Knowledge Base

How are a FOP and a FOAP different?

Category:  Finance

Question:  How are a FOP and a FOAP different?
 
Answer:
A FOP refers to the three codes (Fund, Organization and Program) that identify a budget.  The three codes are combined to become one identifier for the budget:
  • F - Fund identifies the cash (like a checking account) that the budget operates out of, and is coded to separate various providers (state, donors, research, etc) and their guidelines for revenues and expenditures.
  • O - Organization is the code for the department or business activity and identifies the budget financial manager with signature authority for the Organization.
  • P - Program is a classification to identify how the budget supports the mission statement (instruction, research, public service, support, etc)
When transactions add to (revenue) or deduct from (expense) the budget, they must include an A - Account code that identifies the transaction as well as the budget being updated.  Thus a transaction requires the FOP codes and an A code, and the order of entry on the transaction is FOAP.
 
 
To learn more:  Attend the Financial Management 101: Introduction to the FOAP Codes training class to learn more about the financial terms and business practices of Texas Tech.  This class is a pre-requisite for Budget, Procurement, and Cognos Reporting classes that assist you in the performance of your job duties.
 
Submitted by:  Byron Anderson
Attached Files
There are no attachments for this article.
Comments
There are no comments for this article. Be the first to post a comment.
Name
Email
Related Articles
Can I pay for phone charges on my federal FOP?
Viewed 243 times since Tue, Sep 23, 2008
Who do I contact regarding a Finance transaction that posted to my FOP?
Viewed 242 times since Thu, Oct 9, 2008
Please explain how Direct Cost is used.
Viewed 194 times since Wed, Dec 9, 2009
How can I locate my Banner TechID R# ?
Viewed 222 times since Mon, Oct 13, 2008
Where can I find information on proper use of funds within a Fund Group, Category or Class?
Viewed 418 times since Tue, Jul 29, 2008
How do I change or update a Financial Manager?
Viewed 290 times since Wed, May 6, 2009
What is an endowment?
Viewed 204 times since Mon, May 4, 2009
What is a rule class code?
Viewed 268 times since Sat, Nov 22, 2008
When a financial manager changes will the authority delegated by the previous manager be deleted?
Viewed 176 times since Wed, May 6, 2009
After uploading IVs, the eprint report shows the document ID as unassigned yet the files show to be good - why would this be?
Viewed 219 times since Mon, Sep 29, 2008
MENU