1. Coffee with Office of Sponsored Programs August 5, 2008 Topics:Business Policy 213 and Pre-award Updates

2. Adjustment of Income and Expense Items BPM-213 Correction Policy –Any correction of income and/or expense items between ChartFields should be made within two accounting periods (two months) after the end of the accounting period in which the original transaction posted. –Applies to all income and both salary/wage and non-salary/wage expense transactions. –Policy is organized into three different procedures that may be necessary to correct transactions; 1) salary and wage for sponsored programs activities (including cost share), 2) salary and wage for non-sponsored programs activities, and 3) income and non-salary expense items.

3. BPM 213 Correcting Salary and Wage for Sponsored Programs Items Payroll Correcting Entry-PCE –Costs must be allowable, directly benefit the project and represent more accurate allocation than currently recorded. –Document explanation of error and need for correction. –Signed by employee, PI and Chair to request correction. –If more than 60 days have elapsed between transaction and correction, OSP will review, approve and make correction. If change in allocation is more than 5%, EVR must be changed, re- verified and submitted to OSP.

4. BPM 213 Correcting Salary and Wage for Non-sponsored Program Items Payroll Correcting Entry-PCE –Document explanation of error and need for correction. –Signed by employee, PI and Chair to request correction. –Accounting will review, approved and make correction.

5. BPM 213 Correcting Income and Non-salary Expense Items Correcting Entry –Costs must be allowable, directly benefit the project and represent more accurate allocation than currently recorded. –Document explanation of error and need for correction. –Signed by PI or authorized person responsible for the chartfield and Department Chair. –If more than 60 days have elapsed between transaction and correction, OSP will review, approve and make correction.

6. Pre-Award Updates Fringe Rates Federal-Federal Flow Through Rate –31.65% –New Agreement with DHHS on OSP Web Page Shows 24%, but we have to add in FICA (6.20%)and Medicare (1.45%) Other Rate –28.87%

7. Pre-Award Updates GRA Stipends –On Web Page –Budget Templates Budget Justification on Web Page has been updated New Specialist –08/18/08

8. Questions