|01-State||1000000 - 1599999|
|02-Auxiliary||1600000 - 1999999|
|03-Designated||2000000 - 2699999|
|04-Sponsored Projects||3000000 - 4999999|
|05-Restricted||5000000 - 5999999|
|06-Loans||6000000 - 6999999|
|07-Endowments||7000000 - 7999999|
|08-Plant Funds||8000000 - 8999999|
|09-Agency||9000000 - 9399999|
The source of funds for state accounts is the State Legislature in the form of an approved appropriation plus registration/tuition revenues. This spending authority is approved in an annual State House Bill. In UAccess Financials, this spending authority is represented by budgets loaded into your state account at the beginning of each year. By law, State expenditures may not exceed State approved spending authority in a fiscal year. This is why it is important to monitor your state account's Budget Balance Available.
State funds are intended for day-to-day operational expenditures that are related to the mission of the University. Some expenses are prohibited. For example, business meetings/entertainment, moving, recruiting, scholarships, stipends, etc.
Auxiliary funds account for the activities of enterprises that exist for the purpose of providing goods or services to faculty, staff, students, or other University of Arizona departments. Auxiliary activities are most closely related to "real world" businesses, and such are expected to develop and follow a budget, be self supporting, have expenditures directly related to the revenue producing process, and to charge fees that are directly related to the cost of the goods or services that are provided.
At the University of Arizona, Auxiliary funds account for the activities of all major retail and service activities such as the U of A Bookstore, Student Union food services, Fast Copy Center and Photo Shop, Residence Life student dormitories and family housing, Parking and Transportation parking permits and Sun Tran passes, UA Presents performances, U of A Press publications, and Intercollegiate Athletics events. Auxiliary funds account for the activities of internal service departments that provide wholesale services to other departments on campus. These activities may be subject to Facilities Management's repair, maintenance, and custodial services, Printing and Publishing Support Services, Telecommunication's telephone services, and the University Research and Instrumentation Center's design and fabrication service.
Designated funds accounts for the receipt and use of unrestricted funds which have been "designated" for specific purposes by the University management, such as the Arizona Board of Regents, State legislators, and U of A central administration. In general, the source of revenues in the Designated fund group of accounts comes from non-University of Arizona affiliated individuals and groups who purchase miscellaneous goods and services produced as a by-product of our joint missions of instruction, research, and public service. These revenues support the current, day-to-day operating needs of central management and University departments.
At the University of Arizona, Designated funds account for the activities of educational conferences, summer session and continuing education classes, outreach, international and extension programs, Center for English as a Second Language program, indirect cost recovery, administrative service recovery, and student fees. Also included in the designated fund are sales of by-products of research, such as produce from the College of Agriculture's research farms, hearing aids from the Speech and Hearing Science department, and subscriptions to scholarly journals published by University departments.
Current operating funds received from outside sources (i.e. donors) with specific restrictions on how the monies are to be spent AND which are not more appropriately classified as sponsored projects. Included are restricted gifts, governmental grants for student aid, and private grants and scholarships. May require legal assistance to clarify if restricted or non-restricted.
Loan funds are loan programs that can be funded by (1) the Federal Government including the Department of Education (DOE), the Department of Health and Human Services (HHS), and other government agencies; (2) the University of Arizona; and (3) private donors or other organizations.
Loan funds account for the receipt of funds, disbursements to students, and repayments made by students. Loan account restrictions vary and are set by the funding entity. Departments and students should contact the Office of Scholarships and Financial Aid with any questions concerning loan awarding procedures.
An endowment is a special fund whereby the principal is held for investment and the interest earned on the principal is spent as directed by the donor. With the acceptance of endowment funds from an outside donor, the University assumes certain fiduciary responsibilities. These responsibilities include making sure the funds are held and expended in compliance with the donor wishes. since permanent endowments continue in perpetuity, it is very important that the University maintain a clear understanding of any donor restrictions. For this reason, when a department receives funds, the department should have the donor's wishes in writing to ensure compliance over the years.
For more information see Office of Investments.
Plant Funds: The unexpended plant funds, renewal and replacement funds, debt service funds and the investment in plant funds together are called Plant Funds.
Unexpended Plant Funds: Unexpended plant funds are resources and any associated indebtedness to be used for the acquisition of physical properties for institutional purposes which have not yet been expended. Indebtedness incurred to finance plant acquisition, construction, and the like, are included as a liability of the unexpended plant funds until the proceeds of the indebtedness are expended. Examples of unexpended plant funds include construction, State funds for building renewal and remodeling, insurance recovery and asset disposal.
Renewal and Replacement Funds: Resources accumulated for renewal and replacement of the capital facilities of the University.
Debt Service Funds: Accumulates resources for the payment of debt service charges and the retirement of long-term indebtedness. Examples of debt service funds include those for bonded indebtedness, certificates of purchase, lease purchase agreements and other forms of long-term indebtedness.
Investment in Plant Funds: Records the net capital acquisitions of the University. Capital assets are classified as land, buildings and improvements, equipment, library acquisitions and construction in progress. The principal balance of liabilities incurred to acquire capital assets is recorded in this fund.
Agency funds account for the resources held by the University (the Agent) for organizations or entities (the Principal) external to the University. The University must act with reasonable care in administering the funds of others. Funds are to be spent as directed by the external party unless such actions are contrary to the University's interests. With Agency funds, specific guidelines should be followed.
Guidelines for Agency Accounts
- A memorandum from the external party should define the function of the account, the types of transactions allowed and any expense restrictions on the account. The memorandum must identify a University employee as the responsible person.
- A positive cash balance must be maintained at all times in the account.
Since Agency funds do not belong to the University of Arizona, any fund balance belongs to the external entity. Periodic reports of transactions (additions and deductions) should be sent to the entity.