Policies & Procedures Manual - Elizabeth City State University

400.3.1.43. The single digit University budget code represents the five-digit code assigned by the officeof State Budget to identify various State funds. In the FRS this information is carried as anattribute to the FRS account number. The budget codes and the corresponding State budgetcodes are:1 General Academic Funds (16086)2 Overhead Receipts (26086)4 Capital Improvements (4 )5 Auxiliary Funds (56086)6 Institutional Trust Funds or Sponsored Contractand Grant Funds0 Trust Funds on deposit in local bank4. The purpose code identifies the broad institutional purpose to which a transaction relates.Purpose codes are designated by the Office of State Budget and Management and/or GeneralAdministration, and apply uniformly to State Funds, Trust Funds, and Contract and GrantFunds (see ACT App 1.0). In the FRS this number is incorporated as a part of the accountnumber for visual identification.5. The department segment of the account number identifies the activity of the departmental costcenter in which a transaction should be identified. The function number assigned to adepartment is used for State Funds, Trust Funds, and Contract and Grant Funds. In the FRSthis information is also incorporated as a part of the account number.6. Object codes are used to record expense/revenue Subsidiary Ledger and are referred 'to asAccount controls are used to record activity in the General Ledger.An account control is a four digit number used to record activity in the general ledger.Account control ranges are defined as follows:AssetsLiabilitiesFund BalancesFund AdditionsFund Deductions1XXX2XXX3XXX4XXX5XXXFor a listing of expenditure and revenue see appendix (ACT APP 1.0);