Processing Local General Funds: (LG)
|
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 |
|
|
What |
Who |
When |
How Do I |
|
Install allocation to 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, any adjustments to the installment are initiated as a result of an ICOM submission initiated by the Award Manager. |
If an appropriate award does not exist for this revenue, see Request for New Award procedure. |
|
|
University Budget Office budget@virginia.edu or School Budget Director |
After receipt of ICOM. |
|
|
What |
Who |
When |
How Do I |
|
Fund Projects |
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, after project funding is complete.
|
A. For projects linked to an award for the first time. Creating Award Budgets Make sure award/project linkage has been approved before you create the award budget.
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.
|
|
|
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 |