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SPO Training. LOC Draws, Subrecipient Monitoring, & FFRs. Susan Cessac Monika Gupta Jessi Jordan. LOC Draw Process. LOC Report Draw based on agency Sponsor list Check agency totals – negative cash position Pending vs Active Draw on contract basis Multiple projects per contract.
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SPO Training LOC Draws, Subrecipient Monitoring, & FFRs Susan Cessac Monika Gupta Jessi Jordan
LOC Draw Process • LOC Report • Draw based on agency • Sponsor list • Check agency totals – negative cash position • Pending vs Active • Draw on contract basis • Multiple projects per contract
LOC Draw Process • Balance LOC report to Ledger • Balancing issues: revenue manually posted to project • Generate Invoices • Billing plan set up correctly • Draw from Payment system • Important that LOC Doc ID matches account number
Award Setup • Same award, same contract! • 51 awards have two or more contracts assigned to them • Exception: multiple business units per award
Award Setup • LOC Doc ID needs to match account number • Award profile - > view contract hyperlink - > lines tab - > detail tab - > scroll to the far right to see the LOC Doc ID text box
Award Setup • Verify agency and fund • Sponsor, fund, and LOC Ref ID • USDA is on multiple payment systems – important LOC Ref ID is correct • Fund is never 2100 for LOC except for IRS & CNCS
Billing Plan Method • LOC Billing Plan • Billing Method should be “As Incurred” NOT “Value Based” • Over 30 Kansas City LOC contracts setup as “Value Based” • Example – Contract 0021868
Billing Plan Method • Unassign Incorrect Billing Plan
Billing Plan Method • Assign new billing plan
Billing Plan Method • Now there are 2 billing plans
Billing Plan Method • Example continued: Bill plan B102
Billing Plan Method • Example continued: Bill plan B101 Change to cancelled
Award Setup • Award Modifications • In award modifications, amounts should be entered as increments as they will be released Enter issue date if funding has been released
Activating Projects • Verify budget limit = current funding available • Budget limit is what we use to determine what we can draw up to at this point in time • Award profile -> view contract -> lines -> amount detail -> limit amount
Recon 13 Total Contract Limit Issued Award Modifications Budget Amount
Closing Projects • Check Budget Variance to make sure Revenue = Expenses • Check Income Statement for cash • Email Monika/Jessi if you need to close a project & revenue does not equal expenses
Subrecipient Monitoring • Attach subaward to SubK page
Subrecipient Monitoring • Include contact information in Subk Addr • Including Email ID
Subrecipient Monitoring • Include invoices received by subrecipient • Include EPLS check (required to be checked before payment)
Subrecipient Monitoring • Check subrecipient monitoring link before entering into new sub agreement • Check subrecipient monitoring link for each vendor before paying • If risk assessment and checklist are not included, email Jessi and cc Susan to see if the vendor is okay to pay
Federal Financial Reports (FFR) Sponsors that require Quarterly FFR’s: NASA USDA (awards on PMS only) DHHS IRS CNCS DHS DOS NSF DOE (awards issued from Chicago Office only)
