Costs of a project that are on-budget. May include purchases of materials/equipment/personnel.

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Grace Bryant
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1 Term: Accounting All CATEGORY (11,2) Center Center Level Clearing Accounts Description: Frank Wilson, etc. Includes:OSP (ex: Liz Kirby)Accounting (ex: Frank Wilson)Provost (ex: Rosemary Wander) Financial type within class, for example, "Cash A/R", "Investments", "Accounts Payable" Where a focused research area or areas are concentrated in a school or between schools. Examples are: Justice Programs Office (JPO) and Center for Social Media (CSM) Derrick Cogburn Each school uses these differently. Definition: An account with no end date.in SPA Clearning Accounts are used primarily for Centers with multiple grants where labor effort is not pre-determined.in SETH Clearing Accounts are also used for pre-award expenses. Closed Project Cost Share DEPARTMENT (5,5) Dept. Level Direct Costs DIVISION (5,1) End Dates When is an account "officially" considered closed, and by whom / when?? The portion of the costs of a project that the University agrees to pay. Some grants have required cost share. Cost share committed by the University should be tracked by the PI, and is auditable.. (Example: NSF MRI) Department within school, for example, "Anthropology", "Athletics and Recreation". Department sometimes has a school but not always. Jan Post Costs of a project that are on-budget. May include purchases of materials/equipment/personnel. President/Vice president Level Project End Date: the date listed on the project brief, and specified by the sponsor, as the last day of activity on a project. All expenses must be incurred by this date. Accounting End Date: the date specified by the Accounting Office as the last day to submit charges incurred for a project. Normally 60 days after the Project End Date. Reporting End Date: the date specified by the sponsor when technical and financial reports are due to the sponsor. Normally 90 days after the Project End Date for Federal Grants.

area or areas are concentrated in a school or between schools. Examples are: Justice Programs Office (JPO) and Center for Social Media (CSM) Derrick Cogburn Each school uses these differently.

2 Federal Grant Foundation Grant General Ledger class General Ledger function General Ledger fund Grant awarded by federal agency. AU can claim 100% of the negotiated indirect rate on this type of grant. Grant awarded by a Foundation or other non-governmental agency. Often there are limits on the indirect costs that can be recaptured by AU on this type of grant. Position 11 of the General ledger code Financial type, for example, "Assets", "Liabilities", "Revenues", "Expenses" Position 4 of the General ledger code More detailed description of account description, for example, "Instruction", "Research", "Student Services" Positions 1-2 of the General ledger code Fund Accounting is the manner of organizing and managing accounting transactions by which resources for various purposes are classified for financial accounting and reporting purposes in accordance with activities or objectives as specified by donors, with regulations, restrictions, or limitations imposed by sources outside the University, or with directions issued by the University Trustees. A fund is an accounting entity with a self-balancing set of accounts consisting of assets, liabilities, and a fund balance. Separate accounts are maintained for each fund to ensure observance of limitations and restrictions placed on the use of the resources.all funds of the University are classified into major fund groups. The major fund groups of the University are its Current Funds, Loan Funds, Endowment and Similar Funds, Plant Funds, and Agency Funds. The current funds include those resources of the University expended for the purpose of performing the primary and supporting missions of the University. The term "current" means that the resources will be expended in the near term and that they will be used for the operating purposes of the University. Current funds are categorized into operating and nonoperating activities. The Current Funds group has three basic

Often there are limits on the indirect costs that can be recaptured by AU on this type of grant.

3 General Ledger object code General Ledger source code Grant Owner (duplicate with PI) The object code is positions 11 through 15 of the General Ledger code. The object classification of expenditures identifies that which is received in return for the expenditures. Object classification has importance as a tool for internal management and as a means for reporting to external users how resources were used. Below are the Commonly Used Object Codes FULL TIME FACULTY Salaries paid to full-time faculty members. To be considered full-time, a faculty member must be appointed to one of the ranks specified in the Faculty Manual, and must devote full service to University duties FULL TIME PROFESSIONAL Salaries paid, on a monthly basis, to full-time staff members who meet the professional classification requirements specified in the Personnel Policy Manual. These individuals are EXEMPT from the Federal and State rules covering hours worked and the payment of overtime FULL TIME BIWEEKLY STAFF Compensation paid, on a biweekly basis, to full-time staff members whose job is classified as NON-Exempt from Federal and State wage and hour rules. Generally, the employee works a set amount of hours per job shift or work week and earns an overtime rate for excess hours worked STUDENT WAGES Compensation to students working parttime in an administrative or academic unit. The wage is calculated at an hourly rate. For FEDERAL WORK STUDY use object code PROFESSIONAL SERVICES Expenses associated with professional services rendered by an individual, partnership or unincorporated Type of general ledger business entry. (e.g. Possible legal, management values are AA consulting, Actual Open Balance AB Approved Budget AE Encumbrance Open Bal BC Contingent Budget BU Budget Adjustments CA Capitalized Assets CD Cash Disbursments CR Cash Receipts DA Disposed Assets DP Deposit Allocation EN Payroll Encumbrance EP PO Encumbrance ER Requisition Encumber FA Financial Aid Transmittal FR Benefactor Import IC Inventory Chargeback IV Invoices JE General Journal OH Overhead Cost PA Payment Allocation PC Plant Chargeback PI Pooled Investment PJ Purchase Journal PR Payroll UA Depreciation YE Year-End Close Entry Typically Faculty to whom the Grants is assigned. Faculty member responsible for the $'s. resources and results included in the grant. (aka Principal Investigator)

Object classification has importance as a tool for internal management and as a means for reporting to external users how resources were used.

4 Grants Manager Serve as the liaison with OSP, Accounting Staff, and the Centers on all grant-related activitiy; post-award activity, compliance Communicate and coordinate administrative and grants management issues related to each respective center Aurora Carmichael Diana Dority Instructional Revenue Center (IRC) Overhead Costs A specialized and intensive course, or sequence of courses, offered on an experimental basis, or a program contracted by an outside agency to offer credit or noncredit training, which is closely related to the academic mission of the sponsoring teaching unit, and is designed primarily for an audience external to the existing student population. (Source: Budget office web site) The real value of the resources used in a grant-funded project but are not on-budget. Need to be tracked so we know how much is spent on what might be called the research enterprise at AU. Some call this indirect costs because this expenditure on research is ideally what the indirect rate on federal grants that is negotiated with the federal govt is based on. Power User A power user is a user who has the ability to use advanced features of a program which are beyond the abilities of "normal" users, but is not necessarily capable of programming (software develoment) and system administration. In enterprise software systems such as Oracle, SAP, or Microstrategy, this title may go to an individual who is not a programmer, but who is a specialist in a transaction or a business process. The "Super User" in enterprise programs (SAP, Oracle, Microstrategy) often refers to an individual who is an expert in a module or process within the enterprise system.

offered on an experimental basis, or a program contracted by an outside agency to offer credit or noncredit training, which is closely related to the academic mission of the sponsoring teaching unit,

5 Principal Investigator The researcher (usually a faculty member) whose research, creative, or other activities are supported by a grant. Sometimes referred to as Grant Owner. Mary Hansen Doug Fox Herman Schwartz PROJECT (17,5) Project Manager Specific Project Staff member (not a faculty member/principal investigator) who assists with purchasing, hiring, and reporting on the project. Angie McCarthy (WILP) Brady Williamson (WCRO) Research Assistant PROJECT TYPE (17,1) Provost Research Fellow?? SCHOOL (5,3) School Level Type of project, for example, "Sponsored" Rosemary Specific schools, for example, "Kogod School of Business", College of Arts and Sciences" (sponsored grants; not operating budget) Cathy Samuels Gamze Zeytinci Bill Brown Kristi Aurora SUBCLASS (11,3) TIME UNIT (4,6) USERS Financial type within category, for example, "Investment Income", "Contract Revenue" Different dates used by the University, for example, Fiscal Year, Academic Year, Calendar Year, Term, Quarter, Month, Week, Day Customers that use the system

the project. Angie McCarthy (WILP) Brady Williamson (WCRO) Research Assistant PROJECT TYPE (17,1) Provost Research Fellow?

Winthrop University Policies

Winthrop University Policies ISSUED: 10/2004 The University's most significant accounting policies are described below. FINANCIAL STATEMENTS The financial statements of Winthrop University are prepared