Download - Chartfield Foundations- Fund-Deep Dive
CHARTFIELD FOUNDATIONS- FUND-DEEP DIVEThis is a 5-unit module that explores the new ConnectCarolina chartfield structure.
Note: this presentation is designed for ConnectCarolina users in SPH only as it is customized for SPH-specific chartfields.
This presentation is best viewed on a device with a screen resolution of at least 1280x960.
#2. FUND – A DEEPER DIVE
After completing this unit, learners will:
Understand the two components of the Fund chartfield: major fund group and purpose
Understand that major fund groups are similar to existing fund types (e.g. state, F&A)
Understand that in ConnectCarolina the user must select the appropriate purpose code for each transaction
Understand where to find information about purpose code options
CORE CHARTFIELDS – FUND Fund is one of the five core chartfields required on all transactions.
For every transaction, you’ll need to answer two questions:
What major fund group will be supporting the transaction? What is the purpose of the transaction?
Fund chartfield is a single 5-digit code capturing both major fund group (3 digits) and purpose (2 digits).
Source AccountDepartme
ntBusiness
Unit
Fund
Major Fund Group supporting transaction
Purpose of transaction
2XX XX
We will go over the major fund groups and then the purpose codes.
OLD ENVIRONMENT (FRS) ConnectCarolina has the same fund types that were grouped in the old FRS
ledgers. The old FRS ledger grouped many different types of funds in one ledger. ConnectCarolina reorganizes these groups into unique fund types.
FRS Ledger FRS Fund groups
2-XXXXX • State appropriations• Academic affairs• Health affairs• AHEC
• SBTI
3-XXXXX • State receipts• F&A• Grant residuals• Self-supporting accounts (e.g. student fees)• Other auxiliary operations (e.g. recharges)
4-XXXXX & 5-XXXXX • Contracts and grants from OSR
6-XXXXX • University trust funds from• Expendable gifts, or • Income from university endowments • Income from foundation endowments• Contract Trusts (non OSR)
Below is a listing of major fund groups applicable to SPH.
Major Fund Group
Subgroup
State Funds Academic Affairs
Health Affairs
AHEC
Educ. & Self-Supporting
Contracts & Grants
F&A
University Endowments
Unrestricted Endowment Income
Restricted Endowment Income
University Trusts
Unrestricted
Restricted
Auxiliary
State funds includes all state sources (appropriations, SBTI, receipts) using three fund numbers to distinguish between academic affairs or health affairs or AHEC.
Educational and Self-Supporting funds includes revenue and spending from student fees, grant fund residuals, workshops / conferences.
Contracts & Grants includes all OSR-managed projects.
Major Fund Group supporting transaction
Purpose of transaction
2XX XX
Below is a listing of major fund groups applicable to SPH.
F&A includes all F&A activity in a single fund.
University Endowments includes the income in a new fund grouping.
University Trusts includes gifts, contractual trusts (non-OSR) and foundation allocations.
Auxiliary includes recharges and service centers.
Major Fund Group supporting transaction
Purpose of transaction
2XX XX
Major Fund Group
Subgroup
State Funds Academic Affairs
Health Affairs
AHEC
Educ. & Self-Supporting
Contracts & Grants
F&A
University Endowments
Unrestricted Endowment Income
Restricted Endowment Income
University Trusts
Unrestricted
Restricted
Auxiliary
Fund chartfield is 5 digits.
This table shows the first 3 digits of the fund.
These 3 digits represent the major fund groups.
Major Fund Group
Subgroup Fund Grou
p Code
State Funds Academic Affairs 201
Health Affairs 211
AHEC 221
Educ. & Self-Supporting 241
Contracts & Grants 252
F&A 271
UniversityEndowments
Unrestricted Endowment Income
281
Restricted Endowment Income
282
University Trusts
Unrestricted 291
Restricted 292
Auxiliary 295
Major Fund Group supporting transaction
Purpose of transaction
2XX XX
The Fund is a 5-digit code. The first 3 digits represent the major fund type.
The final 2 digits represent the purpose – why the transaction is being made.
While many Purpose codes are available, only a handful will be directly applicable to SPH on a daily basis.
These are shown in the table along with guidance for their use.
Major Fund Group supporting transaction
Purpose of transaction
2XX XX
Purpose
Code Description Guidance
01 Reg Term Instr
Use for faculty teaching and teaching assistant effort & transactions
10 Organized Res
Use for faculty, staff and student research effort & transactions
19 Other Auxiliary
Use for transactions and effort related to recharges.
30 Student Fin Aid
Use for student support.
36 Educ Agreements
OSR will assign to selected grants. No need to use unless OSR assigns this purpose.
52 General Acad Supp
Use this code for all items that don’t fall in another category.
93 AHEC Health Sci Supp
NCIPH should use on funding from AHEC.
Purpose must be determined for each transaction, including payroll actions.
The nature of funding, for example trust funds restricted for specific uses, might inform the purpose of the transaction.
The primary duties of a position may also inform the purpose in determining salary sources.
Major Fund Group supporting transaction
Purpose of transaction
2XX XX
Purpose
Code Description Guidance
01 Reg Term Instr
Use for faculty teaching and teaching assistant effort & transactions
10 Organized Res
Use for faculty, staff and student research effort & transactions
19 Other Auxiliary
Use for transactions and effort related to recharges.
30 Student Fin Aid
Use for student support.
36 Educ Agreements
OSR will assign to selected grants. No need to use unless OSR assigns this purpose.
52 General Acad Supp
Use this code for all items that don’t fall in another category.
93 AHEC Health Sci Supp
NCIPH should use on funding from AHEC.
FUND – PUTTING IT TOGETHER This table summarizes the relevant major fund groups
and purposes, which come together to form the Fund.
Major Fund Subgroup
Fund Group Code
State Funds Academic Affairs 201
Health Affairs 211
AHEC 221
Educ. & Self-Supporting 241
Contracts & Grants 252
F&A 271
UniversityEndowments
Unrestricted Endow Inc
281
Restricted Endow Inc 282
University Trusts
Unrestricted 291
Restricted 292
Auxiliary 295
Purpose Code Description Guidance
01 Reg Term Instr Use for faculty teaching and teaching assistant effort & transactions
10 Organized Res Use for faculty, staff and student research effort & transactions
19 Other Auxiliary Use for transactions and effort related to recharges.
30 Student Fin Aid Use for student support.
36 Educ Agreements
OSR will assign to selected grants. No need to use unless OSR assigns this purpose.
52 General Acad Supp
Use this code for all items that don’t fall in another category.
93 AHEC Health Sci Supp
NCIPH should use on funding from AHEC.
Fund Group Code Combined with
Purpose Code
SEARCHING IN CONNECTCAROLINA
There is no need to memorize codes. ConnectCarolina allows for searching by the fund description which captures both the major fund group and the purpose components.
For example, a search on health affairs (state funding) brings up the following results for you to select the appropriate Fund:
SEARCHING IN CONNECTCAROLINA
Alternatively, if you are trying to search the appropriate Fund given the purpose of regular term instruction, a search on the descriptions that contain “reg” brings up the following results for you to choose the appropriate Fund:
CORE CHARTFIELDS Congratulations! You’ve completed the second unit of Chartfield
Foundations. The new chartfields will require time to digest. Don’t worry
about memorizing codes. Resources will be provided to facilitate your work.
Don’t forget – A list of purpose code definitions can be found on the SPH website!
Please continue the presentation to take the summary test. Your answers will be kept anonymous and only reviewed in aggregate to see which areas may need additional training.
Source AccountDepartme
ntBusiness
UnitFund