Index and Glossary – F
- Financial Information Library
- Business Analysis & Support Services
- First Class Airfare
- Fly America Act
- Fringe Benefit Rate
- Fund (Chartfield Element)
- Fund Accounting
Financial Information Library:
Discussion: The Financial Information Library, or FIL (Phil) is a web application on the FS pagelet of CIS. The Library contains a variety of financial data extracts (queries) users can run and download to Excel for easier analysis. The Library is a shared application that also contains Human Resources data extracts, called the Human Resources Information Library (HRIL), and therefore is also referred to as the Financial & Human Resources Information Library (FIL/HRIL). Following are the Folders in the Library that contain Financial Queries:
- Activity Repts
- Claim on Cash
- Curr Employees
- Endowment Repts
- Payroll Repts
Business Analysis & Support Services:
Discussion: Business Analysis & Support Services provides technical Support for the University of Utah’s financial applications. Department personnel support PeopleSoft applications, hardware and software solutions. Business Analysis & Support Services also facilitates discussion as part of the Business Process Advisory Group, or BPAG.
First Class Airfare:
Discussion: An aircraft is typically split into two areas of seating. First Class seating includes wider seats, more leg room, special boarding schedules and other improved service benefits. When our travelers fly for business purposes, however, it is typically most appropriate to book Coach class tickets and to avoid booking First Class or Business Class. Travel Planners must also avoid booking immediately upgradable classes of service.
We do allow our travelers to use their status to upgrade seating where the cost of the ticket is not impacted by the upgrade.
There are also circumstances where it may be appropriate to book First Class or Business Class tickets when flying internationally, or when health concerns make First Class necessary.
An Administrative Rule has been published to outline these circumstances where exceptions are granted.
University Travelers may have to reimburse the University when airfare is booked incorrectly and outside of this Rule.
NOTE: Both University and travel industry Rules governing airfare are fairly complicated. We recommend that departments us our OnSite Agents to best make appropriate business decisions.
Fly America Act:
Discussion: The Fly America Act is a law requiring the University to use domestically owned airline companies when booking airfare purchased as part of a federally funded grant. In other words, if your department is traveling as part of a federally funded research grant, (fund 5000) you must book airfare from U.S. owned airlines, such as Delta, American, United and Continental.
There are instances where this law requires us to book a higher priced ticket than that we could obtain directly from a foreign airline carrier, but nonetheless, we must comply.
If a traveler does not follow the requirements of the Fly America Act, he/she may not be reimbursed for the cost of the airfare purchased.
We recommend in instances where our researchers are flying internationally, the airfare be booked using our OnSite Agents, to be sure that the flight is in compliance with the Fly America Act.
Fringe Benefit Rate:
Discussion: When charging and billing fringe benefits expenses to sponsored awards, the University charges the actual fringe benefit costs incurred.
When budgeting for fringe benefit costs for sponsored award proposals, refer to OSP’s website for the estimated fringe benefit rates to use for thus purpose. These fringe benefit rates are for estimating purposes only and do not have any bearing on the final fringe benefits costs that are charged to the University’s sponsored awards.
Fund (Chartfield Element):
Discussion: The Fund identifies the source of funds. Fund is the third element listed in the string of Chartfields, and is 4 numeric characters long in BU 01 and 2 numeric characters long in BU 04. Separate funds are established to ensure observance of limitations and restrictions placed on the use of resources. Example of fund values in BU 01 are:
- 1001 – General Fund (State Appropriations)
- 2xxx – Designated Funds (sales & Service of academic departments or service units)
- 4xxx – Auxiliary Enterprises (entities servicing students and student life)
- 5xxx – Contracts and Grants
- 6000 – Gifts
Discussion: Fund Accounting is a financial record keeping convention generally used by public entities like the Federal Government, state municipalities, and institutions of higher education. Funds are determined by source, and should be spent from where the funds reside.