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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 ???