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Chart of Accounts

    • Last Updated: 06/13/2017
    • Effective Date:

    Policy Statement

    The University of Georgia uses a uniform coding scheme for the Chart of Accounts.  This uniform coding scheme is designed to allow standardized reporting.  The Chart of Accounts coding scheme is comprised of the following account number segments:

    • Fund Group
    • Function Code
    • Operation Code
    • Activity Code
    • Department Number
    • Project Indicator
    • Object Code
    Reason for policy
    The coding scheme was developed to allow classification of assets, liabilities, net assets, revenues and expenditures in accordance with guidelines developed by the National Association of College and University Business Officers (NACUBO).
    Procedures

    To request a new account or make changes to an existing account, the Account Addition/Change form should be completed and submitted to the Accounting department. A link to this form can be found under the Forms/Instructions section of this policy.

    Below are line-by-line instructions for completing this Account Addition/Change form:

    Line 2. Select the appropriate account action. Possible actions include account addition, deletion, name change, or number change.

    For New Account Additions:

    Line 3. The account type can be one of the following:

    Revenue: General, Lottery or Research Consortium.

    Expenditure: General, Lottery, Research Consortium or Cost Sharing.

    Revenue and Expenditure: Such accounts are requested in connection with Special Funding Initiative, Departmental Sales and Services, and Auxiliary Enterprises. Special Funding Initiative Program categories are defined by assigned project numbers to identify the type of expenditure. Departmental Sales and Services funds are a category of educational and general programs and are designated as support for a specific program. Auxiliary accounts are requested in connection with the Auxiliary Enterprises operations of the University.

    Asset: Asset accounts are represented by accounts receivable or inventories. Requests for this type should be infrequent.

    Liability or deferred revenue: Deferred revenue accounts are used for depositing receipts when the receipts represent a payment for a service/merchandise payment for a service/merchandise to be provided in a future fiscal period. For example, if a department receives money in June for a program to be conducted after July 1, then that money should be deposited into a deferred revenue account.

    Agency: Agency accounts are requested in connection with funds held in custody for the account of others and can be established only for activities or purposes directly related to the overall operation of the University. Guarantee of expenditures by source of funding and disposition of any residual balance should be indicated under line 12.

     

    Line 4. A request for a new academic department must have the prior approval of the Board of Regents. Permission should be sought through the appropriate Vice-President. A new project within an existing department requires the authorization of the appropriate unit head. Indicate the three digit department number.

    Line 5. Project (account) name.

    Line 6. Indicate the funding source as one of the following:

     - Regents' Appropriation (state, tuition, other general funds)
     - Departmental Sales and Service 
     - Auxiliary Enterprise  - Auxiliary Reserve (for Plant Fund accounts)
     - Auxiliary Surplus (for Plant Fund accounts)
     - Outside source (restricted as to purpose)
     - Other - specify the source

    Line 7. If personal services are to be budgeted, indicate each individual object code. For non-personal services, use the following indications as they apply.

    - Travel 64000
    - Operating Expenses 71000
    - Student Aid 77000
    - Equipment 84000

    Line 8. Name of person(s) to receive account status report.

    Line 9. Include how the funds are to be spent by function category (i.e., instruction, research, public service, academic support, etc.).

    Line 10. A complete description and purpose must be given for the new account requested. Attach additional pages if necessary.

    Line 11. Indicate the appropriate begin and end date for the new account.  If there is no end date on the account indicate "open-ended".

    Line 12. For Agency Accounts only, give disposition of balance at account closing. Attach additional pages if necessary.

    For account deletions:

    Indicate the current account name and number.  Enter the reason for deletion and the effective date the account should be closed. 

    For account changes(to an account or department):

    Indicate the current account name and number or the current department name and number.  List the new account name or department number, reason for the change and the effective date the change will take place.

    Signatures are required as outlined on the form.

    Forms/Instructions
    Responsibilities

    The Accounting Department is responsible for the preparation, content, maintenance, and control of the University Chart of Accounts. Sponsored Programs Post Award Accounting is responsible for restricted sponsored accounts and cost share accounts.

    Responsible University Senior Administrator: Vice President for Finance & Administration

    Responsible University Administrators:  Associate Vice President for University Business and Accounting Services

    Policy Owner:  Accounting

    Policy Contact:  Holly Byrd

    Policy Contact Phone:  706-542-6865

    Record Retention

    Citation or Reference:  Research Grant Records

    Number:  0472-09-006

    This series includes bank statements, purchase requests, purchase orders, requisitions, financial reports, accounts payable and receivable records, write-off records, discrepancy, payment schedules, operating statements, year-end projections, reconciliation and expenditure reports, cancelled checks, check stubs, moving expenses records, cost accounting reports, refund/disbursement request records, returned checks, deposit slips, travel records, credit voucher requisition records, cash balances and reconciliations, sales and cash reconciliation records, journal entries, outstanding obligations, refund/disbursement requests, receipts, and invoices. For expenditures processed with grant funding, all documentation should be retained for the life of the grant.

    Retention: Final research report: PERMANENT; All other records: 7 years after the end of the grant period.

    Policy Appendices