FAST

Glossary

Approval (Requisition) - After a requisition is entered, Workflow will direct it through the system to the appropriate approvers. Once it is approved, it will move through several processes and be built into a purchase order. The requisition will show a status of "Approved" on the Requisition Inquiry page.

Encumbrance – An amount temporarily removed from budget based on a purchase order. It is recorded in Commitment Control and reduces RSA. It is reversed by an Expense.

Expense – An amount permanently removed from budget due to a payment. It is recorded in Commitment Control and reduces RSA.

Initiator - Requester -  Individual who enters a requisition. 

LPO – Limited Purchase Order. A requisition that is less than $1000.00 and for a commonly approved type of supply or repair will automatically source into a purchase order without Purchasing review or approval. Placing the order is in the hands of the department as a printed purchase order will not be mailed. LPO eligibility is based on ITEM CATEGORY and the category list is available online on the Purchasing Manuals webpage.

OCO (Operating Capital Outlay) – Purchases that add to the overall value of the university such as equipment or land acquisition. Also called an Asset.

Pre-encumbrance – An amount temporarily removed from budget based on a requisition. It is recorded in Commitment Control and reduces RSA. It is reversed by an Encumbrance. Purchase Order – Authorization to purchase goods or services.

Receipt/Receiving – Online acknowledgement of receipt and acceptance of goods or services.

Req_Approver – A Workflow role that acts as the first level of approval authority in the department. Most approvers have both this role and that of Req_Manager. . In areas with two levels of approval, different users will have only one of these roles.  Those areas are currently limited to the College of Engineering and Physical Plant.

Req_Manager – A Workflow role that is the highest level of approval authority in the department/college. Most approvers have both this role and that of Req_Manager. In areas with two levels of approval, different users will have only one of these roles.

Requester - see Initiator

Requisition - The online request for goods or services to be acquired from a supplier.

Rollup – In the "chart of accounts" several specific definitions of expenditures (expense accounts) are added together and form a larger category of budget accounts. Those accounts are further added together into even larger categories. This "tree" structure allows for various levels of budgeting and reporting. This is necessary because various agencies that provide funding, such as the State Comptroller or the National Science Association, require different levels of accountability from the university.

RSA – "Remaining Spending Authority" or "Budget Balance" this is the amount available to spend in a particular budget category.

Route, Routing Chartfield, Workflow Route – The chartfield value that is used for approval routing on a particular requisition. For a full explanation of Workflow routing in Purchasing, refer to "Purchasing Workflow" on the Fast Financial Webpage under Business Procedures.

Sourcing – The group of processes that turn a requisition into a purchase order. They eliminate the pre- encumbrance and create the encumbrance in Commitment Control.

Security Role – A role that determines what areas of the system a user can access and what they can do there. For example, there is a Security Role of Requisition Approver (PO_REQAPPR.) If a requisition has been pushed into Workflow, user can access the Approve Amounts screen and make changes to the Approval Action, comments, etc. But in addition to the security role, a user must also have one of the Workflow routes for Req_Approver/Manager on the routing chartfield for that requisition.

Workflow – The process that "moves" requisitions through layers of approval until it is "sourced" to a purchase order. For a full explanation of Workflow routing in Purchasing, refer to "Purchasing Workflow" on the Fast Financial Webpage under Business Procedures.