Fund 110100 and DUO Designated Funds Transition
June 20, 2016
110100 Migration to 110001
Effective July 1, 2016, the unrestricted fund, 110100, will be phased out and all unrestricted budgets, revenues and expenses previously accounted for in this fund will migrate to fund 110001. In the past, when Chart M was active, this fund was necessary for Banner security purposes. Since Chart M has merged with Chart D, this security is no longer necessary. Utilizing one unrestricted fund will provide consistency across the University for the unrestricted fund and will eliminate the many transaction corrections that occur because of processing errors.
DUO Designated Funds Transition
As part of the FY 2016 close-out, General Accounting will transfer any balances in a school's or college’s DUO designated fund and transfer it to that college's respective RCM Over/Under Fund. A crosswalk of where the funds will be placed for each DUO designated fund is available online. Once this transfer is made, the DUO designated funds in existence will be terminated. All DUO revenues have been updated, effective July 1, 2016, to go directly to the schools’ and colleges’ unrestricted fund using the same account codes unique to DUO course offerings.
The Office of Budget and Financial Planning will ensure that the FY2017 budget is loaded to the 110001 unrestricted fund. Revenues that previously mapped to DUO designated funds will also be mapped to the 110001 for each school or college. If you have questions about how these changes will impact your FY2017 budget, please contact firstname.lastname@example.org. General Accounting will monitor the fund 110100 for several months to ensure that any transactions that hit this fund are moved to the 110001 fund. This will be done on a monthly basis prior to closing the period. General Accounting will also work with the departments impacted by transactions hitting 110100 in FY2017 to ensure that the source is migrated to the common fund. For questions concerning the accounting entries for these changes, please contact email@example.com.
Faculty and professional staff who are currently charged to 110100 and/or DUO funds will be updated automatically effective July 1, 2016. New positions will be created for all pooled positions (adjuncts, students, temps, etc.) to ensure all future hires are charged to the appropriate fund at point of hire. HRIS will work with the departments impacted by this change. For questions regarding this transition, please contact Andrea Alimmatiris via e-mail at firstname.lastname@example.org.
We appreciate your assistance and support during the transition period.