University Funds

The university receives funding from a variety of sources, such as state appropriations, tuition revenue, grant funding, donations, fees, sales revenue and indirect cost recoveries.  Fund Accounting is an accounting system commonly used by non-profit & governmental organizations (including universities) which emphasizes accountability (not profitability) to ensure proper stewardship and expenditure of financial resources received in compliance with applicable regulations, guidelines and restrictions associated with the funds received.  Fund accounting helps ensure proper stewardship of University assets by segregating funds according to their intended purposes.  

Fund Types

Fund types are used to classify resources into funds according to specified activities, designations, or restrictions for financial accounting and reporting purposes.  

General Operating or General Fund - fund begins with a "61."

The traditional state appropriated funds which are supported with general funds, tuition, milage, and registration fees.

Restricted - fund begins with a "62."

Funds which are restricted to purposes specified by external sources.  Examples include federal grants or contracts, federal financial aid, and state grants.

Designated - fund begins with a "63."

Self-supporting funds.  Examples include internal sales such as computer centers and facilities recharges, student fees, external sales, international education, athletics and indirect cost recoveries.

Auxiliary - fund begins with a "64."

Self-supporting funds that provide essential on-campus services to students, faculty or staff.  Examples include student housing, food services, student union, parking, and student health.

Plant - fund begins with a "67" or "68."

Funds used for the acquisition of long term assets and renewal or replacement of campus properties.  The students' computer and equipment fees are recorded in this fund as well as some of the campus building fees.