Glossary

This glossary is a collection of terms (and their meanings) heard frequently in the daily life of the Controller's Office. Some are specialized, others are more commonplace - and our intent in compiling them is to help MIT staff, faculty, and students conduct their Controller's Office business more effectively.

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ECAT

MIT proprietary web ordering and payment system.

Endorsement

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

Endowment and Similar Funds

Encompasses both endowment funds and funds functioning as endowment.

Endowment Funds

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.

Equipment

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.

ESANDI

The electronic version of the SANDI report designed for the legacy payroll system. The function of this report is replaces in the SAP payroll system by eSDS.

Excess Property

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

Expendable Donor-Restricted Gifts

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

Export

Shipment of goods to a foreign country.