Sponsored Project Training Program
Grant Financial Management
Tools & Best Practice
November 7, 2012
Sudha Ramaswami
Sponsored Project Administration
November 7, 2012 Sponsored Project Training Program 1

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Grant Life Cycle committee & its work
SPTP
New Cost Policy effective 7/1/2012
An atmosphere of compliance and possible reduction in funding
November 7, 2012 Sponsored Project Training Program 2

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• Recommend PeopleSoft reports, queries, and pages (tools) for effective grants management
Review how and when to use these tools
Discuss resources available for interpreting the data
November 7, 2012 Sponsored Project Training Program 3

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Basic understanding of sponsored projects
Familiarity with basic and mid-level PeopleSoft
(monthly budget reports, journal entries, expense reports, PurCards, Time & Labor)
Basic Excel usage
Financial forecasting and analytical skills
Attended previous sessions in this Sponsored
Projects Training Program
November 7, 2012 Sponsored Project Training Program 4

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Perform on a monthly basis
 Run the Project Monthly Budget Report for all department grants
 Monitor for overdrawn or over encumbered projects
 Review expenses to ensure they are allowable
 Provide PIs with a copy of the reports
 Review and resolve all budget checking errors
 Use either the Closeout Report or query
“UV_GM_KK_ERRORS_ALL” (financial module)
 Review and submit all journal entries awaiting submission or posting
 Use either Closeout Report or query
“UV_RC_GL_JE_NOT_SUBMITTED” (financial module)
November 7, 2012 Sponsored Project Training Program 5

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Perform on a quarterly basis
 Run the Closeout Report for all departmental grants
 Ensure personnel are not distributed past end date of grant
 Use query “UV_DIST_PAST_PROJECT_END_DATE” (HR module)
 Compare committed effort to actual effort for both the PI and key personnel
 Ensure no effort reductions of greater than 25% of committed effort
 Meet with PI to review grant budget status, effort, and upcoming quarter plans
 Make prospective distribution changes as necessary
 Ensure cost share commitments are met (including third party)
November 7, 2012 Sponsored Project Training Program 6

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◦ Monthly Budget Reports - Projects
◦ Closeout Report
◦ Cost Share Summary
◦ Budget Transaction Detail Report
November 7, 2012 Sponsored Project Training Program 7

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Queries
HCM:
◦ UV_PAY_ERN_DIST
◦ UV_DIST_PAST_PROJECT_END_DATE
FINANCIALS:
◦ UV_GM_KK_ERRORS_ALL
◦ UV_RC_GL_JE_NOT_SUBMITTED
◦ UV_GM_FINDINGAWDTHRUREFAWD
◦ UV_GCA_PROJ_RESOURCE
◦ UV_GM_FLVLS_JUSTI_FORM_REQ
November 7, 2012 Sponsored Project Training Program 8

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Pages
HCM:
◦ Dept Budget Table
◦ Job Data
FINANCIALS:
◦ Budgets Overview
◦ Award Profile
November 7, 2012 Sponsored Project Training Program 9

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Navigation: UVM Reports > Budget Reports >
Monthly Budget Rpt – Projects
General use
◦ Review monthly for budget vs. actuals, encumbrances, and possible unallowable expenses
The report can be run to excel and therefore the data may be manipulated for personal reports
November 7, 2012 Sponsored Project Training Program 10

Possible parameters
November 7, 2012 Sponsored Project Training Program 11

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Recommended use
◦ Check the ‘Financial Data in XLS’ option and in the output filter for
 Possible unallowable expense categories
 Expenses that require possible prior approval
 Equipment
 Foreign Travel
◦ Review for possible rebudgeting
 See NGA for restricted items
 Work with PI and PAS administrator for those items requiring prior approval
◦ Check salary distributions and fringe
 Review PI and key personnel committed effort
 Work with PI and PAS administrator for those items requiring prior approval
Job Aid - http://www.uvm.edu/hrs/?Page=skills/manuals/financialreporting.html
November 7, 2012 Sponsored Project Training Program 12

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Report use frequency - monthly
It is important to note that the payroll encumbrances are through
UVM’s fiscal year-end (June 30) only, which typically does not match the award end date.
◦ Payroll expenses should be projected through the award end date
This report captures only those transactions that have been posted to the General ledger (GL).
◦ Any transaction that has been budget checked but not posted will not be reflected here.
SPA prepares interim financial reports and invoices based on actuals posted to the GL at the end of a specific accounting period
◦ PMBR will reconcile to these reports and invoices
November 7, 2012 Sponsored Project Training Program 13

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Navigation: UVM Reports>Closeout Report
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General use
◦ The best tool to get a comprehensive snap shot of the project
◦ It provides sponsored and cost share budget balances, lists all the exceptions that need to be addressed and much more
November 7, 2012 Sponsored Project Training Program 14

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Possible parameters
November 7, 2012 Sponsored Project Training Program 15

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Recommended use
◦ Review the demographic information (in the header of the report)
◦ Compare budget to actuals for both sponsored and cost share chartstrings
◦ Review salary encumbrances
◦ Journal Entries/Expense Reports/Vouchers/Purchase Orders stuck in budget checking errors
◦ Purcards/Expense Reports with a default chartstring tied to the project
◦ Open Purchase Orders and Requisitions – check to see if encumbrances are still needed
◦ Upcoming Reporting Milestones
 Any Interim Reports due
 Final report due dates
Job aid https://www.uvm.edu/hrs/?Page=skills/manuals/financial reporting.html
November 7, 2012 Sponsored Project Training Program 16

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Report use frequency
◦ Run quarterly for all department grants
◦ Run 30 days prior to grant expiration and both 20 and
30 days after grant ends
November 7, 2012 Sponsored Project Training Program 17

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Navigation: UVM Reports>Cost Share Summary
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General use
◦ A snap shot of the mandatory cost share requirements, budget, and actuals for ongoing monitoring
November 7, 2012 Sponsored Project Training Program 18

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Possible parameters
November 7, 2012 Sponsored Project Training Program 19

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Recommended use
◦ Cost share budget, actuals, encumbrances, and budget balances compared to project start and end date
◦ Ensure commitments will be met by the end of the project period
◦ Resolve potential overdrafts in cost share chartstrings prior to the end of the project period
Cost Share Business Process & Summary Job Aid
◦ https://www.uvm.edu/spa/?Page=costsharingcommi tments.html)
November 7, 2012 Sponsored Project Training Program 20

◦ Report use frequency
 Run and review quarterly
November 7, 2012 Sponsored Project Training Program 21

BUDGET TRANSACTION DETAIL REPORT
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Navigation: Commitment
Control>Budget Reports>Budget
Transaction Detail
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General use
◦ Research a transaction that may have posted during a prior accounting period
◦ Used as back up for Journal entries
◦ Secondary to the Monthly Budget Report - Projects and should only be used for research
November 7, 2012 Sponsored Project Training Program 22

BUDGET TRANSACTION DETAIL REPORT
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Possible parameters
November 7, 2012 Sponsored Project Training Program 23

BUDGET TRANSACTION DETAIL REPORT
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Ledger Group Detail KK will return transactions for all the types of projects
◦ Ledger group is active effective 07/01/2008
Ledger Group Child2 will return transactions for the old Ledger Group Child1 as well
This report will give the details of transactions that have a valid budget status
◦ This will differ from the monthly budget report in all those cases where the journals/expense reports have not been posted to the
General Ledger
November 7, 2012 Sponsored Project Training Program 24

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Navigation: HR module – Reporting Tools>Query Viewer> Type in the query name
General use
◦ Great tool to review the individuals and the salary on a project
Quick things that can be used to check using this query
◦ People distributed to this project/chart string
◦ Dollar amount per person
◦ Type of pay received (vacation, overtime, etc)
◦ Check against Monthly Budget Report – Projects
 In order to reconcile with PMBR, the period has to be closed to ensure payroll is posted.
Link to the job aid: http://www.uvm.edu/hrs/skills/manuals/queries.pdf
Query can assist with trouble shooting information in PMBR
November 7, 2012 Sponsored Project Training Program 25

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Navigation: HR module – Reporting Tools>Query Viewer> Type in the query name
General use
◦ Lists all people across departments who are distributed to a specific project past the project end date
Things to check
◦ Useful at closeout of an award
◦ Should be run at least quarterly to find out who is still distributed to a project
◦ Trigger to request a no-cost-extension
◦ Trigger to remove people from project – possible terminations involved
(timing of notice, vacation calculations)
November 7, 2012 Sponsored Project Training Program 26

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Navigation: Finance module - Reporting Tools>Query Viewer> Type in the query name
General use
◦ Lists all budget checking errors as of a particular date
◦ Used by SPA in contacting you to clear certain budget checking errors
◦ Extremely useful during closeouts and at year end
◦ Use this query instead of the project closeout report to get a list of all budget checking errors for all grants in your unit
Can be run by transaction type – Salary journals, regular journals, expense reports or for a particular ledger group – SP_CHILD2 or SP_PARENT for grant related budget checking errors
Run monthly to review and resolve budget checking errors
November 7, 2012 Sponsored Project Training Program 27

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Navigation: Finance module - Reporting
Tools>Query Viewer> Type in the query name
General use
◦ Lists journal entries that have not been submitted or posted
◦ Used by Financial Reporting and Analysis department during month end
◦ This information is also available on the closeout report
Useful during
◦ Month End
◦ Project close out
November 7, 2012 Sponsored Project Training Program 28

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Navigation: Finance module - Reporting
Tools>Query Viewer> Type in the query name
General use
◦ Used for locating awards using the sponsor award number
◦ A quick way to locate any new awards or awards that are on Guaranteed
Funding/Advanced Account
◦ Should be run as needed
November 7, 2012 Sponsored Project Training Program 29

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Navigation: Finance module – Reporting
Tools>Query Viewer> Type in the query name
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General use
◦ Basically an expenses only version of the Monthly
Budget Report – Projects
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Monthly Budget Report - Projects includes the details in this query plus budget information.
We recommend that you use the PMBR in place of this query.
November 7, 2012 Sponsored Project Training Program 30

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Navigation: Finance module - Reporting Tools>Query Viewer>
Type in the query name
General use
◦ Query created at the time of cost policy roll out
◦ Lists the expenses that are under the categories which are to be justified – F levels
F6002 – General Supplies & Services
F6020 – Computer Expenses
F6006 – Memberships & Subscriptions
F6320 – Telephone & Telecom
F6301 – Utilities
F6510 – Equipment Maintenance
F6007 – Work orders
◦ Gets the data from Ledger
31 November 7, 2012 Sponsored Project Training Program

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Navigation: HR module - Workforce Administration>Job Information>
Contract Administration> Job Data
General use
◦ Provides useful employee information on
 FTE
 Department
 All jobs – includes the Fletcher Allen Healthcare component and other positions
 Employment terms
 Salary plan – bi weekly/semi monthly
 Changes in compensation
Used for the following circumstances
◦ Total compensation determination for effort and cost share calculations
◦ FTE reporting
 Used by SPA for American Recovery & Reinvestment Act (ARRA) reporting
◦ Salary Cap cost share calculations
◦ Provides historical and current information
November 7, 2012 Sponsored Project Training Program 32

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Navigation: HR module - Set up HRMS>Product
Related>Commitment Accounting>Budget
Information>Department Budget table USA
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General use
◦ Lists distributions
◦ Includes history of distribution changes and date changes were entered
◦ Used by SPA for American Recovery & Reinvestment Act (ARRA) reporting
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Quick things that can be ascertained
◦ Distribution changes on a particular project
November 7, 2012 Sponsored Project Training Program 33

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Navigation: Commitment Control>Review Budget
Activities>Budgets Overview
General use
◦ Quick snapshot of the project budgets and expenses including cost share information at any point in time (live)
◦ Not used for reports or invoices to the sponsors or for University financial statements
Quick things that can be ascertained
◦ Total budget of the award
◦ Expense Categories
◦ Chartstrings
◦ Estimated budget balance
Can be run for sponsored or cost share chartstrings or both
November 7, 2012 Sponsored Project Training Program 34

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Navigation: Grants>Awards>Award Profile
General use
◦ Provides award demographic information and other helpful details for effective grants management
Gives the demographic info of an award
◦ PI name/Co-PIs
◦ Sponsor name
◦ Amount of Funding
◦ Start and End dates
◦ Milestones – Reporting and otherwise
◦ Grant Administrator link
The additional information link that gives a variety of info
◦ Cost Share
◦ Related Awards
◦ Any other special terms
November 7, 2012 Sponsored Project Training Program 35

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Upcoming classes
◦ http://www.uvm.edu/hrs/skills/fullschedulefy13
.pdf
SPA website
Learning Services Skill development website
November 7, 2012 Sponsored Project Training Program 36

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Dean’s Office
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Sponsored Project Administration http://www.uvm.edu/spa/
217, Waterman Building
85 South Prospect Street
Burlington, Vermont 05405-0160
(802) 656-3360 phone
(802) 656-8604 fax
November 7, 2012 Sponsored Project Training Program 37

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Recommended PeopleSoft reports, queries, and pages (tools) for effective grants management
Reviewed how and when to use these tools
Discussed resources available for interpreting the data
November 7, 2012 Sponsored Project Training Program 38

November 7, 2012 Sponsored Project Training Program 39