Chart of Accounts

Please note that beginning on July 1, 2014 the University is utilizing a new chart of account structure. 

Understanding a Chartstring

The Chartstring (or chargeline) of any transaction tells the "Who, What, Where and How" of the transaction posting to the University General Ledger. It provides details of any financial transaction taking place and includes the following:

                     Account - Fund - DeptID - Program

                        6180    -    11   -   12345  -   23456 

Account Code: "What" Details the type of transaction. The account code will have 4 digits and is divided into five categories: assets, liabilities, fund balances, revenues and expenses. 

Fund Number: "Where" Classifies the funding source. The fund number will have 2 digits.

Department ID: "Who" Owner of the transaction. The department ID will have 5 digits.

Program Number: "How" Details the funding source of the transaction. The program number will have 5 digits.

Project Number (if applicable): "What" A tracking mechanism for capital projects. The project number will have 9 digits.

Grant Number (if applicable): "What" A tracking mechanism for grants. The grant number will have 6 digits.

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Assets

Assets  these are tangible items that the University has as resources. They are usually listed in descending order of liquidity meaning that cash and other assets that are easily converted to cash are listed first. Asset accounts begin with the numbers 1 or 2.

From To Description
1101 1199 Cash and equivalents
1200 1299 Advances
1301 1499 Account receivables
1501 1549 Investment income
1550 1599 Notes receivables
1601 1799 Other assets
1800 1819 Pledges receivables
1820 1849 Under bond agreements
1850 1899 Held in trust by others
1910 1999 Property, plant and equipment
2001 2999 Investments
Liabilities

Liabilities  these are obligations due to creditors such as payables and loans. Those that fall due within the next year are usually listed first, followed by the long-term liabilities. Liabilities begin with the number 3.

3101 3109 Accounts payable
3110 3199 Clearing accounts
3201 3299 Accrued expenses
3301 3399 Payroll withholding
3401 3499 Other liabilities
3501 3599 Accrued interest payable
3601 3699 Deferred income
3701 3799 Refundable advances
3801 3899 Long term liabilities
Net Assets

Net assets  also referred to as fund balances, reflects the net worth of the University. They represent the balance remaining after liabilities are subtracted from assets. The fund balance accounts are also used to designate whether they are unrestricted, temporarily or permanently restricted net assets. Net assets begin with the number 4.

4111 4119 Unrestricted
4551 4551 Temporarily restricted
4881 4881 Permanently restricted
Revenue

Revenues - represents revenue or income earned by the University. Revenues begin with the number 5.

From To Description
5100 5199 Tuition and fees
5201 5230 Auxiliary enterprises
5301 5399 Financial aid and student support
5401 5499 Contributions
5501 5599 Sponsored programs
5601 5699 Investment returns
5800 5953 Other sources
5970 5999 Availings
Expenses

Expenses represents the cost of operating the University. Expenses begin with the numbers 6, 7 and 8.

From To Description
6100 6199 Salaries and wages
6601 6695 Fringe benefits
7101 7149 Supplies
7151 7199 Lease and rentals
7201 7249 Purchased services
7251 7299 Audit and legal fees
7301 7349 Meetings and meals
7351 7399 Travel
7401 7449 Minor equipment
7451 7499 Major equipment
7501 7549 Interdepartmental
7601 7649 Utilities
7651 7699 Advertising
7701 7749 Repairs
7751 7799 Insurance
7801 7849 Miscellaneous
7851 7899 Bad debts
7901 7949 Interest expense
8101 8149 Operating adjustments
8151 8199 Depreciation and amortization