Financial Management of Project Spear Workshop
This content discusses financial management aspects such as spending funds, reimbursement, allowable expenditures, transaction review, compliance evaluation criteria, regulatory pyramid, and guidelines for grants and contracts. It provides detailed insights into managing financial aspects related to sponsored projects and awards.
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Presentation Transcript
FINANCIAL MANAGEMENT OF YOUR PROJECT SPEAR WORKSHOP OCTOBER 19 & 30, 2015
Financial Management Spending Funds Monthly Reconciliation Financial Management Allowable Expenditures myFSU Tools
Spending Funds Direct Benefit to Sponsored Award Personnel Costs Encumbered HR/Payroll Non Personnel Costs Purchasing Accounts Payable Non-Duty Stipends Research Participant Payments Travel/Expense Reports Journal Entries/ DOL General Accounting Interdepartmental Requisitions Graduate Waivers Graduate studies
SRA Transaction Review > $1000 ALL Personnel appointments pPaf, ePaf, Rdff Stipend requests Journal entries/ DOL Interdepartmental requisitions IDR Auxiliary Charges Subcontracts/ Subcontract invoices Requisitions Expense Reports Payment requests
Compliance Evaluation Criteria Chartfield Information- Commitment Control-> Review Budget Activities-> Budgets Overview Dept ID, Fund Code, Project Number Available Balance Commitment Control-> Review Budget Activities-> Budgets Overview Direct Cost Funds available for Expense by budget category line item Appropriate for nature of expense Authorized Signature- Project Costing->Project Definitions->Team Sponsored Project Manager or PI Co PI PI must authorize expenditure approval Performance Period-Project Costing->Project Definitions->Status Goods or Services received and consumed within Dates of Award period Account code/ Job Code http://controller.vpfa.fsu.edu/Accounting-Property-Services/General-Ledger-Account-Lists Allowable- Grants- Awards-> Award Profile (Terms Tab) Terms and Conditions support expense Reasonable and Necessary Allocable amount charged benefited project proportionally
Regulatory Pyramid Grant or Contract Terms & Conditions FSU Policies and Procedures Sponsor Specific Policies EX: NSF 2 month rule, NIH Salary Cap Federal Policies Ex: Uniform Guidance , OMB Circulars (A-110, A-21, A-113) FAR Clauses
Guideline Information 520 Grants: OMB Circulars, Uniform Guidance Contracts: FAR 523 Same as 520 Combined with 530 524 Same as 520 Terms and Conditions of Award Terms and Conditions of Award Florida Statutes FL Auditor General Guidelines 530 540 Terms and Conditions of Award
myFSU Tools Award Profile Project Project Activity Project Costing Budgets Overview myFSU BI
Award Profile Navigation Grants-> Awards-> Award Profile Information on Award Tab Agency Reference/ Award Number Title of Award PI s Name Sponsor Name Award Dates Projects associated with award
Funding Tab Award Profile- Funding Tab Modifications processed on award Budget Posting Status = Posted Available in Commitment Control
Certifications Information on Certification Tab Waiver Codes Wav 1 a. Contract/ Grant will pay matriculation fee for graduate student and out of state tuition for engineering majors Matriculation charges follows appointment b. No qualifying graduate students proposed. (NOTE: This account will be coded to the effect that matriculation fees/tuition waivers will be direct charged in the event qualifying graduate students are appointed at a later date.); OR c. Sponsor does not allow payment of graduate assistant salaries; therefore, there will be no matriculation fee liability. Wav 2 Matriculation charges covered by College/ School Waiver Allocation Wav 3 Department will need to submit departmental Billing form to SRA Coordinator with alternate funding source Wav 4 Contract/Grant will pay only the matriculation fee for graduate assistants, even if, engineering majors are involved in this project. Matriculation charges follows appointment Human Subjects Animal Care Indirect Cost Waiver
Terms Terms Information Tab List the terms and conditions that are associated with sponsored award Prior approval/ Requires approval Sponsor approval needed
Milestones Milestone Information Tab Technical Reports Milestone Type TECRP Financial Reports Milestone Type FINRP Progress Reports Milestone Type PRGRP Due Date Date due to Agency
Attributes Attributes Information Tab Equipment Title Who retains ownership of property- Government, Sponsor or FSU Program Income Project Small Business Innovation & Small Business Technology Joint ventures between small businesses and FSU Uniform Guidance Federal/Federal Flow thru grants issued after 12/26/2014 unless otherwise specified in award document Portion of funding increases issued after 12/26/2014
Project General Information Tab Project Status Hold Project setup is not complete New Project Not Open Award Budget Period starts in the future Open Current date is within Award Budget Period Completed Current date is outside award budget period Semi closed Final financial report submitted to agency Closed Sponsored Award is financially closed
F&A Rates Tab Navigation Grants-> Awards-> Project Activity FA Rates Tab F&A Rate Info Facilities Admin Rate Location and Purpose of Award Institution FA Base & Rate approved by cognizant agency Sponsor FA Base & Rate approved by sponsor Funded FA Base & Rate that will be burdened by sponsored award
Project Team Navigation Project Costing-> Project Definitions-> Team Roles Expenditure Approval Authority PI Sponsored Project Manager Co-PI (only if ePro Req box is checked) Project Manager Approver for Travel Expenditures ePro Req If box checked, transactions will route to worklist for approval
Project Dates Navigation Project Costing-> Project Definitions-> Status Status and Effective Dates Status = H (Hold) Defaults when the award is generated Status = N (New Project Not Open) The O Effective date is in the future Status = O (Open) Effective Date is award start date or allowable spend date Status = E (Completed) Effective Date = project budget period end date Departments cannot create new transactions against the project. Payments against encumbrances will process. Status = S (Semi closed) Effective Date = date that SRA has generated a final invoice to the agency Only certain transactions can be processed at this point and only SRA staff has authority. Status = C (Closed) Effective Date = date that SRA has cleared all closing items No transactions should occur against the project at this point
Budgets Overview Project ledgers KKGMPAR (Total Budget) KKGMCHD (Direct/Indirect/Cost Share)- Use this for KK info Parent Direct Child 700001 Indirect Child 780300 Direct Cost- Cost readily identified to Sponsored Award Principle Investigator Salary Indirect/ F&A Cost- Not directly identifiable to an Sponsored award Administrative/ Clerical Salary OMB A-21 Cost Share Child 700001
Budgets Overview Cost Share Ex.
Expenditures that arent Encumbered P-Card Charges Electricity One-Time Pays Journal Entries/ DOL Interdepartmental Requisitions Telecommunications Postal Fed Ex Auxiliary Charges Tuition/ Matriculation Fee Worker s Compensation C&G Terminal Leave Indirect Cost
myFSU OBI myFSU OBI Department Ledger Summary Reconcile expenditures monthly Transaction Detail Expense Data Mining Review Process Allowability Allocation of expenditures Posted to correct chartfield Review Department, Fund, Project, Account Code Overbudget Rebudgeting
Departmental Ledger 741101 Office Supplies Is this coded correctly? Has a CAS form been submitted? Should this be charged to another funding source?
Personnel Example Award Information Appointment Information Appointment for Andrea Awesome Job Code M9184 Graduate Teaching Assistant Appointment Dates 11/01/2015-12/14/2015 Period Amount $1,173.30 Funding Details: 094004- 520-039086 Approved By: Amazing Durham Research Grant Award Period:10/31/2014- 11/30/2015 Available Balance:$1,500.00 Chartfield Information: 094004-520-039089 Wav Code 1 Amazing Durham is the SPDEPTACT
Requisition Example Award Information Requisition Information Research Grant Title: Time travel using Plutonium Powered DeLorean Award Period: 09/01/2014- 03/31/2016 Available Balance:$1,251,158.03 Chartfield Information: 014004-523-036725 Dr. Emmett Brown is the PI Budget Justification: Plutonium Powered DeLoreon needed to test and study the vulnerabilities of time travel Quote# 125689- Plutonium Powered DeLorean Amount:$32,250.00 Due Date: 12/30/2015 Funding Details: 014004-523-036725 Approved By: Dr. Emmett Brown
Questions Andrea D. Durham Training Administrator, SRA 850-644-8674 addurham@fsu.edu
