{"id":3697,"date":"2025-08-25T18:49:49","date_gmt":"2025-08-25T18:49:49","guid":{"rendered":"https:\/\/www.macalester.edu\/160-business-services\/?page_id=3697"},"modified":"2025-08-25T18:49:56","modified_gmt":"2025-08-25T18:49:56","slug":"financefoundationslesson2","status":"publish","type":"page","link":"https:\/\/www.macalester.edu\/business-services\/financefoundationslesson2\/","title":{"rendered":"Finance Foundations &#8211; Lesson 2"},"content":{"rendered":"<h2 class=\"wp-block-heading\">Accounting Basics at Macalester<\/h2>\n\n\n\n<p><strong>In this lesson you will learn:&nbsp;<\/strong><\/p>\n\n\n\n<p>The basic concepts of the transaction tracking at Macalester including the types of operating budgets and specified funds.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">What is an operating\/program budget<\/span>\n<ul class=\"wp-block-list\">\n<li>Departments are allocated a budget by Senior Leadership each fiscal year (June 1st &#8211; May 31st).\u00a0 This budget must be monitored by department staff with the goal of spending less than the budget.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>What is a TEM budget\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">TEM &#8211; technology, equipment, maintenance<\/span>\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">TEM funding is for one-time purchases of more than $1,000 and Facilities Services requests of more than $5,000.\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">Facilities Services requests under $5,000 should be submitted directly to Facilities using a work order.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Restricted funds, Designated funds, and Endowed Spend funds\n<ul class=\"wp-block-list\">\n<li>These funds have been created for a variety of circumstances, including, but not limited to donor gifts, special projects, scholarships.\u00a0 \u00a0These funds have rules on how the funds can be spent.\u00a0 For questions, please contact <a class=\"email\" href=\"mailto:accounting@macalester.edu\">Accounting@macalester.edu.<\/a><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Grant Funds\n<ul class=\"wp-block-list\">\n<li>Specified funds that have been award to Macalester for specific grant work.\u00a0 \u00a0For questions, please contact <a class=\"email\" href=\"mailto:grantsaccounting@macalester.edu\">GrantsAccounting@macalester.edu.<\/a><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Faculty funds\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">Faculty Travel and Research (FTR) is administered by <a class=\"more\" href=\"https:\/\/www.macalester.edu\/academicprograms\/facultyfunding\/\">Academic Programs and Advising<\/a>\u00a0<\/span><\/li>\n\n\n\n<li>Start up funds for Faculty are <span style=\"font-weight: 400\">administered by <a class=\"more\" href=\"https:\/\/www.macalester.edu\/academicprograms\/facultyfunding\/\">Academic Programs and Advising<\/a>\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Tips for FOAPAL syntax:\n<ul class=\"wp-block-list\">\n<li>Operating \/ program budgets are always fund 100000 + ORG<\/li>\n\n\n\n<li>TEM budgets are always fund 125000 + ORG<\/li>\n\n\n\n<li>Grant, Endowed Spend, Designated and Restricted funds can start with a 2 or other numbers + ORG<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p>Go to <a class=\"more\" href=\"https:\/\/www.macalester.edu\/business-services\/financefoundations\/\">Finance Foundations at Macalester<\/a> to find additional lessons.<\/p>","protected":false},"excerpt":{"rendered":"<p>Accounting Basics at Macalester In this lesson you will learn:&nbsp; The basic concepts of the transaction tracking at Macalester including the types of operating budgets and specified funds. &nbsp; Go to Finance Foundations at Macalester to find additional lessons.<\/p>","protected":false},"author":44,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-3697","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages\/3697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/comments?post=3697"}],"version-history":[{"count":28,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages\/3697\/revisions"}],"predecessor-version":[{"id":8609,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages\/3697\/revisions\/8609"}],"wp:attachment":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/media?parent=3697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}