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Overdraft Report

Overdraft Report. What is the Overdraft (OD) Report?. Report that reflects all negative fund balances in each Division at the end of each ledger month Means by which the Administration can: gain an overview of the financial health of each Division and/or individual PI

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Overdraft Report

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  1. Overdraft Report

  2. What is the Overdraft (OD) Report? • Report that reflects all negative fund balances in each Division at the end of each ledger month • Means by which the Administration can: • gain an overview of the financial health of each Division and/or individual PI • identify issues at an early stage so that corrective measures can be implemented before the issues are exacerbated

  3. How to create the OD Report 1) Pull the data using the Financial Reporting Application (FRA)

  4. How to create the OD Report continued… 2) After sending report to excel, delete Comp Plan funds. Use Operating Balance figures of all other FAUs to complete OD template.

  5. How to create the OD Report continued… 3) Input data into the OD spreadsheet http://www.ora.med.ucla.edu/6_Forms/2_Post-Award_Forms/Overdraft_Template.xls

  6. How to create the OD Report continued… 4) Either the day of or a day before submitting report, enter the current balance for each FAU from QDB Summary by Sub into the “current overdraft” column.

  7. How to create the OD Report continued… • Electronic version of the OD report must be emailed by the MSO to Giti Zarenia by the last working day of the month for the prior month’s ledger. * i.e. Mar 10 OD report is due 04/30/10.

  8. Understanding the Columns • Overdraft on Ledger • From the FRA report, enter the amount from the Operating Balance column. • List all OD figures in terms of positives. i.e. don’t need to add “-” sign in front of numbers since it is assumed all are negatives. • Current Overdraft • This amount should come from Project Balance/Total Direct field from the QDB Summary by Sub report. • If the FAU currently has a positive balance, please just enter “0” in this field to indicate that the overdraft has been cleared. • This information should be added right before submission of the Overdraft Report, and after any adjustments have been processed, so that the numbers are up to date. • Comments • Acceptable justificationswill include ALL of the following: 1) Reason for the OD 2) Detailed account of what steps have been taken to clear the OD 3) Amounts and dates of actions taken

  9. Hints & Tips • Justifications should be sufficient, detailed, clear and understandable. • If a OD is on your list for several months and/or increasing monthly, that is a red flag and may require additional justification. • TOF/UPAYs/NPEARs/Change orders need to be processed prior to submitting report. Do not say these actions are “pending” or “will be done”. List date(s) when action(s) was/were taken. • Date OD will clear should be a realistic date. Do not simply list the next month if you don’t expect the OD to clear by then. • Current OD will be checked by Giti using the next month’s figures. So make sure the steps taken to clear the OD are long term fixes, not just fixes for the current OD month. • For example, for the Mar 10 OD report due 04/30/10, Giti will be using the April ledger figures as “current OD”. • Long term fixes include making sure an FAU is “Y’d” in the FS system, calling recharge units to change recharge ID linked to services, updating EDB, etc.

  10. Backup Documentation • Minimal backup documentation is required. Only include documentation when the justification is complicated, such as a long email string between the FM and EFM which would help explain the situation. • Do NOT include copies of TOFs, UPAYs, NPEARs or QDB Summary by Sub report.

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