1. Chart Field Combinations

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

3. Objectives Learn the basics of Fund Accounting Learn about GRU Funds Learn about Chart Field Combinations Learn the basics of accounting entries

4. Agenda Overview of Fund Accounting GRU Funds The concept of Chart Field Combinations and their purpose Basic accounting entries using funds and chart field combinations

5. Basics of Fund Accounting Governmental focus Self-balancing set of accounts per fund The basic accounting equation: Assets = Liabilities + Owner’s Equity +(Revenue-Expenses)

6. Fund Accounting and the Board of Regents Example: BOR Financial Statements GRU Financial Statements Fund 10000Fund 12000 UGA Financial Statements Fund 10000 Fund 20000

7. GRU Funds Unlimited number may be used; however, limited by practicality Other Chart Field Identifiers are used for reporting/further definition

8. What Are Chart Fields? The Chart Field Combination (CFC) is composed of: –Account Code –Fund –Department –Program –Class –Budget Period –Project/grant ID (if necessary) The term “Chart Field Combination” (CFC) is a standard PeopleSoft term.

9. What does the CFC tell us? The Chart Field Combination (CFC) are numerical characters that tell us: –What the funds were used for –Where the funds came from –Who (i.e. what school) the funds belong to

10. Account Codes The “What” Descriptor of the nature of the revenue, expense, asset, liability or net asset (fund balance) accounts

11. Account Codes 1XXXX – Assets 2XXXX – Liabilities 3XXXX – Net Assets, Reserves 4XXXX – Revenues 5XXXX thru 8XXXX – Expenses 9XXXX – Allocation Transfers

12. Fund Code The “Where” part I The source or nature of the item

13. Fund Groups Unrestricted – Operating (1XXXX) Restricted Purpose(2XXXX) Loan Funds(3XXXX) Endowment(4XXXX) Plant(5XXXX) Agency (funds held for others)(6XXXX) others)(6XXXX)

14. Department Code The “Who” First 2 digits represent a School or admin unit The next four digits are dept defined – generally a dept or program with the first 2 digits If the first of last digit is an “A”, it is an agency code

15. Program Code The “How” the funds are to be used Defined by the BOR Based on the NACUBO (National Association of College and University Business Officers) “functional” area

16. Program Code Overview Education & General-1XXXX Auxiliary Enterprises- 2XXXX Other-3XXXX

17. Program Code Detail Education and General Instruction11XXX Research12XXX Public service13XXX Academic support14XXX Student services15XXX Institutional Support16XXX Plant Operations17XXX Scholarships and Fellowships18XXX

18. Program Code Detail Auxiliary Enterprises Housing21XXX Food services22XXX Stores23XXX Health services24XXX Transportation and Parking25XXX Auxiliary Plant26XXX Other Organizations27XXX

19. Program Code Detail Other Patient care32XXX

20. Class Code The “Where” part II –Generally correlates with the Fund –Gives a more detailed “Where” than the Fund Detailed Source/Use of funds Used for both revenues and expenditures Unique to the State of Georgia

21. Class Code Examples: 11000 General Operations 19000 Dept Sales 41100 Dept Sales 61000 Sponsored Federal 61031 Federal Work Study 64060 Clinical Trials

22. Project/Grant ID Identifies a specific Sponsored agreement or a project Up to 15 digits in length Generally, if code starts with Alpha, it is a grant If it starts with numbers, generally it is a project

23. Project/Grant ID Examples: MERCK00001 – A Merck Pharmaceuticals Clinical Trial NHLBI0001 – An (NIH) National Heart, Lung and Blood Institute Grant VAMC0001 – A Veterans Affairs Medical Center IPA for Dr. Smith 0044008 – 28 th Annual Opthal Symposium

24. Budget Period The Year in which revenues, expenses, encumbrances originated

25. Basics of Accounting Entries Double entry –Use two columns and amounts are not distinguished by + or – Ex. Cost Transfer Form Debits and Credits –Whether a debit or credit increases or decreases a balance depends on the type of account

26. More Debits and Credits Example –Dividend, Expense, Assets, and Losses (DEAL): Debits increase while credits decrease the balance –Gains, Income, Revenues, Liabilities, and Stockholder’s Equity (GIRLS): Debits decrease while credits increase the balance.

27. Questions/Answers

28. References Websites –GRU Controllers Office http://www.georgiahealth.edu/finance/controll er/ http://www.georgiahealth.edu/finance/controll er/ http://www.georgiahealth.edu/finance/controll er/ –USG BOR Policy Manual http://www.usg.edu/business_procedures_ma nual/ http://www.usg.edu/business_procedures_ma nual/ http://www.usg.edu/business_procedures_ma nual/

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