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Recharge Operation Accounting Protocol

Table of Contents

I. Definition
   
II. Purpose of this Protocol
   
III. Operating Accounts
A. Subsidiary Ledger 2
1. Expenditure Subaccounts
  a. Cost of Goods Sold
    i. Goods Purchased for Resale
    ii. Goods Manufactured for Resale
 
b.
 Personnel Costs, Services, Supplies, Travel, Leases & Rental, Occupancy & Maintenance Charges
  c. Depreciation
  d. University Administration & Divisional/Departmental Overhead Charges
  e. Equipment, Construction/Renovation & Property Acquisition
  f. Equipment Renewal & Replacement Reserve Transfers
  g. Unallowable Costs
2. Revenue Subaccounts
  a. Revenue from Interdepartmental Order Forms (Form 62)
  b. Cash Revenue from External Sources
  c. Bad Debt Expense Funding
  d. Deficit Funding
  e. Unallowable Cost Funding
B. General Ledger 0 (for Subsidiary Ledger 2)
1. Assets
  a.

Receivables from Sales to Third Parties
  b. Inventories
    i. Goods Purchased for Resale
    ii. Goods Manufactured for Resale
  c. Prepaid Expenses
2. Liabilities
  a.

Accounts Payable to Vendors
  b. Accrued Expenses
3. Fund Balance
   
IV. Equipment Purchases and Renovation Expenditures
A. Subsidiary Ledger 8 Account (Plant Fund Expenditure Account)
1. Equipment Purchases
2. Construction/Renovation Expenditures
B. Plant Fund Ledger 0-8 Account
1. Internal Loans
2. Depreciation Transfers to Finance Plant Fund Expenditures
3. Fund Position
   
V. Rates
A. Consumption/Output Method
B.. Cost of Sales Method
   
VI. Depreciation Methods
   
VII. Budgeting
A. Continuing Recharge Operation
B.. New Recharge Operation
   
VIII. Billing Users
   
IX. Supporting Documentation and Record Retention
   
X. Appendices
A. Appendix A: The University of Chicago, Financial Policy No. 1005: Recharge Operations
B.. Appendix B: Government Audit Objectives When Reviewing University Recharge Operations
C. Appendix C-1: Budget Worksheet with Instructions
D. Appendix C-2: Mark-up Method Rate Worksheet
E. Appendix C-3: Price Per Hour Rate Worksheet with Instructions
F. Appendix C-4: Machine Hour Rate Worksheet with Instructions
G. Appendix D: Recharge Operation Accounts Receivable Accounting Protocol
H. Appendix E: Recharge Operation Equipment & Renovation Expenditure Accounting Protocol
I. Appendix F-1: Merchandising Inventory Accounting Protocol
J. Appendix F-2: Manufacturing Inventory Accounting Protocol
K. Appendix G: Recharge Operation Glossary

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