Office of the President
1201 S. State Street
Timme Center, CSS 301
Big Rapids, MI 49307
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January 21, 2022 - Employee Leadership Development Program: Financial Management at Ferris State University
January 24, 2020 - Employee Leadership Development Program: Financial Management at Ferris State University
January 18, 2018 - Employee Leadership Development Program: Financial Management at Ferris State University
Michigan Association of State Universities (MASU)
Michigan Higher Education Institutional Data Inventory (HEIDI)
Appropriation is used to describe the amount of funding received from or "appropriated" by the
State to be used for a specific purpose. Ferris receives appropriations from the State
of Michigan for general operations, designated programs (such as the King/Chavez/Parks
programs funding), and for physical construction or maintenance.
Function of expense is a State codification system that prescribes how Michigan's State universities will account for and report on the spending of the University. These functions are described briefly as follows:
A fund represents a distinct phase of the activities of a unit and the fund is controlled by a self-balancing group of accounts in which all of the financial transactions of the particular phase are recorded. For instance, the General Fund is established to account for the general educational and related support activities of the University. The fund groups within which Ferris accounts for all fiscal transactions are prescribed by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). These fund groups include: general, designated, expendable restricted, endowment, student loan, plant, auxiliary, and agency. Descriptions of each of these fund groups follow.
1201 S. State Street
Timme Center, CSS 301
Big Rapids, MI 49307