Each fund within each major fund group must be assigned to a University department. A cost center is the lowest level of a discreet activity, whose financial transactions are to be recorded, monitored and maintained separately from all other cost centers. The individual who is responsible for a cost center, that is the individual who directly approves transactions that impact the cost center, is called the cost center administrator. In a research grant or contract, this individual is the Principle Investigator. The Object code specifically defines the type of transaction being processed.
Object codes are generic that is they are used across all cost centers.
In Policy No.