FUND DEFINITIONS. Surpluses/deficits in fund 10 at the end of the fiscal year will be transferred into a project within fund 05.

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1 FUND DEFINITIONS Fund Number and Name Classification Fund Number and Name Classification 05 Carryover Internally 45 Other Operating - Projects Internally 10 Operating General Unrestricted 50 Externally Capital Externally 11 Internally Internally 60 Externally Externally 12 Internally Non- Internally 70 Externally Non- Externally 13 Internally Capital Internally 80 Endowments Externally 15 Ancillary Unrestricted Fund Number 05 Carryover 10 Fund Name Description and Purpose Eligible Sources Operating - General Carryover balances are calculated from the budget envelope less all direct and allocated net expenditures attributable to the unit at fiscal yearend within fund 10. At year-end the carryover balance is transferred to fund 05 The general operating budget supports the university's mandate of teaching, research (not funded through research agreements) and public service. It also supports administrative and other infrastructure costs for this mandate. Surpluses/deficits in fund 10 at the end of the fiscal year will be transferred into a project within fund 05. Transfer of carryover balances at yearend from fund 10 to fund 05 will be recorded within net asset accounts by Finance Services. 1) Provincial government operating grants, credit tuition and other funds which make up the central pool for purpose of Budget Envelope Allocations. 2) Directed Tuition, Credit courses. 3) Other Directed Revenues, including non-credit courses. 4) Investment Income. 5) Revenues and expenses from sales of goods/services to external parties and university departments/projects Nature of Use/Restrictions No spending permitted in this fund. Required to use the transfer (7xxxx) general ledger accounts. Project/Activity is not allowed. No restrictions as to how these funds are spent, as long as use complies with university policies and procedures and total expenditures do not exceed funds available. Subject to Carryover Funds Transfer & Other Rules No expense may be charged directly to fund 05. Transfers out of fund 05 to funds 10, 11, 12 or 13 will be done by way of journal entry using the transfer (7xxxx) general ledger accounts. All such transfers must meet transfer eligibility rules and are subject to appropriate review and approval. Actual surplus/deficit Carryover balances at fiscal year-end will be transferred by Finance Services from fund 10 to fund 05. Carryover balances are calculated from budget envelope less all direct and allocated net expenditures attributable to the unit at fiscal year-end. Funds may be transferred from fund 10 to fund 11, fund 12 or fund 13 if future activities have been internally restricted. All such transfers must meet transfer eligibility rules. may be recorded within fund 10. Fund Definitions v1.2 Aug 20, 2015.docx 1

2 where the activities are integral to the unit, and partially supported by operating funds. 6) Residual balance transfers from funds 45, 50, 60 or 70 are allowed if all restrictions have been removed by the contributor. Faculties or business units may transfer funds to fund 11 from fund 10 for future research related activities as specified by an agreement or contract. All such transfers must meet transfer eligibility rules. Funds must be used as stipulated in agreement or contract. 11 Internally The activities are funded by transfers by faculties and business units from funds 05, 10, 45, 50, 60 or 70 for the purpose of research related activities. 1) Funds internally restricted by an agreement or contract for specific research purposes, transferred in from Funds 10, 45, 50, 60 or 70. (e.g. Start-up research grants for new academic hires.) Amounts transferred from fund 50, 60 or 70 must first have had all restrictions removed by the contributor. 2) Carryover balances from fund 05 3) Revenues and expenses from sales of goods/services to external parties and university departments/projects. Not subject to Carryover Residual balances may be transferred to fund 11 from fund 50, fund 60 or fund 70 where the contributor has removed all restrictions. Residual balances may be transferred to Fund 11 from Fund 45. Revenues and expenses from sale of goods/services to external parties, university departments and/or projects such as lab services and other self-sustaining operations that: i) do not rely on support from the operating fund ii) generate sufficient sales revenue to cover costs iii) are not otherwise classified as U of C Ancillary departments may be recorded within fund 11 if they are research related. Fund Definitions v1.2 Aug 20, 2015.docx 2

3 Budgets will be required. Faculties or business units may transfer funds to Fund 12 from fund 10 for future non-research related activities as specified by an agreement or contract. All such transfers must meet transfer eligibility rules. Funds must be used as stipulated in agreement or contract. Residual balances may be transferred to fund 12 from fund 50, fund 60 or fund 70 where the contributor has removed all restrictions. 12 Internally Non- The activities are funded by transfers by faculties and business units from funds 05, 10, 45, 50, 60 or 70 for the purpose of non-research related activities. 1) Funds internally restricted by an agreement or contract for specific non-research purposes, transferred in from Fund 10, 45, 50, 60 or 70. Amounts transferred from fund 50, 60 or 70 must first have had all restrictions removed by the contributor. 2) Carryover balances from fund 05 3) PER Projects for Academic staff. 4) Revenues and expenses from sales of goods/services to external parties and university departments and/or projects. 5) Internally funded Scholarships and awards. Not subject to Carryover Residual balances may be transferred to Fund 12 from Fund 45. Revenues and expenses from sale of goods/services to external parties, university departments and/or projects such as lab services and other self-sustaining operations that: i) do not rely on support from the operating fund ii) generate sufficient sales revenue to cover costs iii) are not otherwise classified as U of C Ancillary departments may be recorded within fund 12 if they are not research related. Budgets will be required. Fund Definitions v1.2 Aug 20, 2015.docx 3

4 13 Internally Non- Capital The activities are funded by transfers by faculties and business units from fund 05 or fund 10 for the purpose of non-research capital related activities. 1) Funds internally restricted by an agreement or contract for specific non-research capital purposes, transferred in from fund 10. 2) Carryover balances from fund 05. 3) Residual balance transfers from funds 45, 50, 60 or 70 are allowed if all restrictions have been removed by the contributor. Not subject to carryover Faculties or business units may transfer funds to Fund 13 from fund 10 for future non-research capital related activities as specified by an internal agreement. All such transfers must meet transfer eligibility rules and are subject to appropriate review and approval. may be recorded within fund 13 if they are not research related. Budgets will be required. 15 Ancillary Sales of goods and services that are supplementary to the university s primary operating activities of instruction and research. Such sales may be made to the university community (staff and students) and/or to external clients. Ancillary operations must be self-sustaining (breakeven or generate a profit). University Bookstore, Microstore, Special Events, Parking and Transportation, Food Services, Residence, Conference Housing, International House, OVC Operations, Campus Card Office. Project/Activity may be allowed. Sales of goods and service activities must be self-sustaining and subject to approval from Financial Reporting. For self-sustaining operations (breakeven or generate a profit) where goods and services that are supplementary to instruction and research are sold. Ancillary operations must be approved by Financial Reporting. 45 Other Operating Projects Externally sourced funds that do not have specific externally-imposed restrictions. 1) Unrestricted donations. 2) Residual surplus amounts from completed externally restricted or Non projects. Not subject to Carryover Funds from external sources, with no restrictions or conditions for use, i.e. unrestricted donations or unspent residual balances from either fund 50, fund 60 or fund 70 where all restrictions have been removed by the grantor/donor. Fund Definitions v1.2 Aug 20, 2015.docx 4

5 3) Goods/services provided to external parties and other university departments under certain circumstances. 4) Overhead from non Tri-Council projects. Revenues and expenses from sale of services to external parties and other university departments such as lab services and other self-sustaining operations that: i) do not rely on support from the operating fund ii) generate sufficient sales revenue to cover costs iii) are not otherwise classified as U of C Ancillary departments Overhead amounts taken from non Tri-Council projects. Budgets will be required. Residual balances may be transferred to fund 10, 11, 12 or 13 from fund Externally Capital This fund is used to record all transactions applicable to donations and grants received for construction, minor capital, or equipment (other than research). The use of these funds is restricted by the external donor or granting agency. Externally restricted donations and grants received for capital endeavours. Transfer of revenue is permitted only within the same fund, or to fund 10, fund 11, fund 12, fund 13 or fund 45, if authorized by the granting agency and/or donor and if all restrictions have been removed. If funds are still subject to some restrictions, transfer to a new project within the same fund is allowed. 60 Externally External donations and grants received for research purposes. The use of these funds is restricted by the donor or granting agency. Externally restricted donations and grants received for research purposes. Funds must be from external sources for research related purposes, and have restrictions and/or conditions for use. Transfer of revenue is permitted only within the same Fund Definitions v1.2 Aug 20, 2015.docx 5

6 fund, or to fund 10, fund 11, fund 12, fund 13 or fund 45, if authorized by the granting agency and/or donor and if all restrictions have been removed. If funds are still subject to some restrictions, transfer to a new project within the same fund is allowed. 70 Other Externally This fund is used to record all transactions applicable to external donations, revenue contracts and grants received for non-research purposes. The use of these funds is restricted by the donor or granting agency. Externally restricted donations and grants received for non-research purposes. Funds must be from external sources for non-research related purposes, and have restrictions and/or conditions for use. Transfer of revenue is permitted only within the same fund, or to fund 10, fund 11, fund 12, fund 13 or fund 45, if authorized by the granting agency and/or donor and if all restrictions have been removed. If funds are still subject to some restrictions, transfer to a new project within the same fund is allowed. 80 Endowments This fund holds the principal and related investment income that has been endowed. The principal may not be spent. Endowment funds. Salary charges to this fund are not allowed. Endowments are restricted in nature in that the principal must be maintained in perpetuity. The use of investment income derived from the principal is restricted by the terms of the deeds that are established for each endowment. These principal funds may be established by directions from the donor or by decisions of the university. Fund Definitions v1.2 Aug 20, 2015.docx 6