DEFINITIONS OF FINANCIAL TERMS
We have put together what we hope to be a helpful list of terms and definitions related to RCM, budgeting
and accounting. There are many terms and acronyms floating around and we wanted to provide some clarity for
those of you who are not familiar with them.
- Auxiliary - these operations are revenue generating support operations of the University. These operations are fully responsible for revenues and expenses. Major auxiliary operations of the University are: Housing, Dining Services, New England Center, MUB, Campus Recreation, Health Services, Athletics and the Whittemore Center.
- CUFS - College and University Financial System - this is the financial accounting software that the University used up until mid-way in FY02. It has been replaced by Banner Finance.
- Current Funds - Funds used to support the current operations of the University. Current Funds at UNH are Educational and General, Internally Designated, Auxiliary Funds, Restricted Gifts and Grants/Contracts.
- E&G - Educational and General funds otherwise known as "Fund 1000". These are the general operational funds of the University. Examples of E&G revenues are tuition, indirect cost recovery and state appropriation revenue.
- Indirect Cost Recovery (sometimes referred to as IDC or ICR) - The University receives reimbursement from external granting agencies to cover administrative and overhead costs associated with performing research.
- Internally Designated Funds - unrestricted funds designated for a specific purpose or program. Examples of these funds are study-away programs, research support funds, and student activity fee organization funds.
- Net Tuition - Tuition less financial aid costs. RCM allocates net tuition to units via formula.
- NSF (Net Square Foot) - A square foot of space used to calculate the Facilities Services allocation rates is determined by the UNH space management system. Common areas such as halls, bathrooms, and attics are excluded from these calculations. This is the basis for allocation of Facilities Services expenses to units.
- PAU (Primary Appropriation Unit) - These are units designated by the State of New Hampshire to be funded entirely from State Appropriation Revenue. These units are: UNH-Manchester, NHPTV, Agricultural Experiment Station, Cooperative Extension, Marine Program, NH Industrial Research Center.
- PI (Principal Investigator) - the lead person on a grant or contract. This person is ultimately responsible for the grant funds awarded.
- Restricted Funds - these are revenue sources that are restricted in their use by an external party. Restricted Gifts, Endowments and Federal/State Grants and Contracts are examples of Restricted Funds.
- State Appropriations - The State of New Hampshire grants the University (through the University System) a certain amount of revenue as part of its budget. Budgeted Fiscal Year 2000 revenues from the State are approximately $50 million.
- University Fund - a fund derived from State Appropriation revenue used in RCM to 1) balance RC units for variances in their budget position as a result of the transition to RCM and 2) provide one-time allocations from the Central Budget Committee funded from growth in the balancing component of the University Fund.
- Unrestricted Funds - These funds are not restricted as to their use by an external party and are subject to internal management decisions as to their use.
