Chart of Accounts “M” represents the college. “F” represents the MCC Foundation.
Index Tied to a specific department.
Fund Represents the source of the funds. The fund is five (5) characters in length.
Organization The organization code identifies the organizational unit that is responsible for the
financial activity captured with the code, i.e. English Department, Counseling Services,
or Printing Services.
Location Identifies the physical whereabouts of financial transactions and college assets.
Grant Grant Identification number. ONLY required when viewing Grant Inception-to-Date information.
Fund Type Fund type can be used to query budget information for a specific organization using
only one hierarchy source of funds.
Account The account code classifies revenues and expenditures.
Program The program code identifies the major purpose of the expenditure. The program has
two (2) characters.
Fiscal Year Represents the college’s fiscal year from September 1 to August 31. Example: “2019”
relates to the year starting September 1, 2018 and ending August 31, 2019.
Adopted Budget Original budget allocation provided at the beginning of the fiscal year. This budget
is approved by the Board of Trustees and the County of Monroe.
Budget Adjustment Any additions or reductions made to the budget since the original allocation. This
includes both permanent and temporary adjustments.
Adjusted Budget This is the current budget which is the “adopted budget” plus or minus any “budget
adjustments” and is a total of all budget transactions.
Temporary Budget Adjustments done in the current year that are temporary in nature.
Year-to-date Year-to-date budget activity. Represents actual expenditures posted.
Encumbrances Generated by purchase orders and salary encumbrances. Funds committed for future payments.
Reservation Setting aside of budget generated by a purchase requisition. Requisitions remain
in a “reservation” until converted to a purchase order.
Commitments Equal to the total budget set-aside for future obligations.
Available Balance Remaining budget left to spend.
Budget Transfer This involves a process whereby available dollars are moved within or between departmental
budgets.
