22.2 Accounting
(Last Modified on November 4, 2010)
All USG institutions must ensure that transactional data is maintained in such a manner to fulfill all financial reporting requirements. In order to track the Federal Stimulus funds from a system standpoint, new Funds, Class Code, and Revenue Accounts have been created. Additional accounting policies and procedures currently are under development, in concert with the State Accounting Office.
22.2.1 Funds
(Last Modified on November 4, 2010)
10900 APPROPRIATIONS – FEDERAL STIMULUS
This fund will be used for all Federal Stimulus funds that are received through the State Appropriation process.
20000 SPONSORED – FEDERAL STIMULUS
Although not new, this fund will be used for all Federal Stimulus funds that are awarded as grant or project funds. The grant/project must be further identified with the Federal Stimulus funds class code, as noted below, and a unique project identifier for each CFDA number.
In Fiscal Year 2010, Energy Grants awarded by the Georgia Environmental Facilities Authority (GEFA) will be recorded in Fund 20000.
22.2.2 Class Code
(Last Modified on November 9, 2010)
FS010 FEDERAL STIMULUS FUNDS
This Class Code will be used in FY2010 for all Federal Stimulus funds received through the State Appropriation process, as well as Federal Stimulus funds received as Restricted Funds/Grants in FY2010. For other years, the Class Code will be FSYYY, with YYY representing the last three digits of the fiscal year.
FSE10 FEDERAL STIMULUS FUNDS – ENERGY GRANTS
This Class Code will be used for all Federal Stimulus Energy Grant funds awarded through the Georgia Environmental Facilities Authority (GEFA) in Fiscal 2010. For other years, the Class Code will be FSEYY, with YY representing the last two digits of the fiscal year.
22.2.3 Project Codes
(Last Modified on November 4, 2010)
A specific project code setup should be used for the Energy Grants awarded by GEFA. The project code assigned should have six (6) characters. ECM should be used as the first three characters of the six-character project code, and the three digit Record ID # assigned by GEFA to the project should be used as the last three digits of the six-character project code. For example, the Energy Optimization Project for Kennesaw State University should be assigned a project code of ECM151.
22.2.4 Revenue Accounts
(Last Modified on November 9, 2010)
421500 Federal Stimulus
This account will be used for all Federal Stimulus funds received for sponsored programs that are classified as
operating revenues, including stabilization funds.
491900 Federal Stimulus (ARRA)
This account will be used for all Federal Stimulus funds received through the State Appropriations process, as well
as Federal Stimulus funds received as Restricted Funds/Grants that are classified as non-operating revenues.
22.2.5 Notice of Award
(Last Modified on November 5, 2010)
Upon receipt of an approved award of Federal Stimulus funds, and prior to recording transactions relating to the grant, an institution must perform the following set-up activities:
Determine the description, which must include the title of the grant.
Select the Fund type: Federal.
Enter the CFDA number assigned by the grantor agency.
- State Fiscal Stabilization Funds CFDA Number – 84.394
Assign a Project number to account for the grant activity in accordance with the grant award.
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