Glossary

MIT’s former electronic procurement portal, eCat has been replaced by the Buy-to-Pay (B2P) system.

A tool in SAP Payroll that allows administrators and Principal Investigators to review monthly and quarterly salary reports and certify quarterly reports to comply with Financial Review and Control and Payroll Certification policies. The eDACCA application replaces the paper DACCA in the Legacy Payroll System.

Any corporation, foundation, trust or other institution operated for scientific or educational purposes, not organized for profit for a private shareholder or individual.

Funds invested and those available for investment in educational plant, as well as applicable mortgage bonds and notes payable.

All digital computers, word processors, and components thereof.

This feature allows administrators to update salary distribution records for prior and future periods. The eSDS application replaces DINDI, SANDI and eSANDI.

Clause or language that extends policy terms, coverages, or conditions beyond the scope of the basic policy provisions.

Encompasses both endowment funds and funds functioning as endowment.

Gifts and bequests where the donor has stipulated, as a condition of the gift, that the principal is to remain inviolate in perpetuity and is to be invested for the purpose of producing present and future income.

MIT’s property database. eProp maintains the inventory of all tagged property and equipment and has files on nearly 100,000 pieces of equipment throughout the MIT campus and at remote locations.

Used to indicate that an item may be substituted for a required item if it is equal in quality, performance and other characteristics.

Refers to an article of nonexpendable, tangible, personal property that is complete and does not lose its identity or become a component part of another item when placed in use.

A contract provision which permits the adjustment of contract prices by an amount or percent if certain specified contingencies occur, such as changes in the vendor's raw material or labor costs.

Any item which is no longer required on a project and is now available for screening and use within the Institute.

Contributions requiring fulfillment of terms specified by the donor that are received and either spent or deemed spent within the same year.

Shipment of goods to a foreign country.

A markup language that defines a set of rules for encoding documents in a format that is both human-readable and machine-readable. XML has come into common use for the interchange of data over the Internet and become the default for many office-productivity tools, including Microsoft Office.