fund expense, asset, liability or net asset (fund balance) accountsbalance) accounts

Account CodesAccount Codes

1XXXX – Assets1XXXX – Assets

2XXXX – Liabilities2XXXX – Liabilities

3XXXX – Net Assets, Reserves3XXXX – Net Assets, Reserves

4XXXX – Revenues4XXXX – Revenues

5XXXX thru 8XXXX – Expenses5XXXX thru 8XXXX – Expenses

9XXXX – Allocation Transfers9XXXX – Allocation Transfers

Fund CodeFund Code

The “Where” part IThe “Where” part I

The source or nature of the itemThe source or nature of the item

Fund GroupsFund Groups

Unrestricted – Operating Unrestricted – Operating (1XXXX)(1XXXX)

Restricted PurposeRestricted Purpose (2XXXX)(2XXXX)

Loan FundsLoan Funds (3XXXX)(3XXXX)

EndowmentEndowment (4XXXX)(4XXXX)

PlantPlant (5XXXX)(5XXXX)

Agency (funds held for Agency (funds held for

others)others) (6XXXX)(6XXXX)

Department CodeDepartment Code

The “Who”The “Who”

First 2 digits represent a School or admin First 2 digits represent a School or admin unitunit

The next four digits are dept defined – The next four digits are dept defined – generally a dept or program with the first 2 generally a dept or program with the first 2 digitsdigits

If the first of last digit is an “A”, it is an If the first of last digit is an “A”, it is an agency codeagency code

Program CodeProgram Code

The “How” the funds are to be usedThe “How” the funds are to be used

Defined by the BORDefined by the BOR

Based on the NACUBO (Based on the NACUBO (National National Association of College and University Association of College and University Business OfficersBusiness Officers) “functional” area) “functional” area

Program Code OverviewProgram Code Overview

Education & GeneralEducation & General -- 1XXXX1XXXX

Auxiliary EnterprisesAuxiliary Enterprises - - 2XXXX2XXXX

OtherOther -- 3XXXX3XXXX

Program Code DetailProgram Code DetailEducation and GeneralEducation and General

InstructionInstruction 11XXX11XXXResearchResearch 12XXX12XXXPublic servicePublic service 13XXX13XXXAcademic supportAcademic support 14XXX14XXXStudent servicesStudent services 15XXX15XXXInstitutional SupportInstitutional Support 16XXX16XXXPlant OperationsPlant Operations 17XXX17XXXScholarships and FellowshipsScholarships and Fellowships 18XXX18XXX

Program Code DetailProgram Code DetailAuxiliary EnterprisesAuxiliary Enterprises

HousingHousing 21XXX21XXX

Food servicesFood services 22XXX22XXX

StoresStores 23XXX23XXX

Health servicesHealth services 24XXX24XXX

Transportation and ParkingTransportation and Parking 25XXX25XXX

Auxiliary PlantAuxiliary Plant 26XXX26XXX

Other OrganizationsOther Organizations 27XXX27XXX

Program Code DetailProgram Code DetailOtherOther

Patient carePatient care 32XXX32XXX

Class CodeClass Code

The “Where” part II The “Where” part II – GenerallyGenerally correlates with the Fund correlates with the Fund– Gives a more detailed “Where” than the FundGives a more detailed “Where” than the Fund

Detailed Source/Use of funds Detailed Source/Use of funds

Used for both revenues and expendituresUsed for both revenues and expenditures

Unique to the State of GeorgiaUnique to the State of Georgia

Class CodeClass Code

Examples:Examples:

11000 General Operations11000 General Operations

19000 Dept Sales19000 Dept Sales

41100 Dept Sales 41100 Dept Sales

61000 Sponsored Federal61000 Sponsored Federal

61031 Federal Work Study61031 Federal Work Study

64060 Clinical Trials64060 Clinical Trials

Project/Grant IDProject/Grant ID

Identifies a specific Sponsored agreement Identifies a specific Sponsored agreement or a projector a project

Up to 15 digits in lengthUp to 15 digits in length

Generally, if code starts with Alpha, it is a Generally, if code starts with Alpha, it is a grantgrant

If it starts with numbers, generally it is a If it starts with numbers, generally it is a projectproject

Project/Grant IDProject/Grant ID

Examples:Examples:

MERCK00001 – A Merck Pharmaceuticals MERCK00001 – A Merck Pharmaceuticals Clinical TrialClinical Trial

NHLBI0001 – An (NIH) National Heart, NHLBI0001 – An (NIH) National Heart, Lung and Blood Institute GrantLung and Blood Institute Grant

VAMC0001 – A Veterans Affairs Medical VAMC0001 – A Veterans Affairs Medical Center IPA for Dr. SmithCenter IPA for Dr. Smith

0044008 – 280044008 – 28thth Annual Opthal Symposium Annual Opthal Symposium

Budget PeriodBudget Period

The Year in which revenues, expenses, The Year in which revenues, expenses, encumbrances originatedencumbrances originated

Basics of Accounting EntriesBasics of Accounting Entries

Double entryDouble entry– Use two columns and amounts are not Use two columns and amounts are not

distinguished by + or –distinguished by + or –Ex. Cost Transfer FormEx. Cost Transfer Form

Debits and CreditsDebits and Credits– Whether a debit or credit increases or Whether a debit or credit increases or

decreases a balance depends on the type of decreases a balance depends on the type of accountaccount

More Debits and CreditsMore Debits and Credits

ExampleExample– Dividend, Expense, Assets, and Losses Dividend, Expense, Assets, and Losses

(DEAL): Debits increase while credits (DEAL): Debits increase while credits decrease the balancedecrease the balance

– Gains, Income, Revenues, Liabilities, and Gains, Income, Revenues, Liabilities, and Stockholder’s Equity (GIRLS): Debits Stockholder’s Equity (GIRLS): Debits decrease while credits increase the balance.decrease while credits increase the balance.

Questions/AnswersQuestions/Answers

ReferencesReferences

WebsitesWebsites– GRU Controllers Office GRU Controllers Office

http://www.georgiahealth.edu/finance/controllhttp://www.georgiahealth.edu/finance/controller/ er/

– USG BOR Policy Manual USG BOR Policy Manual http://www.usg.edu/business_procedures_mahttp://www.usg.edu/business_procedures_manual/ nual/

ConclusionConclusion

This concludes This concludes Chart Field CombinationsChart Field Combinations

If you have any questions, you may contactIf you have any questions, you may contact– Laura Craft – lcraft@gru.edu, 706-721-6235Laura Craft – lcraft@gru.edu, 706-721-6235– Karen Castleberry – kcastleberry@gru.edu, 706-721-2135Karen Castleberry – kcastleberry@gru.edu, 706-721-2135– Barandy Brock – bbrock@gru.edu, 706-721-2903Barandy Brock – bbrock@gru.edu, 706-721-2903– Andrea Buchanan – abuchanan@gru.edu, 706-721-2136Andrea Buchanan – abuchanan@gru.edu, 706-721-2136– Julie Wilson – jwilson@gru.edu, 706-721-9179Julie Wilson – jwilson@gru.edu, 706-721-9179

Thank youThank you