Loyola University Chicago

Financial Services

Frequently Asked Questions (FAQs)

Accounting units are generally serviced within the Finance department by range.  You can reference the accounting unit ranges and types on the GL Structure page.  A general guide is listed below.

103xxx Sponsored Program Accounting
104xxx Sponsored Program Accounting
105xxx Sponsored Program Accounting
107xx Sponsored Program Accounting 
2xxxxx Sponsored Program Accounting

Sponsored Program Accounting
Administrators, by department
Department Listing

all other General Accounting


The current fringe benefit rates for Grants are available on the SPA rates page. The current fringe benefit rates for Operating Accounts are available on the Finance rates page.

The current indirect cost (facilities and administration) rates are available on the SPA rates page.

The current mileage rate is available on the finance department's website on their mileage reimbursement page.

The current daily meal allowance is available on the finance department's website. The foreign and domestic per diems are listed on the rates page.

Click on this link for a Chart of Accounts listing.

Questions about transactions can be sent to the General Accounting inbox: accounting@luc.edu, which is monitored daily. We will then forward the question to the appropriate person within Finance.

Every state has their own rules for determining who is exempt from sales tax. Not all state's offer sales tax exemptions to not for profit organizations. 

Budget transfers are used to outline anticipated revenue and expense.  Departments may submit budget transfers to better align their budgets with their actual spend.  For example, if a new position is created within a department a permanent budget transfer would be processed to fully fund the position.  Also, if one department would like to support a program or event in collaboration with another department a temporary budget transfer may be processed, impacting the current fiscal year.

All temporary and permanent budget transfer requests are reviewed to ensure that there is a sufficient available budget to accommodate the requested transfer.  A budget transfer may not be approved to be processed if there are insufficient funds.  Also, budget transfers between different fund types such as operating to an endowment accounting unit are unable to be processed.