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Chapter 5 Chart of Accounts and Accounting Structure

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Chapter 5 Chart of Accounts and Accounting Structure

    UNIVERSITY OF COLORADO AT BOULDER

    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

    TABLE OF CONTENTS - CHAPTER 5

    I. CHAPTER 5 CHART OF ACCOUNTS ..................................................... 1 II. CHARTFIELDS ...................................................................................... 1 A. Business Unit ChartField: Default ............................................................. 1 B. FOPP .................................................................................................... 1 C. Fund ChartField: 2 Digits, Required, Input By User ..................................... 2 1. Fund .............................................................................................................. 2 2. Fund Group ..................................................................................................... 2 D. Organization ChartField: 5 Digits, Required, Input by User ............................ 3 E. Program/Project ChartField: 5 Digits, Required, Input by User ............................... 4 1. Program ......................................................................................................... 4 2. Project/Grant .................................................................................................. 5 F. Sub-Class ChartField: Not Required .......................................................... 5 G. Account ChartField: 6 Digits, Required, Input By User ................................. 5 1. Asset Account Range: 000000-099999 ............................................................... 5 2. Liability Account Range: 100000-199899 ............................................................ 5 3. Fund Balance/Net Assets Account Range: 199900-199999 ................................... 6 4. Revenue Account Range: 200000-399999 .......................................................... 6 5. Expenditure Account Range: 400000-989999 ...................................................... 6 6. Transfer Account Range: 990000-999999 ........................................................... 6 H. Budget Year: Default .............................................................................. 6 I. Statistics Code: Not Required .................................................................. 6 J. Currency Code: Default ........................................................................... 7 K. Sample FOPPS ....................................................................................... 7 L. SpeedType: 8 Digits ............................................................................... 8

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    CHAPTER 5: CHART OF ACCOUNTS 10/09

    UNIVERSITY OF COLORADO AT BOULDER

    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

    I. CHAPTER 5 CHART OF ACCOUNTS The purpose of this chapter of The Guide is to provide information about the

    coding structure that constitutes the Chart of Accounts for the University of

    Colorado as utilized by the Finance System.

    II. CHARTFIELDS

    The financial system coding structure for the University of Colorado is made up of

    ten blocks of information called ChartFields. These ChartFields can be joined

    together in various combinations to tell the Finance System where to record a

    transaction. The entire ChartField is as follows:

    1. Business Unit

    2. Fund

    3. Organization

    4. Program

    5. Project/Grant

    6. Sub-Class

    7. Account

    8. Budget Year

    9. Statistics Code

    10. Currency

It is not necessary to enter data into all ten ChartField values for every transaction.

    The Chart of Accounts is accessible from the System Controller’s website at

    http://www.cu.edu/System_Controller/fin-system-info.html. From there, scroll to

    Chart of Accounts (Full version formatted for MS Excel), and select it.

A. Business Unit ChartField: Default

    The Business Unit is an entity created to accommodate different operating

    rules, reporting rules, and regulations. UCOLO is the business unit used by all

    campuses of the University of Colorado. Using the Business Unit ChartField

    within a FOPPS is mandatory. Since the Business Unit ChartField of UCOLO

    is a default value within The Finance System, it never needs to be entered

    manually when doing online data entry.

B. FOPP

    The FOPP, which stands for Fund, Organization, Program or Project, serves as

    the central element of the Finance System coding. This Fund/Org/Program or

    Project combination describes a functional unit that has been established for a

    specific purpose within the university. Each FOPP has a designated individual

    who holds responsibility for overseeing the transaction activity and financial

    health of the FOPP. FOPPs are used to maintain the financial records of a unit

    or activity within the university.

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    10/09 CHART OF ACCOUNTS: CHAPTER 5

    UNIVERSITY OF COLORADO AT BOULDER

    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

    The FOPP is typically a 12 digit number that includes a two digit fund code, a

    five digit organization code, and a five digit program code. For every Boulder

    campus FOPP, the five-digit organization will always begin with a 1.

    Note: A FOPP in Fund 30 contains a seven-digit project code in lieu of the

    five-digit program code.

The FOPP describes either:

    ? What type of money (Fund) is being received by whom (Org) on what

    type of activity (Program) or,

    ? What type of money (Fund) is being spent by whom (Org) on what

    type of activity (Program)

    C. Fund ChartField: 2 Digits, Required, Input By User

    The Fund ChartField contains values that broadly classify types of funding.

    This ChartField identifies the type of money being received or the type of

    money being spent. Using the Fund ChartField within a FOPP is mandatory.

1. Fund

    A Fund is a self-balancing set of records that includes assets, liabilities,

    revenue, expense, and fund balance.

2. Fund Group

    A Fund Group is a collection of funds that have a common purpose. The

    Fund Group is used to identify a general classification of resources. CU-

    Boulder uses the following Fund Groups in its Finance System.

    ? 10 Unrestricted General Fund Appropriations

    ? 11 Unrestricted General Fund ICR

    ? 20 Auxiliary Fund TABOR Enterprise

    ? 26 Auxiliary Fund Exempt

    ? 28 Auxiliary Fund Internal Service Unit

    ? 29 Auxiliary Fund Non-Enterprises

    ? 30 Restricted Fund Sponsored Federal, State, Private

    ? 34 Restricted Fund Gift

    ? 50 Loan Fund

    ? 71 Unexpended Plant Fund Capital Construction Exempt

    ? 72 Unexpended Plant Fund Renewal & Replacement Exempt

    ? 73 Retirement of Indebtedness Plant Fund Exempt

    ? 74 Invested in Plant Fund

    ? 78 Unexpended Plant Fund Auxiliary Renewal & Replacement

    ? 80 Agency Fund

    ? 99 Presentation Fund GASB 34-35 Reporting

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    CHAPTER 5: CHART OF ACCOUNTS 10/09

    UNIVERSITY OF COLORADO AT BOULDER

    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

    D. Organization ChartField: 5 Digits, Required, Input by User

    The Organization ChartField identifies the entity (campus, school, department,

    etc.) receiving or spending the funds. The first digit of the Organization

    ChartField represents the respective University of Colorado campus as follows:

    1. Boulder

    2. Health Sciences*

    3. Denver*

    4. Colorado Springs

    5. System

    6. UCD*

* The identifier for the consolidated Denver and Health Sciences Center

    campus is ―6 and ―UCD‖ includes both campuses. Organization numbers

    created for the Denver campus and Health Sciences Center prior to the

    consolidation will not change.

Use of the Organization ChartField is mandatory in the Finance System.

The Finance System permits the use of a hierarchy of different levels when

    working with organizations. For example, some departments may choose to

    run all of their operations from one organization, while other departments may

    choose to break down their overall operations into smaller segments that reflect

    responsibility units within the larger organization.

For example, Intercollegiate Athletics has chosen to break down its overall

    department into smaller organization levels.

Athletics is first divided into organizations reflecting smaller segments of the

    department’s programs and operations such as Men’s Basketball, Women’s

    Basketball, Other Men’s Sports, Other Women’s Sports, etc. Then, the Other

    Men’s Sports and Other Women’s Sports organizations are further segmented

    into organizations for Men’s Track, Men’s Golf, Men’s Tennis, Men’s Skiing,

    etc., and Women’s Soccer Women’s Volleyball, Women’s Track, Women’s

    Golf, etc.

This is illustrated by the diagram on the following page.

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    UNIVERSITY OF COLORADO AT BOULDER

    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

     10006

    Basketball- Men's

     10007 Basketball- Women's

    B0004

     Intercollegiate 10008 - Othmensports-Track Athletics 10009 - Othmensports-Golf effective 05/06 B0005 Athletics-Other 10010 - Othmensports-Tennis Men's Sports

     10012 - Othwmsports-Soccer

    10013-Othwmsports-Volleyball B0006 Athletics-Other 10014 - Othwmsports-Track Women Sports

    Contact your area accountant if you would like assistance in understanding the

    Finance System organizational structure for your department, or if you would

    like to adjust the organizational structure for your department. Area accountant

    information is available on the ABS website at

    http://abs.colorado.edu/ABS_WEB/WEB_2003/ABS_General_Accounting.htm.

E. Program/Project ChartField: 5 Digits, Required, Input by User

    Each activity will either be a Program or Project, but never both. Using either

    the Program or Project/Grant ChartField within a FOPPS is mandatory.

    1. Program

    The Program ChartField identifies distinct university activities for one or

    more fund(s) and organization(s). Programs are based on the university’s

    fiscal year. Thus, a program is used to track the financial impact during a

    budget (fiscal) year of a distinct activity within an organization. The

    Program ChartField is used in the following funds:

    ? General 10, 11

    ? Auxiliary 20, 26, 28, 29

    ? Gift 34

    ? Renewal and Replacement 72, 78

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    CHAPTER 5: CHART OF ACCOUNTS 10/09

    UNIVERSITY OF COLORADO AT BOULDER

    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

    ? Retirement of Indebtedness 73

    ? Investment in Plant Fund Activities 74

    ? Agency Fund 80

    ? Presentation Fund 99

2. Project/Grant

    Similar to the Program ChartField, the Project/Grant ChartField identifies a

    specific activity within the university. However, a project is not fiscal year

    based. Rather, a project is based upon the period of the award. The Project

    ChartField is used in the following funds:

    ? Loan 50

    ? Grant/Contract Restricted 30

    ? Capital Construction 71

    F. Sub-Class ChartField: Not Required

    The Sub-Class ChartField is used to capture department-defined needs. Its use

    is optional. The FOPPS below shows the use of a Sub-Class. The Sub-Class

    ChartField can be alpha-numeric and consists of 5 characters.

    10 10025 10236 PH303

     SubClass = Photography

    Program = Publications Org = University Communications

    Fund = General

    G. Account ChartField: 6 Digits, Required, Input By User

    The Account ChartField describes the activity that is being done by identifying

    the natural classification of the transaction: Asset, Liability, Fund Balance/Net

    Assets, Revenue, Expense, or Transfer. All financial transactions must be

    designated by one of these categories. The use of the Account ChartField is

    mandatory. A list that describes frequently used accounts follows:

1. Asset Account Range: 000000-099999

    An Asset is tangible or intangible personal and real property such as cash,

    investments, inventory, accounts receivable, loans receivable, prepaid

    expenses, equipment, building, etc. Assets are found on the balance sheet.

2. Liability Account Range: 100000-199899

    A Liability is an amount owed to an external entity. Liabilities are found on

    the balance sheet.

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    UNIVERSITY OF COLORADO AT BOULDER

    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

    3. Fund Balance/Net Assets Account Range: 199900-199999

    Fund Balance/Net Assets equals Assets minus Liabilities or A - L = FB.

    Fund Balance/Net Assets is found on the Balance Sheet/Statement of Net

    Assets.

4. Revenue Account Range: 200000-399999

    Revenue results from the sale of goods or the rendering of services. It is

    measured by the charge made to customers for the goods or services

    furnished to them. CU-Boulder records revenue when it is earnedthat is

    when the goods or services have been furnishedregardless of when the

    payment is actually received from the customer.

    5. Expenditure Account Range: 400000-989999

    Expenditure is an accounting entry that recognizes the consumption of

    assets. Salaries, fringe benefits, office supplies, travel, depreciation, etc. are

    examples of expenses. CU-Boulder recognizes expense at the time the

    goods or services have been received, regardless of when the actual

    payment is made.

    6. Transfer Account Range: 990000-999999

    A transfer occurs when cash is moved from one FOPPS to another FOPPS,

    and no exchange of goods or services is provided in exchange for the cash.

    It is critical that both the fund giving away the money as well as the fund

    receiving the money use a transfer code. Transfers must offset one another.

    Refer to the Transfer Table located on page 42 in Chapter 4 of The Guide

    for information about which fund-pairs are permitted to transfer cash and

    fund balance between one another, and which fund-pairs are prohibited

    from doing so.

The accuracy of the university’s financial reports depends upon correct account usage. Chapters 6 and 9 of The Guide discuss accounts.

    H. Budget Year: Default

    The Budget Year ChartField is a default field in the Finance System. The

    default value is the current fiscal year.

    I. Statistics Code: Not Required

    The Statistics Code ChartField is used to capture non-monetary units of

    measurements. Some examples include FTE, mileage, and square footage.

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    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

    J. Currency Code: Default

    The Currency Code ChartField is set by the Finance System system to default

    to United States Dollars ($USD).

K. Sample FOPPS

    The figures that follow present four sample FOPPS and include descriptions of

    the associated ChartFields. All fields are required unless noted otherwise.

FOPP=10 10369 14991 485107

     FUND ORGANIZATION PROGRAM ACCOUNT General Libraries Music Library Postage Fund

FOPP=20 10446 15815 702001

     ORGANIZATION PROGRAM ACCOUNT FUND Recreation Center Outdoor Program Non-Employee Auxiliary

    Outdoor Program Climbing In-State Travel (TABOR (Non-Airfare) Enterprise)

FOPP=30 10089 1542641 487600

     ORGANIZATION PROJECT FUND ACCOUNT CIRES- Collaborative Restricted Prt/Pub/Repro Solid Earth Research Sponsored Supplies/Service Division Fed, State

FOPP=10 10025 10236 PH303 480101

    SUB-CLASS FUND PROG ORG Photography General Publications University Communica tions ACCOUNT Office Supplies Optional

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    UNIVERSITY OF COLORADO AT BOULDER

    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

    L. SpeedType: 8 Digits

    The Finance System also uses SpeedTypes. The first digit of a SpeedType

    represents the campus, the second and third digits stand for the fund, and the

    remaining five digits of the SpeedType represent a unique combination of

    Fund, Organization and Program or Project/Grant and, where applicable, Sub-

    Class. The Finance System assigns SpeedTypes to FOPPS automatically at the

    time a request to create a new ChartField is made. SpeedTypes are used to

    facilitate Fund, Organization, Program/Project data on transactions. Some

    systems, such as Mailing Services or Human Resources, use only SpeedTypes.

    SpeedTypes corresponding to the first two FOPPS in Section K, above, are:

    FOPPS SpeedType

     10 10369 14991 11027532

     Campus Fund Finance System Assigned Digits

     20 10446 15815 12021496.

    SpeedType information can be found in the Finance System. Use the following

    navigation from the Finance System Homepage

    Select General Ledger

     ?

    Select ChartFields

     ?

    Select SpeedType.

    When the SpeedType Search Page opens, type in the SpeedType number about

    which you want more information.

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    UNIVERSITY OF COLORADO AT BOULDER

    DEPARTMENTAL FINANCIAL MANAGEMENT GUIDE

     CHART OF ACCOUNTS

    Click on the key. The SpeedType component opens, and you can select the SpeedType, the

    Additional SpeedType Attributes, or the Org/Program/Project Attributes Tabs.

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