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Maricopa Community Colleges >> Business Services Division >> Chart of Accounts Info
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Fund Codes:

By AICPA/NACUBO definition, a fund is a fiscal and accounting entity with a self-balancing set of accounts that records financial resources together with related liabilities and residual equities or balances. These are segregated for the purpose of carrying out specific activities or attaining certain objectives in accordance with special regulations, restrictions, and/or limitations.

Fund
Description
General Operating Fund - Parent Value (includes Fund 110)
110 General Operating Fund
Auxiliary Enterprises Fund - Parent Value (includes Funds: 210, 230, 250, 270, 280, 290)
210 College Activities, Student Activities & Athletics
230 Other Auxiliary Programs
250 Course Fees
270 Food Service
280 Non-Credit Programs
290 Student System Clearing
Restricted Funds - Parent Value (includes Fund: 310, 315, 320, 330, 340, 350, 360, 370, 380)
310 Private Grants
315 Local Government Grants & Contracts
320 State Government Awards
330 Federal Direct Grants
340 Federal Pass Thru Grants
350 US Department of Education (Ed Payments)
360 Federal Stafford Loans
370 Other Restricted
380 Scholarships
Loan Fund - Parent Value (includes Funds: 510, 520)
510 Short-term loans (MCCCD funded)
520 Federal Loan Activity (Perkins and Nursing Student Loans)
Endowment Funds - Parent Value (includes Funds: 610, 620)
610 Endowment Funds
620 Quasi-endowment Funds (MCCCD-Board designated; includes Workers Comp. & other)
Unexpended Plant Fund - Parent Value (includes Funds: 710, 730, 740, & 750)
710 State Aid: Unexpended Plant
730 G. O. Bonds: Unexpended Plant
740 Revenue Bonds: Unexpended Plant
750 C. O. P. S.: Unexpended Plant
Retirement of Indebtedness Fund - Parent Value (includes Funds: 810, 820)
810 Debt Service: G. O. Bonds (District Office use only)
820 Debt Service: Revenue Bonds (District Office use only)
860 Investment in Plant Fund (District Office use only)
Agency Funds - Parent Value (includes Funds: 910, 920, 950)
910 Club Accounts
920 Workshops/Conferences/Trips
950 Payroll & Benefit Clearing (District Office use only)

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Value
Description
110

The General Operating Fund accounts for all unrestricted current financial resources not required to be accounted for in other Current Funds. The General Fund is the primary operating fund for MCCCD. Sources of Funds: Revenues include Property Taxes, State Aid, Tuition and Fees, and other sources. Uses of Funds: Funds are used for educational and general expenditures related to Instruction, Academic Support, Institutional Support (includes Administration and General Institutional expenses), Student Services, Operation and Maintenance of Plant, and Public Service.

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210

The fund accounts for certain transactions related to the various programs of general athletics and college activities. Sources of funds: The source of funds for Fund 210 is the established amount of activity fee charged per credit hour as part of the basic tuition and fee rate, a portion of tuition, as well as transfers from fund 1. Uses of funds: Funds are used for expenses of the auxiliary enterprises activities including athletic programs and scholarships.

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230

The fund accounts for transactions related to other auxiliary programs and activities including bookstore and rentals. Sources of funds: Investment income, bookstore commissions, Skill center tuition and fees, General Fudn transfers and facility rentals. Uses of funds: Institutionally funded scholarships including Honors Program and the Chancellor's scholarship program, rental costs, faculty training (Lodestar), campus security training, Skill Center operations, revenue bond repayment costs, contract training and other miscellaneous activities expense.

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250

The fund accounts for transactions related to special assessed fees. Sources of funds: Additional fees assessed by individual departments at the colleges. Uses of funds: Cost of materials for those credit courses which rely on special equipment or supplemental materials.

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270

The fund accounts for transactions related to the campus based food service facilities. Sources of funds: Sales revenues from Scottsdale Community College's cafeteria and commission revenue received from the contracted food service provider (this is applicable for all other units, but accounts for only a minimal portion of the total revenues recorded as Food Service). Uses of funds: Costs associated with Scottsdale Community College's cafeteria service, minimal expenditures related to non-covered expenses of the contracted food service provider.

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280

The fund accounts for transactions related to the non-credit courses and programs offered by the District. Sources of funds: Direct fees charged for the courses. Uses of funds: All expenses and costs associated with the non-credit programs.

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290

The fund accounts for clearing account transactions related to the independent student information systems. This fund is used only as a clearing account and is associated with BRS/LMS/SIS reconciliations performed by the central District Office. Sources of funds: N/A - all transactions are generated from the BRS/LMS/SIS transaction feeds and the related FRS clearing transactions. Uses of funds: N/A - all transactions are generated from the BRS/LMS/SIS transaction feeds and the related FRS clearing transactions.

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310

This fund accounts for transactions related to training, general support and research activities funded from private gifts, grants and/or contracts. Programs activities can be broken down into four basic categories according to contribution source and purpose: Programs and activities supported by private contributions of individuals include those funded by private contributions for pubic services, including KJZZ and KBAQ. Training and educational programs provided by contributions from public corporations such as Motorola, General Motors and Ford. Supplemental support provided by contracts with external agencies for non-covered expenses of specific existing programs. Activities funded by private foundations such as the Kellogg and Helena Fund foundations. Sources of funds: Private gifts, grants, and contracts including donations, gifts, grants, and contracts from a private individual, corporation, agency, not-for-profit organization, or foundation. Investment income is earned on invested funds from some programs. Uses of funds: Functionally classified education and general expenditures incurred by the specific programs and activities, including indirect cost expenditures.

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315

This fund accounts for transactions related to programs and activities funded from direct local governmental grants and/or contracts. (The District currently has no programs or activities that are considered to be funded from direct local grants and therefore included within fund 315). Sources of funds: Direct local government grants and contracts revenues. Uses of funds: Functionally classified education and general expenditures incurred by the specific programs and activities, including indirect cost expenditures and any applicable refunds to grantors.

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320

This fund accounts for transactions related to programs and activities funded directly by state agencies through state government awards and grants. These grants come directly from various state agencies including the AZ Department of Education and AZ Department of Commerce. Direct State grants provide for programs in education and research, business and industry training and incentives, and general support. Sources of funds: State government grants and contracts revenues Uses of funds: Functionally classified education and general expenditures incurred by the specific programs and activities, including indirect cost expenditures and any applicable refunds to grantors.

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330

This fund accounts for transactions related to programs and activities funded directly by federal agencies through federal government awards and grants. These grants come directly from various federal agencies including the U.S. Department of Education, National Science Foundation, Small Business Administration, U.S. Department of Labor, etc. Direct Federal grants support a variety of programs used for training, general support and educational research. Sources of funds: Federal grant and award revenues. Uses of funds: Functionally classified education and general expenditures incurred by the specific programs and activities, including indirect cost expenditures and any applicable refunds to grantors.

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340

This fund accounts for transactions in programs that receive funds indirectly from federal agencies. Federal funds are allocated to specific state agencies that in turn fund various District programs. An example of a federal pass thru grant would be the funding from the U.S. Department of Education to the AZ Department of Education, and from the AZ Department of Education into a grant for the District Adult Education programs. NOTE: Direct federal and federal passed thru state must be separately identified for Single Audit purposes. A Schedule of Federal Financial Assistance must be generated which identifies expenditures during the fiscal year of any federal financial assistance received by Maricopa. The report includes amounts expended by CFDA# and description (for both direct and pass-thru awards) and pass-thru agency names, all by federal agency. Sources of funds: Federal pass thru grant revenues Uses of funds: Functionally classified education and general expenditures incurred by the specific programs and activities, including indirect cost expenditures and any applicable refunds to grantors.

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350

This fund accounts for transactions related to those programs that are funded by the U.S. Department of Education and are specifically accounted for through reports established and remitted to the Educational Payment Management System. These programs are primarily for financial aid and grants, such as Title IV financial aid programs, Pell Grants, FWS and SEOG. A small number of general operational and support grants are also accounted for through this method and therefore included within this fund. Sources of funds: U.S. Department of Education grants and awards. Uses of funds: Functionally classified education and general expenditures incurred by the specific programs and activities, including indirect cost expenditures.

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360

This fund accounts for transactions related to externally serviced federal student loans that are included in the defined Federal Family of Educational Loan Programs. Campus participation currently includes loans funded from both the Federal Stafford Loan Programs and the Federal Direct Loan programs. In both instances, the loans are applied to and processed by external lenders (Stafford programs) or a servicing agent of the federal government (Direct Federal Loan program). Approved loan proceeds are transferred by the source organization directly to the District. The District disburses the loans to the students while retaining any applicable tuition or fees due. The culmination of all transactions would eventually net to zero. Sources/Uses of funds: N/A - Receipts from the Federal Stafford Student Loan proceeds and the Direct Federal Student Loan proceeds are disbursed as received, either to students or returned to the source, and all transactions eventually clear. No revenue or expenditures are recognized.

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370

This fund accounts for transactions related to programs and activities in which the funding resources received are not externally restricted as to use, but are internally restricted as to use and purpose. These activities include designated student award and honors programs, and matching of specified SEOG awards. Sources of funds: both internal and external including revenues from indirect costs recovered from federal, state, local, or private grants; transfers in from other funds; other Board or management designated funds. Uses of funds include functionally classified education and general expenditures incurred by the specific programs and activities; transfers out to other funds.

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380

This fund accounts for District scholarship activity. Scholarships are usually based on scholastic achievement or financial need. However, some scholarships are awarded for academic excellence or special talents in specific areas, regardless of financial need. Recipients of scholarships are not expected to render service to the institution as a consideration for their awards, nor are they expected to repay the awards. Sources of funds: The source of funds for Fund 380 are from contributions from outside donors (who often require specific criteria be followed in awarding a scholarship) and from interest and investment earnings of established endowments. Uses of funds: The funds are used to award scholarships based on donor criteria.

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510

This fund accounts for the numerous District loan programs categorized as Short-Term Loans. All loans are non-interest bearing. With the exception of the Urban Teacher Loan fund at Rio Salado, all repayment periods are short-term with payment in full required prior to the close of the semester. The majority of loans are made for tuition, but loans can be made for books and personal emergencies. The Urban Teacher Loan is a long-term (non-federal) loan and enters repayment status when the borrower ceases to be a student. Sources of funds: There are externally funded as well as college funded loan accounts funded by: Donations and gifts; Transfers from auxiliary and restricted funds; Designated miscellaneous revenues. Uses of funds: Funds are used for the establishment of new loans and any related adjustments or bad debt loss.

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520

This fund accounts for activities related to two federal loan programs - the Federal Perkins Loan program and the Nursing Student Loan program. The Federal Perkins Loan program is a long-term interest bearing loan program with repayment periods up to 10 year. A borrower begins repayment nine months after they cease to be at least a half-time student. Regular billing activities are contracted out. The Nursing Student Loan program is a long-term interest bearing loan program. There are no current loan disbursements or new Federal Capital Contributions. These loan programs are in close out status. Regular billing activities are contracted with a third party and collections are remitted to the federal DHHS. Sources of funds: Revenue sources include: Federal award (Perkins); Loan collections; Investment income; Interest income and fees from outstanding loans; Transfers in. Uses of funds: Uses of funds include: Indirect costs; Bad debts and cancellations of loans; Loan disbursements; Refunds/collections to grantor agency; Transfers out.

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610

Specific endowments representing private donations originating over the past 30 years. Sources of funds: Private gifts and donations. Uses of funds: N/A

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620

This fund accounts for transactions relating to board designated quasi-endowments. Quasi-endowments are defined as a fund established by the governing board to function like an endowment fund but may be expended at any time at the board's discretion. These quasi-endowments include funds for the self-insured worker's compensation plan as well as any specific quasi-endowments established from private funds. Sources of funds: Funds are provided from internal non-mandatory transfers from the General, Auxiliary, and Restricted funds, and from the investment earnings of the funds reserved for worker's compensation claims. Uses of funds: N/A - use of funds may be expended only at the discretion of the Board.

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710

Accounts for specific state aid funded major capital expenditure transactions. Sources of funds: State appropriations for capital expenditures, capital property tax levy, and related investment earnings. Uses of funds: Renewal and replacement of capital assets, including capital equipment, buildings and grounds, remodeling projects, library books, lease payments for equipment purchased under capital leases, major and emergency maintenance, and ADA maintenance.

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730

Accounts for transactions related to the issuance of general obligation (G.O.) bonds and the use of the bond proceeds. Transactions include G.O. bond project capital expenditures and investment and investment earnings transactions related to the unexpended portion of the bond proceeds. Sources of funds: Proceeds from the issuance of general obligation bonds and the related investment earnings. Uses of funds: Major capital development projects as defined by the bond indenture agreement, bond related issue costs, and payment of related bond principal and interest.

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740

Accounts for transactions related to the issuance of revenue bonds and the use of the bond proceeds. Transactions include revenue bond project capital expenditures and investment and investment earnings transactions related to the unexpended portion of the bond proceeds. Sources of funds: Proceeds from the issuance of revenue bonds and the related investment earnings. Uses of funds: Major capital development projects as defined by the bond indenture agreement and payment of related bond principal and interest.

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750

Accounts for transactions related to the issuance of certificates of participation (COPs) and the related capital lease purchase obligation. Transactions relate to COPs project capital expenditures and investments and investment earnings transactions related to the unexpended portion of the COPs obligation proceeds. Sources of funds: Proceeds from the issuance of the COPs obligation and the related investment earnings, transfers of funds from Auxiliary and Restricted Funds. Uses of funds: Major capital development project expenditures as defined by the COPs lease purchase agreement and payment of the related lease obligation principal and interest.

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810

Accounts for transactions related to the funds maintained and used for payment of the current period debt service for the G.O. bond liabilities and related interest expense. Sources of funds: Secondary property tax levy and related investment earnings. Uses of funds: Payment of the required G.O. Bond principal and interest due in the current period.

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820

Accounts for transactions related to funds maintained and used for payment of the current period debt service for revenue bond liabilities and the related interest expense. Sources of funds: Mandatory transfer of funds from the Auxiliary Enterprises Fund and related investment earnings. Uses of funds: Payment of required revenue bond principal and interest due in the current period.

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860

The Investment in Plant Fund accounts for all current fund and unexpended plant fund capitalized expenditures for buildings, land, equipment, etc. (including construction in progress), and their corresponding liabilities. Only one CFS fund segments are defined under the Investment in Plant Fund.Accounts for transactions and activity related to purchased, donated and constructed plant assets and the related bond or lease liability associated with such assets.The Investment in Plant Fund is represented in the Comprehensive Annual Financial Report as: "Plant Funds - Investment in Plant". Within this designated financial statement column definition, the fund balance of the Investment in Plant Fund is segregated as the line item "Fund Balance: Net Investment in Plant" on the Balance Sheet. Sources/Use of funds: Plant assets are increased (via journal entry) by the total of the recognized additions to the fund for donated plant assets and expenditures for plant facilities net of disposals and sales proceeds. Outstanding debt obligations are decreased by the amount of the net additions to fund balance for principal payments and gains or losses on early refunding of debt that were recognized during the period.

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910

Accounts for transactions and activity related to activities of the specified club or external organization. Sources of funds: Sources of funds include cash receipts received from club members or club activities. Use of funds: Funds are used for expenditures or transfers as prescribed by the applicable club.

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920

Accounts for transactions and activity related to a defined event. Sources of funds: Sources of funds include cash receipts resulting from registration fees and deposits collected from event participants or sponsors. Use of funds: Funds are used for expenditures relating to the defined event.

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950

This fund consists of a set of clearing accounts used to account for payroll and benefit related withholdings and payroll deductions. Withheld or deducted funds are channeled through these accounts and recorded as liabilities (due to third parties, e.g. insurance agencies; or due to employees). The accounts are cleared when the money is paid to the third parties. Sources of funds: The sources for Fund 950 are a result of payroll related earnings, benefits, and deductions transacted and submitted on each payroll by the Human Resource System (HRS) feed into the Accounts Payable and General Ledger systems. There will not be any revenue nor expense activity in this fund since it is merely a pass-through account. Account balances in this fund, if any, typically consist of cash and liabilities only. Use of funds: These funds are used to clear all payroll related liabilities including payroll taxes and insurance benefit payments.

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Maricopa Community Colleges

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2411 West 14th Street · Tempe, AZ · 85281
 
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