Faculty Funds

Project

Faculty funds were a subset of designated funds in Banner.  Many faculty designated funds become one project in IO.

Faculty funds do not include gift or endowment funds, because PPM does not have the ability to record revenue.  If your faculty member should have the ability to spend from a gift or endowment fund, that can be done at the general leger level OR you can transfer the money at the general ledger level using a fund balance transfer (Adobe Sign process from Budget Office, not yet available as of July 2021) and increase the budget in PPM for the faculty project.

Task

Each faculty member has one and only one faculty project.  The project has multiple tasks.  The tasks pre-established for your convenience are:

1                            Start-up

2                           Discretionary

2.1                          Discretionary Research

2.2                          Discretionary Instruction

3                      Non-sponsored Research

4                      Retention

The tasks do not necessarily represent individual designated funds.  Generally, while a faculty member has only one start-up fund, he/she/they may have many discretionary funds.  All of the discretionary funds are combined in task 2.  When coding transactions, you must choose whether the spending is focused on research activity (2.1) or instructional activity (2.2).  This choice will determine the classification.

Going forward, the project manager (generally the department administrator) has the option to create additional tasks in the project.