sponsored projects training program october 13, 20 and 27, 2010 sponsored projects training program1
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Sponsored Projects Training Sponsored Projects Training ProgramProgram
October 13, 20 and 27, 2010October 13, 20 and 27, 2010
Sponsored Projects Training Program 1
Financial Management Financial Management ToolsTools
Sponsored Projects Training Program 2
Objectives
• 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
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What you should know….What you should know….Before you start this class, we assume that you have:
a) Familiarity with Fundamentals of PeopleSoft, Basic Level: http://www.uvm.edu/hrs/?Page=skills/psclasses.html
b) Familiarity with PeopleSoft, Mid-Level: http://www.uvm.edu/hrs/?Page=skills/psclasses.html (such as Journal Entries/Expense Reports/PurCards/Time & Labor)
c) Basic Excel usage
d) Attended previous sessions in this Sponsored Projects Training Program.
e) Financial forecasting and analytical skills
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PeopleSoft ToolsPeopleSoft Tools
Reports◦Monthly Budget Reports - Projects◦Closeout Report◦Cost Share Summary◦Budget Transaction Detail Report
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PeopleSoft ToolsPeopleSoft ToolsQueries
HCM:◦UV_PAY_ERN_DIST◦UV_DIST_PAST_PROJECT_END_DATEFINANCIALS:◦UV_GM_KK_ERRORS_ALL◦UV_RC_GL_JE_NOT_SUBMITTED◦UV_PURCARD_JRNLS_NOTFINISHD◦UV_INTERIM_PURCARD_QRY◦UV_REQUISITION_DETAILS◦UV_GM_FINDINGAWDTHRUREFAWD◦UV_GCA_PROJ_RESOURCE
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PeopleSoft ToolsPeopleSoft Tools
PagesHCM:◦Dept Budget Table◦Job Data
FINANCIALS:◦Budgets Overview◦Award Profile
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Recap from Grant Financial Management Post Award PresentationPerform 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 allowableProvide PIs with a copy of the reportsReview 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)
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Recap from Grant Financial Management Post Award Presentation
Perform on a quarterly basisRun the Closeout Report for all departmental grantsEnsure 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 personnelEnsure no effort reductions of greater than 25% of
committed effort Meet with PI to review grant budget status, effort,
and upcoming quarter plansMake prospective distribution changes as
necessaryEnsure cost share commitments are met (including
third party)
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MONTHLY BUDGET REPORT – MONTHLY BUDGET REPORT – PROJECTS (PMBR)PROJECTS (PMBR)
Navigation: UVM Reports > Budget Reports > Monthly Budget Rpt – Projects
General use◦ Review monthly for budget vs. actuals, encumbrances, and
possible unallowable expensesThe report can be run to excel and therefore the data
may be manipulated for personal reports
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PMBRPMBRPossible parameters
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PMBRPMBRRecommended 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
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PMBRPMBR 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.
GCA 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
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CLOSEOUT REPORTCLOSEOUT REPORT
Navigation: UVM Reports>Closeout Report
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
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CLOSEOUT REPORTCLOSEOUT REPORT
Possible parameters
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CLOSEOUT REPORTCLOSEOUT REPORTRecommended 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
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CLOSEOUT REPORTCLOSEOUT REPORTReport use frequency
◦ Run quarterly for all department grants◦ Run 30 days prior to grant expiration and
both 20 and 30 days after grant ends
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COST SHARE SUMMARY COST SHARE SUMMARY
Navigation: UVM Reports>Cost Share Summary
General use◦ A snap shot of the mandatory cost share
requirements, budget, and actuals for ongoing monitoring
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COST SHARE SUMMARY COST SHARE SUMMARY
Possible parameters
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COST SHARE SUMMARYCOST SHARE SUMMARYRecommended 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◦May be accessed from GCA’s webpage,
under “GCA resources” (http://www.uvm.edu/~gcaacct)
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COST SHARE SUMMARYCOST SHARE SUMMARY
◦Report use frequency Run and review quarterly
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BUDGET TRANSACTION DETAIL REPORT BUDGET TRANSACTION DETAIL REPORT
Navigation: Commitment Control>Budget Reports>Budget Transaction Detail
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
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BUDGET TRANSACTION DETAIL REPORT BUDGET TRANSACTION DETAIL REPORT Possible parameters
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BUDGET TRANSACTION DETAIL REPORTBUDGET TRANSACTION DETAIL REPORT
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
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UV_PAY_ERN_DISTUV_PAY_ERN_DIST QUERY QUERY 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
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UV_DIST_PAST_PROJECT_ENDUV_DIST_PAST_PROJECT_END_DATE _DATE 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)
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UV_GM_KK_ERRORS_ALLUV_GM_KK_ERRORS_ALL
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 GCA 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
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UV_RC_GL_JE_NOT_SUBMITTUV_RC_GL_JE_NOT_SUBMITTEDED
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 reportUseful during
◦ Month End ◦ Project close out
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UV_INTERIM_PURCARD_QRYUV_INTERIM_PURCARD_QRYNavigation: Finance module - Reporting
Tools>Query Viewer> Type in the query name
General use◦ Lists all purcards that have had activity during the time
frame put in the query prompt◦ Enables the department administrator to get the purcard
statement and back up from the purcard holders to make sure that the expenses charged are appropriate and allowable.
Benefits of using the query◦ Fewer cost transfers if the purcard activity is monitored
up front rather than the charge being allowed to post to the default chart string without verification.
◦ Backup for your purchases if needed to be pulled for an audit
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UV_REQUISITION_DETAILSUV_REQUISITION_DETAILSNavigation: Finance module -
Reporting Tools>Query Viewer> Type in the query name
General use◦To review blanket purchase orders
activity and charging expenses appropriately.
Benefits◦Used for monitoring vendor activity –
payments, invoices etc◦Used for allocating expenses according
to the usage
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UV_GM_FINDINGAWDTHRUREFAUV_GM_FINDINGAWDTHRUREFAWDWD
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
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UV_PROJ_RESOURCEUV_PROJ_RESOURCENavigation: Finance module – Reporting
Tools>Query Viewer> Type in the query name
General use◦ Basically an expenses only version of the
Monthly Budget Report – Projects
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.
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JOB DATAJOB DATA 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 GCA for American Recovery & Reinvestment Act (ARRA)
reporting
◦ Salary Cap cost share calculations
◦ Provides historical and current information33Sponsored Projects Training Program
DEPT BUDGET TABLE DEPT BUDGET TABLE Navigation: HR module - Set up
HRMS>Product Related>Commitment Accounting>Budget Information>Department Budget table USA
General use◦ Lists distributions◦ Includes history of distribution changes and date changes
were entered ◦ Used by GCA for American Recovery & Reinvestment Act
(ARRA) reporting
Quick things that can be ascertained◦ Distribution changes on a particular project
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BUDGETS OVERVIEWBUDGETS OVERVIEW
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
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AWARD PROFILEAWARD PROFILE 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
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RESOURCESRESOURCES
How to run reports/report questions: Open Labs, Learning Services Classes, Footprints
http://www.uvm.edu/hrs/?Page=skills/develop_skills.html
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Process Questions/Contact Process Questions/Contact infoinfoDean’s Office
Office of Sponsored Programs, Pre-Award Services◦ http://www.uvm.edu/~ospuvm/◦ Main Campus Office & Funding Information,
340 Waterman Building, 6-3360◦ Health Sciences Office, 231 Rowell Building, 6-
4067
Grant and Contract Administrative Services◦ http://www.uvm.edu/~gcaacct/◦ 223 Waterman Building, 6-1459
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ConclusionConclusion• 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
Sponsored Projects Training Program 39
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