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The general fund is used to account for the major revenue and expenses of the university’s primary mission of instruction and the related support services of academic support, student services, institutional support, operation and maintenance of plant and scholarships and fellowships. This category does not include revenue or expenses for Continuing Education, International Education or Study Abroad programs, as those are recorded in Fund 20. General fund sources of revenue are:

• State appropriations
• Tuition, except that charged by Continuing Education
• Instructional fees
• Certain student activity fees
• Investment revenue
• Rental of general fund supported space
• Certain miscellaneous revenue

Revenue generated through departmental activity should not be recorded in the department’s general fund FOPPS. These revenues should be recorded in a 2x FOPPS as appropriate for the nature of the revenue.

The indirect cost recovery (ICR) fund is used to account for the facilities and administrative cost (F&A or indirect cost) reimbursement to the university from sponsored projects and departmental administration indirect cost recovery (DAICR) distributions. Expenses and charges incurred are to support the research mission of the university that are funded from ICR and DAICR. 

Fund 11 is also used to account for select campus liabilities and expenses, such as the early retirement incentive pro. for employees paid from Fund 10.

The cost share for general fund is used to account for cost share expenditures of the general fund. Departments/Institutes record CU Boulder expenses incurred to accomplish sponsor requirements of the associated sponsored project. Fund 12 speedtypes are funded with cash transfers from the unit’s Fund 10 speedtype.

The auxiliary TABOR enterprise fund is used to account for the revenues and expenses of those self-funded entities that have been formally designated by the Board of Regents as TABOR enterprises. The revenues are exempt from TABOR reporting. A new entity cannot be added to this fund group without the Board of Regents formally designating that entity as a TABOR enterprise. Existing TABOR enterprise entities can add new FOPPS to manage new activity as long as that activity is consistent with the role and mission that was the basis for their original TABOR enterprise designation. For example, if Housing were to build a new dormitory, then the new FOPPS could be added to Housing in Fund 20 for that dormitory. If the director of a TABOR enterprise is given an assignment to manage an additional and new activity that is different from the activity that was the basis for the entity’s TABOR enterprise designation, then that new activity may have to be accounted for in another, non-TABOR exempt fund. Each case has to be evaluated based on its nature and merits.

History & Overview of TABOR

In November 1992, babyÖ±²¥app voters approved an amendment to the State Constitution—Article X, Section 20—called the Taxpayer’s Bill of Rights or TABOR. This amendment imposes various limitations on state and local governments, including limitation on the imposition of new or increased taxes, the issuance of multiple fiscal year obligations, and permitted levels of fiscal year spending.

The restrictions imposed by TABOR do not apply to entities or activities characterized as enterprises. An enterprise is defined as a government-owned business which has the authority to issue its own revenue bonds, and which does not receive more than 10 percent of its annual revenues in grants (i.e. appropriations) from state and local governments.

During the 1993 legislative session, HB93-1355 was enacted to clarify which auxiliary facilities and activities operated by institutions of higher education within the state might qualify as enterprises. HB93-1355 provides a statutory framework in which auxiliary facilities and activities managed by the Board of Regents may qualify as enterprises so that they comply with the provisions of TABOR. The importance of qualifying as an enterprise lies in the fact that the revenue of the respective auxiliary facility or activity is removed from the revenue and expenditure limits of TABOR.

In September 1993, the Board of Regents passed a resolution designating certain auxiliary facilities and activities as enterprises. These were then reviewed by the state auditor and presented to the Legislative Audit Committee.

The 1993 list of enterprises on the Boulder campus included the following:

In response to the findings and recommendations submitted by the state auditor to the Legislative Audit Committee in 1994, the university committed to re-examine those auxiliary facilities and activities designated as enterprises. 

In 1995 the enterprise list for CU Boulder was adjusted as follows:

• Deletion of LASP Shop Operations
• Deletion of Student Admin Services
• Deletion of Student Support Services

In December 2002, TABOR designation was once again visited by the Board of Regents. The enterprise designations of the following were reaffirmed:

• Intercollegiate Athletics Facilities and Operations
• Bookstore Facilities and Operations
• Student Recreation Facilities and Operations
• Housing Facilities and Operations
• Student Health and Apothecary Facilities and Operations
• Parking Facilities and Operations
• Student Government Facilities and Operations
• Student Union Facilities and Operations
• Real Estate Leasing Facilities and Operations

Also at this time, the designation of facilities and activities as education services enterprises was modified and reaffirmed to include university-wide activities and facilities related to:

• Extended Studies Education Facilities and Operations
• International Education Facilities and Operations
• Graduate Medical Education Facilities and Operations.

At this time the designation of facilities and activities as research support services enterprises was modified and reaffirmed to include university-wide activities and facilities related to:

• Research Support Operations
• Research Building Revolving Fund Facilities and Operations.

Additionally, at this time, the designation of facilities and activities as other self-funded services enterprises was modified and reaffirmed to include university-wide activities and facilities related to:

• Dentistry Practice Plans
• Utility Plant Facilities and Operations
• Self-Insurance Services
• Medical Practice Plans
• Nursing Practice Plans
• Auditorium and Artist Series Facilities and Operations
• Pharmacy Practice Plans
• Telecommunications Facilities and Operations
• Health Related Fee for Services
• Conference Services

The Board of Regents modified one additional TABOR designation during their December 2002 meeting by terminating the inclusion of university east pavilion operations from the other self-funded services enterprises.

Designations of facilities and activities as enterprises by the Board of Regents remain in effect and continue unless terminated by a resolution on their part.

Passage of babyÖ±²¥app Senate Bill 04-189 in 2004 paved the way for the Regents to approve resolutions on June 2, 2004 and July 8, 2004 designating the entire university as a TABOR enterprise effective July 1, 2004.

Enterprise Status & Current Accounting Practices

TABOR enterprises are exempt from TABOR requirements. To qualify as an enterprise, a higher education institution must be a government-owned business authorized to issue its own revenue bonds and receive less than 10 percent of its annual revenue in grants from all state and local governments combined. Due in part to years of diminished state funding, the university eventually met both of these criteria; and on July 1, 2004, the university was designated as a TABOR enterprise beginning fiscal year 2005.

The university will maintain its designation as a TABOR enterprise only if it continues to meet both eligibility requirements. Because of the possibility that its TABOR status may one day revert back to non-enterprise status, the university continues to use the same fund structure and accounting conventions that were developed to comply with TABOR reporting requirements.

Some of the TABOR requirements noted in the Guide are no longer in effect. They do, however, offer insight into the origins of the accounting practices they refer to that are still in use. An excellent guide on TABOR, fund accounting and state budgetary reporting can be found in the Department of Higher Education Fiscal Guidelines put together by the controllers of babyÖ±²¥app’s institutions of higher education.

The cost share for auxiliary fund is used to account for cost share expenditures of the auxiliary fund. Units record CU Boulder expenses incurred to accomplish sponsor requirements of the associated sponsored project. Fund 22 speedtypes are funded with cash transfers from other auxiliary sources.

The auxiliary other exempt fund is used to account for revenue generated through departmental activity that is exempt from TABOR reporting for reasons other than being designated a TABOR enterprise or an internal service center. This primarily includes royalties or cash transfers of residuals from sponsored projects firm fixed price contracts (Fund 30).

The auxiliary internal service center fund is used to account for the activities that have been designated as internal service centers (ISC).  These are also referred to as internal sales activities (ISA), service centers or core service activities. Two ISCs, Telecommunication Services and Cogeneration, are designated as TABOR enterprises and are accounted for in Fund 20. Fund 28 activity is exempt from TABOR reporting. Sales by Fund 28 activities are subject to complex restrictions, annual review and profit limitations. As such, Chapter 13 of the Guide, Internal Sales Activities, is dedicated to the topic.

The other self-funded operations fund is used to account for revenue generated through departmental activities that cannot be classified in other 2x funds. Fund 29 is the default unrestricted current fund for departmental revenue. These revenues are subject to TABOR reporting. For revenue related to sponsored projects, such as workshop or conference fees, federal regulations must be followed. Per OMB 2 CFR 200 Subpart D 200.307 (Uniform Guidance), this revenue should be used in one or more of the following ways:

• Added to the budget for the sponsored project and used to further the project objectives
• Used to finance the non-federal share of the sponsored project, which may require transfer to Fund 22
• Deducted from the total budget for the project to determine the net allowable costs

​Fund 29 is also used to account for rate-based service activities (RBSA). RBSAs are defined as instances in which goods or services are provided at consistent rates based on units of sale (e.g., $100 per hour), in any volume or frequency, to customers internal or external to CU Boulder. For more information on RBSAs, refer to the service activities webpage

The sponsored projects funds are used to account for grants and contracts negotiated through the Office of Contracts and Grants (OCG) and certain financial aid programs. Fund 30 is used for revenue that is exempt from TABOR reporting based on the type of sponsor i.e., all sponsors other than those required to be accounted for in Fund 31. Fund 31 is used to account for sponsored projects from State of babyÖ±²¥app agencies. State-funded projects are set up in Fund 31 in order to track state funds for the contract management process that SB07-228 requires. Fund 31 is subject to TABOR reporting. Fund 33 is used to account for sponsored service activities negotiated by OCG with external sponsors. Activities are performed by university personnel and utilize university resources with excess capacity to perform work similar to tasks done on sponsored research projects, but without the scientific investigation and conclusions. For more information on sponsored service activities, refer to the service activities webpage 

The cost share gift fund is used to account for cost share expenditures with the restrictions as prescribed by donor intent. Units record CU Boulder expenses incurred to accomplish sponsor requirements of the associated sponsored project and consistent with the restrictions placed on the use of the gifts. Fund 32 speedtypes are funded with cash transfers from gift sources.

The gift fund is used to account for all gifts, except those gifts restricted for cost share, the loan fund or the plant fund. Gift fund revenues are exempt from TABOR reporting. Gifts should be deposited to the University of babyÖ±²¥app Foundation (CUF) or, less frequently, into a Fund 34. CUF accounts are linked to Fund 34 FOPPS for spending. Refer to chapter 15 Gift Accounting in the Guide for additional information.

The development fund is a fund to account for the Office of Advancement (Development) to expend budget provided to accomplish the fundraising mission. Cash transfers from the CU System Development office provide the funding for these activities. Expenditures are restricted to development activities. 

In FY20, Fund 3A was created to account for certain funds received from the Federal Government, via the State of babyÖ±²¥app to offset costs related to the Coronavirus pandemic. Due to the specific reporting requirements of the Coronavirus Relief Fund (CRF) monies, CU opted to create a separate fund to account for the revenues and allowable expenses. Once the funds are spent, it is anticipated that this fund will be closed.