For expenditure reporting purposes, any item costing more than a specified amount, as determined by the institution or appropriate governmental unit, and having an expected useful life of more than one year generally should be classified as a capital expenditure. Published financial reports usually classify expenditures and transfers in terms of function, organizational unit, and object in that order. Personal services, staff benefits, printing and stationary, travel, communication, food, fuel, etc. Object classification has importance as a tool for internal management, but should be considered complementary to the classification of expenditures by function and organizational unit and should not replace these classifications in the various schedules of current funds expenditures. Instruction, Research, Public Service, Academic Support, Student Services, Institutional Support, Operation and Maintenance of Plant, Scholarships, Auxiliary Enterprises.
Expenditures differ from transfers .
Expenditures are the recognition of the expending of resources of the Current Funds group toward the objectives of each of the resources of the Current Funds group toward the objectives of each of the respective funds of that group. Transfers are amounts moved between fund groups to be used for the objectives of the recipient fund group. There are two types of transfers, mandatory and non-mandatory. They include the following. Loan Fund Matching Grants.