11/8/2023 0 Comments Due to due from chart of accounts![]() For example, all Financial Departments will share one Restricted Expendable Federal Contracts fund. The detailed transactional information related to each federally sponsored project within this fund will be tracked using the PPM module.įund values are established by both UCOP and UC Davis. In most cases, Fund activity will be presented in the general ledger in summary and the Fund values will be shared amongst Financial Departments. A balancing segment is when the Aggie Enterprise system automatically generates due to/ due from transactions to ensure that debits and credits stay in balance, in this case within the Fund segment. The Fund segment has been designated by UCOP as a balancing segment for OP reporting. A Fund is maintained for each specific funding type (e.g., Unrestricted, Restricted-Expendable, Capital) which supports the compilation of GASB audited financial statements. This classification also supports external reporting of net position.įunds provide a method of tracking funding resources whose use is limited by donors, granting agencies, regulations and other external individuals or entities, or by governing boards. The Fund segment identifies funding resources. These resources, or “pots of money” are classified based on designations and restriction types. The Entity segment most closely aligns with the KFS Chart (e.g. A balancing segment is when the Aggie Enterprise system automatically generates due to/ due from transactions to ensure that debits and credits stay in balance, in this case within the Entity segment.Įntities at all levels have unique reporting and/or external auditing needs that can only be met with an Entity level designation (e.g., UC Davis Health).Įntity values are established by both UCOP and UC Davis. ![]() The Entity segment has been designated by UCOP as a balancing segment for OP reporting. Entity, however, will also provide high level management and operational reports. ![]() The Entity segment identifies the major UC system organizational units. These units generally require their own complete, separately audited financial statements to comply with external, regulatory reporting requirements (e.g., external audits, tax reporting), which cannot achieve compliance by using the audited financial statements issued by the Office of the President. The Entity segment identifies a major organizational unit within the UC system. The Entity is responsible for all of the financial activities and results of all Financial Departments, Programs, Projects, and Activities within the Entity’s hierarchy. Segment definitions, use criteria and examples are outlined below.
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