Organization is the lowest level in the Fiscal Oversight Hierarchy. The Fiscal Oversight Hierarchy includes levels for Department, Division, Officer, etc, to which the Organization rolls up for reporting purposes. An organization has a defined business objective, an established budget and fiscal oversight by a responsible person. It will usually exist for more than one year, have an organized group of employees, and may have specifically assigned space. A Project is a collection of related activities or functions supporting the University's missions of education, research, treatment, or services that center around a specific business objective.
Projects enable tracking of work activities from budget set-up through completion of the activity.
Projects are not a part of the Fiscal Oversight Hierarchy. Project Activity and project funding may cross organizational boundaries. Projects may be funded from multiple funding sources through the use of Awards. The PSOO is made up of the segments Project, Source, Object code, and Organization. This format is how all transactions are recorded in the General Ledger.