Monitor changes to organizational reporting needs in consideration of:

Create new FOAPAL elements within defined structures as new reporting needs are identified.

New regulations – GASB, FASB, GAAP, NACUBO FARM, NCAA, Department of Ed, legislation, etc.

New organizational funding sources, reporting structures, program designations, campus locations

Management reporting needs

Determine whether reporting needs can be met with existing FOAPAL and attributes.

Fund types – any grouping of funds requiring a unique identifier for reporting purposes. There should be no changes after the initial setup unless required by new external reporting requirements.

Chart of Accounts: 1

Active Status: checked (default)

Fund Type: create 2-digit numeric code according to FUND structure definition

Title: name descriptively

Effective Date: today

Internal Fund Type: roll up level

10 – Current Unrestricted

20 – Restricted

30 – Auxiliary

40 – Loan Fund

50 – Quasi-endowment

60 – Endowment

70 – Annuity and Life Income

80 – Agency

90 – Unexpended Plant

Fund codes – Any activity that requires balance sheet reporting requires a unique fund code, e.g., grants, restricted gifts, endowments. This element will have the most activity after the initial setup.

Utilize non-data-enterable roll up level funds where needed to group funds for approvals or reporting, e.g., by granting agency or PI, by endowment.

FTMFUND Fund Code Maintenance

Chart of Accounts: 1

Active Status: checked (default)

Grant: Select, if applicable

Fund: create 6-digit numeric code according FUND structure definition

Title: name descriptively, maximum of 35 characters

Effective Date: today