Higher Education and University Hospital Funds are used to account for all transactions relating to public institutions of higher education including a teaching hospital and affiliated organization. Higher Education institutions include five universities and twelve community-technical colleges. The following university and college funds and affiliated organization are used:
Current Unrestricted Fund:
accounts for currently expendable resources which may be
either designated or not designated by the colleges and
universities for specific purposes.
Current Restricted Fund:
accounts for resources restricted by the donor or external
agency for a specific use or program.
Hospital Funds:
accounts for revenues and expenditures relating to the
operation of the John Dempsey Hospital and the Dental
Clinics.
Loan Funds:
accounts for loans made to assist students in the financing
of their education.
Endowment Funds:
accounts for resources which are restricted by the gift
instruments requiring that the principal be invested and
only the income be expended.
Agency Funds:
accounts for amounts held in custody for students,
university-related organizations, and others.
Plant Funds:
accounts for activities relating to institutional properties.
These activities include funds used for the acquisition,
renewal, and replacement of institutional properties, funds
set aside for debt service requirements of institutional
properties, and funds invested in institutional properties.
Affiliated Organization:
accounts for the financial activities of the University of
Connecticut Foundation, Inc., a component unit of the
University of Connecticut.
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