News & Announcements
The new UVa F&A rate, beginning July 1, 2017, is 61% with an increase effective July 1, 2018, to 61.5%. For grants already submitted or existing, the rate is 58%. All new proposals being submitted for starting dates of July 1, 2017, may now use the new 61% rate.
The F&A Distribution Process
The Department of Financial Planning and Analysis (formerly the University Budget Office) has worked with the Schools to develop a new distribution methodology where 100% of the F&A will be distributed to the Schools/Units of the Org that generated the recoveries. Therefore, the July 2017 F&A distribution to central offices have been reversed and re-distributed to the schools/units. Beginning with month-end closing process for August 2017, 100% of the recoveries will be posted to the F&A revenue projects of the Schools/Units/Orgs.
The Schools/Units were allowed to create up to three allocations for the F&A for each of its Orgs.
To see the Distribution Percentages established by the School/Unit, please view your org number on our updated F&A Allocation Percentages link Distribution Allocation Percentages by Org FY2017
The FY17 F&A Allocation Percentages will be effect for the entire fiscal year.
December 2016 F&A Reports are Available
The December 2016 F&A reports are available on the F&A web page at: http://www.virginia.edu/finance/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.
FA Award Installment Adjustments
The initial FY17 award installments will be entered into Oracle in the next few weeks.
If you have any questions, please contact ph: 4-8928 or ph: 2-2373.