Understanding Fund Hierarchy

The video tutorial explains the concept of fund hierarchy within the Banner Finance System, focusing on the fund component of the FOPL (Fund, Organization, Account, Program, Activity, and Location). It details how funds are categorized and tracked at Virginia Tech, emphasizing the importance of understanding fund sources and classifications. The tutorial also introduces the Banner screen FTIFNDH, which allows users to explore fund hierarchies in their organizations.

What does the acronym FOPL stand for?

• Finance, Operations, Program, Activity, Location

• Fund, Operations, Account, Program, Location

• Fund, Organization, Account, Program, Activity, Location

• Finance, Organization, Program, Location

Why is it important to break down the fund further from the FOPL?

• To simplify the accounting process

• To ensure funds are spent as intended by aligning class and source

• To reduce the number of fund categories

• To eliminate the need for a database structure

What does the fund hierarchy allow us to see?

• The list of all fund beneficiaries

• The total amount of funds available

• The origin of the fund sources

• The number of transactions made

Which number does overhead funding start with?

• 4

• 2

• 1

• 3

What tool can be used to explore fund details in an organization?

• FUNDVIEW

• FOPL

• FTIFNDH

• FINANCEPRO