Glossary of Terms

Actual = The revenue earned, or costs incurred

Budget Child = Budget amendment lines are entered and the Operating Budget Availability Report is generated using the Budget Child structure

Budget Name = The specific identifier or label assigned to a budget

Budget Structure = organizes the budget control rules

Campus = CAM001 WP Online, CAM002 Main Campus

Capital = A classification of a capital purchase by Capital Project. Capital project funds have a period of "Duration" rather than fiscal year.

Commitments = Requisitions

Company = WPU William Paterson University, WPF William Paterson Foundation, WPA William Paterson Alumni Association

Cost Center (CC) = Departments within the organization are organized into cost center hierarchies that align with their respective divisional organizational structures

Cost Center Manager (CCM) = Manager in charge of the Budget for the Cost Center

Expense = University spending such as salaries, supplies, equipment, etc.

Fiscal Year = University fiscal year is July 1 – June 30th

Fund = A worktag that identifies the funding source such as University, Auxiliary, Grants, etc.

Gift = A classification used to record and track donor activity; in WPU the gift code is used to identify the original source of gift revenue received by WPU from the Foundation.

Indirect Cost Recovery (ICR) = Revenue with fund balance that carries forward. These funds are derived from grants and allocated according to ICR policy.

Ledger Account = Classifies what type of revenue or expense. Accounts beginning with 5XXXX Revenue, 6XXXX Personnel and 7XXXX Non-Personnel Expenses

Obligations = Funds that represent obligations to pay (encumbered)

Original Budget = The Approved annual budget approved by the Board of Trustees

Parent/Child = The hierarchical structure within organizational elements.

Partner Affiliation (PA) = Designates activity with external partners such as PA001 Mercer CCC.

Program Code = NACUBO Classification such as 10 Instruction, 20 Academic Support, 55 Auxiliary, etc.

Revenue = A source of funding coming into the University such as tuition, appropriation, housing, etc.

Revenue Category (RC) = A more detailed classification of revenue. Multiple revenue categories may roll up to a given ledger account.

Source Funded (SF) = Activities that must be tracked and carry forward fund balances.

Spend Category (SC) = A more detailed classification of a purchase. Multiple spend categories may roll up to a given ledger account.

Term/Semester = TERM001 Fall, TERM002 Spring, TERM003 Summer I, TERM004 Summer II, and TERM005 Winter