The University of ArizonaThe University of Arizona
Financial Policies & ProceduresFinancial Policies & Procedures
 

Appendix A - Glossary



The terms below are specific to the University of Arizona and/or excerpted from the Kuali Financial System (KFS) Glossary. Refer to the KFS Glossary  - (pdf) for additional terms.



  1. Account: A record established in the accounting system to accumulate activity related to a specific purpose within an organizational unit of the University, with one individual having primary responsibility for authorizing the activity.
  2. Account Delegate: An individual assigned by the Fiscal Officer to approve documents on their behalf.
  3. Account Manager: The manager oversees the management of the account at a higher-level than the Fiscal Officer, but rarely receives any direct requests for action from UAccess Financials. The Account Manager ensures that the fiscal officer has the education and training required to perform their assigned functions.
  4. Account Supervisor: The Account Supervisor ensures that funds are spent and managed according to the goals, objectives and mission of the organization, to ensure that the funds are being spent according to a budgeted plan and that the allocation of expenditures is appropriate to the function identified for the account. The Account Supervisor cannot be in any other role. Principal Investigator on Grant Accounts.
  5. Action List: A list that displays eDocs routed to you for some action (approval, acknowledgment, FYI). E-docs appear in your action list only when your action is requested, and disappear after you have taken action on them. Action list display preferences and filters can be set by the user.
  6. Allowable Cost: Costs that the University incurs in carrying out a grant or contract, and is allowed to recover from the sponsoring agency. Under the terms of Federally-sponsored grants and contracts, the University will be allowed to recover those costs that are allowable in accordance with the US Office of Management and Budget (OMB) Circular A-21.
  7. Attributes: Nondollar descriptive data associated with an account. Examples include the fiscal officer, account supervisor, account manager, sub-fund and the organization.
  8. Automatic Purchase Order: The Automatic Purchase Order (APO) is automatically generated when a requisition document is fully approved and all the APOrules are met. APO rules are: requisition total is less than the APO limit for the departmental organization (value set by Purchasing),  requisition total is greater than 0, there are no restricted items, the vendor has been selected from the vendor lookup, the vendor is not a restricted vendor, the requisition is not a recurring payment type of request, the departmental organization has not set an 'PO Total Cannot Exceed' amount, the requisition has not added alternate vendor names, the funds will be encumbered in the current fiscal year, the requisition does not contain a trade-in and discount line item, the requisition does not have a capital asset object code on any line items. An APOdocument can only be created under certain conditions, as specified in the business rules set up by the institution.
  9. Budget: A plan of income and expenditures for a given period.
  10. Budget Transfer: A movement of budget from one account to another account. Budget transfers only affect the amount maintained as revised budget in the system.
  11. Cash Transfer: A movement of cash from one general ledger account to another general ledger account, performed as a journal entry.
  12. Chart Code: Defines the valid charts that make up the high-level structure of the KFS Chart of Accounts. It also defines who has management responsibilities for each chart. Accounts and object codes are specific to each chart. Represented in KFS by a two character code.
  13. Clearing Account: An account that is used to temporarily accumulate activity, then is periodically zeroed out as the activity is subsequently transferred to other accounts or otherwise distributed. For example, a payroll clearing account is used to accumulate amounts withheld from employee paychecks. These withholdings are then remitted in lump sums to the appropriate payee, such as the IRS for Federal withholding taxes, and the Arizona Department of Revenue for State withholding taxes.
  14. Continuation Account: An attribute of Account; the account designated to accept transactions posted to an expired account.
  15. Contract Manager: An individual who performs the duties of buyer and manages the contracts of the institution. Responsibilities include but are not limited to vendor selection, reasons for vendor choice and PO transmission method.
  16. Cost Accounting: The accumulation and analysis of costs incurred in the production of goods or services during a specific period, used to obtain unit cost information.
  17. Doc Search: An option which allows you to search for documents. You may search by a combination of document properties such as Document Type or Document ID, or more specialized properties in Detailed Search. The format of search results is the same as it is in action list.
  18. Encumbrance: A budgetary tool used to help prevent accounts from overspending by reserving funds for anticipated future expenses. Encumbrances, also referred to as open commitments, are established using.
  19. Fiscal Officer: The Fiscal Officer ensures sufficient budget, spending is in accordance with account purpose, and reviews accounts monthly. The Fiscal Officer will be designated by the Account Manager and is responsible for the fiscal management of the account.
  20. Fund: An accounting entity with a self-balancing set of accounts for recording assets, liabilities, fund balance, and changes in fund balance. Accounts with similar accounting and reporting requirements are classified into funds.
  21. Fund Accounting: The process of analyzing, recording, summarizing, evaluating and interpreting the financial activity and status of a nonprofit organization and communicating the results.
  22. Fund Group: Funds with similar accounting and reporting requirements that are combined for accounting and reporting purposes.
  23. Fund Transfer: A movement of dollars from one fund balance to another.
  24. General Ledger: The official repository for the University's financial and budget information that stores account balance and budget information for multiple fiscal years as well as detailed records of all financial transactions.
  25. Internal Billing Unit: A service center established within the University community to provide goods or services to other departments at the University on a continual basis.
  26. Interfund Borrowing: The transfer of an asset or liability from one fund to another.
  27. Object Code: A four digit code appended to a 7 digit account to represent a specific item of revenue, expense, asset, liability or fund balance.
  28. Offset Account: A maintenance table that allows for the specification of flexible offsets for KFS accounts for institutions that choose not to record assets and liabilities in operating accounts.
  29. Organization: An entity within the University, typically a department, center, independent research lab or institute, which submits a formal budget for either State or local funding to the University Budget Office.
  30. Pre-Disbursement Processor: A KFS module and core component that receives data from systems that need to make disbursements and outputs a data file that can be sent to a check writer or formatted and sent to a bank for Automated Clearing House (ACH) direct deposits. Generates ledger entries when appropriate (for example, to relieve liabilities when making a disbursement against a KFS Payment Request document).
  31. |Principal Investigator: The person assigned responsibility for program and budgetary management of a grant or contract. Usually the Account Supervisor.
  32. Rate Determination: The process of analyzing cost data, principally for the purpose of determining billing rates and/or indirect cost rates applicable to grants and contracts and other University activities.
  33. Route Log: A special workflow function that displays the Routing history of a given document or selected documents. The documents are displayed in a separate window from the action lists, and Documents Searches. The Route Log displays a table of general document information for the document and a detailed list of current Actions Taken and pending Action Requests.
  34. Transaction: An entry made to the General Ledger to record information and update the data base.
  35. Use Tax: A tax on purchases of tangible personal property from an out-of-state vendor for use by the University of Arizona that is not for resale.
  36. Vendor: A business or individual from whom goods or services are purchased.