Chart Field Combinations

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Chart Field Combinations
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Purpose

• This session is designed to provide an overview
  of Fund Accounting and its application at Georgia
  Regents University using Chart Field Combinations.

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Objectives

• Learn the basics of Fund Accounting
• Learn about GRU Funds
• Learn about Chart Field Combinations
• Learn the basics of accounting entries

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Agenda

• Overview of Fund Accounting
• GRU Funds
• The concept of Chart Field Combinations and their
  purpose
• Basic accounting entries using funds and chart
  field combinations

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Basics of Fund Accounting

• Governmental focus
• Self-balancing set of accounts per fund
• The basic accounting equation
• Assets Liabilities Owners Equity
  (Revenue-Expenses)

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Fund Accounting and the Board of Regents Example
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GRU Funds

• Unlimited number may be used however, limited by
  practicality
• Other Chart Field Identifiers are used for
  reporting/further definition

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What Are Chart Fields?

• The Chart Field Combination (CFC) is composed of
• Account Code
• Fund
• Department
• Program
• Class
• Budget Period
• Project/grant ID (if necessary)
• The term Chart Field Combination (CFC) is a
  standard PeopleSoft term.

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What does the CFC tell us?

• The Chart Field Combination (CFC) are numerical
  characters that tell us
• What the funds were used for
• Where the funds came from
• Who (i.e. what school) the funds belong to

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Account Codes

• The What
• Descriptor of the nature of the revenue, expense,
  asset, liability or net asset (fund balance)
  accounts

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Account Codes

• 1XXXX Assets
• 2XXXX Liabilities
• 3XXXX Net Assets, Reserves
• 4XXXX Revenues
• 5XXXX thru 8XXXX Expenses
• 9XXXX Allocation Transfers

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Fund Code

• The Where part I
• The source or nature of the item

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Fund Groups

• Unrestricted Operating (1XXXX)
• Restricted Purpose (2XXXX)
• Loan Funds (3XXXX)
• Endowment (4XXXX)
• Plant (5XXXX)
• Agency (funds held for
• others) (6XXXX)

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Department Code

• The Who
• First 2 digits represent a School or admin unit
• The next four digits are dept defined generally
  a dept or program with the first 2 digits
• If the first of last digit is an A, it is an
  agency code

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Program Code

• The How the funds are to be used
• Defined by the BOR
• Based on the NACUBO (National Association of
  College and University Business Officers)
  functional area

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Program Code Overview

• Education General - 1XXXX
• Auxiliary Enterprises - 2XXXX
• Other - 3XXXX

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Program Code DetailEducation and General

• Instruction 11XXX
• Research 12XXX
• Public service 13XXX
• Academic support 14XXX
• Student services 15XXX
• Institutional Support 16XXX
• Plant Operations 17XXX
• Scholarships and Fellowships 18XXX

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Program Code DetailAuxiliary Enterprises

• Housing 21XXX
• Food services 22XXX
• Stores 23XXX
• Health services 24XXX
• Transportation and Parking 25XXX
• Auxiliary Plant 26XXX
• Other Organizations 27XXX

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Program Code DetailOther

• Patient care 32XXX

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Class Code

• The Where part II
• Generally correlates with the Fund
• Gives a more detailed Where than the Fund
• Detailed Source/Use of funds
• Used for both revenues and expenditures
• Unique to the State of Georgia

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Class Code

• Examples
• 11000 General Operations
• 19000 Dept Sales
• 41100 Dept Sales
• 61000 Sponsored Federal
• 61031 Federal Work Study
• 64060 Clinical Trials

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Project/Grant ID

• Identifies a specific Sponsored agreement or a
  project
• Up to 15 digits in length
• Generally, if code starts with Alpha, it is a
  grant
• If it starts with numbers, generally it is a
  project

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Project/Grant ID

• Examples
• MERCK00001 A Merck Pharmaceuticals Clinical
  Trial
• NHLBI0001 An (NIH) National Heart, Lung and
  Blood Institute Grant
• VAMC0001 A Veterans Affairs Medical Center IPA
  for Dr. Smith
• 0044008 28th Annual Opthal Symposium

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Budget Period

• The Year in which revenues, expenses,
  encumbrances originated

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Basics of Accounting Entries

• Double entry
• Use two columns and amounts are not distinguished
  by or
• Ex. Cost Transfer Form
• Debits and Credits
• Whether a debit or credit increases or decreases
  a balance depends on the type of account

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More Debits and Credits

• Example
• Dividend, Expense, Assets, and Losses (DEAL)
  Debits increase while credits decrease the
  balance
• Gains, Income, Revenues, Liabilities, and
  Stockholders Equity (GIRLS) Debits decrease
  while credits increase the balance.

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Questions/Answers
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References

• Websites
• GRU Controllers Office http//www.georgiahealth.ed
  u/finance/controller/
• USG BOR Policy Manual http//www.usg.edu/business_
  procedures_manual/

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Conclusion

• This concludes Chart Field Combinations
• If you have any questions, you may contact
• Laura Craft lcraft_at_gru.edu, 706-721-6235
• Karen Castleberry kcastleberry_at_gru.edu,
  706-721-2135
• Barandy Brock bbrock_at_gru.edu, 706-721-2903
• Andrea Buchanan abuchanan_at_gru.edu, 706-721-2136
• Julie Wilson jwilson_at_gru.edu, 706-721-9179
• Thank you