News & Annoucements
The F&A Distribution Process has changed!
As part of implementing the University Financial Model in 2014-2015, all F&A recoveries will be distributed to the school or unit that earned the recoveries. To see the new distribution percentages for FY2015, click on the link Distribution Percents.html. For convenience, the distribution percentages (Dean, Dept, Other, Formerly Central Distribution) for each school or unit are grouped together and total to 100%.
The F&A that was formerly distributed to central units will now be recorded in new revenue projects owned by your school or unit. To find your new revenue project, click on the link FA Projects for 64 percent.
The new revenue projects are not linked to an award, so your additional F&A won’t be reflected in cash balance reports, but can be seen in Discoverer GL_Only Activity reports.
September 2014 F&A Reports are Available
The September 2014 F&A reports are available on the F&A web page at: http://www.virginia.edu/finance/finanalysis/overhead.html
The “Reports MMM-YY.xls” files in this website have been modified to reflect the additional F&A distribution in a separate tab, labeled “Formerly Central F&A to Schools”. The format for the new tab contains the same subtotal structure as the Dept Dist and Deans Dist tabs that have been available for years.
There are changes on the Dist tab, as well. The previous table still exists at the top, but only the central distribution for State Total exists for the UVa Wise data. The other rows show the totals for Formerly Central F&A to Schools Total, Dept Total, and Deans Total.
A new table provides the summary by school of the distributed amounts.
As the reports are transitioning as we move to the University Financial Model, we would appreciate any feedback for refining the presentation.
FA Award Installment Adjustments
The FY14 FA award installments have been adjusted to account for the F&A earned through June 2014.
The initial installments for FY15 have not yet been entered, but we anticipate input will be completed in the next few weeks.
If you have any questions, please contact ph: 4-8928 or ph: 2-2373.