Account Type Definitions

All accounts in KFS are assigned an “Account Type” which indicates the purpose of the account. The codes classify the fund type across the college and department. Common account types are defined below:

• AMF: Academic Materials Fees

  • These are departmental 4L accounts which generate revenue from student fees when they enroll in classes that have established AMF fees. This occurs most commonly in areas that run lab sections, where the materials used in these labs are charged to this account. The balance at the end of the year should be $0, but if there is a deficit it will need to be covered by the department.

• ACS: Academic Support

  • These are miscellaneous accounts created and used at the department’s discretion for specific projects or other departmental activities (example: Summer Session accounts).

• CN: Continuation Account

  • These are accounts that are used to hold expenses temporarily when an account expires and a charge goes through, which is typically related to grant accounts. These accounts should be at $0 by the end of the year and are not intended for charges to be placed here except for in these situations.

• EQU: Capital Equipment

  • 7L funds for capital equipment purchases of at least $1,000 - these accounts are uncommon.

• FCR: Faculty Research

  • These are unrestricted faculty research accounts, usually 4L but some may be 2L. These are typically devised through agreements made between the Dean or Department Head and the faculty member.

• GRC: Grants and Contracts

  • 5 and 6L accounts that are faculty grant accounts and managed by CLAS Grant Management.

• GIF: Gifts

  • These are 6L accounts that are typically scholarship or other gift accounts, and general have more specific purposes and restrictions based on the purpose of the gifted funds. Foundation accounts are also included within GIF accounts.

• IDC: Indirect Cost Return

  • The Indirect Cost Return is the return a department will receive based on the expenditures of grants and contracts (against indirect cost charges) in the prior year (through June 30th). The allocation is typically transferred to the Department around December of the next fiscal year but is budgeted by the CLAS Business Center at the start of the fiscal year. A grant must be defined as research in order for the return to be part of the allocation. The current model for Indirect Costs is that the Department, Dean and Principal Investigator (PI) each receive 10% of the prior year’s IDC expenditures. If the Grant or Contract is run through a Center or Institute, the home Academic Department will receive the IDC return. IDC returns are allocated to 4-Ledger accounts and do not have expiration dates. These funds are unrestricted. IDC accounts may appear in deficit if the returns have not come in yet.

• INS: Instruction

  • These are 2L departmental accounts funded by the College for the main operations of the department - GENX (general expenses) and TEMP (temp labor expenses: graduate, special, and student payroll). The department is responsible for managing the GENX and TEMP allocations. Funds remaining at the end of the fiscal year in GENX will be taxed at 25% and the remaining 75% will be rolled into the department’s Rollover account. Remaining TEMP funds are not rolled.

    • If there is a deficit in the TEMP allocation, both the deficit and relative fringe cost will need to be covered.

• REV: Revenue Accounts

  • These are 4L accounts that generate revenue - these are often budgeted at the start of the year based on anticipated revenue and adjusted throughout the fiscal year as needed.

• ROL: Rollover

  • Funds that remain unspent in the GENX INS (as outlined above) as of June 30th are taxed by 25% and the remaining 75% are deposited into the Rollover account.

    • Salary savings accounts are also taxed by 25% on June 30th and the remaining 75% are deposited into the Rollover account.

    • As of June 30th, the remaining balance in the Rollover account is also taxed 25% and the remaining 75% will remain at the start of the next FY.

• ROY: Royalty

  • These funds are generated from entrepreneurial activities, such as when credit fees are charged or when tuition is billed for students engaging in an entrepreneurial program. Royalty accounts receive 80% of the total fees charged in a given FY and the Dean receives the remaining 20%.

• SUP: Start-Up

  • Faculty may negotiate start-up funding during their negotiation period of their offer, and the final start-up amount must be finalized in their signed offer letter. These accounts are given end dates for spending. The department is also responsible for covering 20% of faculty start-up packages and will work with the Business Center to facilitate this over time.

    • Departments are also responsible for covering 20% of retention agreements (RSUP accounts).

• SSV: Salary Savings

  • These are 2L accounts which are generated when faculty members charge their academic year salary to a grant or research account, rather than the standard departmental 2L. These funds are intended to cover departmental teaching needs based on the faculty not teaching a portion of their load.

    • Faculty may also have their own salary savings accounts in their name if the agreement in their department involves sharing a portion of the savings with the faculty member (varies department to department). These funds are also taxed at the end of the year (25%).

• WKS: Work Study

  • Each department is assigned a 5L work study account to charge costs for work-study student labor. The account is managed centrally by the University and will typically run a deficit until it is periodically funded by the University central administration.