|State||1000000 - 1599999|
|Auxiliary||1600000 - 1999999|
|Designated||2000000 - 2699999|
|Sponsored Projects||3000000 - 4999999|
|Restricted||5000000 - 5999999|
|Loans||6000000 - 6999999|
|Endowments||7000000 - 7999999|
|Plant Funds||8000000 - 8999999|
|Agency||9000000 - 9399999|
State Funds (General)
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 auxiliary enterprises that exist predominantly for the purpose of providing goods or services to students, faculty, or staff. An auxiliary enterprise is a separately organized University unit or activity established to sell products or services on a continuing basis and is managed essentially as a self-supporting business. An auxiliary enterprise charges fees directly related to, although not necessarily equal to, the cost of the products or services provided.
At the University of Arizona, examples of auxiliary enterprises include BookStores, Campus Recreation, Housing and Residential Life, Parking and Transportation, Intercollegiate Athletics, and the Student Unions.
Designated funds account for the receipt and use of unrestricted funds which have been "designated" for specific purposes by the Arizona Board of Regents or an administrative unit of the University. In general, the source of revenues in the Designated fund group of accounts comes from external individuals and groups who purchase miscellaneous goods and services that are not more appropriately classified as auxiliary enterprises. These revenues support the current, day-to-day operating needs of the University.
At the University of Arizona, Designated funds account for the activities of indirect cost and administrative service charge recoveries, educational conferences, and certain instructional activities such as summer session, continuing education and extension programs. Also included in the designated fund are sales of by-products of instructional, research, or public service activities, 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.
Funds received from Federal, State or other governmental agencies or private organizations that are provided on a contractual or grant basis with the restriction that the funds be used for a specific purpose. These funds may only be used for the intended purpose and must be spent in accordance with terms specified in an agreement established between the sponsor and the University. If not, the funds may revert to the sponsor. See Sponsored Projects Services.
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 Treasury Services.
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 custodian or fiscal agent) for an organization or entity (the Agency) external to the University. The University must act with reasonable care in administering the funds of others. The University does not exercise any direct financial control over the use of agency funds; funds are to be controlled and spent as directed by the external organization's policies and guidelines. Agency accounts do not carry a fund balance that belongs to the University and transactions of agency funds are not included in the revenues or expenses of the University for financial reporting purposes.