Glossary

  • Garnishment

    A court order directing that money or property of a third party (usually wages paid by an employer) be used to satisfy a debt owed.
  • General Ledger

    An account book of final entry. In an accounting system, the general ledger is the place in the system where financial information resides.
  • GL Closing Date

    Date the General Ledger is closed. No transactions can be posted after closing.
  • Government Owned/Furnished Property (Federal Property)

    For the purpose of these directives and procedures, government owned/furnished property refers to federally owned furniture and equipment, which has been made available to the University for use on a particular contract, grant or through a specific program, who’s title has remained with the federal government.