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Reading a Sponsored Programs Financial Statement

Reading a Sponsored Programs Financial Statement. *Use keyboard arrows to view next*. What is a Grant Statement?. The Grant Statement is generated monthly from PeopleSoft General Ledger account balances Budget Represents approved budget from sponsor for direct and indirect costs

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Reading a Sponsored Programs Financial Statement

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  1. Reading a Sponsored Programs Financial Statement *Use keyboard arrows to view next*

  2. What is a Grant Statement? • The Grant Statement is generated monthly from PeopleSoft General Ledger account balances • Budget • Represents approved budget from sponsor for direct and indirect costs • Amount Expensed • Represents actual expenses that have been charged to sponsored project • Commitments • Represents salaries, fringe benefits and other expenses that have been committed or encumbered but not yet expensed against the sponsored project • Balance Available • Represents remaining balance in sponsored project; it equals the BUDGET less the AMOUNT EXPENSED and COMMITMENTS

  3. Reconciling a project crossing fiscal years may require multiple year end reports Business Unit Department Product Accounts A C B D E F H G

  4. Other Reports to Complement Grant Statements • Grant Statements are available in Vista Plus • Other reports, also available in Vista Plus, provide transaction level detail in support of account balances on grant statements • Current Earnings Year-to-Date • Combined Activity • Monthly Inventory Usage by Department • Year-to-Date Accounts Payable Grant Distribution • Encumbrance Summary • Telephone detail available from Pinnacle • If you or your staff do not currently have access to Vista Plus or Pinnacle please complete a service request

  5. The Current Earnings Report reflects the earnings of individual employees charged to a sponsored project as well as future charges through the budget end date. These earnings are displayed for a fiscal year in a pay-by-pay format. Salary encumbrance appears for all employees currently on project. It is computed by multiplying employee's biweekly salary times number of pay periods through the budget end date. A B C D

  6. The Combined Activity Report is produced on a monthly basis and summarizes non-labor expenses charged to a sponsored project. B

  7. The Inventory Usage by Department Report summarizes monthly charges from the Pharmacy, University Warehouse (Stores) and Supply, Processing and Distribution (SPD). E

  8. The Accounts Payable Grant Distribution Report summarizes processed invoices, requests for payment, travel reimbursement sand interdepartmental charges. The report is available in two formats: monthly and fiscal year to date. F G

  9. The Encumbrance Summary Report is generated monthly and reflects amounts not yet invoiced on purchase orders. H

  10. Computing F&A Costs • After all direct costs are posted for a particular month, F&A costs (indirect costs) are applied as percentage of total direct expenses or cash receipts • The F&A rate and methodology can be found on the Notice of Grant Award (NoA) or Office of Research Administration establishment memo

  11. Any Questions? • If you have a question about reading a statement, please contact your accounting representative in Sponsored Programs Accounting Office to provide assistance.

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