Kentucky State University Business Policies and Procedures Manual

• oAdministration
• Human Resources
• Auxiliary Services
• ■ Campus Police
• 5XXXXXX – Other Institutional Support
• o501XXX – Advancement
• o502XXX – Communication
• o503XXX – Information Technology
• o504XXX – Facilities and Capital Planning
• ■ Facilities and Capital Planning
• Housekeeping
• ■ Grounds
• Motor Pool
• Safety
• 6XXXXXX – General University

Accounts

The Account (ACCT) is a 6-digit code that identifies the nature of the account and defines where it is presented in the financial statements. The first 2-digits identify the Account Type which is used to group the accounts to ensure that financial reporting follows generally accepted accounting principles (GAAP) and other regulatory reporting requirements.

Financial statement line items are bolded.

• 10 – Assets include current assets, fixed assets, contra assets, and other assets. These are generally reported in order of liquidity.
• oCurrent assets are those assets which are available or can be made readily available to meet the cost of operations or to pay current liabilities.
• 11 – Cash and cash equivalents – each bank account needs a unique account code
• 1101 – Claim on cash
• 11XX-Cash in bank
• oInstitutional general bank account
• oDepository (sweep to general)
• oDisbursement (sweep to general)
• Vendor
• Payroll
• o111X - Change funds
• 112X – Cash in state accounts
• 12 – Restricted cash – each bank account needs a unique account code (Account Type 12)
• Federal Perkins loan fund
• Federal funds clearing