The University of Georgia Foundation Chart of Accounts :: Fund Administration :: UGA Foundation

 


Chart of Accounts

POLICY: 5.2
Effective Date: 01/01/2004
Last Updated: 01/23/2012
Policy Owner: Coyle, Cindy

The Chart of Accounts for The University of Georgia Foundation provides a thirteen-digit number scheme for budgeting and recording accounting transactions, as well as the preparation of financial reports.  The first seven digits identify the fund number.  The eighth digit designates the sub-account where the transaction is recorded.  The last five digits represent the object code that classifies the transaction for reporting purposes.

In general, the first digit of the fund number identifies the fund group to which the transaction is applicable.

1 - Unrestricted:  Operating Fund

2 - Unrestricted:  Discretionary Fund

5 - Restricted:  Contracts and Grant Fund

7 - Restricted:  Endowed Fund

8 - Restricted:  Quasi-Endowed or Non-Endowed Fund

9 - Restricted:  Non-Endowed Fund

0 - Deferred Fund

The second through seventh digits are randomly assigned to identify the individual fund.  The first through sixth digits will match the last six digits of the corresponding ASCEND account number.  For example:

ASCEND # 30-72-0900

UGAF Fund #720900

The eighth digit designates the sub-account.  This sub-account is used to identify the FASB classification or intent of the transaction. The Accounting Office determines which transactions apply to which sub-account.  Sub-accounts are combined to create the total balance and activity of a fund.

0 - Spending                   (Unrestricted)

1 - Earnings/Income        (Temporarily Restricted)

2 - Appreciation              (Temporarily Restricted)

3 - Corpus                      (Permanently Restricted)

4 - Pledge

The next five digits are assigned by the Financial Services staff to identify the type of transaction.  This five-digit sequence is the object code and is separate from the fund number.  These object codes represent major income statement and balance sheet classifications for the preparation of financial reports as follows:

The first digit represents the major balance sheet and income statement categories, the second through fifth digit are randomly assigned.

1XXXX - Cash/Cash Equivalents

2XXXX - Non Cash Assets

3XXXX - Liabilities and Fund Balance

4XXXX - Revenues, Gifts, Market Value Adjustments, Gains/Losses, & Transfers In

5XXXX - Personnel Expenditures

6XXXX - Operating Expenditures

7XXXX - Equipment Expenditures

8XXXX - Travel Expenditures

94100 - Scholarships

94200 - Lectureships

9XXXX - Transfers Out