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Understanding University Budgets: Chartfield Fields and Budget Review

Learn about Chartfield fields like Department, Fund Code, and Earnings Acct Code. Review budgets, available balances, and account types for projects and residual accounts. Access key information via MyUFL to manage budgets effectively.

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Understanding University Budgets: Chartfield Fields and Budget Review

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  1. CHARTFIELDS OVERVIEW • REVIEWING BUDGETS AND AVAILABLE BALANCES ON PROJECTS AND RESIDUAL ACCOUNTS

  2. Chartfield Fields and What They Represent • Department = Accountable Unit - Lake Alfred CREC - 60730000 • Fund Code = Where is department $$$ (monies) coming from? (Ex: State, Sponsored Research) • Program = Functional Expense Classification (Ex: Instruction, Research, Extension) • SOF = Identifies Outside Funding Source • Project = Grant # and activity • Earnings Acct Code = Payroll

  3. Reviewing Your Budgets • Log into MyUFL • Go to Commitment Control • Review Budget Activities • Budget Inquiry • Budget Details • Key in the following under Budget Details: • Ledger Group = KKGMCHD – for all Projects • Or Ledger Group = Cash Based – for Residuals • Project = 00037805

  4. Results from Budget Search • There are two levels of budget for all Projects • Level 3 = Direct and Indirect, there are no different account types, but there are budget restrictions for Ex: OCO items must be listed in the budget in order to purchase. If item is not listed you must get permission from your sponsor in order to purchase a piece of equipment. • Level 5 = Budget restrictions, you will need to request budget transfers to your different account types

  5. Budget 5 – Account Descriptions • 600005 = Salary • 700005 = Other Expenses • 780000 = Capital Assets or OCO • 771005 = Domestic Travel • 772005 = Foreign Travel • 812005 = Fac & Admin or Indirect Cost

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