Princeton Financial Glossary - O

ORPA

Office of Research and Project Administration. All government grants and contracts are administered through this Princeton University office up to the point at which the sponsored award is created in the Princeton financial system. Post-award administration is primarily handled by the sponsored research accounting section of the Office of Finance and Treasury.

Off-campus

A project, or part of a project, is considered to be performed off-campus if the activity is conducted at a location other than Princeton University's academic lands and the majority of the Facilities portion of F&A (indirect costs), e.g., operation and maintenance, depreciation or lease of buildings, equipment and improvements, and library associated with Princeton University's facilities, both owned and leased, is not applicable. If a project is located in leased space and the lease is a direct charge to the project, then the project is considered off-campus; if the project is not charged directly for the lease cost and the lease is a part of Princeton University's Facilities & Administrative (indirect cost) rate, then the project is considered on-campus. In other words, the classification of on- or off-campus is made solely for the purpose of applying the correct Facilities & Administrative (indirect cost) rate.

Off-cycle Payroll Check

A manual payroll adjustment check created outside of the regular pay run.

Office of Information Technology (OIT)

A central administrative service department at Princeton that delivers information technology products and services for the Princeton community.

Office of Management and Budget (OMB)

OMB's predominant mission is to assist the President in overseeing the preparation of the federal budget and to supervise its administration in Executive Branch agencies. In helping to formulate the President's spending plans, OMB evaluates the effectiveness of agency programs, policies, and procedures, assesses competing funding demands among agencies, and sets funding priorities.

OnBase Document Imaging System

Enterprise software dedicated to the storage and organization of document images and files indexed and searchable by keyword values.

Operator Class

A term used at Princeton to assign purchasing, accounts payable, and general ledger access to a user in the PeopleSoft Financial system. An operator class confers specific permissions and roles.

Operator Security

A term used to define a user's system access profile. Each profile is assigned a primary permission list, an operator ID, the appropriate workflow roles, and routing controls to each financial system user. At Princeton University, an additional layer of security is also included to control operator access to project grants.

Original Receipt

The original merchant receipt or invoice issued by the supplier or service provider to document and substantiate the business transaction. A digital image of the original receipt is allowable provided that it is legible and the paper receipt is destroyed.

Originating Depository Financial Institution (ODFI)

A financial institution that is qualified to initiate deposit entries submitted by an employer as part of the direct deposit process.

Other Compensation

Compensation other than wages that an employer must report on an employee's W-2.

Other Funds (Fund 99)

Balance sheet assets/liabilities.

Overtime

Hours worked in excess of maximum set by federal or state law and that must be compensated.

Owning Department

Department assigned fiscal responsibility for a project grant.


 

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