Budgets - Creating

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Budgets - Creating

Distribution

Comptroller

GM Administrator

GM Setup Specialist^*

GM OSP Setup Specialist^*

GM Award Manager^*

GM Project Manager^*

Related Procedures

Creating Award Budgets [PRO4005U]

Ownership

The Comptroller is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

Steps in Creating an Award Budget and Viewing the Project Budget

DO NOT BUDGET THE LINKED PROJECT AND AWARD COMBINATION UNTIL THE PROJECT STATUS IS APPROVED.

An e-mail notice will be sent to the initiator of the workflow (Award Manager or Setup Specialist) stating the new Project and Award combination (linkage) has been Approved/Rejected. “For project "XXXXX", the status change to "Approved" was approved by (UVA GM XXXXXXXX Workflow Approver”. If the notification is Approved proceed with steps to create a budget, if rejected do not proceed.

If you are the Project Manager but not an Award Manager or a Setup Specialist, you may also see the funding amount allocated to your project by navigating to the Project Funding Summary window or by running the standard report in GA: UVA PA Installment vs Project Funding vs Expenditures.

The following steps show you how to enter your budget into the GA module.

Grants Accounting
N® Budgets ® Award Budgets ® B® Find Draft
Award Budgets

1. Select Award Budgets.

2. Enter Award Number or use LOV.

3. Tab.

4. Select the Project to be budgeted.

5. Select [OK].

If the Award is funding only one Project, the Project number will default in automatically.

6. Select [Find Draft]

Determine whether you need to create or amend an award budget

7. Enter the Version Name, (for example "Original FY 04-05" or "Revision #1 FY 04-05").

8. Enter the description, for example, "Increment FY 04-05".

The status, Working, is updated when you [Submit]/[Baseline].

The UVa Standard - Task Level will default in as the Entry Method.

GA does not allow changing the level for subsequent budgets.

GA does not allow changing the budget level for projects funded by multiple awards. Otherwise, it would not summarize the project budget accurately.

UVa Standard resource list automatically populates the Resource List field in the Entry Options region.

9. Select [Details] and the Task Budgets window opens.

In this example, the project has only one task. If your project has more than one task, all tasks will be listed on this page. When you select [Budget Lines] you will be entering the budget lines for the active task (the one with the blue square to the left of the task number).

10. Select [Budget Lines] and the Budget Lines window opens.

In order to spend money allocated to your project, it must be funded, budgeted, and approved, and have budgetary controls enabled.

Budgets must fall within the dates of the project, task and award installment. The amount of the budget cannot exceed the amount of the funding for the project. You can create a budget with no dollars, but there must be funding of at least $.01.

You can budget at either the resource group or resource, but not to both within a resource group. For example, you can make a budget entry under Supplies, Lab Other and Supplies, Office providing that you have not made an entry under the high level category Supplies & Materials. It is recommended that you budget at the resource level, otherwise referred to as "expenditure type" level.

11. Choose the period (month) you'd like to budget to. The dates are automatically set to equal the start and completion dates of the project and task.

If the award is "year to date" by fiscal year (FY), the budget would be loaded in July of that FY. If the award is "project to date," you can budget at the first month of the project, task & installment depending on the type of Award you are budgeting.

12. Enter the resource (i.e., Expenditure type.)

Burdened Cost for Amount Type populates when the Resource is selected.

13. Enter the amount you want to budget for the resource. Save after each line.

You can enter a change reason and comment for each period/resource you budget.

To budget multiple tasks, select the blue arrows down/up next to the task field to choose the next task to budget. Repeat steps 11 - 13 for each task that you are budgeting.

14. Close the Budget Lines window

15. Close Task Budgets window.

16. Select [Submit].

New budgets or existing budgets that have no transactions against them will not submit a concurrent request for submitting but will instead submit on-line.

If at this point you decide to make a budget line change you can do so by selecting [Rework]. This changes the status from submitted to working. Repeat steps 17 -26.

17. Select [Baseline].

18. Close Award Budgets form.

Budgetary controls are enabled and Project Budgets are summarized systematically after the Award Budget is Baselined.

Project Budgets

You can review the project budget, but it is not necessary after the process has completed.

Grants Accounting
N® Budgets ® Project Budgets
Project Budgets

1. Navigate to Project Budgets.

2. Enter project number or use the LOV.

Do not use the Enter key after selecting your project.

3. Tab.

4. Enter Budget Type with LOV (Approved Cost Budget).

5. Select [OK].

6. Select [Details].

7. Select [Budget Lines].

If the project is funded by more than one award, the summarized budget will include funding from all the award budgets linked to the Project. You cannot update the Project budget in this form. You have to go back to the Award Budget for modifications.

8. Close Budget Lines window.

9. Close Task Budgets window.

10. Close Project Budgets window.

End of activity.

Effective: 07/22/09