Index and Glossary – G
- General Accounting
- General Journal Entry
- General Stores
- Gifts, Retirement, Incentive
- Government Property
- Granting Financial Authority (GFA)
- Grants & Contracts
- Guest Lecturer/Performer Agreement
Discussion: A Wage garnishment, the most common type of garnishment, is the process of deducting money from an employee’s monetary wages as a result of a court order or voluntary agreement between employee and creditor. The University processes the garnishments in accordance with federal law. There are several common garnishments being served in the University.
- Child Support
- Education Assistance
- Voluntary Wage Assignment
- Tax Levy
- Court Judgment
Discussion: The General Accounting department, as preparer of the University’s audited Annual Financial Report, coordinates all financial transactions posted to the University’s general ledger. General journal entries are processed by General Accounting while certain other financial transactions, such as accounts payable, Campus Orders, Purchase Requisitions, Deposits, Travel, grants and contracts, etc., are processed by other departments with Financial & Business Services.
In addition to being an accounting resource for all campus departments, General Accounting’s responsibilities also include producing the monthly Management Reports, reconciling university bank accounts, accounting for all university endowments and long-term debt, preparing the Utah State Sales Tax Return, other government related and ad hoc financial reports, and providing accounting services for the University of Utah Research Foundation.
General Journal Entry (JE):
Discussion: The form used by campus departments to request a journal entry, to initiate the transfer of dollars from one chart field value to another. Paper journal entries are generally used to make accounting corrections, or to facilitate infrequent transfers. Once properly completed, the journal entry form is submitted to Genera Accounting for data entry and processing.
Discussion: General Stores is an on campus supply store for most commonly used items with next-day delivery from outside suppliers for most special ordered items.
Gifts, Retirement, Incentives:
Discussion: Property owned or furnished by the federal government or acquired by the university with federal funds under the terms of a contract or grant for which the federal government retains title.
Discussion: (Government Records Access Management Act) The statute that allows the public to obtain copies of government records.
Granting Financial Authority (GFA):
Discussion: Granting Financial Authority is the system to manage signature authority for various financial processes.
Account Executives have ultimate responsibility for financial transactions, but may use GFA to designate alternates.
Grants & Contracts:
Discussion: A term used to refer to all extramural funds received by the university through a formal grant or contract.