The Fund chartfield classifies assets, liabilities, revenues and related expenses according to the purpose as defined below.
In fund accounting, all revenues received must be classified and deposited to the appropriate fund.
Fund Structure: Five alpha /numeric characters: e.g. G0000
Identifying fund type is required for all FMS transactions. Below are the types of funds used at UBC.
The General Purpose Fund records all transactions applicable to revenues received or earned for general use in UBC’s operations. The revenues are accumulated centrally and made available to faculties, departments etc. Historically General Purpose Operating fund is a budget-based fund, meaning the amount available for spending is based on actual expenditures (excluding interfund transfers) to the budget amount (not actual revenue received).
The budget amount is determined through the GPO budget process managed by Management Reporting and Budgeting. Effective fiscal year 2011, General Purpose Operating Fund is a revenue-based fund, meaning the balance available for spending compares actual expenditures and interfund transfers against actual revenue and budgeted amounts received (not only budgeted amount).
G0000 is used for all activity in this fund.
The Extended Learning Fund records all transactions applicable to student fees and other revenues received to deliver non-credit, distance and extra-sessional programs. Extended Learning Fund is a revenue-based fund.
G0001 is used for all activity in this fund.
The Fee for Service Fund records all transactions applicable to revenues generated by University Faculties, Departments, etc. that are generated on a fee-for-service basis. These funds support or supplement the General Operating Fund allocations of these departments. The Fee for Service Fund is a revenue-based fund, managed by the responsible department and has no external restrictions on their use.
G0002 is used for all activity in this fund.
The Salary Billbacks Fund records all billback transactions for Faculty of Medicine only. The salary billbacks fund is a revenue-based fund.
G0003 is used for all activity in this fund
The UBC Strategic Excellence Fund was established in 2016 to support the University's ambition to become Canada's best university over the next decade. The UBC strategic excellence fund is a revenue-based fund
G0100 is used for all activity in this fund
The Ancillary Units Fund records all transactions applicable to income generated by UBC's Ancillary operations. Ancillary operations are fully self-sufficient and receive no direct or indirect subsidy from the University. The ancillary funds are revenue based funds and defined by the Board of Governors.
UBC Vancouver Ancillary Units Fund (G0200-G2100)
|Athletics & Recreation||G0900|
|Child Care Services||G1600|
|Student Housing & Conferences||G0300|
UBC Okanagan Ancillary Units Fund (G3100 - G3500)
|Athletics & Recreation||G3500|
A separate code is used for each Ancillary operation as defined above.
The Awards Fund records all transactions applicable to grants received for student awards. The use of these funds is restricted by the donor or granting agency. The Awards Fund is a budget-based fund.
- W0000 is used for all award fund activity in UBC Vancouver.
- W1000 is used for all award fund activity in UBC Okanagan.
The Endowment Fund records the principal and related investment income that has been endowed. The principal may not be spent. The use of investment income derived from the principal is restricted by the terms of 'deeds' that are established for each fund. These principal funds may be established by directions from the donor or by UBC. The Endowment Fund is a budget-based fund.
Each Endowment Fund has a single PG and DeptID, unless income generated from endowments is managed on a 'pooled' basis. When income is 'pooled', the Endowment Fund will have more than one PG and DeptID:
- Revenue collected is credited to the Fund and DeptID, but not to a specific PG.
- Expense budgets are established in various PGs and expenses are coded to the appropriate PG, DeptID and Fund, i.e. Killam General, Killam Salary, Killam Advanced Studies.
The Specific Purpose Fund records all transactions applicable to external donations, grants and other contributions received for specific purposes other than Continuing Studies (G0001),Fee for Service (G0002), Salary Billbacks (G0003), Strategic Excellence (G0100), Awards (W0000 and W1000), Sponsored Research (Rxxxx), Capital (Pxxxx), and Agency (Zxxxx) funds.
The Specific Purpose Fund is a budget based fund, restricted by the donor or granting agency and is administered by Research Finance.
For more information on Specific Purpose Fund, please refer to Research Finance specific purpose guidelines.
The Sponsored Research Fund accounts for all transactions applicable to research projects and research activities. It is a budget-based fund and is administered by Research Finance.
The fund records all transactions incurred for research projects and activities and records all grants, awards, donations and contract monies received for research purposes. The use of this fund is usually restricted by the sponsor or granting agency.
Fund R2222 is unrestricted and records all funding allocated from internal sources for startup and residual balance from expired research PG that meets the internal reserves criteria. The use if this fund is to support principal investigator's research activities in his/her area of expertise.
For more information on Sponsored Research Fund, please refer to Research Finance research funding guidelines.
The Capital Fund records all transactions applicable to donations and grants received for construction, and major capital projects that are approved by the Board of Governors. The use of these monies is usually restricted by the donor or granting agency. Capital Fund is a budget-based fund.
A separate code is used for each capital project. Different phases of a project can be captured in multiple PGs that are associated to a single fund.
Agency or Conference Fund records non-UBC activity managed at UBC. These are primarily conferences held at UBC on behalf of external associations. This fund should only be used if the University is not liable to any project/event shortfalls. The Agency Fund is a revenue-based fund.