Knowledge Base

How are a FOP and a FOAP different?

Category:  Finance

Question:  How are a FOP and a FOAP different?
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.
There are no comments for this article. Be the first to post a comment.
Related Articles
How do I find a an account code to use with an HSC FOP?
Viewed 312 times since Mon, Oct 13, 2008
After uploading IVs, the eprint report shows the document ID as unassigned yet the files show to be good - why would this be?
Viewed 277 times since Mon, Sep 29, 2008
What is the difference between transfer to Auxiliary and transfer to Auxiliary Plant?
Viewed 230 times since Mon, Aug 2, 2010
Please explain how Direct Cost is used.
Viewed 243 times since Wed, Dec 9, 2009
Where do I find the Budget Pool Account codes?
Viewed 342 times since Wed, Sep 17, 2008
How can I locate my Banner TechID R# ?
Viewed 268 times since Mon, Oct 13, 2008
How do you change or remove signature authority?
Viewed 313 times since Fri, Oct 24, 2008
When a financial manager changes will the authority delegated by the previous manager be deleted?
Viewed 220 times since Wed, May 6, 2009
What is an endowment?
Viewed 249 times since Mon, May 4, 2009
What is a rule class code?
Viewed 331 times since Sat, Nov 22, 2008