July 2017 Reports are Available
The FY18 YTD Modified Total Direct Cost ("MTDC") sponsored base spending was $24,645,511, down 4.8% from the $25,884,554 for the last year fiscal year.
The YTD F&A recoveries in July were $8,929,550, down 6.0% from the $9,494,928 in FY17. This was a decrease of $565,379.
The effective rate in July 2017 was 36.2%, down from 36.7 % in July 2016.
The YTD Total Sponsored Expenditures, comprised of all spending on grants was $38,604,548, down 4.3% as compared with the spending through July 2016 of $40,339,964.
The months of July and August are notoriously non-indicative of projected total F&A recoveries for the fiscal year in which they fall. Expenditures and recoveries every July are abnormally large compared to other months in a fiscal year due to processing of two faculty payrolls in July (compensation being the largest component of grant spending). Therefore, F&A projections will not be available until later in the fall.
The July 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 link, http://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.