Fund Management

Establishing Banner Funds

Units are required to establish a Banner general ledger fund for each distinct service activity. One or more operating ledger program code(s) and/or activity code(s) may be established under each general ledger fund.

Units request a storeroom or service fund by completing and submitting the Banner Fund, Program, Index Code Request Form to University Accounting and Financial Reporting.

Fund Administration

Service Center Managers (or those holding similar positions) are responsible for:

• Working knowledge of service activity policies, regulations, and procedures necessary to run a service activity operation and compile compliant rate calculations.
• Exercising sound business practices necessary to run a breakeven service activity operation.
• Preparation of an annual budget.
• Preparation of year-end fact sheet Fact Sheet Requirements.
• User fees or markups must be calculated and documented bi-annually at the operating ledger (OL) level, with appropriate justification provided for any interim rate adjustments.
• Maintenance of current Banner Fixed Assets records of equipment used in service activities, in accordance with 12 Property Accounting.
• Review and reconciliation of monthly Banner financial statements.
• Physical inventory of merchandise for resale and any adjusting entries made to Banner in accordance with 5 Receivables.
• Timely billing is recommended on a monthly basis and must be supported by adequate documentation. All billings to sponsored projects are required to be processed monthly.
• Maintenance of records (See the Documentation Requirements section of this policy).

First Published: January 2019 | Last Updated: May 2026 | Last Reviewed: May 2026