THE UNIVERSITY OF NORTH CAROLINA AT CHARLOTTE

 

 

CHART OF ACCOUNTS

 

Account Structure

 

Financial Records System (FRS) account numbers are essential to processing purchase requisitions / orders, check requests, deposits, budget revisions, and other financial transactions. 

 

FRS accounts are either general ledger or subsidiary ledger accounts.  General ledger accounts are primarily assets, liabilities, and fund balances.  Subsidiary ledger accounts are revenues and expenditures.

 

An FRS account number is comprised of ten numerical digits with two components:

 

Account (Digits 1-6)	Object Code (Digits 7-10)
X-XXXXX	XXXX

 

Account:  X – XXXXX – xxxx

 

Digits 1 through 6 of the FRS account number identify a university account.  A university account is a unique fund created to record financial transactions for a specific department or activity.  

 

Account #	Description
0-00000 – 0-99999	General Ledger (assets, liabilities, fund balance)
1-00000 – 1-99999	General Fund  (state appropriations)
2-00000 – 2-99999	Institutional Trust Funds (overhead, discretionary, etc.)
3-00000 – 3-99999	Auxiliary/Receipt Supported Funds
5-00000 – 5-99999	Contracts and Grants Funds
6-00000 – 6-99999	Other Restricted Funds
7-00000 – 7-99999	Endowment (0-78000 – 0-79999) and Loan (0-70000 – 0-72999) Funds
8-00000 – 8-99999	Plant Funds (Capital Improvements, Debt Service)
9-00000 – 9-99999	Agency Funds

 

Object Code:  x – xxxxx – XXXX

 

Digits 7 through 10 of the FRS account number identify the object code.  The object code is a unique code created to distinguish the type of expenditure (revenues, supplies, services, equipment, etc.).

 

            Major Object Codes for Subsidiary Ledger Accounts:

 

            0xxx Revenues

·        Includes revenues realized by the University.  Note that refund of expenditures should be credited to original expenditure accounts.

 

1xxx Personnel Related Expenditures

·        Includes salary and fringe benefit related expenditures. Payments made to independent contractors (non-University employees) must be charged to 19xx.

 

2xxx Supplies and Materials Expenditures

·        Includes payments for purchases of supplies and materials.  It includes all items used for current operating purposes.  Purchases of tangible items capitalized in the fixed asset system are not included.  Expenditures should be charged to the appropriate minor object code
(OBJECT CODE LINK).

 

3xxx Current Services Expenditures

·        Includes payments for services that assist in the performance of institutional programs and in the operation, repair, and maintenance of institutional resources.  Expenditures should be charged to the appropriate minor object code (OBJECT CODE LINK).

 

33xx Utilities Expenditures

·        Includes payments for utility services (electric, water, natural gas, etc.).  Telephone services should be charged to 32xx.

 

4xxx Fixed Charges Expenditures

·        Includes payments for operating costs that are typically for a fixed sum and are usually recurring.   Expenditures should be charged to the appropriate minor object code (OBJECT CODE LINK).

 

5xxx Capital Outlay Expenditures

·        Includes payments for acquiring legal ownership of equipment (including freight and installation). For purposes of this definition, equipment is not consumable or expendable, is movable, has an expected useful life of longer than one year, and costs more than $50. All expenditures for tangible and intangible properties greater than or equal to $500 are entered in the inventory of fixed assets and are subject to fixed asset controls. Expenditures should be charged to the appropriate minor object code (OBJECT CODE LINK).

 

6xxx Aids and Grants Expenditures

·        Includes payments of financial aid to various authorized recipients.

 

8xxx Transfer and Reserves

·        Includes monetary transfers of funds.  Does not include payments for services rendered.  Offset accounts must use 08xx as transfers-in of funds.

 

Minor Object Codes for Subsidiary Ledger Accounts

 

            Minor object codes provide detailed classification of expenditures made within major object codes.  All expenditures must be made at the minor object code level.  No expenditures should be charged to the major object codes. 

 

            For help in determining appropriate object codes, please see the detailed written descriptions provided in Parts II and III of the University of North Carolina Chart of Accounts website:  http://www.ga.unc.edu/UNCGA/finance/COA/COA.pdf.