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Time with Office of Sponsored Programs

Time with Office of Sponsored Programs. April 6, 2010 Topics: Business Policy 213 and OSP Updates. BPM-213: Adjustment of Income and Expense Items. Correction Policy

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Time with Office of Sponsored Programs

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  1. Time with Office of Sponsored Programs April 6, 2010 Topics: Business Policy 213 and OSP Updates

  2. BPM-213: Adjustment of Income and Expense Items 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 • 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, Office of Academic Affairs will sign and then OSP will review, approve /disapprove and make correction if appropriate. • If change in allocation is more than 5%, EVR must be changed , re-verified and submitted to OSP.

  4. 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.

  5. BPM 213 Examples of improper and unallowable corrections: • When a transfer is for the purpose of utilizing unexpended funds. • When a transfer is for the purpose of avoiding or alleviating an overexpenditure. • When a transfer is for the purpose of moving a cost that is unallowable on one project to another. • When a transfer is for the purpose of circumventing award restrictions. • When a transfer is for the purpose of reimbursing a temporary "loan" of funds from another sponsored project.

  6. Pre-Award Updates Submissions 24 hours in advance of submission deadline Grants.gov-more than 24 hours Budgets Match budget to justification or vice- versa Double check formulas-seeing several with errors

  7. Pre-Award Updates Staffing-Who’s Who Michelle Smith Diane Brown Christie Wilson Ryan Dodd Melissa Chambers

  8. Post Award Updates Staffing—Who’s Who Kelly Bowen Dawn Clift Sara Lewis Mendy Kell Linda Evans Maria Shaub Accountants/Sponsors

  9. Questions

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