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The 'P' sources of funds are used for funding received specifically or approved for buildings.

 

Funding

Funding is handled through the GL and AR modules. Funding is collected to match the expenditure on a project. No project proceeds until a warrant (or internal budget) has been agreed, stating total costs and total funding.

Once a project has been identified and given preliminary approval then funding can be collated in the P source of funds. Currently if a department wishes to save for a building project then until Building Sub Committee gives approval the funds should remain in the original source of funds.

 

The P source of funds covers several areas:

  • Specific donations for building projects either private donation, corporate or HEFCE.
  • Funds held within the University for building projects.
  • Allocations for building work.
  • Transfers to building funds from other sources e.g. from departments.

 

Transfers from other sources:

These are carried out by means of a journal using the transaction code EXCC.

DEBIT: departmental account
CREDIT: the building fund

From a University perspective this is just a movement of funds from one department to another therefore; an internal invoice must not be raised.

An invoice would result in 'double counting' e.g.

  • The department codes as income the funds it received/collated
  • EM incurs the original building costs
  • EM then invoices the department for the funds
  • The department codes the invoice to expenditure
  • EM then code the funds received from the department as income

 

Expenditure

The related capital expenditure is entered via the Projects module by EM. It is shown in the General Ledger as follows:

Cost Centre: For each project a separate cost centre is set-up within the Estate Management cost centre range.
Source of funds: All costs are coded against one source of funds PBAA. This covers major projects, minor projects and building maintenance fund projects.
Transaction code: All the costs are collated into the transaction code PADA - construction in progress as required by the projects module templates.

Note that similarly to the research module, if analysis is required concerning costs then it must be done within the projects module itself, because in the GL all the costs for one project are coded to one cost centre, one source of funds and one transaction code.

Once a project is completed then the costs will be transferred from construction in progress to a land and buildings fixed asset transaction code.

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