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Accounting Office

 


Fund Numbers

Generally the Accounting Office is the point of contact in setting up new fund numbers.

Fund numbers consist of five digits ranging from 00001-89999 and must be assigned by the Accounting Office. The fund number is used to account for assets, liabilities, net assets, revenues, expenses, and transfers related to a particular source or activity.

Fund Number Ranges Used by NDSU

Departments need to closely manage their funds and projects.  The department should contact the Accounting Office if a fund is no longer needed and/or a fund name needs to be changed.

Separate funds are recommended when there is an external or internal need to have a separate accounting of a particular activity.

How to Establish a New Fund/Change an Existing Fund

 

An NDSU department can either use the New Fund Request form or contact the Accounting Office at 701-231-7432 or ndsu.accounting.gl@ndsu.edu.

Fund Functions

Local Funds

Local funds are supported by revenues generated by the university, such as: sales and services, fees, gifts, investment income, bond sales, transfers between local funds, etc…  

Both balance sheet and income statement accounts need to be managed by departments for local funds.   Net asset balances (i.e., assets less liabilities) for local funds need to be maintained in a surplus condition, although minimal temporary deficits are allowable in some cases (i.e., occasionally there are cash flow timing issues for a fund).  Assets in local funds need to be closely managed by departments and need to be used wisely in the best interests of the department, college, division, university and state.    Although budgets are now established in NDSU local funds, the overriding focus on spending limits is the net assets available in the fund.  The university strives to have all local fund net asset balances in a surplus condition at fiscal year-end.

Recharge Center Funds

Recharge Center funds (also known as Internal Service Funds), are setup for activities where the primary purpose is to sell goods or services to other university departments, rather than external parties.  These funds are subject to numerous regulations and require significant monitoring by the Grant & Contract Accounting Office.  There are restrictions on the net asset balance in the fund and expenses/transfers must be for activities related to the mission of the fund.  The NDUS web site has more detailed guidelines for these funds.
Summary of Recharge Centers

Local Impovement Funds

In local capital improvement funds the net assets are tracked by project numbers.  Separate project numbers are established for each local funded construction project.   These funds are for construction projects funded from local sources, rather than appropriations or grants.

Financial Aid Funds

Scholarships and loans issued by the Student Financial Services department are charged to a separate fund range (# 50000 – 69999).  These funds are managed for Student Financial Services.

Restricted Gift Funds

Restricted gift funds are maintained in fund number range 79000 to 79999.  The departments generating the gifts manage these funds, with oversight by the Grant & Contract Accounting Office.  The revenue source in these funds are typically gifts from private companies that are restricted to a specific study, program, or department, and do not meet the definition of a grant under NDSU Policy 803.

Agency Funds

Agency funds (fund range 80000 – 89999) are used by NDSU to hold monies as a custodian for organizations that are not part of the university.  Examples include student organizations, monies allocated to student government, monies held for the University System Office activities on campus, monies held for counties.

Appropriation Funds

Appropriation funds are supported by a combination of state general funds, tuition, State Land Department income and, in some cases, sales/services income.   In the Agriculture entities, separate funds are maintained for general funds and special funds.

With appropriation funds the focus is on budgets and expenses. Budgets and expenses in appropriation funds are tracked on a fiscal year basis (i.e., from July 1 to June 30).   In PeopleSoft/Oracle, the Commitment Control module is the primary tool for managing the appropriation budget on a daily basis.  There is an on-line inquiry called Budget Overview and a batch report called Budget Transaction Detail that gives the most useful information for appropriation funds.  Departments need to manage their budget and keep their expenses within the budget limits in appropriated funds.  Departments do not need to be concerned with the balance sheet accounts in appropriation funds.

In the Agriculture entities (department range 7000 – 7999), budgets are setup in fund and project numbers combinations.  But the department focus is still on budgets and expenses.

Grant Funds

In grant funds the fund number itself does not contain very meaningful information.  Grant activity is tracked by project number.  Grant project numbers are established through the initial setting up of the award by the Office of Sponsored Programs Administration.   With grant projects the department’s focus is on budgets and expenses.  Budgets and expenses in grant projects are tracked on a project life basis (i.e., the term of the grant award), not a fiscal year basis, in the PeopleSoft/Oracle Commitment Control module.   Departments need to manage their grant project budgets and keep their expenses within the budget limits of the grant projects. The Budget Overview inquiry, Budget Transaction Detail report, both noted above in the appropriation fund section, gives useful information for grant projects.   In addition, there is a PI report available in PeopleSoft/Oracle that gives excellent information on the financial status of grants.


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North Dakota State University
Phone: +1 (701) 231-7432 / Fax: (701) 231-6194
Campus address: Old Main 11
Physical/delivery address: 1340 Administration Ave., Fargo, ND 58102
Mailing address: NDSU Dept. 3100 / PO Box 6050 / Fargo, ND 58108-6050
Page manager: Accounting

Last Updated: Monday, October 13, 2014 3:00:05 PM