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Fund/Fund Type (F) Financial Glossary

What is it? F in FOAPAL. The fund element is used to specify the funding source. Examples of funds include educational and general, auxiliary enterprises, financial aid, and indirect cost recovery. For funding sources other than grants and contracts, the fund code represents information similar to the ledger used in the old Finance system. Each grant or contract is assigned a separate fund code to identify the funding source. When performing budget queries for inception-to-date information on grants, the fund code becomes the grant code.

Finance Term Definition Added By: Ashlyn

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