7.6.5 Agency Funds

Policy

Agency funds are defined as resources held by the institution as custodian or Budget Officer for individual students, faculty, staff members, or organizations.

The Legislative Audit Commission’s University Guidelines of 1982(amended 1997) require that each Agency account be assigned to one of seven categories (referred to as “Entities”).

How the account is funded and its general purpose determines an Agency account’s entity. The entity is assigned by the Comptroller's Office at the time a new account is established. Funds should not be transferred between entities.

The entities include:

1. Indirect Cost Support
2. Continuing Education & Public Service
3. Sales & Service of Educational Activities
4. Student Programs & Services - University Student
   • Activity Fees
   • Health Service Fees
   • Athletic Fees
   • U-High Student Activity Fees
   • Other
5. Field Trip & Foreign Study Activities
6. Agency & Clearing

All Agency account numbers begin with the digits “107xx” or “50701.”