What types of transactions are allowed on self-supporting funds? Are there any restrictions on self-supporting funds?
A. The State Finance Act restricts the use of these funds to the support, maintenance, and development of the self-supporting activity generating the revenue in the fund. In other words, expenditures are restricted to those necessary to fund the activities that generate the revenue. Self-supporting funds cannot be created to receive revenue that has its offsetting expenditures paid from appropriated or other University funds. Also, self-supporting funds cannot be generated or used by units for discretionary purposes. Back to top Q. Our office will be involved in an activity that could be classified as a self-supporting activity (e.g., selling tickets to a luncheon for students and their parents), but the dollar level will be fairly immaterial. Is there a dollar/materiality level that we should consider prior to establishing a self-supporting fund? If the activity is not material enough to warrant establishing a new self-supporting fund, how should we record this activity? A. Generally,
