Pace University

SPARTA

Financial Management System

FMS

Chart of Accounts Structure

Introduction to the

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Chart of Accounts

The classification of accounts

The core of the Pace University Financial Management System (FMS)

New FMS provides flexibility with some restrictions

Essential to the preparation of the institutions financial statements

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Provides the basis for reporting (year-end, organizational, comparison), budget control (hierarchal and pooled), and securityDrives finance functions(AP, GL, FA, etc) and non-finance functions (Position Control, AR, etc.)Will be used in both the Student and Human Resource Systems as well as all other systems at the University that interface with the Finance System

Chart of Accounts cont.

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Chart of Accounts Basic Elements

FUND

ORGANIZATION

ACCOUNT

PROGRAM

ACTIVITY

LOCATION

At Pace, FMS users will enter an Index Code which automatically infers (enters) the basic elements of the Chart of Accounts

All automatically filled out by entering the Index Code except for the Account Code (required) and Activity Code (optional) Element

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Chart of Accounts elements

Index Chart Fund Organization Activity Location

Reporting entity (Pace University)

AccountingEntity which denotes the specific fund acctg identification

BudgetDepartment

Lowest level is the Cost Center Code

Cost Center Code used for data entry to infer the remaining elements of the chart except for account

Code used to identify special programs or activities that cut across organizational units

Account

Assets

Liabilities

Fund balance

Revenue

Expenditures

Transfers

FunctionalCategories denoting the programs that are related to the cost center (HEGIS codes)

Program

Campus building room

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Used for Budget ManagementCost Center Code - (index code entry)

Pace University defined value representing a set of Chart of Account elements (shortcut key)Relates all elements of the Chart of Accounts except for “account”Defines a specific authorized and budgeted combination of elementsShortcut to speed data entryImproves accuracy at the detail levelIs also the lowest level Organization Code

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COA Basic ComponentsFund Code

Self balancing set of accounts

Represents funding sources for the University

Used to comply with restrictions or regulations

Used to prepare annual financial statements

Used for federal reporting

Used for budget management

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COA Basic ComponentsOrganization Code

Identifies a unit of budget responsibility or units within the institutionDefines who spends the moneyEstablishes a hierarchy for roll up, summarization and reporting purposesUsed for budget control, budget management, reporting and securityCritical element of the COAUsed for other applications to define the University’s organizational hierarchy The Lowest level of the hierarchy is the Index code that relates all elements of the Chart of Accounts

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COA Basic ComponentsAccount Code

Line item within the institutions financial structure (provides specific reporting level detail for transactions)Used to classify General Ledger accounts (Assets, Liabilities, Fund Balances, etc.)Used to classify Operating Ledger accounts (Income, Expenditures, Transfers)Used for budget control

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COA Basic ComponentsProgram Code

Enables the institution to identify a functional level of activity such as Instruction, Research, Academic Support, etc.

Segregates activity (revenues / expenditures) by programmatic classification

Used for unit cost

Used to prepare financial statements

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COA Basic ComponentsLocation Code

Identifies physical locations for cost accounting purposes

Categorizes the institution’s facilities

Assists in the management of Fixed Assets and Plant Management

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COA - Hierarchy

Each Chart Of Accounts Element is created with a reporting hierarchy (Fund, Organization, Account, Program, Location)

Key to reporting options

Flexible structure

Allows for the summarization at varied levels

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Chart elementsHierarchy

Fund Organization Account

6 6 6 6 6 6 6

NA 5 8 4 5 1 5

R I I R I I I

All elements are alpha/numeric

Program

Field size

Hierarchy levels

Index #

Required / Inferred

Activity Location

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Index Fund Orgn Program Location

FA501 infers F00101 XFA501 P00503 CB17 (ADMINISTRATIVE example)

B0110 infers F00101 BU0110 P00001 CN30 (ACADEMI example)

(5) (6) (6) (6) (6)

Cost Center Code - Index

The Index code is the lowest level Organization Code.The Index code (alias) infers elements of the COA

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Fund Code Assignments

F00101 – F00132 Current Operating FundsF00501 – F01111 Non Operating FundsF01601 – F06261 Temp Restricted FederalF36101 – F36107 Federal PellF06301 – F07501 Temp Restricted State F36201 – F36605 Tuition Assistance (TAP) F07701 – F08341 Temp Restricted LocalF08401 – F09137 Temp Restricted Private F10001 – F13198 Endowment SpendableF16001 – F25197 Endowment Non SpendableF37001 – F50002 Student Organizations

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Fund Hierarchy -- Example

Fund level 1 F95500 Temp Restricted Local

Fund level 2 F90505 County of Westchester

Fund level 3 F07900 Office for Woman

Fund level 4 F07903 Westchester County Human Rights

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Organization Code AssignmentsAA0000 – AA9999

AS0000 – AS9999

BU0000 – BU9999

CS0000 – CS9999

ED0000 – ED9999

LW0000 – LW9999

NU0000 – NU9999

SA0000 – SA9999

WT0000 – WT9999

XAD000 – XAD999

XFA000 – XFA999

XHR000 – XHR999

XIT000 – XIT999

XPH000 – XPH999

XUR000 – XUR999

Academic Affairs

Dyson College

Lubin School of Business

Computer Science and Info Sys

Education

Law

Lienhard School of Nursing

Student Affairs

World Trade Institute

Offices of the President

Offices of Finance & Admin

Offices of Human Resources

Offices Information Technology

Offices of Philanthropy

Offices of University Relations

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Organization Hierarchy example

XFA000 Offices of Finance & Administration

XFA300 Facilities Management

XFA320 Energy Management

XFA370 Utilities Martine Avenue This is the Cost CenterCode

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Account Code Assignments

A00000 – A99999

E00000 – E99999

E00000 – E00999

E01000 – E01999

E02000 – E02999

E05000 – E05999

E10000 – E29999

E30000 – E49999

E50000 – E59999

E60000 – E69999

E70000 – E79999

E80000 – E89999

L00000 – L99999

N00000 – N99999

R00000 – R99999

T00000 – T99999

Assets

Expenditures

Full Time Salaries

Part Time Salaries

Work Study Salaries

Fringe Benefits

Supplies & Services

Utilities & Plant Contracts

Internal Service Charges

Capital Expenses

Depreciation

Interest

Liabilities

Net Assets/Fund Balance

Revenues

Transfers

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Account Hierarchy - example

Account level 1 E01100 Supplies & Services

Account level 2 E01110 Supplies

Account level 3 E19200 Supplies Computer

Account level 4 E19202 Computer Accessories

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Program Code Assignments

P00001-P00006P00101-P00102P00301-P00308 P00401-P00407

P00501-P00504

P00601-P00606

P00801-P00804

INSTRUCTION

RESEARCH

ACADEMIC SUPPORT

STUDENT SERVICES

INSTITUTIONAL SUPPORT

OPERATION & MAINT of PLANT

AUXILIARY ENTERPRISES

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Program Hierarchy - example

Program level 1 PP0000 Program

Program level 2 P00000 Instruction

Program level 3 P00006 Public Service

Chart of Accounts Lookup

http://appserv.pace.edu/chartofaccounts

A tool designed to assist users in the transition to the new system

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QUESTIONS ???