Fund Type Definitions

Fund Type Definitions

Budgeted Operations Fund Type 11:

Used to account for unrestricted resources that are available for current operations and are not accounted for as an Auxiliary or Service Department. Revenue sources include:

  • State appropriations
  • Student instruction fees
  • Sales and service income of educational departments
  • Investment income that is unrestricted and available for current operations
  • Indirect cost reimbursements

Expenditure functions are:

  • Instruction
  • Research
  • Public Service
  • Academic Support
  • Student Services
  • Operational and Maintenance of Plant
  • Institutional Support
  • Budgeted Reserves

Designated Operations Fund Type 12:

Account for self-sustaining student activities related to instruction, community education, public service, and scholarships. Examples include field trips, non-credit conferences, workshops, non-instructional camps or seminars offered to general public, theater and music activities, and financial aid funds generated from fund raising activities.

Service Departments Fund Type 13:

Account for activities established to provide services to other departments of the institution and are expected to be self-sustaining. Examples include Computer, Telecom, Printing, and Mail Services.

Clearing Funds Fund Type 14:

Accounts for recording revenues and expenditures that require further analysis to determine the final distribution to specific income and expense accounts. Clearing Funds must have a zero balance at the end of the each quarter and fiscal year.

Internal Bank Fund Type 15:

Accounts for the investment and debt activity of the UO, including the funding of capital projects from debt proceeds.

Housing Auxiliary Fund Type 21:

Auxiliary funds account for activities related to entities that have been specifically designated as auxiliary enterprises. An auxiliary enterprise is an entity that exists primarily to furnish services to students, faculty and staff. Housing funds are student auxiliaries that account for activities primarily intended to serve the student bodies' housing needs.

Student Centers/Activities Auxiliary Fund Type 22:

Auxiliary funds account for activities related to entities that have been specifically designated as auxiliary enterprises. An auxiliary enterprise is an entity that exists primarily to furnish services to students, faculty and staff. Student Centers/Activity funds are student auxiliaries that account for activities primarily intended to serve the student body. Examples include EMU, Career Planning, and Counseling Center.

Intercollegiate Athletics Auxiliary Fund Type 23:

Auxiliary funds account for activities related to entities that have been specifically designated as auxiliary enterprises. An auxiliary enterprise is an entity that exists primarily to furnish services to students, faculty and staff. Intercollegiate Athletics funds account for athletic activities in participation with other institutions.

Health Services Auxiliary Fund Type 24:

Auxiliary funds account for activities related to entities that have been specifically designated as auxiliary enterprises. An auxiliary enterprise is an entity that exists primarily to furnish services to students, faculty and staff. Housing funds are student auxiliaries that account for activities primarily intended to serve the student bodies' Health Services needs.

Parking Auxiliary Fund Type 25:

Auxiliary funds account for activities related to entities that have been specifically designated as auxiliary enterprises. An auxiliary enterprise is an entity that exists primarily to furnish services to students, faculty and staff. Parking funds are student auxiliaries that account for activities related to on campus parking needs.

Other Auxiliaries Fund Type 29:

Auxiliary funds account for activities related to entities that have been specifically designated as auxiliary enterprises. An auxiliary enterprise is an entity that exists primarily to furnish services to students, faculty and staff. Examples of other auxiliaries include Vivian Olum Child Development Center, Vending, and Library Copying.

Restricted Funds Fund Type 30:

Account for resources that are available for current operations, but are restricted to specific purposes by the donor, or the granting or contracting agency. Examples include grant funds limited to use for sponsored research and donated gifts with donor imposed restrictions.

Loan Funds Fund Type 41:

Used to account for resources available for loans to students and for the loans made to students. The three classifications of loan funds are:

  • Institutional loan funds - Gifts which the donor has specified are to be used for student loans.
  • Institutional matching loan funds - Institutional fund provided to match Federal government loans.
  • Government loan funds - Loan funds provided by Federal or State government. For example, National Direct Student Loans.

Unexpended Plant Funds Fund Type 81:

Accounts for resources that are available for capital additions and improvements. The principal revenue sources for unexpended plant funds are:

  • Building bond proceeds
  • State appropriations restricted to plant fund uses
  • Student building fees
  • Income from investment of unexpended plant funds
  • Grants from government agencies
  • Gifts restricted by donors to capital outlay
  • Building indirect cost recoveries
  • Contributions of building repair and equipment replacement reserves

Renewal & Replacement Funds Fund Type 83:

Part of Unexpended Plant Funds. Accounts for contributions to building repair and equipment replacement reserves made by departments in accordance with specific funding requirements.

Investment in Plant Funds Fund Type 87:

Accounts for the value of capital assets, the liability associated with those assets, and the net investment in capital assets. Net investment is the acquisition value less the outstanding liabilities. Capital assets include land, buildings, improvements other than buildings, and equipment and furnishings that are capitalized.

Agency Funds Fund Type 91:

Accounts for funds of external persons or organizations while the funds are in the custody of the institution. The institution acts only as a fiscal agent and the funds can be disbursed only as directed by the external person or organization.