A year as reckoned for accounting purposes. The University's fiscal year runs July 1 - June 30 and is named based on the year in which it ends. For example; July 1, 2024 - June 30, 2025 would be FY 2025. 

A category of worktags used to indicate the authority area responsible for funds. One of the worktags in this category must be entered or selected on every non-cash transaction. There are six Financial Activity Objects: gift (Workday), grant (Workday), project (Workday), operating program (Workday), loan program (Workday), and debt service (Workday).

A worktag that provides additional detail, for an expense, to a ledger account (Workday). When using a spend category, a ledger account (Worday) will automatically be derived by configuring the account posting rule set. The detail may or may not be required in financial reporting. It is invaluable for detailed spend analysis. This worktag is a financial account category (FAC).

Costs that can be directly identified with a particular project. Types of Costs that can be identified specifically with a particular sponsored project, an instructional activity, or any other institutional activity, or that can be directly assigned to such activities relatively easily with a high degree of accuracy. Examples of direct costs include Types of direct costs include salaries and wages, benefits, consultants, equipment, supplies and travel.

The first date of a current budget period for a sponsored project. Money allocated within a budget period can be spent or encumbered starting on this date. Multi-year projects have a budget period start date for each budget period in the project.

The last date of a current budget period for a sponsored project. All money allocated within a budget period should be spent or encumbered by this date. Multi year projects have a budget period end date for each budget period in the project.

URGEMS is a general encumbrance management tool used to track and manage transaction details that shadow the UR Financials system, both grant and non-grant.