Glossary | Business Affairs

Glossary

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OCONUS (Outside The Continental United States) Travel: OCONUS travel comprises travel in Alaska, Hawaii, Puerto Rico and U.S. Possessions. When traveling to Alaska and Hawaii, use out-of-state account codes. When traveling to Puerto Rico and U.S. Possessions, use foreign account codes.
Office Of Management And Budget (OMB): A regulatory arm of the executive office of the President of the United States. Federal grants and cooperative agreements are regulated by several OMB Circulars [A-21, A-110, A-133]. Guidance for preparation of F&A rate proposal included in (A-21). http://www.whitehouse.gov/omb/
Official Station: The city, town or other location to which an employee is assigned.
On-Line: Things that are immediately accessible on-screen to logged-in users, such as the Fiscal Operations Handbook.
One-Time Vendors Payment System: One-time vendors are refunds of workshop registrations/workshops that have been cancelled that have been paid, and parking citations that have been appealed and reduced. Basically, it is revenue paid to OSU that is being refunded, and not used for the purpose paid.

Qualifications for one-time vendors:
* Vendor is NOT already set up as a vendor in Banner.
* Vendor is NOT a company or a business.
* Vendor is not an employee.
* Refund amount of $500 or less
* The payment cannot be considered an expense to the University.
* Refunds must be the full amount of the original payment made to the University. If any part of the refund is retained by OSU as a processing/handling fee, then the payment does not qualify as a one-time vendor. Payment should be made through normal means.

Parking citations and refunded Key deposits are considered one-time vendor payments.
Online W-2: Web-based W-2 Wage and Tax Statement that is viewable and printable at OSU Online Services.
OPE (Other Payroll Expense): Other payroll expenses (fringe benefits). These include retirement, Medicare, FICA, and benefit contributions.
Operating Lease: A fixed-term rental agreement. The Purchasing Agents/Contract Officers in PACC are responsible for evaluating leases to determine the appropriate classification. See also Capital Lease.
Operating Ledger (OPAL): The financial record of the day-to-day business (revenue, expenditures and transfers) of the University over a given time period, by fiscal year.
Operation And Maintenance Of Physical Plant: Expenses, which have been incurred for the administration, supervision, operation, maintenance, preservation, and protection of the University's physical plant (buildings, grounds, and equipment).
Oregon Administrative Rules (OAR): Agency rules adopted under the Oregon Administrative Procedures Act.
Oregon Revised Statutes (ORS): Statutes of the State of Oregon.See Oregon Revised Statutes.
Oregon State University Institutional Loans: The OSU Financial Aid Office awards OSU Institutional Loans to qualified students. The OSU Student Loan Office in Business Affairs is responsible for the disbursement of the funds that have been awarded. See the Financial Aid & Scholarship website for information on Financial Aid
Oregon University System (OUS): The Oregon University System is comprised of seven four-year public universities.

The system offers educational opportunities to Oregonians and students from around the world. http://www.ous.edu/ OUS Institutions:

Eastern Oregon University, Oregon Institute of Technology, Oregon State University, Portland State University, Southern Oregon University, University of Oregon, Western Oregon University and Oregon Health & Science University
(OUS affiliate).
Organization Code (Org): The second element of FOAPAL identifies the budgetary unit within the University responsible for the budget, such as a department.
Organizational Prior Approval System (OPAS): OSU
Organized Storeroom Inventory: A segregated and controlled store of expendable property that will eventually be distributed to users outside the department. Requires a separate inventory reserve balance.
OSCAR: Acronym for Oregon State Central Administrative Resource, which is a secured access to online tasks with fill-in forms and step-by-step instructions.
Other Institutional Activities: Other activities of the University (auxiliaries and service departments), which are in the University's financial statements.
Other Sponsored Activities: Programs and topics separately funded by Federal and non-Federal agencies and organizations, which involve the performance of work other than, sponsored, basic or applied research.
Out-Of-State Travel: Travel from within Oregon to a destination outside of Oregon, but within the Continental United States; and return to official station.
Out-of-state Travel Restriction: Currently, all out-of-state travels on general funds are restricted to only certain travels and require designated approving authority of each unit.
Outstanding Balance: Total amount of account balances at any given time.
Overdrafts: A deficit fund balance as determined after considering recorded receivables and outstanding payables. Any deficit as of June 30th must be eliminated by transferring funds from other Current General Funds. See Year End Closing instructions for correct account codes to use to eliminate overdrafts.