The financial statements for the fiscal year, which ends today, are due Aug. 1. A new vice president would not have taken part in management of the school's finances or preparation of the statements. Unfound money Many but not all of the inadequacies listed in the 1998-99 report stem from the loss of nearly four months of data in a conversion from Poise to Banner 2000 accounting software. Different funds operate different areas of the university. The general or operating fund, for instance, receives income from state appropriations, tuition and some fees and makes expenditures for salaries of teachers and some staff members and for utilities and maintenance of academic buildings.
Separate funds operate dormitories and food service.
Student fees that pay for intramurals, student government, cheerleaders, etc. go into a dedicated account. Federal programs each have individual funds. And there are others, all to account for different activities on campus. Schools want the general fund to start and end with a balance as close to zero as possible because at year end any surplus must be turned over to the state treasury. Minus any statutory or contractual requirement, auxiliary funds can carry money forward from one year to the next.