05.101 Explanation of University Fund Structure

Vice Chancellor of Business Affairs

Updated July 1, 2006; Updated November 1, 1986; Effective April 1, 1978; supersedes former Administration Policy No. ACG1.10, “Explanation of University Account Code Structure”

Office of State Controller, Office of State Budget and Management, UNC-Chart of Accounts, General Accepted Accounting Principles, Government Accounting Standards Board (GASB)

 N/A

Comptroller

Policy Details:

1. Purpose

   To provide guidelines to departments as an explanation of the logic used in the university's fund structure.

2. 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.

3. Policy

   A. Explanation of Fund Code Structure

   The fund is comprised of 38 digits divided into the following parts:

   1. Fund (6 digits)

   2. Organization (5 digits)

   3. Account (6 digits)

   4. Program (3 digits)

   5. Activity (6 digits) (Optional)

   6. Location (6 digits) (Optional)

   7. Index (6 digits) (Optional)

   1. Fund - identifies the fund as a General Ledger or Subsidiary Ledger for the source of funds

   2. Organization - identifies whose funds and the budget authority.

   3. 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

   4. Program - identifies purpose (why) funds spent/receipted

   5. Activity - identifies special events

   6. Location - identifies physical location of a fixed asset

   7. Index - shortcut identifier for speed data entry