Administrative Overhead: An assessment against expenditures in Income Fund Reimbursable (IFR) accounts to recoup the indirect administrative and other indirect cost associated with operating an IFR program. The assessment is reflected in the individual IFR accounts as a reduction to the uncommitted cash balance.
Fringe Benefits: An assessment against personal and temporary service charges in Income Fund Reimbursable (IFR) and State University Tuition Reimbursable Account (SUTRA) accounts are made to recoup the costs of fringe benefits. This assessment is made against all temporary service charges, except those for students.
Income Fund Reimbursable (IFR): A self-supporting account that operates on revenue generated from its operations.
Maintenance Operations Overhead (M&O): An assessment against expenditures in IFR accounts to recoup the indirect costs associated with the facilities used by an IFR program. The assessment is reflected in the individual IFR accounts as a reduction to the uncommitted cash balance.
Allocation Transfer - also known as Budget Reallocation: Movement of allocation from one account or object to another account or object (within the same fund). Transfer of allocation from an account decreases the account's uncommitted balance. Transfer of allocation into an account increases the account's uncommitted balance.
Expenditure Transfer – also known as Journal Transfer: Movement of expenses incurred in one account to another account. Transfer of expenditures from an account increases the account's uncommitted balance. Transfer of expenditures into an account decreases the account's uncommitted balance.
Recharge Funds: Funds assigned to an account to recover the expenses incurred for goods and services provided by the college. The recharges include mail, printing and telephone services and central office supplies.
Authorized Signatory: Person(s) authorized to approve transactions associated with a particular account.
Encumbrance: A commitment of a portion of an account's allocation to purchase a particular good or service (for example, a purchase order).
Expenditure: A transaction that indicates the approval to issue a payment. The transaction could be liquidating an encumbrance or could be a direct payment out of uncommitted funds.
Fiscal Year: The time period used to monitor financial activity. The college's fiscal is July 1 through June 30.
Object Codes: Numeric codes representing distinct categories of funds within an account, especially personal service (PS), temporary service (TS), or other than personal service (OTPS).
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