A Fund code is a value that identifies the source and intended purpose of monies and how they should be spent. Monies come to the University from a variety of sources and are “deposited” into Funds, which are identified by the different Fund codes, depending on the source and how the resources can be used.
Fund accounting lets the University track financial transactions in a way that supports accountability, by separately accounting for specific activities in the General Ledger in accordance with special regulations, restrictions, or limitations.
The list of Fund Groups and Definitions provides detailed information about the basic groups below:
Current Funds include the economic resources of the University that are expendable for operating purposes in performing the primary objectives of the university:
Research funds consist of economic resources that are restricted to the purpose of research. These funds include activities to produce research, whether commissioned by an agency or separately budgeted by a unit within the University.
Loan funds consist of loans to students and the resources available for such purposes. The terms of the loan agreements normally specify that the monies operate on a revolving basis, i.e. repayments of principal and interest loans to other individuals
Capital Projects Funds are used to account for the unexpended resources that come from various sources to finance the acquisition, construction, or renewal and replacement of long-lasting plant assets and the associated liabilities.
This fund group is used to account for the accumulation of resources for interest and principal payments and other debt service charges related to plant fund indebtedness.
Includes all long-lasting assets in the service of the University, as well as the associated liabilities (except for long-lasting assets held as investments in Endowment funds).
This group is made up of funds held by the University as custodian or fiscal agent for others.
New funds can be created for special circumstances. There will need to be a material purpose for the new fund such as state requirements, federal reporting requirements, major construction projects, etc. Please call or email our office to discuss.
Please contact our office for unused or obsolete funds that can be inactivated.
Main Menu > Financials > Set Up Financials/Supply Chain > Common Definitions > Design ChartFields > Define Values > ChartField Values
The Required Chartfield by Fund spreadsheet is a helpful resource that presents the ChartFields required for each fund.
The Account Use by Fund provides a list of all Account Code values, including the names of each account, showing valid Account/Fund combinations. The first tab of the workbook, “General Instruction” provides a quick way for users to search if a specific Account/Fund combination is valid.
General Accounting & Financial Reporting: (352) 392-1326
UF Help Desk: (352) 392-HELP
Disbursements: (352) 392-1241