Departmentally Managed Funds Revenue Entries

LAST UPDATED: November 15, 2016

What You Should Know

Academic Administrative Allowance Fund (A0001) Fiscal Year Allocations

Academic Department Allowances are posted in Fund A0001 in July, based on the memos sent from the Provost to your organization. You can see these entries in your organization’s primary Department ddd00-Fund A0001-Account 4804-Program GU181. If you have any questions about your Academic Administrative Allowance, please contact Anna Cook .

Organizations may assign these balances to specific programs or departments to reflect their plans to spend by departmental area, or activity category. The Prime Fund Assignment journal page may be used to assign parts of this balance to other Departments or Programs in your organization, if you wish to set spendable amounts for those chartstrings. Assignment Journals replace the budget allocation spreadsheet that formerly was used to re-distribute Academic Allowances.

Other Central Source AXXXX Funds

Initial central postings to other departmentally managed AXXXX Funds are booked in July, with the exception of the Research Rebate Fund (A0002). If you have questions about Higgins Replacement Fund (A0008) or IAC Rebate (A0050) allocations, please contact Steve Semenuk .

Research Rebate Fund (A0002)

Research Rebate postings occur in September, because the Budget Office needs to review activity in the closed prior year in order to calculate these allocations. If you have any questions about your organization’s Research Rebates, please contact Anna Cook .

Endowment, Gift and Government Funds

The Budget Office does not post expense budgets to Information Warehouse reports for Endowment, Gift or Government funds. Instead, with the exception of sponsored research projects, spendable balances in other fund groups are determined by posting actual income and expense entries, just as in the previous accounting system. Actual “revenue” entries include gift receipts, endowment payout distributions, other income receipts, transfer and assignment journals, service center cost recoveries, etc.

Endowment Payout and External Trust Fund Income Distributions

The Budget Office posts the full-year estimated payout distribution for Endowment Funds (EXXXX) on Account 4471 in July. Distributions are updated quarterly (late October, late January, late April, June close) to reflect new gifts to endowment, liquidations of quasi-endowment, and changes in distribution formulas for Princeton operating departments. External trust Fund (FXXXX) income (Account 4472) is posted on a quarterly basis, reflecting any trust income received during that quarter. Due to the unpredictable timing and size of these payments, whole-year estimates are not posted for external trust funds.

If you have any questions about your organization’s endowment payout or external trust fund distributions or amounts--or would like to change the default chart string into which endowment is posted--please contact Steve Semenuk .

Income Posting for Gift Funds

Spendable balances for expendable gift “B-funds” may increase throughout the year as gift receipts are posted by the Development Office. Please contact the Office of Alumni and Donor Records if you have questions about gift deposits in your organization’s chartstrings.

Movement of Balances in Departmentally Managed Funds

Managers can assign balances in designated “A-funds” (other than A0000 and A0018), Gift Funds (“B”), Endowment (“E”), and External Trust Funds (“F”) to other Departments and Programs using Prime’s Fund Assignment journal page throughout the year. Further discussion of fund Balance Management and Closing procedures and Assignment Journals may be found by clicking on these links.


 

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