Cost Objects: University

This cost object is used to facilitate the management of cash and temporary securities for all funds. It operates as a "mutual fund" in which the individual participating funds share their prorated equity contribution. 

Most Current Unrestricted assets, liabilities, and fund equity are recorded in fund 1001000. No revenue or expense is ever recorded in this fund.

These profit centers include all tuition and fees charged to students for educational and general purposes, net of cancellations. Remissions or exemptions of tuition and fees should not reduce tuition and fees revenue. Such remissions or exemptions should be recorded as expenditures under the category Student Aid, (168xxxx).

These profit centers include unrestricted income distributed from Endowment Funds.

These profit centers include all unrestricted gifts received during the current fiscal year.

These profit centers include funds received as a recovery of indirect costs accruing from sponsored research and other sponsored programs.

These profit centers represent all revenue earned by programs and activities, which support the educational departments.

These profit centers include all revenue earned through investment of Current Unrestricted Funds.

These represent each School’s share of unassigned income (The Duke Endowment, Unrestricted Quasi Endowment and Investment Income). These codes are for Budget Office use only.

These profit centers include all revenue received for educational and general purposes not reported elsewhere.

These profit centers include all revenue earned by the University's Auxiliary Enterprises. An auxiliary enterprise is a self-supporting activity primarily serving students, faculty, and staff by providing goods and services for a fee or sales price related to the cost of goods and services. The majority of the revenue comes from sources outside the University not from University departments. Examples of auxiliary revenue include charges for room, board, revenue earned from intercollegiate athletic programs, and revenue from Duke University Press operations.

These cost centers include all expenditures of the departments, colleges, schools and other instructional divisions of the University. This category includes compensation for deans (to the extent their work is academic-oriented), faculty members, secretaries, technicians, laboratory and other assistants; office expenses; laboratory and other instructional expenses; expenditures for capital equipment; other operating expenses; and research expenditures not separately budgeted or financed.

These cost centers include the gross expenditures of programs and activities, which support the educational departments but are not full-fledged departments.

These cost centers include all budgeted expenditures for research.

Note: This category does not include departmental research (research not separately budgeted or financed); these expenditures should be included under Instruction and Departmental Research (151xxxx).

These cost centers include all expenditures for libraries, both general and departmental. Such expenditures include those for salaries, wages, books, subscriptions, binding costs and other operating expenses.

These cost centers include all expenditures for services to students. This category includes the registrar's office, admissions office, offices of the deans of students, guidance and testing programs, health service, financial aid office and all University subsidies to student activities.

These cost centers include all expenses for salaries and wages, supplies, materials, equipment, and other similar expenses for the operating and maintenance of the University physical plant. Expenditures of this nature, which are incurred on behalf of the Auxiliary Enterprises, are deducted from this category by means of an expense credit or cost accounting distribution and reported under expenditures of these organizations.

These cost centers include all expenditures of the general executive and administrative offices serving the entire University. Expenditures of this nature, which are incurred on behalf of the Auxiliary Enterprises, are deducted from this category by means of an expense credit or cost accounting distribution and reported under expenditures of these organizations.

These cost centers represent expenditures for student aid, including tuition remissions other than those made under the University's tuition grant program (which are included in Fringe Benefits). It should also be noted that financial assistance granted to students contingent upon their performing a service does not constitute Student Aid, but should be reported under Instruction and Departmental Research (151xxxx) using the appropriate payroll G/L Account (i.e., series 60xxxx).

These cost centers represent all expenditures of the University's Auxiliary Enterprises. An auxiliary enterprise is a self-supporting activity primarily serving students, faculty, and staff by providing goods and services for a fee or sales price related to the cost of goods and services.

These cost centers have been established to record all appropriations and transfers from the Current Unrestricted Fund to other fund groups. Transactions recorded in these funds do not represent revenue or expenditures but rather (1) an assignment by the Board of Trustees of a portion of the unrestricted revenue of the Current Unrestricted Fund or (2) the reallocation or reclassification of revenue or accumulated surplus from one fund to another fund.

This includes contracts and grants awarded by the National Institutes of Health, the Alcohol, Drug Abuse, and Mental Health Administration, and other divisions of the Department of Health & Human Services.

This includes contracts and grants awarded by the Army, Navy and Air Force.

Sponsored projects issued by the Department of Energy.

Sponsored projects issued by the National Science Foundation.

For sponsored projects funded by other agencies such as:

• National Aeronautics and Space Administration
• Office of Education
• U.S. Departments of Agriculture, Interior, and Labor
• National Endowment for the Humanities
• Environmental Protection Agency
• Veterans Administration

This includes awards made by states, counties, municipalities, public universities, and agencies of other countries.

This includes awards made by the Duke Endowment.

This includes awards made by foundations, private universities, industry, individuals or other non-governmental organizations that meet at least one of the following criteria:

• Financial reporting is required.  Financial reporting includes:
  •  An accounting (as documented on an invoice or financial report) of how funds were spent, i.e., either a summary or details of expenses; or
  • A restriction on how the funds are expended;
    • It DOES NOT include a simple reconciliation of funds due from the sponsor versus payments received from the sponsor.
• Agreement includes the flow-through of federal or other governmental funds OR the inclusion of federally based award terms/conditions, such as agency specific federal language/references or citing the Uniform Guidance (i.e., 2 CFR Part 200).
• Sponsor requires the return of unspent funds, as this implies the sponsor requires a final accounting of expenses. 
• Non-industry sponsor, invoicing is required, and none of the above criteria apply.

Please note, 28x & 38x WBS elements will be invoiced centrally by Office of Sponsored Programs and/or Treasury Billing Services.

This includes awards made by foundations, industry, individuals or other non-governmental, organizations which do not require periodic financial reports on the activities of the funds or meet any of the other criteria listed for 28x & 38x WBS elements. Please note, invoicing for 29x & 39x WBS elements is the responsibility of the department that received the award.

This includes those funds whose primary purpose is the support of instruction, departmental research and/or professorships. Instruction includes those activities offered through regular academic departments or separate divisions, such as summer school, whether they are offered for credit towards a degree or on a non-credit basis. Instruction, course and curriculum development, academic advising and scholarly activities such as preparing papers, delivering papers, attending seminars and professional society meetings are also included. Pursuing one's own professional interest through research, writing, etc. is known as departmental research and is included. Departmental research is not separately budgeted or accounted for. Also included in this category are funds that have been designated for endowed professorships.

This includes those funds whose primary purpose is the support of training activities. Training activities can be defined as the cost of teaching students or employees the professional skills necessary to engage in research or in the techniques and practices pertinent to the delivery of specific services in a particular area of concern. Training projects are those designed to produce skilled manpower in specific fields, disciplines or specialties.

This includes those funds whose primary purpose is the support of sponsored research, including clinical trials. Sponsored research includes all research and development activities of the University that are separately budgeted, accounted for, and organized with definite research objectives.

This includes those funds whose primary purpose is the support of various library activities.

This includes those funds whose primary purpose is the support of components rendering services to students.

This includes those funds whose primary purpose is the support of the general administration and operations of the University.  This includes construction/renovation grants and equipment grants.

This includes those funds whose primary purpose is the granting of aid to students in such forms as scholarships, fellowships, grants-in-aid, stipends, etc.

This includes those funds whose primary purpose is (1) the support of other programs which are not more appropriately included in one of the categories outlined above or (2) which are multipurpose funds not having a predominate purpose. Indiscriminate use of this series of cost objects is discouraged; this series should be used only when it is clearly inappropriate to establish a WBS element in one of the preceding categories.

This includes those funds whose primary purpose is the support of general administration not clearly identified with a specific program. Also, these funds include the Private Diagnostic Clinic's (PDC) appropriations that will be distributed and transferred to other programs.

This includes those funds whose primary purpose is the support the teaching of medical students that are not covered by institutional budget allocation.

This includes those funds whose primary purpose is the support teaching and supervision of house staff not covered by institutional sources.

This includes those funds whose primary purpose is the support of educational activities of the department not identified at UME or GME. Examples consist of medical education functions and expenses related to Fellows.

This includes those funds whose primary purpose is the support of instruction and unbudgeted departmental research, as well as capital expenditures.

This includes those funds whose primary purpose is for research activities, which there are no outside support or other external support. Included are departmental startup funds for new faculty, as well as general department research expenses.

This includes those funds whose primary purpose is the support of instruction and research activities. Included are departmental startup funds for new faculty, as well as general department research expenses.

This includes those programs and activities supporting the Educational Departments.

This includes those funds whose primary purpose is the support of separately budgeted or sponsored research.

This includes those funds whose primary purpose is the support of various library activities.

This includes those funds whose primary purpose is the support of components render service to students.

This includes those funds whose primary purpose is the support of physical plant operations and maintenance.

This includes those funds whose primary purpose is the support of the University's general administration.

This includes those funds whose primary purpose is the support of miscellaneous programs not outlined above or multi-purpose funds not having a predominate purpose.

This includes those funds whose primary purpose is for the support of clinical activities of the department.

This includes those funds whose primary purpose is the granting of aid to students.

This includes those funds whose primary purpose is the support of the operations of the auxiliary enterprises.

This includes funds for temporary loans to students, which are managed by the Department rather than the Office of Student Loans.

This includes those funds created from appropriations by governmental agencies and to be used in accordance with their regulations.

This includes those funds established by either foundations, business enterprises, individuals or other non-governmental organizations without any provision that the funds be refundable to the donor.

This includes those funds established by foundations, business enterprises, individuals or other non-governmental organizations with provision that should certain specified conditions occur the fund would be refundable to the donor.

This includes those funds established by action of the governing board of Duke University.

These are endowments in which the donor has stipulated as a condition of their gift, that the fund's principal be maintained inviolate and in perpetuity, but that all or part of the income derived from investment of the fund's principal may be expended.

Includes all insurance policies held as investments. The University is the designated insurance owner and beneficiary. The donors make gifts of cash or marketable securities to the University to pay the insurance premiums.

This includes all permanently restricted insurance policies. Once the insurance contract terminates, the remainder will be used to fund a perpetual endowment.

This includes all temporarily restricted insurance policies. Once the insurance contract terminates, the remainder can be used at the department’s discretion.

These are endowments in which a donor or other outside agency has stipulated that the fund's principal is to be maintained inviolate until the happening of a particular event or the passage of a stated period of time; after which all or part of the principal may be expended. When the restrictive conditions have been met, and upon appropriate action of the Board of Trustees, such funds should be reclassified to the appropriate fund group depending upon the new use(s) to which the funds are to be applied.

These are funds established by the Board of Trustees as endowments. While quasi-endowments are established for the same purposes as permanent endowments, any portion may be expended at the discretion of the Board.

These are funds acquired by the University subject to an annuity contract in which the University has contracted to pay a stated sum to the beneficiary until the termination of the annuity agreement. After the annuity agreement terminates the remaining funds will be transferred to the appropriate fund depending upon the new use(s) to which the remainder is to be applied.

687xxxx - Temporarily Restricted Gift Annuity Funds

The gift annuity should be set up as a 687xxxx when the gift is only temporarily restricted. Once the agreement terminates, the remainder can be used at the department’s discretion.

689xxxx - Perpetual Endowments Funded by Gift Annuity Funds

The gift annuity should be set up as a 689xxxx when the gift is permanently restricted. Once the agreement terminates, the remainder will be used to fund a perpetual endowment.

Life Income Funds are funds acquired by the University subject to a living trust agreement or gifts and bequests reserving the income of the fund to the life of one or more beneficiaries. After the agreement terminates, the remainder of such funds will be transferred to the appropriate fund depending upon the new use(s) to which the funds the remainder is to be applied.

697xxxx - Temporarily Restricted Life Income Funds

The life income fund should be set up as a 697xxxx when the funds are only temporarily restricted. Once the agreement terminates, the remainder can be used at the department’s discretion.

699xxxx - Perpetual Endowments Funded by Life Income Funds

The life income fund should be set up as a 699xxxx when the funds are permanently restricted. Once the agreement terminates, the remainder will be used to fund a perpetual endowment.

This includes those funds whose primary purpose is the support of and additions to Loans funds available for students of the University.

This includes those funds whose primary purpose is the support of instruction, unbudgeted departmental research and/or professorships.

This includes those funds whose primary purpose is the support of training programs or organized activities relating to educational departments.

This includes those funds whose primary purpose is the support of sponsored or separately budgeted research.

This includes those funds whose primary purpose is the support of various library activities.

This includes those funds whose primary purpose is the support of components rendering services to students.

This includes those funds whose primary purpose is the support of the operation and maintenance of the physical plant.

This includes those funds whose primary purpose is the support of the general operation of the University.

This includes those funds having as their primary purpose aid to students in the form of scholarships and fellowships.

This includes those funds whose primary purpose is the support of miscellaneous programs not outlined above or multi-purpose funds not having a predominate purpose.

This includes all funds established for major construction projects ($100,000 or more). Funding is provided by appropriations of unrestricted revenue, gifts, indebtedness assumed by the University or the transfer of reserves from a 74xxxxx WBS element. Detailed Capital Construction Projects Guidelines are in place in order to properly manage and report on all major construction projects.

• 710xxxx: Office of Information Technology - Electronic Equipment
• 711xxxx: Office of Information Technology - Intra-Building Wiring Projects
• 721xxxx: Medical Center Projects
• 722xxxx: University Projects (excluding Medical Center)
• 723xxxx: Infrastructure Projects, includes those funds established by special funding from interest earned on money invested in the Cash Pool.

This includes those funds established to purchase new equipment or accumulated to fund major construction or renovation projects. Funding is provided by transfers from Current Unrestricted Funds (except the 740 series, which is funded by proceeds of insurance claims, recovered as a result of the loss of physical properties). The third digit of these funds represents the primary purpose of the expenditure and relates the Education & General Expense funds (15xxxxx).

• 740xxxx: Insurance Claims and Other Accounts, includes funds established to replace or repair damaged equipment or buildings where the costs are covered by insurance.
• 741xxxx: Instruction
• 742xxxx: Organized Activities
• 744xxxx: Libraries
• 745xxxx: Student Services
• 746xxxx: Plant Operations and Maintenance
• 747xxxx: General Administration
• 749xxxx: Auxiliary Enterprises

This includes those funds established for major maintenance, ADA, and Duke Utility Company projects. Funding is provided by internal appropriation.

• 752xxxx: Deferred Maintenance on University Buildings (excluding Medical Center and Dormitories), Roads, and Utilities
• 753xxxx: Americans with Disability Act
• 754xxxx: Duke Utility Company
• 755xxxx: Renewal of Campus Utility Systems
• 756xxxx: Medical Center Buildings
• 759xxxx: Auxiliary Enterprises - Dormitories

This includes those funds established to retire outside debt by transfers of funds from other fund groups.

• 769xxxx: University

This includes those funds established to record the capitalized investment of physical properties of the University.

This includes those funds belonging to Duke University Management Company, which is responsible for investing Duke's endowment funds and available money in other funds.

This includes those funds belonging to student organizations or activities.

This includes those funds belonging to the Private Diagnostic Clinics.

This includes those funds belonging to agencies or activities other than those listed above.

The third digit only has meaning in the Student Activities series, except as outlined below:

• 811xxxx: DSG Recognized Organizations
• 812xxxx: Non-DSG Student Activities
• 813xxxx: Graduate School and Other Organizations
• 814xxxx: Student Union Organization
• 817xxxx: Residential Living Units and Non-Residential Greek Organizations
• 819xxxx: Student Operating Accounts
• 855xxxx: Duke Clinical Research Institute Pharmacy

This includes those funds established for the management of the pooled investments for the pooled Long Term Investments of the University. Separate cost objects are established to record the activity of the various investment managers.

This includes those funds designated for management of available cash through the pooling of funds in intermediate term investments. Separate cost objects are established to record the activity of the various investment managers.

This includes those funds designated for management of available cash through the pooling of funds in short term investments. Separate cost objects are established to record the activity of the various investment managers.

This includes those funds set aside to fund the non- faculty/staff retirement plan. Separate cost objects are established to reflect the activity of the various investment managers.

This reflects those funds managed as a separate group usually as a result of agreements established at the time the gift is made. These are an exception and should be held to an absolute minimum.