The July 2008 F&A reports are available on the F&A web page at:
http://www.virginia.edu/finance/finanalysis/overhead.html.

Changes in Distribution Process for FY07

In June 2006, Gene Block, VP and Provost, announced a change in the F&A distribution process for FY07. There will be no more off-the-top adjustments. The distribution percentages will be used in the reports and also be used by the Integrated System mass allocation formulas to calculate the F&A revenue distributions.

In FY06 new expenditure types were created to account for the incremental F&A. The incremental F&A was also known as Vice President for Research and Graduate Studies (VPRGS) Reserve. The new expenditure types were "F & A Costs Greater Than 48%" and "F & A Costs Greater Than 23.6%." With the simplified F&A distribution process, these expenditure types are no longer needed, and so will no longer be used. Instead, the VPRGS Reserve will be preserved as part of the F&A distribution percentage to the VPR.

Also as part of the simplification, the industry incentive adjustment has been discontinued. The F&A reports on the Web are a precise report of your F&A revenue. They should agree with the F&A revenue recorded in your F&A revenue project.

Installments will still be made on the same schedule as last year – initial installment in July, YTD April in May, and final settlement for the fiscal year in the following July.

The new percentages are available by clicking on the "F&A Allocation Percentages" link on the F&A web page at http://www.virginia.edu/finance/finanalysis/overhead.html.

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