Glossary_3

Payroll Expense Transfer:   The process of correcting a payroll amount that has been charged to an incorrect department, account code or position number.

Permanent Budget Revision:   Annualized changes made to the base budget that serve as the foundation for the next fiscal year operating budget.

Position Distribution:  The designation of departments from which payroll expenses for a position are to be charged (see also Earnings Distribution).

Position Number:   The five-digit or eight-digit code is automatically assigned to a position in the H.R. system when a position is initiated by a department via the New Position Request Form. A unique number is assigned to each position and has no link to a department, area or account code. No two positions (pool or individual) throughout the campus will share the same position number. Contact Human Resources to establish a new position number.

Reallocation:  See Budget Reallocation.

Reimbursement:   Repayment to a department or fund for services provided or payments made.

Restricted Funds:  Gifts, grants, contracts, and endowments received from local, state, federal, and private sources and used only as specified by the donor.

Revenue Bonds:  Funds borrowed against anticipated revenue and most often used for Auxiliary Enterprises. Such bonds may also be used for service unit improvements, as in the utilities system, creating savings in the educational and general budget.

Revenues:  Income to cover an institution's expenditures. See State Appropriations and Revolving Fund.

Revolving Fund:  A component of the educational and general fund, consisting of revenue from student tuition and fees; gifts, grants, and reimbursements; sales and services of educational departments; and all other revenue available to the institution in support of educational and general activities. The fund is classified as "revolving" because the balance of funds is retained by the university from year to year.

Section 13/New College Funds:   Income from the sale and lease of state Section 13 lands which were granted at statehood for the use and benefit of higher education institutions. Under law, institutions may use these funds "for construction and purchase of buildings, for the purchase of equipment, and for other capital additions."

Self-Generated Funds (soft money):   Funding generated at the budget unit or departmental level (usually designated for that department or unit) and considered by the Oklahoma State Board of Regents as part of "Educational and General Part I" funding in addition to centrally allocated funds. Examples include course fees, foundation reimbursements, and gifts restricted to a specific department.

Service Unit:  An entity that provides a specific service to other institutional departments, rather than to individuals, and charges those departments for services rendered. These units serve as intermediaries for expenditures of other operating departments. They include physical plant, central computing, office systems support and rental, motor pool, the telephone system, public safety, the storeroom, printing services, architectural and engineering services, etc.

Soft Money:  See Self-Generated Funds.

State Appropriations:   Annual legislative allotment from the state's general revenue fund.

University System:  The Norman Campus, Law Center, Tulsa Campus, and Health Sciences Center in Oklahoma City.

Unrestricted Funds:  Monetary resources that are not subject to specific external guidelines or regulations and are expendable for any activities that promote the instruction, research, and public service missions of the university.