Financial Reporting Services

FAQ

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1 ) Annual Financial Report

2 ) Facilities and Administrative (F & A) Costs

3 ) Service Centers Administration

4 ) Accounts Receivables Report

5 ) Reimbursable Endowment Funds


Annual Financial Report


How can I obtain a copy of the Annual Financial Report?


The University’s consolidated Annual Financial Report is available on our website at http://www.comptroller.ku.edu/financial_reporting_services/. The University’s fiscal year-end is June 30th. New fiscal year-end reports will be available the end of December.

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What is a program classification structure code (pcs code)?


The PROGRAM CLASSIFICATION STRUCTURE (PCS) is a set of categories and related definitions, which allows its users to examine the operations of a post secondary education institution as they relate to the accomplishment of that institution's objectives. Primary categories include…

  • Instruction
  • Research
  • Public Service
  • Academic Support
  • Student Services
  • Institutional Support
  • Operations & Maintenance of Plant
  • Scholarships and Fellowships
  • Other Activities
PCS codes are used to categorize transactions for the University’s Annual Financial Report as well as a wide variety of surveys including the Department of Ed’s annual IPEDS survey. PCS codes are assigned centrally to each department/cost center within the financial system.

NOTE: It is important for departments to notify Financial Reporting Services if the primary function of a cost center changes so that we can update the associated PCS code.

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Facilities and Administrative (F & A) Costs


What is the University’s Facilities and Administrative Rate Proposal?


In connection with our sponsored projects, the University collects Facilities and Administrative Costs (also known as indirect costs). Facilities and Administrative Costs represent a reimbursement to KU for our overhead expenses (e.g. utilities, equipment wear and tear, central office support, etc.). The KU Center for Research is responsible for collecting and redistributing all Facilities and Administrative Costs. The University’s strategic plan for the use of this revenue is to further support campus research. Therefore a portion of all Facilities and Administrative revenue is returned to the PI and department or unit.

The specific reimbursement percentage collected is based upon a negotiated rate with the Department of Health & Human Services, Division of Cost Allocation, Dallas Region (DHHS). This negotiated rate is for a specific period of time and has to periodically be renegotiated. The Comptroller’s Office Financial Reporting team is responsible for creating the initial cost proposal that is negotiated with DHHS. This negotiated rate applies to all Federally-sponsored projects as well as other sponsors. Projects funded by industry have a special rate based upon KU’s negotiated rate.

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What is JaySpace?


JaySpace is a collaborative effort that aims to enhance space information for central administration and surveyed departments. For additional space information, please visit the website Link or contact Beth Ridenour, Tracy Horstman, Mariana Traetta.

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Service Centers Administration


What is a recharge center?


A recharge center is an operating unit that exists principally to provide goods or services to KU departments and recovers less than $10,000 in annual operating expenses unless the unit’s primary customers are sponsored projects or external customers.

Operating costs are recovered by charges (sales) to those departments and entities receiving the goods or services. Recharge centers develop rates based on incurred (historical) cost and rates should be designed to break even over predetermined periods of time (not to exceed 12 months).

Example: Academic Units charging for copier and fax machine usage.

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What is a service center?


A service center is an operating unit that exists principally to provide goods or services to KU departments and recovers more than $10,000 in annual operating expenses or the unit’s primary customers are sponsored projects or external customers.

Operating costs are recovered by charges to those departments and entities receiving the goods or services. Service centers develop rates based on incurred (historical) cost and rates should be designed to break even over a 12 month time period (unless approved in advance by the Vice Provost for Administration and Finance).

Examples: Chemistry storeroom, Animal Care Unit

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Who do I contact to get help to determine the price of goods and services that are sold by my recharge center or service center?


Initial Request:
  • Units wishing to establish a service center fee must prepare a detailed justification and submit it through the appropriate administrative channels to their Department Head/Dean. The proposal for establishing a service center fee should present a clear and compelling argument for its implementation. Data should include, but not be limited to, the items listed below. Answers to the questions should be as full and precise as possible.
    • How is this proposed service center fee related to the instructional, research or public service mission of the University?
    • Why is the fee being implemented or changed?
    • Was this service/good previously provided?
    • How was the amount of the fee determined? (Include specific calculations)
    • What service/goods will be provided for that fee?
    • How much money will the fee generate per year?
    • How will the fee income be spent?
    • Source of funds for capitalized start up costs?
    • Who will be the likely customers and what is the anticipated fiscal impact on them?
    • What is the overall benefit to the proposing unit?
    • What is the cost/benefit to the University as a whole?
  • If approved, the Department Head/Dean will forward the proposal and justifications to the Service Center Fee Evaluation Committee. This committee will carefully scrutinize the submitted justification and, if necessary, request further information about the proposal. Prior to making a recommendation, the committee may consult with the proposing unit or appropriate office to modify the proposal. In addition, the Evaluation Committee may contact units likely to be impacted by the fee. Service Center Fee Evaluation Committee:
    • Katrina Yoakum, Comptroller’s Office – Chair
    • Karen Denman, IT/NTS
    • Jolene Fairchild, CLAS
    • Jason Hornberger, Budget Office
    • Mark Reynolds, KUCR
    • Beth Ridenour, Comptroller’s Office
    • Jeanne Rooney, Comptroller’s Office
  • Based upon its evaluation, a recommendation to approve or disapprove the fee will be made to the Vice Provost for Administration and Finance.
  • The Evaluation committee will work as expeditiously as possible, but departments should recognize the evaluation of fees is a complex process that may take considerable time.


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Accounts Receivables Report


When is a department required to submit an Accounts Receivable report to the Comptroller’s Office?


When a department has receivables, which is billing for commodities or services and expecting payment, an accounts receivable report is required to be submitted to the Comptroller’s Office Financial Analysis Department on a monthly basis. For further information and help concerning the report call Beverly Nightingale at 8644-3067.

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Reimbursable Endowment Funds


When you use fund 725 (Endowment funds) to make a purchase, pay an invoice, or travel, what are the requirements?


The procedures are the same as all other purchases with the exception that a completed Endowment Fund Payment Verification Form must accompany the paperwork.

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