1. Sources of University Funds How money is different within a University

2. Presentation Outline Types of money Limitations and spending restrictions Budget vs. Cash

3. Types/Color of Money Education & General Tuition Differential Carry Forward Auxiliaries Local Fees Athletics Concessions (Vending) Construction Sponsored Research Research Foundation Foundation

5. Education & General E&G funds include General Revenue (primarily Florida’s Sales Tax), the Educational Enhancement Trust Fund (Lottery sales), and Student and Other Fees (tuition, out- of-state fees, and other miscellaneous fees).

6. Tuition Differential Similar to E&G funds, tuition differential funds are generated through increases in tuition. Universities are able to increase tuition up to 15% per year. Have additional spending restrictions. Therefore, unique fund code (121) was established to assist with tracking expenses in OMNI.

7. Carry Forward E&G funds remaining from the previous fiscal year are placed into a Carry Forward fund. Some universities may sweep these, and/or “certify forward” obligated funds not spent in that fiscal year, as the State of Florida still practices.

8. Auxiliaries Auxiliaries are revenue generating business type activities that support the mission of the institution and provide essential services to the campus community. There are several different types of auxiliaries: Enterprise Sales & Services of Educational Activities Sales & Services of Non-Educational Activities Materials & Supplies Fees Other Examples: FSU-Card Center, Seminole Golf Course, Transportation Services, Telecommunications (now w/ ITS)

9. Local Fees Fees paid by students in addition to tuition

10. Local Fees Activity & Service Fee Athletics Fee (also a fund) Health Fee Technology Fee Equipment Fee Financial Aid Fee Building Fee Capital Improvement Fee Transportation Fee

11. Athletics The Athletics fund is comprised of money primarily generated from student fees, ticket sales, conference distribution, bowl receipts, and other forms of revenue.

12. Concessions (Vending) The concession funds are generated primarily from commissions made from the vending machines, and are then distributed by the budget office to individual departments.

13. Construction Funds PECO (Public Education Capital Outlay) fund Private sources State Matching CITF (Capital Improvement Trust Fund) PO&M (Plant Operation & Maintenance)

14. Sponsored Research This fund consists of grants, contracts, and other agreements between the University and government sponsors. Funds or monies may consist of federal, federal flow thru, state, not for profit organizations, and private sources. Note: Formerly referred to as Contracts & Grants or C&G.

15. FSU Research Foundation This fund consists of grants, contracts, and other agreements between the University and private (non- government) sponsors. Funds or monies may consist of private corporations, non-profit organizations, and other private sources.

16. Direct Support Organizations (DSOs) Direct Support Organizations are non-profit organizations that operate exclusively to provide the University with additional resources from private gifts, or other sources.

17. Direct Support Organizations (DSOs) FSU Foundation FSU Research Foundation Seminole Boosters Ringling Museum Foundation International Programs Association Alumni Associations Financial Assistance Performing Arts Center Foundation

18. FSU Foundation The FSU Foundation organizes the fundraising activities and funds management for the university. As a DSO, it is a non-profit corporation, today manages an endowment of $370 million and has total assets of $498 million (per Audited Financial Statements as of June 30, 2012 LINK ). LINK Types of funds include scholarships, graduate assistantships, endowed professorships, and general development funds.

19. Controller’s Office Expenditure Guidelines Controller’s Office > Payables & Disbursements > Additional Guidelines > Expenditure Guidelines http://control.vpfa.fsu.edu http://control.vpfa.fsu.edu What can be purchased on what fund?

20. Budget vs. Cash How they are different/similar based on the color of money?

21. Budget vs. Cash E&G: Budget = Cash Auxiliary: Budget ≠ Cash Sponsored Project: Budget = Cash

22. Salary vs. Non-Salary Expenses Salary: Expenses for specific salary positions (ex: 9-month faculty, USPS, A&P) Non-Salary: Expenses in Budget categories such as OPS, Expense, or OCO

23. Rate vs. Salary Rate: the annualized gross salary for a specific position Salary: Rate plus fringe benefits

24. Rate vs. Salary E&G: Department manages the budget for only the rate. Auxiliary: Department manages the budget for salary (rate plus fringe) Sponsored Research: Department manages the budget for salary (rate plus fringe)

25. Wrap up & Questions

26. Contact Information Lauren Barrett– Quality Assurance lmbarrett@fsu.edu 645-8611 Paul Harlacher – University Business Administrators pharlacher@fsu.edu 644-6972 Slides available at: http://controller.vpfa.fsu.edu/traininghttp://controller.vpfa.fsu.edu/training