FM is a process that allows classification and tracking of revenues and expenditures in

terms of a budget structure

The FM module contains several core master data elements:

Fund Source and use of financing

Fund Center Organizational Structure
Commitment Item Expenses and Revenues
Functional Area Program or Activity
Fund Type Description
Funded Program Lower level internal programs or activity

Fund: Represent the lowest level source of funding used for tracking, controlling and
reporting on available financial resources. A full set of financial reports is possible for
each fund.
Funds Center: Represent the lowest level areas of responsibility for budgetary
assignment, monitoring and control. Can be one to one with cost centers.
Commitment Items: Represent the categories or classifications of fund equity, revenues,
expenses and encumbrances at the lowest level of detail necessary for internal and
external reporting. These have a one to one relationship with GL accounts.
Functional Area: Structures that identify and classify financial transactions by overall
purpose, objective, function and/or mission for accomplishing major services or
regulatory responsibilities.
Fund Types: Determine Budget scope. Some assignments are Overall budget, Annual
budget and Not Assigned
Funded Programs: Represent lower-level internal programs or initiatives, which represent
a plan or system under which actions may be taken to achieve specific goals.