Sponsored Project Training Program Grant Financial Management Tools & Best Practice November 7, 2012 Sudha Ramaswami Sponsored Project Administration Sponsored Project Training Program1November 7, 2012

Context 2Sponsored Project Training Program 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

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 3Sponsored Project Training ProgramNovember 7, 2012

What you should know…. 4Sponsored Project Training Program 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

Best practices recommendations Sponsored Project Training Program5 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

Best practices contd… 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) 6Sponsored Project Training ProgramNovember 7, 2012

PeopleSoft Tools Reports ◦ Monthly Budget Reports - Projects ◦ Closeout Report ◦ Cost Share Summary ◦ Budget Transaction Detail Report 7Sponsored Project Training ProgramNovember 7, 2012

PeopleSoft Tools 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 8Sponsored Project Training ProgramNovember 7, 2012

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

MONTHLY BUDGET REPORT – PROJECTS (PMBR) 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 10Sponsored Project Training ProgramNovember 7, 2012

PMBR Possible parameters 11Sponsored Project Training ProgramNovember 7, 2012

PMBR 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 Sponsored Project Training ProgramNovember 7, 2012

PMBR 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 13Sponsored Project Training ProgramNovember 7, 2012

CLOSEOUT 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 14Sponsored Project Training ProgramNovember 7, 2012

CLOSEOUT REPORT Possible parameters 15Sponsored Project Training ProgramNovember 7, 2012

CLOSEOUT REPORT 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 - reporting.htmlhttps:// reporting.html 16Sponsored Project Training ProgramNovember 7, 2012

CLOSEOUT REPORT 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 17Sponsored Project Training ProgramNovember 7, 2012

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 18Sponsored Project Training ProgramNovember 7, 2012

COST SHARE SUMMARY Possible parameters 19Sponsored Project Training ProgramNovember 7, 2012

COST SHARE SUMMARY 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 ◦ tments.html) 20Sponsored Project Training ProgramNovember 7, 2012

COST SHARE SUMMARY ◦ Report use frequency  Run and review quarterly 21Sponsored Project Training ProgramNovember 7, 2012

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 22Sponsored Project Training ProgramNovember 7, 2012

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

BUDGET 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 24Sponsored Project Training ProgramNovember 7, 2012

UV_PAY_ERN_DIST 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: Query can assist with trouble shooting information in PMBR 25Sponsored Project Training ProgramNovember 7, 2012

UV_DIST_PAST_PROJECT_END_ 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) 26Sponsored Project Training ProgramNovember 7, 2012

UV_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 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 27Sponsored Project Training ProgramNovember 7, 2012

UV_RC_GL_JE_NOT_SUBMITTED 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 28Sponsored Project Training ProgramNovember 7, 2012

UV_GM_FINDINGAWDTHRUREFAWD 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 29Sponsored Project Training ProgramNovember 7, 2012

UV_PROJ_RESOURCE Navigation: 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. 30Sponsored Project Training ProgramNovember 7, 2012

UV_GM_FLVLS_JUSTI_FORM_REQ 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 Sponsored Project Training Program31November 7, 2012

JOB 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 SPA for American Recovery & Reinvestment Act (ARRA) reporting ◦ Salary Cap cost share calculations ◦ Provides historical and current information 32Sponsored Project Training ProgramNovember 7, 2012

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 SPA for American Recovery & Reinvestment Act (ARRA) reporting Quick things that can be ascertained ◦ Distribution changes on a particular project 33Sponsored Project Training ProgramNovember 7, 2012

BUDGETS 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 34Sponsored Project Training ProgramNovember 7, 2012

AWARD 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 35Sponsored Project Training ProgramNovember 7, 2012

RESOURCES Upcoming classes ◦ SPA website Learning Services Skill development website 36Sponsored Project Training ProgramNovember 7, 2012

Process Questions/Contact info Dean’s Office Sponsored Project Administration 217, Waterman Building 85 South Prospect Street Burlington, Vermont (802) phone (802) fax 37Sponsored Project Training Program November 7, 2012

Conclusion 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 Project Training Program38November 7, 2012

THANK YOU! Sponsored Project Training Program39November 7, 2012