USMF Business Services Help Desk

Account Types

Accounts generally are classified as Operating or Endowment Accounts. Operating accounts, also known as Current Use accounts, are invested separately from Endowment accounts. Funds in operating accounts are available for current use . Endowment accounts are established by donors to exist in perpetuity with annual spending determined by the donor’s wishes or governed by USMF’s spending policy.

Quasi-endowments are accounts invested as an endowment, but funds are earmarked as the terms of the endowment’s principal can be spent at any time like an Operating account.

For system tracking purposes account types are classified by their numbering scheme as follows:

XX in the first two characters represent the institution

XX-2xxxx              Current Use program and faculty support accounts 

XX-3xxxx              Current Use Scholarship accounts

XX-4xxxx              Endowment accounts

XX-44xxx              Quasi-endowment accounts 

XX-50xxx              Current Use research accounts

XX-55xxx              Grant Accounts

XX-6xxxx              Special program or event accounts