To provide guidelines for requesting establishment of new University fund and/or changes to existing fund numbers.
Authority:
Vice Chancellor of Business Affairs
History:
Updated July 1, 2024; Updated July 1, 2006; Updated June 1, 2003; Updated October, 2002; Effective December 1, 1989, supersedes former Administration Policy No. ACG1.20, “Establishment of University Banner Fund”
Source of Authority:
Office of the State Controller, University of North Carolina Chart of Accounts
To provide guidelines for requesting establishment of new university fund and/or changes to existing fund numbers.
Scope
This policy applies to all university departments and activities
Policy
Definition
Budget Authority. The budget authority, as designated in Banner, is an individual who is fiscally responsible for ensuring that the use of funds are compliant with the fund's stated purpose. There should be no less than two budget authorities on each fund such as a business officer, department head, or other individual in the division. Approved transactions must withstand audit review and be compliance with university policies.
General Statement
A university fund number is used when it is necessary to separately identify funds because of legal restrictions, fiduciary requirements, or administrative designations. Additional data related to the fund number (including purpose, source of revenue, restrictions, and responsible individuals) is maintained as an integral part of the chart of accounts.
Establishment of New University Fund Numbers
All requests for establishment of a new university fund number must be made by one of the respective budget authorities and the Divisional Budget Officer (DBO) using the proper form (Banner Fund Establishment Form). If the DBO is one of the budget authorities, then a different budget authority must sign the form. Establishment of a grant fund must be initiated by the Sponsor Programs and Research Compliance Office using the established workflow process. Prior to fund establishment, the Controller, or their designee, must authorize the fund activity and approve the request form.
Requesting Changes to a Banner Fund
All requests to change a Banner fund, including the termination of a fund, must be submitted via the appropriate form (Banner Fund Change Request). Changes to a Banner fund may include but are not limited to, fund title change, budget authority change, or termination of the fund. For organization changes refer to the ORG Committee website for additional information and procedures. All Banner Fund Change Request forms must be approved by one of the budget authorities assigned to the fund. If the preparer is also one of the budget authorities, then a different budget authority must sign the form.
Prohibition Against Multiple Uses of Existing University Fund Numbers
Established fund numbers may only be used for the purpose set forth on the originally approved fund. A new request form must be submitted when revenues are received from sources that are not authorized for existing fund numbers or when expenditures are anticipated for purposes that have not been approved for existing fund numbers.
Approval or Denial of Request to Establish a Fund
University funds are established only when proper justification is provided concerning the need for the new fund number. Factors such as the level of funding, volume of transactions, or compliance with state regulations may justify the establishment of anew fund number. If the request is denied, the Controller's Office will provide specific reasons for this decision.
Information Access Available for Established Fund Numbers
If the request for the establishment of a new Banner fund number is approved, access to view fund activity may be granted upon request per UNCW policy 07.300.01 Identity and Access Controls.
Financial Reports - Individuals granted system screen access may view monthly and year-to-date financial reports via SSRS>Financial Reports>Campus Reports>Reconciliation Reports.
