ALL A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
  • Fiduciary

    The obligation arising from a position of authority to act on behalf of another (as in managing the University's operations) where one assumes a duty to act in good faith and with care, candor, and loyalty.
  • Finance system

    The University's official financial records, used to record all University fiscal transactions and prepare the University's financial statements.
  • Finance system users

    Employees or affiliate fiscal staff who have access to the university's Finance System.

  • Financial report review process

    As required by the Administrative Policy Statement Fiscal Roles and Responsibilities, policies and procedures that result in the routine review of financial information. This is a key control to ensure all fiscal transactions are properly recorded in the Finance System and to detect fiscal misconduct. The fundamental components of this process include: • Detailed review of fiscal transactions, including a reconciliation of each individual transaction appearing on the financial report to the related source documentation; • Periodic analysis of planned fiscal activity or budget in relation to actual fiscal activity; • Comparison and analysis of prior year financial activity to current year financial activity where appropriate. Procedures always include taking appropriate investigative and remedial action.
  • Financial reporting entity

    As defined by generally accepted accounting principles, the University plus all organizations that meet the following criteria: 1. organizations for which the University is financially accountable (equivalent to control by the University as an entity or its Regents or Officers); 2. a legally separate, tax-exempt organization: whose economic resources are entirely or almost entirely for the direct benefit of the University's financial reporting entity or its constituents, where the University has the ability to access (broader than control and is demonstrated by the ability not the occurrence in a given year) a majority of its economic resources, and such economic resources are Material to the University; 3. organizations for which the nature and significance is such that exclusion would be misleading to the University's financial statements; or 4. organizations closely related to or financially integrated with the University as exhibited through policies, practices or organizational documents of either entity.

  • Fiscal managers

    As defined in the Administrative Policy Statement Fiscal Roles and Responsibilities, the key employee in the Organizational Unit with the authority and responsibility for its fiscal transactions.

  • Fiscal misconduct

    As defined and illustrated in the Administrative Policy Statement Fiscal Misconduct Reporting, deliberate acts or failure to act regarding fiscal matters, contrary to established law, rule or policy, with the intent to obtain an unauthorized benefit, which results in a loss or other damage to the University.

  • Fiscal principals

    As defined in Administrative Policy Statement Fiscal Roles and Responsibilities, Chairs, Directors and Principal Investigators (or equivalent titles) as the result of their assigned fiscal responsibility.

  • Fiscal role

    The categorization of Employees to indicate their fiscal responsibilities to the University as defined in Administrative Policy Statement Fiscal Roles and Responsibilities. Categories include Officers, Fiscal Principals, Fiscal Managers and Fiscal Staff.

  • Fiscal staff

    As defined in Administrative Policy Statement Fiscal Roles and Responsibilities, Employees (other than Fiscal Managers, Fiscal Principals, and Officers) of the University involved in University fiscal transactions, such as initiating purchases, receiving cash or other negotiables, entering or reviewing transactions into the University's Finance System, monitoring contractors, verifying compliance.

  • Fiscal transactions

    Financial transactions occur within numerous University functions including Accounting, Human Resources, Payroll and Benefits, Procurement and Student Services. EXAMPLES OF FISCAL TRANSACTIONS Function/Transaction • Accounting o Asset Transfers/Disposition o Cash Transfer o Journal Entry (JE) o Interdepartmental Invoice/Order • Human Resources, Payroll and Benefits o Create or Modify Position (Employment Management) o One Time Payment (Payroll) o Payroll Expense Transfer (PET) o Payroll Funding Distribution o Time Collection Entry • Procurement (Purchasing, Payables or Travel) o Cash Advance o Departmental Purchase Order o International Travel Meal Diary Form o Official Function Form o Petty Cash o Procurement Card Allocation o Procurement Card Purchase o Payment (Expense) Voucher o Purchase Requisition o Standing Purchase Order Renewal/Requisition o Travel Authorization/Advance o Travel Voucher o Unavailable Documentation • Student Services / Bursar o Cash Receipt o Financial Aid Award o Tuition and Fee Charge o Tuition Waiver
  • FOPPS

    An acronym (Fund, Organization, Program, Project, Subclass) commonly referred to as a SpeedType. These terms represent an accounting cost center in the Finance System (or subsystems), that is, they identify where financial activity occurs.
  • Formal credit relationship

    One between an individual and the University where a credit application results in the extension of credit through promissory note or equivalent instrument.
  • Fraud

    Includes certain illegal acts; misstatements arising from fraudulent financial reporting; and misstatements arising from misappropriation of assets. Fraudulent illegal acts are characterized by deceit, concealment, or violation of trust and perpetrated to obtain money, property or services; to avoid payment or loss of services; or to secure personal or business advantage. Misstatements arising from fraudulent financial reporting are intentional misstatements or omissions of amounts or disclosures in financial statements to deceive financial statement users. Misstatements arising from misappropriation of assets involve the theft of an entity's assets.
  • Functional area of responsibility

    A group of related business objectives, processes and entities for which an Officer has oversight by virtue of her/his position that have the following characteristics: organizational permanency and programmatic autonomy.
  • Fundraising

    The act or activity of soliciting and collecting gift revenue benefiting the University. Examples of fundraising activities include the collection of gifts or money through: contributions or donations, sale or auction of merchandise or services, collection of registration or sponsorship fees, imposition of admission charges or registration fees, and/or membership fees.
  • Fundraising agent

    An other individual who volunteers to conduct a fundraising event for an organizational unit. By conduct, this individual is planning and administering a fundraising event, including collecting monies, on direct behalf of the University. This is in contrast to (and does not include) an organization that is affiliated with the University conducting its own event, the proceeds of which are intended to benefit the University.
  • Fundraising campaign

    Organized effort to solicit gifts and grants for any universitypurpose from multiple private sources such as individuals, firms, corporations, groups, and/or foundations. A fundraising campaign is markedly different than ordinary campus-sponsored fundraising events in that a campaign has a specific goal of money to be raised within a longer fixed period of time, generally one (1) to three (3) years. Normally, campaigns are restricted to raising substantial amounts of money needed for construction of new buildings, endowments, major renovations, and other large projects. Such campaigns depend upon reaching out to the larger community beyond the circle of existing donors, and their success or failure directly affects the University's reputation as a whole and the University's ability to raise money for other needed programs. Consequently, any organizational unit wishing to conduct a fundraising campaign must develop a formal plan in conjunction with the University of Colorado Foundation.
  • Fundraising event

    An event at which a required monetary payment to attend or participate includes both a gift component (charitable contribution) and a non-gift component (goods and/or services are provided or available to the attendees, sponsors, or donors). A fundraising event will most often be completed in a single day; however, the event may consist of a multi-day, singularly identifiable event, such as a trip or cultural celebration weekend. This type of event differs from a conference in that some portion of the attendees' payment is intended to be tax deductible. Examples of fundraising events include the collection of gifts or money through sale or auction of merchandise or services, collection of registration or sponsorship fees with a promise of a tax deduction, imposition of admission charges or registration fees with a promise of a tax deduction, and/or membership fees.