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June 2017 Reports are Available

The FY17 YTD Modified Total Direct Cost (“MTDC”) sponsored base spending was $199,356,393, up 9.3% from the $182,398,001 for the last year fiscal year.

The YTD F&A recoveries in June were $69,478,448, up 7.3% from the $64,753,485 in FY16. This was an increase of $4,725,964.

F&A recoveries for the fiscal year are the highest since FY11 with $73,316,071 when grant funding was augmented by ARRA stimulus funds.

The F&A recoveries in June exceeded the historical averages for the month, primarily due to the third payroll in June.

The effective rate in June 2017 was 34.9%, down from 35.5% in June 2016.

The YTD Total Sponsored Expenditures, comprised of all spending on grants was $323,040,386, up 8.6% as compared with the spending through June 2016 of $297,418,135.

The June 2017 F&A reports are available on the F&A web page at: http://www.virginia.edufinance/finanalysis/overhead.html

The “Reports MMM-YY.xlsx” files contain five tabs: Recoveries, Dept Dist, Deans Dist, Other Dist (to account for the new third allocation), and Dist.

The F&A Distribution Process

To see the Distribution Percentages established by the School/Unit, please view your org number on our updated F&A Allocation Percentages linkhttp://www.virginia.edu/finance/finanalysis/Distribution Allocation Percentages By Org.html

The FY17 F&A Allocation Percentages will be effect for the entire fiscal year.

Helpful Information for New Hires

Do you have new staff with fiscal duties related to F&A?  Then check out the “Working with F&A at UVa.pptx” presentation on our website!  The slides provide an overview of F&A, sample reports, and how to calculate that amount of F&A a grant will earn.

Certified Research Administrator

Planning on taking the Certified Research Administrator (CRA) exam?  Get a head start by looking at our “Understanding F&A Rates.pptx” presentation on our website.  This is the same presentation that is given during the CRA review course.   The slides cover federal regulations, definitions, and concepts, plus sample calculation with explanations.

If you have any questions, please contact ph: 4-8928 or ph: 2-2373.