Chart of AccountsDepartment ComponentLength - 4 characters Segment Definition The Department segment holds the identifying values for the lowest summary level of the financial organisational structure where there is a management imperative to aggregate and report revenues and expenses. The term 'Department' is the preferred term in Academic Faculties and Non-Academic Divisions, but in some cases other terms may also be applied to business units in this segment. Segment Rationale The purpose of the Department segment is to capture financial information at the relevant summary level that fits in with the financial organisational structure of the University. The Department segment allows separate summary Department level reports to be produced. Departments are the basic units of the financial organisational structure, which are combined to make up higher level cost centres. Active Selection Codes 1. Level 3 Roll-ups (Reporting) Departments can be reported on an individual basis or can be rolled up with other department codes. Example:
Level 3 Roll-up:
Department 0005 is not an active Department in the chart and therefore cannot be coded against. However, reporting on Department 0005 is possible. In the example above. the report will add Departments 0001 - 0004 together to display the $400 total. 2. Overheads (Y/N) This selection code facilitates the automated reporting of 'Overhead' funds as defined by Department of Education, Science and Training (DEST) and required to be separately budgeted and reported. This means that 'overhead budget' transactions effectively need to be aggregated into cost centres at the required subsidiary level. A selection code against these cost centres will define whether it is an overhead cost centre or not, enabling relevant reports to be generated. 3. Campus This selection code facilitates the automated reporting of costs that are directly and completely attributable to a particular campus - Rockingham, Peel or South Street (Murdoch). 4. Responsible Person This selection code sets out the staff member responsible for the cost centre, by reference to their staff or student number and name in the format; A.Person. The person is the point of reference for all account and finance related enquiries and is responsible for the accuracy and compliance to University policies of all financial transactions and projects relating to the cost centre. Choice of responsible person is a decision for Cost Centre manager. Notes Requests for setting up a new Department should be directed to P.Anderson@murdoch.edu.au and submitting this form.
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