WHAT IS A FOAP?

A FOAP is a way to record financial activity within the general ledger. (F=fund, O=organization, A=account and P=program.) The fund is the source from which the funds are drawn. The organization identifies the school/college/division and department. The account identifies the category of activity, such as revenue, expense, and transfer. The program identifies the purpose of the related financial transactions, within the context of the University's major activities, such as instruction, research, public service, etc..