Processing Local Chair Funds: (LC)
|
What |
Who |
When |
How Do I |
|
Receive cash & initiate deposits to various revenue projects |
Various central offices |
Within 24 hours of receipt |
|
|
Create manual journal entries |
Various central offices |
Day of bank deposit |
|
|
Verify deposits have been posted to their respective revenue projects |
Various central offices |
Available day after journal entry has been processed. |
|
|
What |
Who |
When |
How Do I |
|
Install annual chaired professor research allocations to local chair fund awards in each school |
University Budget Office |
At the beginning of the fiscal year as part of the annual BOV approved budget load. |
|
|
Analyze whether chaired professor research projects have carryover balances |
Award Manager |
At the beginning of each fiscal year |
|
|
Submit ICOM to budget office to request any needed chaired professor research project carryover balances. |
Award Manager |
At the beginning of each fiscal year |
|
|
Install carryover balances to the local chair fund awards in each school |
University Budget Office |
Upon receiving and approving ICOM request from the Award Manager |
|
|
What |
Who |
When |
How Do I |
|
Fund $2,000 annual installment to each chair project from LC award |
University Budget Office |
At the beginning of the fiscal year as part of the annual BOV approved budget load. |
|
|
Award Manager |
After the beginning of the fiscal year, upon notification from the Budget Office that an ICOM has been processed. |
|
|
What |
Who |
When |
How Do I |
|
Budget award-project combination
|
University Budget Office |
At the beginning of the fiscal year as part of the annual BOV approved budget load. |
|
|
Award Manager or Project Manager (If the Award Manager so delegates.) |
After the beginning of the fiscal year, when funding is complete.
|
A. For projects linked to an award for the first time. Creating Award Budgets B. For all existing Award/Projects links: Modify Budgets and Funding (Steps 11-31) |
|
What |
Who |
When |
How Do I |
|
Monitor and reconcile expenditures |
Project Manager |
All projects should be reviewed by the tenth (10) working day of each month for the previous month’s activity.
|
FM Expenditure Detail by Project
|
|
Monitor budget to actual and projected expenditures at the award-project level |
Project Manager |
All projects should be reviewed by the tenth (10) working day of each month for the previous month’s activity.
|
FM Project BBA by Expenditure Type
|
|
Monitor budget to actual and projected expenditures at the award level |
Award Manager |
All awards should be reviewed by the tenth (10) working day of each month for the previous month’s activity.
|
OR |
|
What |
Who |
When |
How Do I |
|
To verify installment changes made via ICOM request or as part of the initial fiscal year approved BOV budget load. |
Award Manager |
As needed |
|
|
1. To confirm award installments are fully funded and budgeted. 2. To determine budget, expenses, and encumbrances for each award summarized by project. |
Award Manager |
As needed |
UVA PA Installment vs Funding vs Budget vs Expenditure Report |
Periodic review to make sure no transactions are posting to your projects through GL |
Project Manager |
Periodically |