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Finance Interchange - v2.2
Overview
The Finance interchange describes financial data related to an education organization.
Like all standard Ed-Fi interchanges, this schema references the Ed-Fi Core XSD and can be extended using the Ed-Fi Extensions Framework. See the Ed-Fi Data Standard: Developers' Guide for more information.
Use Cases
The Finance Interchange can be used to:
- Exchange budget data for an education organization.
- Exchange actuals against a budget for an education organization.
- Exchange an education organization’s payroll data.
Model Details
The following figure shows a logical view of the Finance Interchange schema:
Entities
The following table describes the primary entities of which the Finance Interchange is composed.
| Name | Description |
|---|---|
| Account | This financial entity represents a funding source combined with its purpose and type of transaction. It provides a formal record of the debits and credits relating to the specific account.
|
| Actual | This financial entity represents the sum of the financial transactions to date relating to a specific account. |
| Budget | This financial entity represents the amount of monies allocated to be spent or received by an education organization as related to a specific account. |
| ContractedStaff | This financial entity represents the sum of the financial transactions to date for contracted staff. ContractedStaff includes "contractors" or "consultants" who perform services for an agreed upon fee or an employee of a management service contracted to work on site. |
| Payroll | This financial entity represents the sum of the financial transactions to date for employee compensation. An "employee" who performs services under the direction of the employing institution or agency is compensated for such services by the employer and is eligible for employee benefits and wage or salary tax withholdings. |
Extended References
This interchange includes the following Extended References.
| Extended Reference Name | Description |
|---|---|
| EducationOrganizationReference | Optional. Relates the account to an Education Organization, |
| StaffReference | Optional. Relates the staff member to the associated Payroll or Contracted Staff expense |
Descriptor Dependencies
This interchange references the following Ed-Fi Descriptors, thus requiring them to have been defined using the Descriptors interchange prior to this interchange. For more information on the Ed-Fi Descriptor Pattern, see the Ed-Fi Data Standard - Developers' Guide.
| Descriptor Name | Description |
|---|---|
| AccountCodeDescriptor | Required. The set of account codes defined for the education accounting system organized by account code type (e.g., fund, function, object) that map to the account. |