Terms & Definitions

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Appropriation and Transfers
Represents 1) an assignment by the Board of Trustees of a portion of the unrestricted revenue of the Current Unrestricted Fund or 2) the reallocation/reclassification of revenue or accumulated surplus from one fund to another.
Enterprises that function in a subsidiary capacity providing services, materials or facilities to University and non-University elements. Generally speaking, they cover their own expenses. Examples are DUAA, DUFS, Golf Course, Press, etc.
BFR (Budget and Financial Reporting) Code
Departmental position code within the company code structure.
Also referred to as "Organizational (Org.) Code".

The BFR code is a series of ten digit codes within the General Ledger that provides a five level organizational hierarchy structure. Every position and cost object at Duke will be linked to a BFR code at some level in the hierarchy.
Budget Incentive Agreement/Formula
Series of agreements established by the Provost's Office, Medical Center, or President in conjunction with the Executive Vice President, whereby a school/organization will share any surplus to budget, consequently the school will also be held accountable for any deficit to budget.
Budget Process
1. Prepare forecast to test assumptions and establish tuition and enrollments.
2. Give departments an opportunity to request funds and set rates according to department's operational requirements.
3. Give Senior Officer's the flexibility to evaluate requests and shift resources according to priorities established by each sector.
4. Consolidate the Budget. If bottom line problem exists, turn back over to Senior Officer for resolution.
5. Present balanced budget to the Board of Trustees for approval.
Company Code
A company code is a four-digit code corresponding to an independent accounting or business unit within Duke. The company code is a division that maintains the accounting balances separately (separate set of books) and creates the legally required Balance Sheet and Profit & Loss Statement.
Cost Center
Previously referred to as "Fund Code", the Cost Center defines the owner of costs or general operating expenses. Cost centers are organized by areas of responsibility. The Cost Centers are briefly outlined by Company Code as follows:

* In Company Code 0010 have seven-digit cost centers beginning with 15x, 168, 180, 190, 4xx, 5xx, 6xx, 8xx, and 9xx (such as example 157-3124). Some of DCRI's Cost Centers contain additional digits.

* Company Codes 0020, 0030, 0040, 0050 and 0060, have nine-digit Cost Centers (such as example 306060025).
Amounts that are calculated to record the decline in value of the operating funds. Duke records depreciation for capital assets, equipment, and buildings.
Direct Codes
Costs directly attributable to a specific project or activity. Examples are salaries & wages, supplies, equipment, personnel benefits, etc.
Disposal of Property
Relinquishment of the title of property: includes the sale, cannibalization, or disassembly of the property.
Distributed Expenses
The process by which the costs incurred by components of the University (while providing a service) are charged to the components receiving the benefit.
Expense Cost Center
Cost Centers in the 15xxxxx thru 180xxxx series.
Facilities and Administrative (F&A) Costs
The Government's Definition of F&A costs are costs that are incurred for common or joint objectives and, therefore, cannot be identified readily and specifically with a particular sponsored project, an instructional activity, or any other institutional activity. Examples include: salaries, wages and fringe benefits for clerical and administrative positions not allowable as direct costs, memberships, subscriptions, library books, periodicals, office supplies, equipment, janitorial services, photocopying charges (for general business use), postage, repair & maintenance, sanitation services, local telephone service, utilities.
Financial Full-Time Equivalent (FFTE)
A FFTE is the revenue dollars divided by a particular school's/organized activities tuition/fees. Depending on the number of part-time students, this number may be quite different from a "head-count". This equivalent is calculated by the Budget Office to monitor variances and utilized by the Cost Allocation & Analysis department to distribute expenses.
Fiscal Year
The fiscal year begins July 1 and ends June 30. The fiscal year is divided into four quarters, each with three fiscal months. The first month of each quarter contains five weeks; the remaining two months each contain four weeks. Fiscal months begin on a Monday and end on a Sunday at midnight. The fiscal months of June and July will often deviate from this because the fiscal year always begins on July 1 and ends on June 30.
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