Chart of Accounts
The purpose of the Chart of Accounts is to represent the institution's financial reporting system in a reference guide for the campus community. This guide depicts the institution's accounting system in a systematic classification structure. Departmental accounts are developed to be compatible with the institution's organization structure, and are reflected in the chart of accounts in accordance with our financial reports.
The Chart of Accounts is a formalized arrangement of account information, and is provided to campus users to assist them with the identification of accounts and proper expenditure classification. Programs are described beginning on page 1, and numbers are arranged numerically within the program that the current unrestricted and restricted funding. Each account has a division number designation. This two (2) digit number is assigned according to the schematic presented on page 12 of the chart of accounts. This number aids in sorting accounts in the institution's financial reporting by their designated division.
Also included is a section for the identification and classification of expenditure objects and sub-objects. This information is provided to assist the user in properly identifying what is being spent (charged) to an account.
DEPARTMENTS ARE EXPECTED TO PROPERLY CLASSIFY EXPENDITURE TO ENSURE THAT OUR FINANCIAL REPORTING IS ACCURATE!!
It is imperative that departments use appropriate subcodes. If after referring to the chart of accounts, an appropriate subcode cannot be identified, contact your unit/department budget officer to assist you.