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THE COLOR OF MONEY FUND U $ E

This article provides an overview of fund groups and their uses, restrictions, and designations. It covers important concepts and definitions related to funds, including current funds, core funds, and other current funds. It also discusses the restrictions and regulations associated with fund expenditures.

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THE COLOR OF MONEY FUND U $ E

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  1. THE COLOR OF MONEYFUND U$E Sandra Perez Alan Williams

  2. Agenda Questions [Parking Lot] Review [Important Concepts and Definitions] Fund Groups Fund Uses Restrictions & Designations

  3. QUESTIONS[Parking Lot] ???

  4. REVIEW • FUND: An income source established for the purpose of carrying out specific activities in accordance with special regulations, restrictions or limitations. • 5 digit number assigned - identifies the source of the funds. • The sponsoring agency specifies the terms and conditions of the Funding.

  5. FUND GROUPS

  6. CURRENT FUNDS (1)

  7. CURRENT FUNDS (2) • Group of funds expendable for operating purposes in support of the institution’s mission; expected to be spent in the near term • Unrestricted[e.g. *General Funds*, Tuition, Unrestricted Gifts] • Restricted [e.g. Lottery Funds, State Special Funds for Research, Restricted Gifts] • Designated [e.g. SSF, SMH, *SGFs*: 19903, 19906, 19912, 19924, 19948, 19969, 19955, 19956]

  8. CORE FUNDS • State General Funds: • 19900 – General Fund • 19903, 19906,19912,19924,19948,19969,19973, 19955, 19956 • UC General Funds: • 19933 – UCGF – FICR • 19942 – Nonresident Supplemental Tuition • 19931,19932, 19934, 19941 • Tuition & Fees: • 20095* - Tuition • 20000/20005 – Student Services Fee/Student Mental Health • 20045 – Professional Degree Supplemental Tuition [Technology Management] • 20293 – Summer Session – UC Matriculated Students

  9. EXTENDED - CORE FUNDS [ICR] • Federal Indirect Cost Recovery: • 19933 – UC General Fund [FICR] • 07427 – Opportunity Fund • 69750 – Off the Top • 69763 – Garamendi • State Indirect Cost Recovery: • 19933 – UC General Fund [SICR] • Private Contracts & Grants Indirect Cost Recovery: • 05397 – Educational Fund [PICR]

  10. CORE FUNDS USES Provide permanent funding for UC’s core mission and support activities. These include: • Faculty Salaries and Benefits • Academic and Administrative Support • Student Services • Operation & Maintenance of Plant • Financial Aid Core Funds ≠ Free Benefits

  11. SGFs RESTRICTIONS • No Auxiliaries and Intercollegiate Activities Expenditures [State Budget Act] • No Alcoholic Beverages & Tobacco Expenditures [BFB BUS-79] • Restrictions for Capital and Deferred Major Maintenance • Only Projects Per Capital Plan & DM Plan - Approved by State Department of Finance • Entertainment & Travel [except per policy approval, BFB BUS-79] • Gifts to non-university individuals & organizations [except to a student for academic achievement, BFB-G-42] • No Student Services Support Activities (Function 68) [OP Funding Streams Technical Instructions]; Exception - Fund 19912 & 2016-17 LCFF Funding

  12. TUITION RegentalPolicy: “To fund student financial aid and related programs: admissions, registration, administration, libraries, and operation and maintenance of plant. Tuition may be used for general support of the University's operating budget. Revenue from Tuition may be used to fund all costs related to instruction, including faculty salaries. “ Designation: Financial Aid Restriction: No Capital Funding

  13. STUDENT SERVICES FEE/SMH RegentalPolicy: “Income generated by the Student Services Fee (formerly referred to as the University Registration Fee) shall be used to support services and programs that directly benefit students and that are complementary to, but not a part of, the core instructional program. These services and programs include, but are not limited to, operating and capital expenses for services related to the physical and psychological health and well-being of students; social, recreational, and cultural activities and programs; services related to campus life and campus community; technology expenses directly related to the services; and career support.” Designations: Student Support Svcs, Student Mental Health, and Financial Aid Restriction: No expenditures for Core Instructional Program

  14. OTHER CURRENT FUNDS [Not CORE] • Other Restricted State Funds [Lottery Funds and Research Grants: Tobacco, Aids, etc.] • Other Fees: • Campus Based Fees • Extension • Course Materials • Miscellaneous • Other Income Funds & Services • Sales & Services [Educational Activities] • Sales & Services [Auxiliary Enterprises] • Gifts & Endowments • Extramural Funds

  15. RESTRICTED FUNDS State Special Lottery Funds: (18082, 18084, 18086) -- For Instruction and Instructional Support Activities State Special Funds: (18XXX) -- For Specific Research Activities Restricted Contracts & Grants & Some Gifts -- Per Grantor and Donor specified instructions. Extramural Funds -- Contracts & Grants for Specific Research Activities

  16. CALIFORNIA LOTTERY FUNDS California State Lottery Act of 1984states “that all funds allocated from the California State Lottery Education Fund shall be used exclusively for the education of pupils and students and no funds shall be spent for acquisition of real property, construction of facilities, financing of research, or any other non-instructional purpose.” • FUNDS: 18082, 18083, 18084, 18085, 18086 • USES: • Instructional Computing • Instructional Equipment • Instructional Support • Library Support • Science and Math Initiative

  17. SUMMARY • RESTRICTIONS: GAAP; Legislative Acts; University Policy • DESIGNATIONS: Specific Set-asides or Agreements between funding and receiving entities • RULE OF THUMB: • If in doubt, consult with Accounting, Budget Office; or research policies and campus pronouncements. • Think about how it would sound as a headline in the newspapers

  18. QUESTIONS • Use of Summer Session [20293] Funding: 20293 is Tuition from Summer Session and has the same use and restrictions as regular Tuition, fund 20095. NO research, Sales & Services [Auxiliaries], and Capital expenditures are allowed. • 18082 is one of the Lottery Funds: Lottery funds are designated for Instruction and Instructional Support activities. Research is prohibited => no accounts in 44xxxx or 59xxxx. Therefore, IRCA expenditures are disallowed if the costs are going to hit accounts in research function accounts [44-59xxxx]. • UNEX [University Extension]: Funding from Extension Courses is not considered core funding. Funding from these fees is to support the programs. • NSFAS [Non-State Funded Administrative Support]: Assessment to non-state funded units for campus overhead [Administrative Support]. • STIP [Short Term Investment Pool]: Interest earned from short term cash investments. It is highly discretionary funding. • Income Funds: Departments need to be clear what the income fund is for [source and uses]. If unrestricted, it can be used to fund shortfalls in other funds in the same or similar Fund Group.

  19. REFERENCES 2016 CA Budget Act: https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201520160SB826 UC Budget for Current Operations: http://ucop.edu/operating-budget/_files/rbudget/2016-17budgetforcurrentoperations.pdf Regent Policy 3101: [A. Tuition; B. Student Services Fee] http://regents.universityofcalifornia.edu/governance/policies/3101.html Gifts: http://www.bfs.ucsb.edu/extramural-funds/gifts Endowments: http://www.bfs.ucsb.edu/extramural-funds/gifts Capital Funding: Contact Mark Nocciolo, Mark.Nocciolo@ucsb.edu [805-893-2491] Business & Financial Services: http://www.bfs.ucsb.edu/controller/resources Health Sciences Faculty Salary: http://www.ucop.edu/academic-personnel-programs/_files/apm/apm-670.pdf OP Contracts & Grants Policy: http://www.ucop.edu/research-policy-analysis-coordination/resources-tools/contract-and-grant-manual/index.html OP Business and Financial Bulletins: http://policy.ucop.edu/manuals/business-and-finance-bulletins.html • A Series – Accounting [e.g. A-47 Direct Costing Procedures] • G Series – General [e.g. G-42 Policy on Gifts Presented to Non-Employees on Behalf of University] • BUS Series – Business Affairs [e.g. BUS-79 Expenditures for Entertainment, Business Meetings and Other Occasions]

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