The employment period for faculty is typically nine months (two semesters or 39 consecutive weeks).
10 Month Faculty
The employment period for faculty is typically ten months (43.6 consecutive weeks).
600 series Month Faculty
The 600 series is a list of items maintained by the Department of Commerce. The 600 series items are also known as the Commerce Munitions List. These items have a military application but are considered less sensitive than items on the United States Munitions List. Any equipment item on this list must be identified as a 600 Series item in UF’s property records or a departmental list of Attractive items. As soon as an item is identified as being a 600 series item, the Division of Research Compliance and Global Support will be contacted. Division of Research Compliance and Global Support will assist the department in developing any needed security measures.
A
ACH
Automated Clearing House (ACH) payments are electronic payments made through the Electronic Clearing House Network. Funds move from one bank account to another with the help of an intermediary that routes funds to the final destination.
Additional Pay
Earnings an employee receives in addition to regular pay. It can also refer to a lump sum payment, such as a one-time payment, to someone outside of UF.
Adjunct Faculty
Temporary (OPS) Faculty are also known as “adjunct” faculty. Their appointments are temporary or short in duration (one term at a time).
Allocation (9905.502-30.a.1)
To assign an item of cost, or a group of items of cost, to one or more cost objectives. This term includes both the direct assignment of cost and the reassignment of a share from an indirect cost pool.
Allowable Costs
An expense which can be placed in the indirect cost rate proposal based on the following: Reasonable – A prudent person would have purchased the item and paid that price; Allocable – Expenses are at least partially applicable to a sponsored agreement. This is true for direct and indirect costs; Consistently Treated – Expenses for similar purposes must be treated the same way (throughout the university) under like circumstances; Allowable – The expense must be allowable or not specifically excluded as specified by government regulations
Amount Account
Additional bank account(s) to have specific amount deposited. Amount must be entered in the system. Amount accounts may be deleted. If Amount accounts are created, these amounts are sequentially taken out in order of priority (1, then 2, then the remainder (if any) of your deposit goes into your Balance account).
Attractive Property
Attractive property is tangible personal property less than $5,000. The University or the department wishes to track the property due to various reasons, including: contains sensitive data, prone to theft or loss, department is required or wishes to track the property. myAssets is the tool used to track and identify Attractive Property. Each department is responsible for tracking and identifying its attractive property.
B
Balance Account
This is your primary account where your funds are deposited. There must always be a Balance account and although it can be changed, it can never be deleted.
C
Cannibalization
When property is dismantled to use parts to repair other property.
Capital Assets
Capital assets, sometimes referred to as fixed assets, are resources of the University and are included on the University’s financial statements. A capital asset is long-term property that UF owns and uses in fulfilling its mission and is not expected to be consumed within one year of acquisition. The Asset Management module of myUfl contains the official property record of Capital Assets and is the data source for financial reporting of capitalized property. The Asset Management Department is responsible for managing and maintaining these property records.
Capitalization Threshold
The capitalization threshold defines the criteria(s) for capitalizing University of Florida assets.
Cash Equivalent
Readily convertible to cash, for example, a voucher for merchandise, gift card/certificate, or savings bond.
Casualty Loss
When property is damaged due to a sudden, unexpected, or unusual occurrence such as a vehicle accident, hurricane, flood, fire, shipwreck, or earthquake. This would not include gradual damage from water seepage or erosion.
Change Fund
A Change Fund is used solely to make change for customers purchasing goods or services from the University. No purchases or disbursements can be made from a Change Fund. The balance of the Change Fund must remain the same at all times.
ChartField
A data field that stores accounting information.
Class “C” Travel
Travel for day trips where the traveler is not away from official headquarters overnight. Class “C” meals are not reimbursed by the University.
Code-Share Agreement
A commercial agreement between two airlines that allows an airline to put its two-letter identification code on the flights of another airline as they appear in computerized reservations systems.
Combination Code
A Combination Code is a 7- or 9-digit number created by General Accounting (GA) used in the Commitment Accounting department budget table module. It represents the complete unique ChartField combination (cost center) for the General Ledger (GL). Combination Codes are used to distribute all payroll charges such as salary and additional pay. A Combination Code is any valid combination of ChartFields, but all Combination Codes must have at minimum: Department ID, Fund, Program Code and Budget Reference.
Committed Effort
The amount of effort proposed in a project application and accepted by the sponsor, regardless of whether salary support is requested. Committed effort may be adjusted with the approval of the sponsoring agency.
Commitment
A commitment is reflective of the promise of time/effort made to the sponsor. This time can be designated over the life of the award, a project period, a budget period, or to specific terms. Most federally funded research programs should have some level of committed effort, paid or unpaid. This effort can be provided at any time within the fiscal year (summer months, academic year, or both).
Commitment Control (KK)
An accounting methodology that identifies and reserves (or “commits”) funds for future payment obligations. It is designed to answer the question: “What is my available spending authority?”
Componentization
Componentization is the practice of separating the asset into component parts, such as the roof, electrical, HVAC system, flooring, etc. Each part has a different rate of depreciation based on their physical life.
Cost Accounting Standards
The Cost Accounting Standards (CAS) consist of nineteen standards promulgated by the Cost Accounting Standards Board (CASB) designed to ensure uniformity and consistency in the measurement, assignment and allocation of costs to contracts with the United States Government. CAS covers a variety of costs such as depreciation, pension plans, personal compensation, indirect costs, and other areas of cost accounting.
Cost Center
A cost center is a combination of ChartFields that reflect the level at which the “authority to spend” is controlled.
Cost Objective (200.28)
Cost Objective means a program, function, activity, award, organizational subdivision, contract, or work unit for which cost data are desired and for which provision is made to accumulate and measure the cost of processes, products, jobs, capital projects, etc. A cost objective may be a major function of the non-Federal entity, a particular service or project, a Federal Award, or an indirect (Facilities & Administrative (F&A)) cost activity, as described in Subpart E-Cost Principles.
Cost Sharing
The portion of the total costs of a project borne by the University of Florida and not borne by the Sponsor.
Cross-College
Between two different colleges where the first (2) digits of the Department ID are different.
D
De Minimis Benefit
IRS Publication 15-B states that a de minimis benefit is any property or service you provide to an employee that has so little value (taking into account how frequently you provide similar benefits to your employees) that accounting for it would be unreasonable or administratively impractical. While the IRS does not define a de minimis value, it has advised at least once that a benefit valued at $100 did not qualify as de
minimis.
Decal
Asset tag placed on capital assets, attractive property, and federal property. Printed on the decal will be a unique tag number, used to identify the item, and a bar code.
Defined Benefit Plan
A retirement plan that provides a guaranteed lifetime monthly benefit using a formula based on service and salary while working for a covered employer (e.g. the Florida Retirement System Pension Plan).
Defined Contribution Plan
A retirement plan in which the benefit depends on the amount of money contributed to the employee’s account and its growth over time (e.g. the Florida Retirement System Investment Plan).
Department Security Administrator (DSA)
This is the position designated to coordinate access requests to University’s systems at the Dept ID level.
Departmental Contact
The Departmental Contact handles the day-to-day operations related to property.
Direct Costs
Costs that can be identified specifically with a particular sponsored award, an instructional activity, or any other institutional activity, or that can be directly assigned to such activities relatively easily with a high degree of accuracy. Costs incurred for the same purpose in like circumstances must be treated consistently as either direct or indirect costs. Where an institution treats a particular type of cost as a direct cost of sponsored awards, all costs incurred for the same purpose in like circumstances shall be treated as direct costs of all other activities of the institution.
Direct Support Organization (DSO)
An entity organized and operated exclusively to receive, hold, invest and administer property and to make expenditures to or for the benefit of the University.
Discount
An allowance extended by a supplier to encourage payment of an invoice on or before a stated date that is earlier than the NET (due) date and which is agreed to by the supplier and the University.
Discretionary Sales Surtax
Many Florida counties have a discretionary sales surtax (county tax) that applies to most transactions subject to the sales or use tax. The county surtax rate applies to a taxable item or service delivered into a county imposing a surtax. For certain transactions, only the first $5,000 of a taxable sale or purchase is subject to the discretionary sales surtax.
Distributions
Distributions are part of commitment accounting and are used to identify the funding source for an employee.
Documentation
Detailed explanation and support documents as evidence to substantiate allocability, allowability, and reasonableness for a specific transaction.
Draw Schedule
This is a detailed payment plan for a construction project. The goal is to make progress payments to the contractor as work is completed.
E
Educational Assistance
The term “educational assistance” means— (A)the payment, by an employer, of expenses incurred by or on behalf of an employee for education of the employee (including, but not limited to, tuition, fees, and similar payments, books, supplies, and equipment), and (B)the provision, by an employer, of courses of instruction for such employee (including books, supplies, and equipment.)
Effort
Effort is the time devoted to a particular activity, expressed as a percentage of the total time spent on UF activities.
EFT
Electronic Funds Transfer (EFT) is a system of transferring money from one bank account directly to another without any paper money changing hands.
Employee
You are an employee if you perform services that can be controlled by an employer (what will be done and how it will be done). This applies even if you are given freedom of action. What matters is that the employer has the legal right to control the details of how the services are performed, whether or not the right is actually exercised.
Encumbered
An encumbrance represents a commitment, which generally results from the issuance of a purchase order for which goods or services being purchased have not yet been received. Since the goods or services being purchased have not been received, they are not considered a liability and therefore, no legal obligation to pay exists. Encumbrances are deducted from budget balances. This is done as a budgetary control and should not be construed as an actual expenditure.
Encrypted
Convert information or data into a cipher or code, especially to prevent unauthorized access.
ePAF
Electronic Personnel Action Form (ePAF) is a form used to support HR transactions such as hires, retirements, terminations, reclassifications, etc. for Faculty, TEAMS, OPS, and students.
Exempt Employee
An employee who is exempt from the Fair Labor Standards Act overtime payment provisions (“Salary”).
Expense Refund
These include refunds, reimbursements, rebates, and returned funds from a vendor.
Export Control Classification Number (ECCN)
The ECCN is an alpha-numeric classification code used by the Department of Commerce for export control purposes. The ECCN is used to help determine if access to a particular item should be restricted or if a special license will be required before the item can be transported to a foreign country. Vendors/manufacturers can supply the ECCN. When purchasing new scientific or technical equipment the ECCN should be requested from the manufacturer and included in the description or comment field. The ECCN will be required on any property item before it can be transported outside of the US.
F
Fabricated Equipment
Fabricated equipment includes equipment that is constructed by individuals or departments by assembling parts or basic materials purchased. The total value of all combined parts must meet the capitalization threshold for the category of equipment in which it is related.
Federal Insurance Contributions Act (FICA)
Includes both Social Security and Medicare taxes levied on individuals.
Federal Sponsored Award
Any Federal grant, contract, or cooperative award received directly by the University of Florida as well as subawards received by the University under Federal Sponsored Awards to other organizations.
Fee-for-Service Educational Activity
Revenue-generating activity from the provision of goods and/or services. Such activity enhances, promotes, or supports the University’s instruction, research, public service and campus support functions, and other educational and support functions in order to meet the needs of students, faculty, staff, and members of the public participating in University events and programs.
Fellowship (non-Training Grant)
A fellowship grant is generally an amount paid or allowed to an individual for the purpose of study or research and does not require repayment or the performance of present or future services (primarily for the benefit of the grantor) to receive it. UF reports non-training grant fellowship income in Box 5 of Form 1098-T to both the recipient and the IRS at year end.
FICA Alternative
The FICA Alternative Plan is a defined contribution plan authorized under section 401(a) of the
Revenue Code. Employees in certain temporary positions are mandated to participate in lieu of earning credit for Social Security.
Fiscal Year End
Completion of the business unit’s 12 periods, or one-year accounting period.
First In, First Out (FIFO)
An accounting method for inventory in which the first items purchased are assumed to be sold first.
Fixed Capital Outlay (FCO)
Real property (land, buildings, fixtures and fixed equipment) including additions, replacements, major repairs, and renovations to real property which materially extend its useful life or materially improve or change its functional use and including furniture and equipment necessary to furnish and operate a new or improved facility, when appropriated by the Legislature in fixed capital outlay appropriation category.
Form DS-2019
Certificate of Eligibility for Exchange Visitor (J-1) Status used to obtain a J-1 Exchange Visitor visa. The form can only be issued and endorsed by a Responsible/Alternative Responsible Officer (in the UF International Office). J-1 Students are usually those funded by a government or institution. They may be degree-seeking or participating in a reciprocal exchange or cooperative education program. Other DS-2019 categories include Research Scholar, Short-Term Scholar, Professor, and Student Intern. Before the advent of the SEVIS system, the form used for J-1 visitors was called “IAP – 66.”
Form I-797
A form used by the U.S. Citizenship and Immigration Services (USCIS) to grant complementary immigrant benefits and status. It is the H1B approval notice issued by USCIS for work authorization.
Form I-9
Employment Eligibility Verification form required by U.S. Citizenship and Immigration Services. It is used by an employer to verify an employee’s identity and to establish that the worker is eligible to accept employment in the United States.
Form I-20
Certification of Eligibility for Nonimmigrant (F-1) Student Status used to obtain an F-1 student visa. F-1s are usually privately-funded, full-time, degree-seeking students. The specific program and expected date of completion of studies are on the form. This form can only be issued or endorsed by the Designated School Official (DSO).
Fringe Benefits (FB) Rate
Fringe benefits rates are pooled rates that include the employer costs of taxes and benefits for Social Security, Medicare, health insurance, retirement, life insurance, clinical disability insurance, worker’s compensation, unemployment compensation, eligible leave cashouts, sick leave pool payments and paid parental leave payments. They change every year, and are different depending on the employee category.
FTE
Full time equivalent. If you are hired to work 100% of the normal or standard workweek (a full-time position), you will have an appointment of 1.0 FTE.
Fund
An independent fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations.
G
Garnishment
A court order directing that money or property of a third party (usually wages paid by an employer) be used to satisfy a debt owed.
General Ledger
An account book of final entry. In an accounting system, the general ledger is the place in the system where financial information resides.
GL Closing Date
Date the General Ledger is closed. No transactions can be posted after closing.
Government Owned/Furnished Property (Federal Property)
For the purpose of these directives and procedures, government owned/furnished property refers to federally owned furniture and equipment, which has been made available to the University for use on a particular contract, grant or through a specific program, who’s title has remained with the federal government.
H
High Risk Departments
Departments that have demonstrated in the past an inability to effectively control and account for their capital assets. The following factors are considered in determining a high-risk department: • Unable or unwilling to meet annual inventory deadlines • Lack of safe guarding and control by higher than average disposed capital assets classified as lost, stolen, or improperly disposed • Inexperienced Property Custodian and/or Department Contact
I
I-94 Card
DHS Arrival/Departure Record that the visitor receives upon entry to the U.S. A paper I-94 indicates Admission Number, Visa Type, place/date of admission to the U.S., and specific period of authorized stay (or duration of status– D/S).
I-766 Employment Authorization Document (EAD)
A Form I-766 Employment Authorization Document (EAD or EAD Card), known commonly as a work permit, is a document issued by the U.S. Citizenship and Immigration Services (USCIS) that provides temporary employment authorization to noncitizens in the United States.
Independent Contractor
People such as doctors, dentists, veterinarians, lawyers, accountants, contractors, subcontractors, public stenographers, or auctioneers who are in an independent trade, business, or profession in which they offer their services to the general public are generally independent contractors. However, whether these people are independent contractors or employees depends on the facts in each case. The general rule is that an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done. Simply calling someone an independent contractor does not necessarily make it so.
Indirect (F&A) Costs
Costs incurred for common or joint objectives [of the University] and not readily assignable to a particular sponsored award, instructional activity or other institutional activity, without effort disproportionate to the results achieved. “Facilities” is defined as depreciation on buildings, equipment and capital improvement, interest on debt associated with certain buildings, equipment and capital improvements, and operations and maintenance expenses. “Administration” is defined as general administration and general expenses such as the director’s office, accounting, personnel, and all other types of expenditures not listed specifically under “Facilities.”
Individual Taxpayer Identification Number (ITIN)
An ITIN is a tax processing number only available for certain nonresident aliens and resident aliens, their spouses, and dependents who cannot get a Social Security Number (SSN). It is a 9-digit number, beginning with the number “9,” formatted like a SSN (9NN-NN-NNNN). A person may not use an ITIN instead of a SSN for employment.
Institutional Base Salary (IBS)
The annual compensation paid by the University of Florida for an employee’s appointment, whether that individual’s time is spent on research, teaching, patient care, or other activities. By definition, an individual’s total University effort must equal 100% – never more or less – regardless of the number of hours worked or the appointment percent. For the purposes of determining Institutional Base Salary for compliance with 2 CFR 200, not all activities undertaken in an individual’s professional capacity are included in activities compensated by IBS.
Institutional Review Board (IRB)
The UF Institutional Review Boards (IRBs) are charged with protecting the rights and welfare of participants in clinical trials and other participant research studies. UF IRBs review all research involving participants to ensure the welfare and rights of research participants are protected as mandated by federal and state laws, local policies, and ethical principles.
Interchange Fee
Interchange fees are transaction fees that the merchant’s bank account must pay whenever a customer uses a credit/debit card to make a purchase from their store. The fees are paid to the card-issuing bank to cover handling costs, fraud and bad debt costs and the risk involved in approving the payment.
International Traffic in Arms Regulations (ITAR)
Export control regulations designed to help ensure that defense related technology does not get into the wrong hands. This is a stringent set of regulations, written for articles with direct defense-related applications. Articles specifically designed or otherwise intended for military end-use are enumerated on the United States Munitions List (USML) or the Missile Technology Control Regime (MTCR) Annex and are, therefore, controlled by ITAR.
Internet Protocol (IP)
The method or protocol by which data is sent from one computer to another on the Internet. Each computer (known as a host) on the Internet has at least one IP address that uniquely identifies it from all other computers on the Internet.
IPAY
The preferred e-Commerce implementation is through the University web payment gateway (IPAY), together with CASHNet’s eMarket storefront or checkout. The department is responsible for developing an interface to the IPAY gateway based on standards specified by the UFIT liaison of the E-Commerce Committee. Any exception to this practice must be approved by the University Controller’s Office.
J
K
L
Last In, First Out (LIFO)
An accounting method for inventory and cost of sales in which the last items purchased are assumed to be sold first.
M
Mandatory Cost Sharing
Mandatory cost sharing is required by statute or as condition of a specific solicitation or program announcement. It will normally appear in the award document from the agency. Mandatory cost sharing expenditures are tracked and accounted for and will be reported back to the sponsoring agency in a Financial Report.
Major Functions of an Institution
Refers to instruction, organized research, other sponsored activities and other institutional activities as defined.
Major Projects
Construction of new facilities (which encompasses the addition of square footage to existing facilities) and renovation projects costing more than $2,000,000.
Memorandum of Understanding
A legally binding document that sets forth the conditions of the fellowship between the foreign national and the University of Florida regarding their activities while at the university. This document indicates that fellowship payment(s) to the visitor are not for any services provided and that there is no employer-employee relationship.
Minor Projects
Construction of new facilities (which encompasses the addition of square footage to existing facilities) and renovation projects costing less than $2,000,000.
Modified Total Direct Costs (MTDC)
MTDC means all direct salaries and wages, applicable fringe benefits, materials and supplies, services, travel, and sub-awards and subcontracts up to the first $25,000 of each sub-award and subcontract (regardless of the period of performance of the sub-awards and subcontracts under the award). MTDC excludes equipment, capital expenditures, charges for patient care, rental costs, participant support costs and the portion of each sub-award and subcontract in excess of $25,000. Other items may only be excluded when necessary to avoid a serious inequity in the distribution of indirect costs, and with the approval of the cognizant agency for indirect costs.
N
No Cost Extension
A no cost extension extends the project period beyond the original project end date. As the phrase “no cost” suggests, there is no additional funding.
Non-Exempt
An employee who must comply with the Fair Labor Standards Act overtime payment provisions. All hourly USPS and TEAMS classifications are designated as non-exempt and, as such, require that time worked be recorded on an hourly basis. In addition, all hourly OPS employees appointed through Human Resources Services or as student assistants are non-exempt.
Nonresident Alien
A nonresident alien (NRA) is an individual who is not a U.S. citizen or Lawful Permanent Resident (aka Green Card Holder), or who does not satisfy the Substantial Presence Test. In general: • F and J student visa holders are considered non-residents during their first five full or partial calendar years in the U.S. • J professors and researchers are considered non-residents during their first two full or partial calendar years in the U.S. • H-1, TN and O-1 visa holders are considered non-residents until they meet the substantial presence test
O
Off-site
A location not identified in the University’s space file. A complete list of University locations can be found at UF’s Space Tracking & Reporting System.
Operation and Maintenance
Those costs that have been incurred for the administration, supervision, operation, maintenance, preservation, and protection of the institution’s physical plant. They include expenses normally incurred for such items as janitorial and utility services; repairs and ordinary or normal alterations of buildings, furniture and equipment, care of grounds; maintenance and operation of buildings and other plant facilities; security; earthquake and disaster preparedness; environmental safety; hazardous waste disposal; property, liability and all other insurance relating to property; space and capital leasing; facility planning and management; and, central receiving.
P
Pay List
Payroll listing available through Enterprise Reporting which provides a list of employees and identifying information, including the amount paid on a specific pay. Navigation: Enterprise Reporting > Access Reporting > Human Resources Information > Pay Information > Current Pay Cycle > Delivered Payroll Paylist Reports > Final (or Preliminary) Payroll Listings date.
Payment Card Industry Data Security Standard (PCI DSS)
The Payment Card Industry Data Security Standard (PCI DSS) was developed to encourage and enhance cardholder data security and facilitate the broad adoption of consistent data security measures globally. PCI DSS applies to all entities involved in payment card processing—including merchants, processors, acquirers, issuers, and service providers. PCI DSS also applies to all other entities that store, process or transmit cardholder data.
Payroll Cost Distribution Report (PCDR)
The PCDR is updated and available following each payroll closing and may be run on an individual employee for a specific pay period, for the entire department, or a specific project. The reports are available in Enterprise Analytics in both PDF and Excel formats. The Excel format option is useful for month-end or fiscal year-end analysis because it shows you the split in date ranges. The PDF format is requested as supporting documentation for a journal entry. These reports provide an audit trail of edits/changes that occur in employee distributions. If a journal entry is processed, it does not affect these reports and will not appear in the PCDR. Items through 06/25/2009 – Enterprise Analytics > Team Content > Human Resources Information > Pay Information > Payroll Cost History > Payroll/Fellowship Cost Distribution by Cost Center and Person including Off Cycles Items after 06/25/2009 – Enterprise Analytics -> Team Content > Human Resources Information > Pay Information > Current Pay Cycle > Prompted Cost Distribution Reports > Excel- or PDF-Payroll or Fellowship Payroll and Estimated Fringe Benefits by Person, or Payroll or Fellowship Earnings and Estimated Fringe Benefits by Cost Center by Person
Payroll Cost Transfer (Retro)
A payroll cost transfer “retro” request is a reassignment of payroll charges between cost centers.
Per Diem
The payment to the traveler of a fixed amount per day. UF Per Diem is $80 per day ($20 per quarter) for both foreign and domestic travel. Per Diem is paid in lieu of meals and lodging.
Periodic Inventory
A system of inventory in which updates are made on a periodic basis. This differs from perpetual inventory systems, where updates are made immediately.
Perpetual Inventory
A method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale (POS) systems and enterprise asset management software.
Petty Cash Fund
A Petty Cash Fund provides a convenient way to pay for minor allowable business purchases. Departments should limit their Petty Cash Fund to the lowest amount that will meet their needs. Petty Cash Funds should not be used for payments to research participants.
Plant Clearance Officer
The authorized representative of the funding agency who will provide instructions for the disposition of contract property for the agency.
Portable Electronic Media Devices
Include, but not limited to, laptops, compact disks, USB flash drives, personal digital assistants and portable external hard drives.
Principal Investigator (PI)
Principal Investigator on a grant, contract or cooperative agreement. This person bears the main responsibility for costs that are charged to that agreement.
Private activity bonds
Defined in IRC 141 as bonds of which 10% or more of the bond proceeds are used in a trade or business conducted by a nongovernmental organization, such as a private business, charitable organization, or individual (private business use test) AND of which the private security or payment test is also met.
Program Income
Program income means the gross income earned by the non-Federal entity that is directly generated by a supported activity or earned as a result of the Federal award during the period of performance. Program income includes but is not limited to income from fees for services performed, the use of rental or real or personal property acquired under Federal awards, the sale of commodities or items fabricated under a Federal award, license fees and royalties on patents and copyrights, and principal and interest on loans made with Federal award funds. Interest earned on advances of Federal funds is not program income. Expect as otherwise provided in Federal statues, regulations, or the terms and conditions of the Federal award, program income does not include rebates, credits, discounts, and interest earned on any of them.
Property Custodian
The University President has final responsibility for all capital assets that are in possession of the University. Based on specific departments, this responsibility is delegated to the Vice Presidents, Deans, Directors or Chairpersons, or a Designee. The person to whom this responsibility is assigned becomes the “Custodian” of the assets. All Custodians must be a full-time EXEMPT employee with direct knowledge of the operations of the department.
Purchase Order
A contract for the purchase of a good or service. The process of issuing a PO ensures compliance with purchasing policies, budget checking for available funds, and encumbering of funds in the University’s budget systems.
Q
R
Real Property
Real property is buildings, land, land improvements, and infrastructure. It is any property attached directly to land as well as the land itself. These items are verified annually through the space inventory and allocation system (SPIN).
Remodel
Upgrades to a space within the building area and cannot be classified as a minor project. Does not change or add square footage to the building area; as defined by the term “addition” in the Florida Building Code (FBC) – Building section.
Renovation
Reallocation of existing square footage within the building area and can be classified as a minor or a major project depending on scope. Does not add square footage to the building area; as defined by the term “addition” in the Florida Building Code (FBC) – Building section.
Repair
Maintenance activities performed by Housing staff and/or 3rd party contractors; which cannot be classified as a minor project. Routine maintenance, reconstruction, and renewal performed to correct damage and/or deficiencies in existing space. Repair scope also includes replacement of a component required to maintain occupancy; such as lighting, air conditioning, or similar system.
Research Participant
According to federal regulations, 45 CFR 46 102.f, a participant means a living individual about whom an investigator conducting research obtains: • Data through intervention or interaction with the individual • Identifiable private information Examples of participants are a person who becomes a participant in research, data obtained through medical records, data obtained through surveys and data obtained from observation.
Resident Alien
A resident alien is an individual that is not a U.S. citizen or national of the United States and who meets either the green card test or the IRS substantial presence test for the calendar year. In general: • F and J student visa holders are considered residents after five full or partial calendar years in the U.S. • J researchers and professors are generally considered residents after two full or partial calendar years in the U.S. • H-1, TN, and O-1 visa holders are considered residents once they meet the substantial presence test.
Restrictively Endorsed
A control technique used to restrict further action in regard to a financial instrument (normally a check). The result of a restrictive endorsement places a limitation on the use of the check, such as “for deposit only.”
S
Sales Tax
Sales tax is a tax on the right to engage in a business activity. Each sale, admission, storage, or rental in Florida is taxable, unless the transaction is exempt. Sales tax is added to the price of taxable goods or services and collected from the purchaser at the time of sale. Florida’s general state sales tax rate is 6% with the following exceptions: 4% on amusement machine receipts, 5.5% (5.7% prior to January 1, 2020) on the lease or license of commercial real property, and 6.95% on electricity.
Scholarship
A scholarship is generally an amount paid or allowed to a student at an educational institution for the purpose of study and does not require repayment or the performance of present or future services (primarily for the benefit of the grantor) to receive it. UF reports scholarship income in box 5 of Form 1098-T to both the recipient and the IRS at year end.
Service Set Identifier (SSID)
A sequence of characters that uniquely names a wireless local area network (WLAN). An SSID is sometimes referred to as a “network name.” This name allows stations to connect to the desired network when multiple independent networks operate in the same physical area.
Space Allocation
The process of annually collecting information on how university buildings and rooms are being utilized. The information gathered as a result of this survey is used for many purposes. One objective is to assist with development of the Facilities & Administrative (F&A) Rate Proposal to the Federal government. Another purpose is to inventory UF space and internally track and monitor how well the University’s space is being used. Finally, data gathered as part of this allocation is also used as a part of the development of the RCM budgeting tool.
Specially Designated Nationals and Blocked Persons (SDN) List
A list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, these individuals and companies are called “Specially Designated Nationals” (SDNs). Their assets are blocked and U.S. persons are generally prohibited against dealing with them.
STAR Departments
STAR departments have special privileges and responsibilities as it relates to decaling and inventorying their capital assets and attractive property. Departments that have demonstrated exemplary property practices are eligible to be classified as STAR (Scanning Targeted Auditable Resources) departments. View the list of STAR departments.
Sub-system
Also known as sub-ledgers, these include purchasing, payables, billing, receivables, travel, projects, and grants. Sub-systems feed information directly to the General Ledger.
Substantial Presence Test
A calculation of the number of days of physical presence in the U.S. during a three-year period (as described below) including the current calendar year. If the computed number of days for the three-year period is equal to or greater than 183 days, and the number of days in the current year is at least 31, then the foreign national has met the substantial presence test, and is a resident alien for tax purposes in the current calendar year. The substantial presence test for a given calendar/tax year is computed by adding: • All of the days of physical presence in the U.S. in the current calendar year • One-third (1/3) of the days in the U.S. in the previous calendar year • One-sixth (1/6) of the days in the U.S. in the second preceding year When counting the number of days of physical presence in the U.S., any days during which the foreign national is considered an “exempt individual” are excluded from consideration. Being an “exempt individual” for the purposes of the substantial presence test does not mean exempt from paying tax.
T
Tag (Property or Decal) Number
The tag number is a unique number assigned to an item by Asset Management or by the Asset Management Subsystem in myUFL. This number is printed on a paper decal that is placed on moveable equipment. Once the decal has been place, it is not to be removed by departments. Note: For assets purchased after July 1st 2004, the asset ID and the tag number will default to the same number. Asset Management will change the tag number when the asset is owned by a governmental agency or another granting agency, where the asset is software, books, buildings or infrastructure, or when a data correction is needed for a property’s master record.
Tax Exempt Bonds
A bond usually issued by municipal, county, or state governments whose interest payments are not subject to tax.
Tax Treaties
The United States has income tax treaties with a number of foreign countries. Under these treaties, residents (not necessarily citizens) of foreign countries are taxed at a reduced rate, or are exempt from U.S. income taxes on certain items of income they receive from sources within the United States. These reduced rates and exemptions vary among countries and specific items of income.
Taxable Services
Florida assesses sales and use tax on only certain provided services (e.g. detective, burglar protection, and other protection services, nonresidential cleaning, and nonresidential pest control), with some limited exceptions.
Time Reporting Code (TRC)
Used to reflect time worked, leave, and holidays. They are also used to designate leave (paid and unpaid) as qualifying under the Family and Medical Leave Act (FMLA). Other TRCs can be used to provide administrative leave or apply shift differential, among other actions.
Trade-in
When the department exchanges property to reduce the purchase price of new property. The University of Florida does not permit the trade-in of UF owned assets for expendable materials, operating leased equipment, or equipment being purchased by Direct Support Organizations where ownership of the new asset does not reside with the University of Florida.
Training Grant
A training grant is a fellowship awarded at UF for the purpose of the individual’s research or training experience and does not require repayment or the performance of present or future services (primarily for the benefit of the grantor) to receive it. UF reports training grant income in Box 3 of Form 1099-MISC to both the recipient and the IRS at year end.
Truncated
Remove all but the last four digits of a credit card number from documentation.
U
Unencumbered
When a requisition and purchase order have not been created. Unencumbered disbursements bypass the University’s purchasing system and should only occur where normal purchasing procedures are not available or where purchasing procedures do not provide any benefit to the transaction.
United States Flag-Carrier
The term “U.S. Flag air carrier” means an air carrier holding a certificate under section 401 of the Federal Aviation Act of 1958 (49 U.S.C. App. 1371). Foreign air carriers under permits are excluded.
United States Munitions List (USML)
The USML is a list of items designated as defense related by the United States federal government. Items on this list are often referred to as ITAR (International Traffic in Arms Regulation) controlled. Any equipment item on this list must be identified as ITAR controlled in UF’s property records or a departmental list of attractive items. In order to comply with export controls, all access to an item on the USML list must be limited. As soon as an item is identified as being ITAR controlled, Division of Research Compliance and Global Support will be contacted. Division of Research Compliance and Global Support will assist the department in developing a technology control Plan (TCP) that addresses both information and physical security measures.
V
Voluntary Committed Cost Sharing
Voluntary committed cost sharing is created if a proposal includes cost sharing where none was required. If funded, the PI and the University are “committed” to providing the project with the indicated support. Voluntary committed cost sharing expenditures are not normally reported back to the sponsoring agency, however, it is still required that the University track and document these costs as they are subject to audit.
Voucher
A voucher is an online request for payment that holds PO/invoice information and creates a payment schedule.
W
Weighted Average Cost
An accounting method for inventory that takes cost of goods available for sale and divides it by the number of units available for sale to give a weighted-average cost per unit.
Wire
A bank wire is an electronic message system that allows major banks to communicate various actions or occurrences regarding client accounts. The wire represents a secure computerized messaging system that sends account information, notifications, and transaction requests between banks.
Wireless Access Point (WAP)
A networking hardware device that allows a Wi-Fi device to connect to a wired network.
Withholding Agent
A withholding agent might be the foreign entertainer or athlete’s agent or manager, a presenter, an accountant, or anyone else who is independent of the entertainer or athlete and is acceptable both to the IRS and the entertainer or athlete.
Working Capital
Working capital is an amount of expenditures the service center can retain to fund operations during fluctuations of revenue and expenditures. This is the maximum balance the service center can retain in its operating budget at any given time.
