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Using RAVEN and e UMB Financials to Track Sponsored Grants and Contracts

Using RAVEN and e UMB Financials to Track Sponsored Grants and Contracts. April 7, 2010 School of Social Work Auditorium. Financial Systems Kevin Curley Susan McKechnie. Goals For Today’s Meeting. Explain the new Project Status process in e UMB Financials

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Using RAVEN and e UMB Financials to Track Sponsored Grants and Contracts

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  1. Using RAVEN and eUMB Financials to Track Sponsored Grants and Contracts April 7, 2010 School of Social Work Auditorium Financial Systems Kevin Curley Susan McKechnie

  2. Goals For Today’s Meeting Explain the new Project Status process in eUMB Financials Introduce new features and functions for managing Sponsored Grants & Contracts Tracking Sponsored Grants & Contracts Revenues & Collections in RAVEN and eUMB Financials…connecting the dots

  3. Agenda • Project Status • Introduce UMB Grant Project View Page • Tracking Project Revenues in RAVEN & Financials • Reports: A/R Aging and RF Payment • Using UMB Grant Project View and related links • Tracking payments “on account” using the A/R Aging Report

  4. Project Status • eUMB uses project status to control allowable transactions • The following statuses have been used since go-live: • Open • 90 Day (Fund 18x projects only) • Frozen • Closed

  5. Project Status • Recently 3 new statuses have been added: • Pre-award • Temporary • Re-open • A new process was put in place to automatically change the status for fund 18x projects to 90 Day as of the project end date

  6. Project Status • A grid has been distributed to explain the types of allowable transactions for each status:

  7. Project Status • For statuses with message to “Call” RF, ORD, etc.- only need to call if you disagree with the status • Ex. You think a project with Pre-award status has been finalized or the end date on a project with the 90 day status has been extended • Pre-award vs. Temporary • Open vs. Re-open

  8. Project Status • Where will you see the status? • Journal Entries • Requisitions • P-Card reallocations • Raven • Projects by Department report • New page

  9. UMB Projects by Dept Report • General Ledger> General Reports> UMB Projects by Department Rpt • New parameters for project status

  10. UMB Grant Project View Page • New custom page designed for use by Restricted Funds but useful for department users too • Page is designed to look at one Project at a time but it includes the related Award data • Grants> Awards> UMB Grant Project View • UPK demo of page

  11. UMB Grant Project View Page • New security role- Dept Grants Inquiry • Must request role via eUMB Access form • The AR Aging and RF Payments reports will be attached to this role only in near future • We will use this role for invitations to meetings like this in the future • Notice will be sent to all users when form is ready and the page is ready for roll-out

  12. Using RAVEN and eUMB Financials to Track Sponsored Grants and Contracts Standard Grant Example Standard Grant Accounting Lifecycle Expend/Bill/Collect/Close

  13. Original Amount (minus) Balance Amt = Total Payment Received on the RF Payment Report 270,302.94 - 34,612.28 = 235, 690.66

  14. ** P-Card reallocations & JE’s awaiting QA Approval will cause Revenues to not equal Expenses **

  15. Deliverable Grant Example #1 Deliverable Grant Accounting Lifecycles Receive Start up funds/Expend/Bill/Collect/Close Expend/Bill/Collect/Close Bill/Collect/Expend/Close

  16. Deliverable Grant Example #2 Converted Deliverable Grant from FAS

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