Ancillary fund Records the financial activity, i.e., revenues, expenses, of ancillary operations . Ancillary operations Organizations or activities which normally generate enough revenue to meet or exceed their full direct, and indirect costs. See Ancillary fund Assets Property or financial resources available to the University, which permit it to carry out its economic activities. Assets may be tangible, i.e., buildings, equipment, land, vehicles, and books, or intangible, i.e., license fees or good will. A posting that is generated by the system, i.e., some cash discounts, exchange rate differences, tax on sales and purchases, and expense or income postings.
Automatic postings show as a separate line item .
Whenever a financial transaction is posted in FIS , the system checks to ensure that enough money is available to pay for the transaction. Availability control checks occur within the Funds Management Module . Checks are made against budget levels in CF centres and funds. If there is not enough money available to cover a transaction, then the transaction will not be posted. Awards Funds given to the University, including grants , trusts , and contracts .