Funds

Funds are used to define the item's current fund for which an item is currently being used.  Codes are maintained under CORE>Funds.  The code can be up to 4 characters (numeric or alpha numeric).  The fund code is not necessarily the source from which the item was purchased. For example, an asset might be purchased from the general fund, but used in the cafeteria. In this case, the fund code would reflect the cafeteria use (where it is currently being used). To figure out what fund should be used, you should look at the location of the item for a clue as to its use. For example, any item located in the cafeteria would be fund 006. Then look for any exceptions. It is recommended that USAS fund codes be used for the Inventory fund codes, but possibly not to the same degree of detail.

There are three types of funds employed in governmental accounting. These codes are required for printing the GAAP schedules and are as follows:

• Governmental (G) - those funds through which most governmental functions typically are financed.
• Proprietary (P) - "commercial type" funds which are used for business type activities that are similar to those found in the private sector. Also known as enterprise funds.
• Fiduciary (F) - those funds which are held in a trustee capacity for other governmental units or funds.

Create a Fund Code

1. From the Core menu, select "Funds" to display the grid.
2. Click 
3. Enter desired information into the fund code window
   1. Code: Required field that must be manually entered. This field will allow for a maximum four numeric characters.  
   2. Description is the description entered to define the fund code.
4. Click on to add the fund code.   Click on to cancel out without saving changes.

Search/View a Fund Code

The Funds grid displays existing fund codes.  You can search for existing fund codes by clicking in the filter row in the grid columns and entering in the desired information. By default, the grid sorts numerically by Code.  Click on  to generate a quick extract (CSV or EXCEL format) based on what you filtered. Click on any row of the search results to see a highlight view of the record.  Click the view icon  to view a particular fund code.  

Edit a Fund Code

NOTE: Only the description of the fund code may be edited. 

To edit an asset class:

1. Query for desired fund code
2. Click on the edit icon  
3. Make desired description changes
4. Click on  to post the changes to the system. Click on Close to close the window and return to the grid without saving changes.

Delete a Fund Code

Delete may be used to delete a fund code that does not have any associated Inventory items.  

1. Query the desired fund code
2. Click on the Delete icon 
3. Confirm you want to delete by clicking on 

More Information on Fund Codes

The GAAP schedules require that each item be assigned a fund. Historical items which are on the system before the GAAP flag is set are not required to have a fund code assignment. However, if no fund code is assigned, these items original cost will be included under "Assets with unknown fund type' on the GAAP schedules. It is recommended that all items entered on the system be assigned a fund.