THE UNIVERSITY OF TEXAS AT AUSTIN
LAPSING POLICY BY FUND FOR FISCAL YEAR END BALANCES
Fiscal Year Ending (FYE) August 31, 2005
   
  FUND GROUP/ACCOUNT TYPE  FYE 04-05 POLICY 
   
       
  DEFAULT POLICY
Educational & General (E&G) and AUF (14 & 20 Accounts)   Lapse all fiscal year end balances centrally unless exception noted below.
   
  EXCEPTIONS
  E&G - Academic Development (-52 subaccounts)   Carry forward all balances, but monitor accounts and uses.  At fiscal year end, all excessive balances would need to be justified, along with a planned spending timeline and budget.  If appropriate, the funds could be lapsed to a central dean's account for reallocation, based on priorities, with UBC approval.  This balance and use information will be analyzed as possible sources of funds for new programs and initiatives, prior to providing central sources for these purposes.
   
  E&G - Advanced Research (14-97xx Accounts)   Carry forward all balances.  These funds are pass through funds from THECB and are restricted.  At the end of the two year period, unencumbered funds are to be lapsed back to THECB.
   
  E&G - Faculty and Teaching Assistants (-01, -02, -03, -04, -96, -97, -98, -99 Subaccounts)   Lapse fiscal year end balances centrally and return one half of these balances to the deans as excellence funding.
   
  E&G - Indirect Cost Return - Research Support and Development (14-748x and 20-748x accounts and -08 subaccounts)   Carry forward all balances, but monitor accounts and uses.  At fiscal year end, all excessive balances would need to be justified, along with a planned spending timeline and budget.  If appropriate, the funds could be lapsed to a central dean or vice president's account for reallocation, based on priorities, with UBC approval.  This balance and use information will be analyzed as possible sources of funds for new research-related programs and initiatives, prior to providing central sources for these purposes.
   
  E&G - Repair and Remodeling Projects (14-8645, 14-8648, 14-8649, 14-9000 Accounts)   Carry forward all balances for a two year period.  At the end of two years, lapse back to central or departmental funding account, unless the project is still ongoing and there is justification for carrying the funds forward.
   
  E&G - Scholarships (-70 and -71 subaccounts)   Carry forward all balances, but monitor accounts and uses.  At fiscal year end, all excessive balances would need to be justified, along with a planned spending timeline and budget.  If appropriate, the funds could be lapsed to a central dean or vice president's account for reallocation, based on priorities, with UBC approval.  This balance and use information will be analyzed as possible sources of funds for new programs and initiatives, prior to providing central sources for these purposes.
   
  E&G - Deans' Special Reserves (-07 subaccounts and Deans' Excellence funds)   Carry forward all balances, but monitor accounts and uses.  At fiscal year end, all excessive balances would need to be justified, along with a planned spending timeline and budget.  This balance and use information will be analyzed as possible sources of funds for new programs and initiatives, prior to providing central sources for these purposes.
   
  E&G - Special Equipment (-80  subaccounts)   Carry forward all balances, but monitor accounts and uses.  At fiscal year end, all excessive balances would need to be justified, along with a planned spending timeline and budget.  If appropriate, the funds could be lapsed to a central dean or vice president's account for reallocation, based on priorities, with UBC approval.  This balance and use information will be analyzed as possible sources of funds for new programs and initiatives, prior to providing central sources for these purposes.
   
  E&G - Start-up Funds (-56, -57, and -58 subaccounts)   Carry forward all balances, but monitor accounts and uses.  At fiscal year end, all excessive balances would need to be justified, along with a planned spending timeline and budget.  If appropriate, the funds could be lapsed to a central dean or vice president's account for reallocation, based on priorities, with UBC approval.  This balance and use information will be analyzed as possible sources of funds for new programs and initiatives, prior to providing central sources for these purposes.
   
  E&G - Visiting Lecturers (-60 subaccounts)   Carry forward all balances, but monitor accounts and uses.  At fiscal year end, all excessive balances would need to be justified, along with a planned spending timeline and budget.  If appropriate, the funds could be lapsed to a central dean's account for reallocation, based on priorities, with UBC approval.  This balance and use information will be analyzed as possible sources of funds for new programs and initiatives, prior to providing central sources for these purposes.
       
  DEFAULT POLICY
Service and Revolving Funds - (18 Accounts)   Since most service centers charge federal awards or accounts that are included in the university's federal F&A (indirect) cost rate, federal guidelines must be considered. All transfers to Reserves (18 or 36 accounts) should be reviewed by the Office of Accounting. No transfers to accounts that are unrelated to the service center will be allowed. Excessive balances (more than a two or three month operating reserve plus documented possible repair and replacement funding for the combination of reserve accounts and operating accounts) would require a review and possible reduction of the rate charged.  Balance and use information will be analyzed as possible sources of funds for new related programs and initiatives, prior to providing central sources for these purposes.
       
  DEFAULT POLICY
Designated Funds - (19 Accounts)   Carry forward all balances, but monitor accounts and uses.  At fiscal year end, all excessive balances would need to be justified, along with a planned spending timeline and budget.  If appropriate, the funds could be lapsed to a central dean or vice president's account for reallocation, based on priorities, with UBC approval.  This balance and use information will be analyzed as possible sources of funds for new programs and initiatives, prior to providing central sources for these purposes.
   
  EXCEPTIONS
  Designated Funds - (19 Accounts) - Student Activity Accounts   Student activity accounts must be used to provide materials or services specifically for the purpose assessed.  These accounts cannot be used for other unrelated purposes.  Semi-annually, colleges and departments will be requested to provide justification for all balances, along with a planned spending timeline and budget.  Decisions would be made at that time by the appropriate student budget committee and/or the Provost office, if excessive balances might result in the lowering of certain flat rate budget allocations for student activity purposes.  
   
  Designated Funds - (19 Accounts)  Accounts funded from transfers from Central Sources (i.e. Interest, Administrative fee, Designated Tuition, etc)   Lapse fiscal year end balances to the original central source.
   
  Designated Funds - (19 Accounts)  Scholarship accounts funded from transfers from Central Sources (i.e. Interest, Administrative fee, Designated Tuition, Academic Sustainability Tuition (AST), etc)  This does not include Student Activity Accounts.   Carry forward all balances, but monitor accounts and uses.  At fiscal year end, all excessive balances would need to be justified, along with a planned spending timeline and budget.  If appropriate, the funds could be lapsed to a central dean or vice president's account for reallocation, based on priorities.  This balance and use information will be analyzed as possible sources of funds for new programs and initiatives, prior to providing central sources for these purposes.
   
  Designated Funds - (19 Accounts)  Endowment Compliance Fee Accounts   Unspent endowment compliance fee balances will be lapsed to a central pool managed by the central development operation.  This pool will be managed by the University’s Director of Endowment Compliance with oversight by the Vice President for Resource Development.   The Director of Endowment Compliance is instructed to redeploy the monies toward specific endowment compliance activities at the college level that are believed necessary.  Colleges and departments are permitted to apply for an allocation of monies from the central pool for specific endowment compliance needs.  The Director of Endowment Compliance is responsible for assessing the merits of the request and determining what, if any, allocation is made. 
       
  DEFAULT POLICY
Auxiliary Funds (29 Accounts)   Carry forward all balances in the same account
   
  EXCEPTIONS
  Auxiliary Funds (29 Accounts) - Accounts funded from transfers from Central Sources (i.e. Interest, Administrative fee, etc)  This does not include Student Activity Accounts.   Lapse fiscal year end balances to the original central source.
   
  Auxiliary Funds - (29 Accounts) - Student Activity Accounts   Student activity accounts must be used to provide materials or services specifically for the purpose assessed.  These accounts cannot be used for other unrelated purposes.  Semi-annually, colleges and departments will be requested to provide justification for all balances, along with a planned spending timeline and budget.  Decisions would be made at that time by the appropriate student budget committee and/or the Provost office, if excessive balances might result in the lowering of certain flat rate budget allocations for student activity purposes.  
       
  DEFAULT POLICY
Contract & Grant Funds (26 Accounts)   Carry forward all balances in the same account, Contracts and Grants monitors and closes accounts based on contract guidelines.
       
  DEFAULT POLICY
Restricted Funds (30 Accounts)   Carry forward all balances in the same account.  The restrictions of each account should be documented.  This balance and use information will be analyzed as possible sources of funds for new programs and initiatives, and support for on-going departmental activities, prior to providing central sources for these purposes.   Refer to the Quasi-Endowment Policy for alternative investment options for restricted fund balances (add website if available).
   
  Restricted Funds (30 Accounts) - Accounts funded from transfers from Central Sources (i.e. Interest, etc)   Lapse fiscal year end balances to the original central source.
       
  DEFAULT POLICY
Plant Funds (36 Accounts)   Plant funds are reviewed throughout the fiscal year on a project by project basis.  Balances will be carried forward or lapsed at the end of a fiscal year based on the project status.