External Organization Activities |
Liability |
2005 |
This object code is used to represent external orgs (EO) funds held by Cornell. These funds are not owned or controlled by Cornell. Use: Student organizations, tax exempt orgs with 501 (c)(3) status. i.e. enhance the student learning experience or promote research activities at Cornell. |
SHP IBNR |
Liability |
2218 |
Use to record claims incurred but not yet reported for student health plan use only |
Deferred Comp |
Liability |
2220 |
Earned income that is payable at a later date and taxed at some point in the future. Use: Retirement plans, pension plans and stock-option plans. |
Deferred Benefits - LTIP Invest Earnings |
Liability |
2226 |
LTIP monthly investment earnings for Deferred Benefits accounts. Restricted for DFS use only. |
Deferred Benefits - Postemployment |
Liability |
2227 |
Accrued post-employment benefit obligations. Use: Workers' compensation and medical continuation benefits for those on long-term disability |
Deferred Comp - LTIP Investment Earnings |
Liability |
2228 |
LTIP monthly investment earnings for Deferred Compensation accounts. Restricted for DFS use only. |
Deferred Revenues |
Liability |
2240 |
Advance payments or unearned revenue. Revenue that is received but not earned in the current fiscal period. Use: Summer sessions; tuition is collected for the summer but not earned until the expense is recognized in a following period. |
Deferred Deposits |
Liability |
2250 |
Deposits received but not used in the current fiscal period. Use: Deposits collected for hosted events for catering, space, etc. Cornell Cooperative Ext. deposits from counties. |
Finance Lease Liability Real Estate |
Liability |
2260 |
Used to record Finance Lease Real Estate activity. DFS Use Only. |
Finance Lease Liability Equipment |
Liability |
2261 |
Used to record Financial Lease Equipment activity. DFS Use Only. |
Interdepart - Deferred Revenues |
Liability |
2280 |
This interdepartmental code represents advance payments or unearned revenue from another department or division at Cornell. Must be used with another interdepartmental code as the other side of the transaction. Use: Use should be limited as Cornell should not owe itself money. Revenue received for an event occurring in the following fiscal year. |
NON-QUAL DEFERRED COMP NO FRINGE |
Liability |
5445 |
Deferred compensation for specific employees. Zero fringe rate % |
Due To WCMC |
Liability |
2320 |
Use for activity in the WCMC due to/from accounts only (C7910xx). The department side of the transaction should be income or expense. Use: Record movement of funds to/from WCMC. |
Due To Other |
Liability |
2330 |
Use: Limited to the Division of Financial Affairs. |
Due To Qatar |
Liability |
2340 |
Use: Limited to the Division of Financial Affairs. |
Funds Held In Trust For Others |
Liability |
2410 |
Use: Limited to the Division of Financial Affairs. |
Accounts Payable |
Liability |
2000 |
A current liability representing money owed by Cornell to outside sources. Use: Fringe Benefits (pension, insurances), taxes, garnishments, |
FHFO- LTIP Investment Earnings |
Liability |
2416 |
LTIP monthly investment earnings for FHFO accounts. Use: DFS use only |
Tips Non-student |
Liability |
5298 |
Special code used by Statler Hotel to hold tips for non-students. This acts like a payroll code so it can be used by the payroll system. Use: Tips earned at Statler Hotel. Min fringe rate -- see KFS Labor Distribution Table Labor Benefits Calculation table for fringe rate %. |
Accrued Expenses |
Liability |
2010 |
Accrued expenses are expenses that have been incurred but are not yet invoiced. Therefore they will not appear on the financial statements unless an adjusting entry is entered prior to month end. Use: Used to properly record expenses within an accounting period. |