- Monitor changes to organizational reporting needs in consideration of:
- Create new FOAPAL elements within defined structures as new reporting needs are identified.
- oNew regulations – GASB, FASB, GAAP, NACUBO FARM, NCAA, Department of Ed, legislation, etc.
- oNew organizational funding sources, reporting structures, program designations, campus locations
- oManagement reporting needs
- oDetermine whether reporting needs can be met with existing FOAPAL and attributes.
- oFund 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.
FTMFTYP Fund Type Maintenance
- 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
- o10 – Current Unrestricted
- o20 – Restricted
- o30 – Auxiliary
- o40 – Loan Fund
- o50 – Quasi-endowment
- o60 – Endowment
- o70 – Annuity and Life Income
- o80 – Agency
- o90 – Unexpended Plant
- oFund 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