Chart of Accounts

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Accounts to Distinguish In-kind Gift Revenue From Other Gift Revenue

The U of O has requested the ability to separately track in-kind gift revenue from other gift revenue within the accounting records. This will streamline tracking, reporting and facilitate post audits of gifts in kind received by the university. The CO concurs that there would be advantages in being able to do so.

In order to allow new reporting functionality and not break existing functionality requires breaking the existing gift revenue accounts into their component units (i.e. in-kind vs cash) and establishing appropriate rollup structures. After some consideration, the following proposal was derived and is being presented for review and approval.

The intended effective date of implementation would be July 1, 2006 however institutions would have the option of implementing during FY ’06 if desired. Early implementers would have the further discretion whether or not to reclass current year ‘06 activity. (Early implementers will need to coordinate their intentions with the Controller’s Divisions so proper chart maintenance can be performed.) Proposal and approval deadline to be discussed/determined at the December 6th, 2005 Business Officer’s Meeting.

The proposal is to make the existing data entry codes (03610, 03620, 03630, 03640 & 03650) non-data entry and add two new codes under each differentiating in-kind vs cash gift revenue.

03600  Gifts                             
   03610  Private Individuals Gift          
      03611  Private Individuals Gift    
      03612  Private Individuals In-Kind Gift    
   03620  Commercial Business Gift          
      03621  Commercial Business Gift   
      03622  Commercial Business In-Kind Gift   
   03630  Foundations Assoc & Societies Gift
      03631  Foundations Assoc & Societies Gift
      03632  Foundations Assc & Soc In-Kind Gift
   03640  Non-OUS Inst of High Ed Gift      
      03641  Non-OUS Inst of High Ed Gift      
      03642  Non-OUS Inst of High Ed InKind Gift      
   03650  Campus Affiliated Foundation Gift     
      03651  Campus Affiliated Foundation Gift 
      03652  Campus Affil Foundation InKind Gift

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Last Updated: 12/01/05