Other Funds

Funds grouped in the "Other Funds" category are the following:

Balance Sheet Accounts: Include asset and liability accounts not included in other sub fund group types. Includes cash, accounts receivables, inventory, clearing accounts, accounts payable and other liability accounts. Some campus departments may have accounts receivables, inventory accounts and clearing accounts in balance sheet accounts. All other accounts are managed by Finance & Business Services.
Loan Funds: Includes outstanding loan receivables and are primarily managed by Student Accounting.
Investment in Plant: Accounts for the investments the University has made in capital assets and is managed by Capital Asset Accounting.
Plant Funds: Accounts for construction projects that are in progress and are managed by Design & Construction Management and Capital Asset Accounting.
Retirement of Indebtedness: Used to track the university debt and payments and are managed by General Accounting.
Other Unrestricted: COFI fund 13U20

For more information on these types of funds contact General Accounting.

Balance Sheet Accounts

Accounts receivables should be reconciled at least quarterly and any uncollectible amounts should be written-off in a timely manner.
Clearing accounts should be reconciled monthly and the accounts should clear as they are only pass through accounts.
Supply inventories greater than $50,000 are required to have an annual physical inventory.

I have accounts receivables in my expense accounts, is that correct?
Yes, most departments have chosen to manage their accounts receivable within their funds and not separately in the Balance Sheet sub fund group. At the end of the year, those accounts receivables are reclassified to the appropriate balance sheet account for reporting purposes.