Object Code Changes
John P. Kruczek, University Controller
Recent State of Florida Comptroller’s Memorandums require the following changes for Object Codes, effective July 1, 1995:
Title of Object Code Old Object New Object Rental-Real Property to State 004010 021010 Rental-Personal Property to State 004010 021011 Rental-Personal Property to Non-State 004011 021012 Rental-Real Property to Non-State 004012 021013 Royalty Income-State 004063 001150 Royalty Income-NonState 004064 001151 Security Deposit 004066 059001 Util. Reimbursement to Housing by Students 004067 018003 Restitution Revenue New 012008 Returned Check Service Charge Non-State/Employee 010514 012005 Returned Check Service Charge State Employees 010714 012006 Contracts and Grants-State 011003 011501 Nonoperating Refunds of State Revenues 860000 860004 Nonoperating Refunds of Non-State Revenues 860000 860005
All rental income received, whether for real or personal property, should use an 0210xx series object code and should not use a sales revenue object code. Rental transactions between departments on campus should be processed as an interdepartmental transfer.
Monies received by the University as a restitution for damages, thefts, etc. should be recorded with object code 012008. This object code should not be used for monies received from an insurance claim. These should be recorded with object codes 028001 or 028002.
In addition, due to new reporting requirements for Federal Funds, transfers of Federal monies should be recorded with the Federal transfer object codes listed below:
Title of Object Code New Object Federal Transfer from Other University Funds 015101 Federal Transfer from Other Agencies 015102 Federal Transfer to Other University Funds 811001 Federal Transfer to Other Agencies 811002 Federal Transfer to Organizations within the Same Fund 811010 Federal Transfer from Organizations within the Same Fund 811011
Please distribute this information to your staff who are responsible for processing these accounting transactions. If you have any questions concerning these changes, please contact Frank Green or me at 392-1321.