What is it?

A Fund Code is six digits in length and is the first element of the FOAPAL. Each individual Fund represents the source and intended purpose of funds and how they should be spent.

FundCode

Why is it important?

The Fund tells us which bucket of money the transaction belongs to based on the accounting structure and in some cases defines ownership of the transaction.  Carleton has over 6000 individual Funds that are grouped into common categories:

Carleton has over 6000 individual Funds that are grouped into common categories:

  • Operating (100000)
    • houses the activity associated with our main function of instructional teaching
    • consists of just 1 Fund for all departments
  • Ancillaries (12%)*
    • includes activity for operations that are supportive of, but not directly related to, the University’s primary function of instruction and research
    • examples include Athletics, Housing, Health Services
  • Endowments (6%)*
    • donated funds that must be held in perpetuity
    • only the annual income earned is available for spending
  • Scholarships (2%)*
    • donated or endowment generated funds that are restricted for student aid
  • Plant & Capital Projects (9%)*
    • funds expended on fixed assets (e.g. equipment, buildings) and major renovations/repairs
  • Special Purpose (26%)*
    • donated or University designated funds for specific endeavors, other than those noted above (e.g. lecture series, faculty Chairs)

*In FAST, you use the ‘%’ symbol as a wild character to search FUNDS.

Where do I find more information?