Business Affairs
Glossary
GlossaryGlossary
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- Rate Codes
- Rate codes are assigned to every student upon admission to the University, and may vary from term to term. They are an important element in determining the correct tuition and fee assessment. Initial assignment of the rate code generally reflects the residency and educational level of the student. A number of rate codes are later assigned by Business Affairs to effect special billing provisions, such as teaching assistants, study abroad, and national student exchanges.
- Real Property Improvements (Improvements Other Than Buildings)
- A fixed asset, which is a permanent improvement. Only improvements other than buildings, land or infrastructure assets that meet the capitalization policy should be included.
- Reasonable
- A cost may be considered reasonable if the nature of goods and services reflects prudent action. Generally, charges for good or services that foster or support the on going missions of the University are considered reasonable as long as they comply with the regulations by which the University is governed.
- Receipt
- Noun: A written acknowledgment that a sum of money or specified article has been received; the paper that provides the audit trail of the monies. The OSU Cash Receipts Record form.
Verb: To give or write a receipt for money paid or goods or services delivered; to account for the transfer of cash. - Record
- A collection of data fields that are stored and retrieved in the database as a single unit. Records represent a series of data units being entered or retrieved. A block containing records will allow you to scroll through them. A form will display a count of the records viewed in the form's bottom left corner.
- Reduction Of Expense
- Deposits made as a reduction of expense are very limited under Oregon Executive Department rules. It is used for the return of goods and services or a discount given from the vendor after the bill has been paid. In both instances, both the return and the discount are with the original vendor. If the vendor was overpaid and a refund is received, the refund is credited to the fund and account code to which the purchase was charged. It is not a reduction of expense when the University is reimbursed for an expense from someone other than the original vendor. In that case it is income and should be recorded as income by using income account codes (0xxxx). Contact Office of Business Affairs if there are questions about which type of account code to use.
Outside entities may reimburse the campus, pay a service provider directly, or reimburse an employee for travel expenses related to OUS business. If the reimbursement is made to the campus, it should be accounted for as a reduction of expense. See the OUS FASOM 11.01: Travel -- Administration for additional information.
Contact Office of Business Affairs if there are questions about which type of account code to use. - Refunds
- A repayment of expenditures that were overpaid or where we are otherwise entitled to receive money back from the vendor. This could be the result of:
* A conference registration payment where the conference is later cancelled.
* Return of a defective item that isn - Regional Travel
- Travel outside of Oregon but within 150 air miles of the Oregon border. This includes the following cities: Seattle, Tacoma, Olympia, Yakima, Spokane, Boise, Moscow, Missoula, Eureka, Redding, Winnemucca and Elko.
- Registration Fee
- This fee will allow Student Affairs to sustain the increased cost and demands for services related to the registration and enrollment of students (e.g., administering financial aid, academic records management), in addition to sustaining other services to support student success.
- Registration Holds
- To be eligible to register for a future term, the student's receivable balance must be below a predetermined amount that is published in the Schedule of Classes. That amount is determined by the Vice President of Finance and Administration in conjunction with the Registrar. A registration hold is placed on the student's account when the balance exceeds the maximum limit. If the student is not currently enrolled, his/her account must be paid in full in order to register.
- Regular Payroll
- The standard payroll used to process pay for OSU employees. Restore last sentence but replace "Checks are" with "Pay is"
- Rehabilitation
- A program established by Federal Regulations that allows delinquent and defaulted borrowers to reestablish all of their former rights and responsibilities, and clear negative credit bureau reporting.
This is done by making 12 consecutive on-time payments for the exact amount prescribed in the signed rehabilitation agreement. - Reimbursement for Employment Recruitment
- Pre-approved, limited travel expense reimbursement for recruitment interviews.
- Reimbursements
- These are reimbursements to OSU that can occur as a result of a staff member officially representing the University in the course of their job. It could also occur whenever an outside entity reimburses OSU, whatever the reason, for expenditures OSU has incurred. Examples include:
* If OSU receives funds because an employee has been a conference speaker, it should be accounted for as a reduction of expense. See FIS 102-08: Travel Paid by Outside Source. Also see FASOM 11.01 Travel Administration.
* If an employee is hired as a conference speaker, he/she is acting as a consultant, and the money is his/hers and OSU doesn - Reimbursements Involving Grant Funds
- * Only the Grant Proceeds and program income can be deposited into Grant Funds. No other revenue sources can go into these funds.
* If there is a reimbursement received related to a person paid from a grant, then a portion of that person - Renewal And Replacement Funds
- Used by service departments and auxiliary enterprises, these funds reflect resources set aside in accordance with OUS policy on a systematic basis to fund future equipment purchases and building repairs. Housing, Memorial Union, Printing and Mailing, and Student Health Service are examples of organizations that maintain such funds.
- Repayment - A Federal Perkins Loan
- The process of paying back a Federal Perkins to the Oregon State University Student Loan Office in monthly installments of principal and interest.
- Reserves
- An account which records a portion of the fund balance which is segregated for some future use and which is, therefore, not available for further appropriation of expenditures. Budgeted Reserves are moneys set aside for contingencies and are not yet allocated for expenditure. Reserves differ from renewal and replacement funds in that reserves are general fund monies and are for any contingency rather than just to fund future equipment purchases and building repairs.
- Resource Fees
- Certain colleges, departments and majors assess a resource fee of all of their students. Currently this list includes the College of Engineering, College of Business, Department of Art, Interdisciplinary Studies, School of Education, College of Pharmacy and the University Honors College. For a current listing of rates please see the Tuition Information page.
- Restricted Funds
- Used to identify resources that may be available for current operations, but that are to be used only for a specific purpose as directed by the donor, or the granting or contracting agency. Sponsored research, gifts for construction of a facility, or student aid are examples. Grants and contracts may be in operation for multiple years and these funds can be tracked on grants ledgers, screens in the financial system that are not limited to current fiscal year activity.
- Retirement Of Debt Funds
- Used to account for funds set aside and disbursed to retire debts incurred to finance the acquisition, construction, or renewal of capital assets.
- Revenue
- Proceeds from any activity sponsored by OSU, evidenced in part by the use of OSU letterhead, and/or using state resources such as employee time and effort, state facilities, state vehicles, etc., are deemed to be State of Oregon revenue and must be deposited into an OSU fund. An example would be proceeds from short course workshops and seminars.
- Roll-Up
- The ability in FIS to summarize data at various hierarchical levels, which allows you to query financial reports not only at the data-entry level, but also at higher levels that will combine the data as needed.