Glossary

Fabricated equipment includes equipment that is constructed by individuals or departments by assembling parts or basic materials purchased. The total value of all combined parts must meet the capitalization threshold for the category of equipment in which it is related.

Includes both Social Security and Medicare taxes levied on individuals.

Any Federal grant, contract, or cooperative award received directly by the University of Florida as well as subawards received by the University under Federal Sponsored Awards to other organizations.

Revenue-generating activity from the provision of goods and/or services. Such activity enhances, promotes, or supports the University’s instruction, research, public service and campus support functions, and other educational and support functions in order to meet the needs of students, faculty, staff, and members of the public participating in University events and programs.

A fellowship grant is generally an amount paid or allowed to an individual for the purpose of study or research and does not require repayment or the performance of present or future services (primarily for the benefit of the grantor) to receive it. UF reports non-training grant fellowship income in Box 5 of Form 1098-T to both the recipient and the IRS at year end.

The FICA Alternative Plan is a defined contribution plan authorized under section 401(a) of the Revenue Code. Employees in certain temporary positions are mandated to participate in lieu of earning credit for Social Security.

An accounting method for inventory in which the first items purchased are assumed to be sold first.

Completion of the business unit’s 12 periods, or one-year accounting period.

Real property (land, buildings, fixtures and fixed equipment) including additions, replacements, major repairs, and renovations to real property which materially extend its useful life or materially improve or change its functional use and including furniture and equipment necessary to furnish and operate a new or improved facility, when appropriated by the Legislature in fixed capital outlay appropriation category.

Certificate of Eligibility for Exchange Visitor (J-1) Status used to obtain a J-1 Exchange Visitor visa. The form can only be issued and endorsed by a Responsible/Alternative Responsible Officer (in the UF International Office). J-1 Students are usually those funded by a government or institution. They may be degree-seeking or participating in a reciprocal exchange or cooperative education program. Other DS-2019 categories include Research Scholar, Short-Term Scholar, Professor, and Student Intern. Before the advent of the SEVIS system, the form used for J-1 visitors was called “IAP – 66.”

Certification of Eligibility for Nonimmigrant (F-1) Student Status used to obtain an F-1 student visa. F-1s are usually privately-funded, full-time, degree-seeking students. The specific program and expected date of completion of studies are on the form. This form can only be issued or endorsed by the Designated School Official (DSO).

A form used by the U.S. Citizenship and Immigration Services (USCIS) to grant complementary immigrant benefits and status. It is the H1B approval notice issued by USCIS for work authorization.

Employment Eligibility Verification form required by U.S. Citizenship and Immigration Services. It is used by an employer to verify an employee’s identity and to establish that the worker is eligible to accept employment in the United States.

Fringe benefits rates are pooled rates that include the employer costs of taxes and benefits for Social Security, Medicare, health insurance, retirement, life insurance, clinical disability insurance, worker’s compensation, unemployment compensation, eligible leave cashouts, sick leave pool payments and paid parental leave payments. They change every year, and are different depending on the employee category.

Full time equivalent. If you are hired to work 100% of the normal or standard workweek (a full-time position), you will have an appointment of 1.0 FTE.

An independent fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations.