Glossary | Business Affairs

Glossary

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General Ledger: A balance sheet made up of Asset, Liability, Fund Balance, and Control Accounts.
Gift: The receipt of cash or other resources from a donor with no expectation of anything in return. A gift may be unrestricted or restricted as to use.
Government Acquired Property: Property that is purchased by the University using federal grant funds. The grant agreement indicates which entity, the University or the Federal Government, retains title to the property.
Government Furnished Property: Property loaned to the University by a Federal Agency, for use with a specific research grant or contract. Typically, title is retained by the agency.
Governmental Accounting Standards Board (GASB): OSU is subject to financial reporting requirements of GASB 34; 35 For additional information see Fiscal Operations Handbook section 607 or for full details. View the OUS website http://www.ous.edu/admin_home.html.
Grace Period: The interval between graduation or the termination of at least half-time studies and the beginning of loan repayment. The grace period on a Federal Perkins Loan is nine months. During this time, payments need not be made and interest will not accrue. When the grace period expires, principal and interest will begin to accrue and the first payment will be due one month later.
Graduate Research Assistants (GRA): Research assistants provide duties related to the research function of the University. Graduate research assistants on .49 FTE appointments are expected to perform 255 hours of duties during the 13-week term (at least .20 FTE is required to be on this appointment). Graduate research assistants at other FTE levels are expected to provide proportional levels of service. They are also required to enroll for 12 hours of course work. Students meeting the requirements do not pay the instruction fee portion of tuition, but do pay the mandatory enrollment fees. Since research assistants ordinarily use research under their appointment as part of a thesis, the responsibility for determining work for which they are paid salary and work for their thesis rests with the sponsoring department. Fee remissions are assessed at resident rates and are charged to the index that pays the GRA stipend, unless the index is associated with a sponsored agreement where the sponsor does not authorize this cost in their policy. In that case, the fee remission is cost shared by the University.
Graduate Teaching Assistants (GTA): Graduate teaching assistants are expected to provide duties related to the university's instructional program (e.g., teaching laboratories or discussion sections, grading papers, advising). Graduate Teaching Assistants are required to enroll for 12 hours of course work, and work at least .20 FTE, but no more than .49 FTE. Students meeting the requirements do not pay the instruction fee portion of tuition, but do pay the mandatory enrollment fees. Fee remissions are assessed at resident rates and are charged to the index that pays the GTA stipend.
Grant: An instrument of commitment from an outside source for a project. Resources provided by a unilateral agreement signed by the grantor and issued to a grant recipient or grantee. Expenditures are governed by general rules covering all agreements issued by the grantor. The agreement also includes the grantee's obligation to use the resources for the purposes stated in the grant and subject to the conditions of the grant. See Grant, Contract, and Gift Accounting Policy & Procedure Manual.
Grant Ledger (FRIGITD): Grants and contracts may be in operation for multiple years. These funds are tracked on Banner grant ledger screens in the financial system, which are not limited to current fiscal year activity only.
Gurfeed: An electronic transfer of data from independent cost accounting systems (Printing and Mailing, Facilities Services, Transportation Services, Chemistry Stores) to transfer data into Banner/FIS. An interface process is completed from the source location to FIS, and the documents post to the identified indexes.