Explanation of Accounts
Athletic Accounts reside in two different legal entities: the University and the IP Foundation.
The university and the foundation have different policies and procedures.
Example: All revenue that enters the foundation falls under the foundations policies and procedures regardless of its origin
Generally speaking, foundation rules are not as stringent as university rules. Money can flow from the foundation to the university, but not vice versa.
Requests for reports on your accounts can be handled by the Athletics Business Manager.
Account Structure
The University account structure has four pieces of information: Internal Orders, Funds the Cost Centers and G/L accounts.
Internal Orders or IOs
Internal Orders are how programmatic activities are tracked such as operations, gifts, and scholarships.
Internal Orders are made up of 10 digits. The first 2 digits of Cost Centers determines if its an operation (41), a gift (33), or a scholarship (36).
All Internal Orders will have a fund and a costcenter associated with them.
Examples:
- Baseball operations IO is 4100001239 is associated with General Fund 21010000 and the Baseball Cost Center 1685000000.
- Baseball recruiting IO is 4100001260 is associated with General Fund 21010000 and the Baseball Cost Center 1685000000.
- Baseball team travel IO is 4100001274 is associated with General Fund 21010000 and the Baseball Cost Center 1685000000.
Funds
A fund is where the cash is located.
The fund describes the funding source. For example, a Gift Fund is where gifts are deposited.
Funds are made up of eight (8) digits and the first four help describe the fund. For example, Gift Fund numbers have the following structure: "53010000".
Cost Centers
Cost Centers describe long -lived activities and functions.
Cost Centers are made up of 10 digits. The first 3 digits of Athletic Cost Centers are always "168" or "169".
Crosswalk of New Internal Order numbers with leagacy Fund and Cost Center Combinations
General Ledger Accounts (G/L Accounts)
All transactions use a G/L Account in combination with the Fund and Cost Center.
G/L Accounts are descriptions of the transaction. Examples: sales, gifts, interest, travel, equipment, payroll, etc.
G/L Accounts are made up of six digits. The first three digits designate the descriptive group, and the last three designate the specific description.
G/L Accounts that start with a "4" are income accounts, and accounts that start with a "5" are expense accounts.
Foundation Accounts
The Foundation account structure is more like a standard checkbook. It has a simple account number of seven digits.