Sponsored Projects Training Program October 13, 20 and 27, 2010 Sponsored Projects Training...

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


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 Projects Training Program

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


PeopleSoft ToolsPeopleSoft Tools

Reports◦Monthly Budget Reports - Projects◦Closeout Report◦Cost Share Summary◦Budget Transaction Detail Report


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


PeopleSoft ToolsPeopleSoft Tools

PagesHCM:◦Dept Budget Table◦Job Data

FINANCIALS:◦Budgets Overview◦Award Profile


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)


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)


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


PMBRPMBRPossible parameters


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


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


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


CLOSEOUT REPORTCLOSEOUT REPORT

Possible parameters


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


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


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


COST SHARE SUMMARY COST SHARE SUMMARY

Possible parameters


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)


COST SHARE SUMMARYCOST SHARE SUMMARY

◦Report use frequency Run and review quarterly


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


BUDGET TRANSACTION DETAIL REPORT BUDGET TRANSACTION DETAIL REPORT Possible parameters


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


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


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)


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


UV_RC_GL_JE_NOT_SUBMITTUV_RC_GL_JE_NOT_SUBMITTEDED


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


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


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


UV_GM_FINDINGAWDTHRUREFAUV_GM_FINDINGAWDTHRUREFAWDWD


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


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.


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


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


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


RESOURCESRESOURCES

How to run reports/report questions: Open Labs, Learning Services Classes, Footprints

http://www.uvm.edu/hrs/?Page=skills/develop_skills.html


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


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 October 13, 20 and 27, 2010 Sponsored Projects Training...

Documents

Transcript of Sponsored Projects Training Program October 13, 20 and 27, 2010 Sponsored Projects Training...