Award Management: Fund Numbers
A quick overview of the meaning of the most common three digit fund codes.
FUNDSFund = three digit code that tells us the source of the money. Basic and important info!
This is part of the funding string: FUND/DEPT/PROJECT/PROGRAM/ACCOUNT CODE
Rules of ThumbYou can’t transfer revenue, only expenses.
You can’t move revenue between funds.
GPR (General Purpose ) funding, flexible. L&S departments have discretion with the S&E budget, but salaries are managed by the divisional office. No effort reporting necessary.
Fund 131 represents all tuition generated by self-supporting instructional programs that have not been budgeted through UW-Extension and are outside the tuition pool. The fundamental requirement of such programs is that they result in net new enrollment and revenue growth to campus. It is also required that the programs do not compete with, or draw student away from, existing programs. Examples of these non-pooled programs include professional master’s and capstone certificate programs. Starting in FY16, central campus will assess a 10% tax on gross tuition revenue and the College will receive 1/3 of the remaining gross revenue. The remaining revenue will go to the department and be used to pay program expenses. Starting in summer 2016, summer session instruction will generate fund 131 revenue. Work the L&S Budget Office if you have programs generating 131 funds. No effort reporting is necessary.
External, non-Federal sponsored funds. These fund come from places like the Mellon Foundation, Packard Foundation, Vilas Trust (yes, Vilas is an external funder), various corporations, other universities, and other non-federal entities. Can be confused with gifts, but these are grants with budgets, terms and conditions and a sponsor to satisfy. Effort reporting is necessary.
Funding from the UW Office of the Vice Chancellor for Research and Graduate Education (OVCRGE, formerly the Grad School). This funding makes use of the WARF gift. Though non-sponsored, this funding can be strictly budgeted and you can’t move the savings from one category into another category. Includes start ups, retentions, fall competition awards and travel grants. No effort reporting required.
Revenue accounts. Allows deposit of revenue. Typically they are set up in conjunction with activity for which the department charges a fee, like registration fees for a conference the department is hosting. Expenses for the activity are then paid from the account. These funds are managed by the L&S Business office. Fringes are paid at actual rate, not the negotiated rate; fringe cost is hard to predict ahead of time, and may be more or less than the negotiated rate. No effort reporting necessary.
External, Federally sponsored funds from agencies like NSF, NIH, NASA, DOE, and others. These are usually awarded in response to a successful proposal. We must follow federal grant guidelines, but most federal agencies allow rebudgeting without prior approval. Effort reporting is necessary.
Overhead return funding. Typically departments encounter this funding as Capital Expense funding distributed by the College, but there are other special allocations of this funding for start-ups and other reasons. Typically, this funding is flexible. Fringes are paid at actual rate, not the negotiated rate; fringe cost is hard to predict ahead of time, and may be more or less than the negotiated rate. No effort reporting necessary.
Trust Funds. This money is managed by the UW System Trust Fund office. Somewhat like Foundation funds, there is typically principal that earns interest that can be spent. In some cases, the principal can also be spent.
Gift Funds. These projects can only accept gift funds, either transferred from UWF or donor gifts directly deposited into the 233-. Fringes are paid at the negotiated rate. These funds are very flexible, but, as UW managed funds, are subject to all the restrictions placed on UW managed funds. As soon as the Foundation funds are deposited into the 233- project, they lose the special abilities that Foundation funds have to pay for over the max meals and alcohol charges.
UW Foundation funds are not UW Funding, but can be transferred to UW 233- accounts to be used through the UW accounting system, or can be used to pay directly for things that UW managed funds cannot be used for, like meals over the state maximum or alcohol. Here's some more info about Foundation Funds: UW Foundation Overview.