The statement is arranged to facilitate reference and account number identification as well as to provide a broad explanation of the format and content of the University's Chart of Accounts. Provides a method to meet the record keeping requirements of the Office of State Budget and granting agencies as well as to generate more meaningful information for improved budget and expenditure reporting. Creates a sound base for the University's accounting systems and the development of an effective program utilizing electronic data processing equipment. Uses The account numbering system provides a consistent method of identification of the accounts in which a transaction is to be recorded. Unique identification of accounts within the University is used in the system.
Standard meaning is assigned to each number within a segment.
The Account Numbers appear on the Budget and Expenditure Reports and other reports and are used on personnel and payroll forms, requisitions, budgets, transfers of funds, and other documents of a financial or budgetary nature affecting the University accounts. The Account Numbers provide a means of interpreting and classifying data into an abbreviated and condensed format. To maintain standard coding of information and avoid unnecessary duplication of numbers and effort, all deletions and additions to the Chart of Accounts must be approved by the Comptroller's Office. Each Account Number for funds contains the Budget Code, the Purpose Code, Department Code, and Expenditure Object Code. This five digit code is assigned by the Office of State Budget to identify various State appropriated and state reported funds.