Installment Modification DFF

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Installment Modification DFF - ITS

Distribution

Comptroller

GM Administrator

GM Billing Specialist

GM Setup Specialist

GM OSP Setup Specialist

Ownership

The Director, Investment and Tax Services (ITS) is responsible for ensuring that this document is necessary, reflects actual practice, and supports University policy.

Award Types Covered

Type	Description
DR	Gifts - Donor Restricted
DU	Gifts - Donor Unrestricted
ER	Endowment Restricted
EU	Endowment Unrestricted
LP/SP	State Plant Capitalizable Projects
LP/SP	State Plant Capital Outlay Projects
LP/SP	State Plant Renewal, Replacement, Expansion Reserves

Create or Modify Installment

1. Installment modifications are made based on the monthly installment report run by ITS and the monthly imputed interest investment report run by ITS.

If an award installment is to be reduced, the GM Project Manager must FIRST reduce the award and project budgets to a level equal to or less than the new award installment. Then, the GM Award Manager may reduce the project's funding .

2. The Installment Modification Number (ICOM#) will begin with the letter “D” for all gift installments and begin with the letter “I” for all imputed interest installments. The letters will be followed by the next subsequent number in the series of installments for that award

3. Open the Award Management Screen and find the award to be increased or decreased.

4. Scroll to the right in the Installment region to the Direct Cost field. Enter the revised (new) total installment amount (not the amount of the change) in the 'Direct Cost' field. This is the only field that should be changed on the actual installment line.

Note: You can also reach the 'Direct Cost' field with the keyboard by continuing to press the Tab key beyond the 'Close Date' field in the 'Date' Alternate Region.

5. Click the Flexfield Indicator to open the GMS Installments DFF.

6. Users must complete these fields carefully. The Flexfields will open with the information from the prior installment modification still populating the fields. The new data must be entered into the DFF in order to store the information correctly in the IS database tables.

7. Enter the following in the Flexfields:

Modification Number – enter the ICOM# assigned in step 2 above. This will allow the database trigger to sort for all the awards modified with this particular ICOM#. ITS requires that this field be updated with each installment modification. But, it is not a field required by IS.
Modification Type – Enter the commitment type from the List of Values. The possibilities include:

Full Name	Description
ITS-Gift	Used to make a permanent adjustment to an installment for the receipt of a new gift.
ITS-Refund	Used to make a permanent adjustment to an installment for the refund of a gift to a donor. (This will decrease the installment.)
ITS-Transfer In	Used to make permanent adjustment to an installment for transfers in.
ITS-Transfer Out	Used to make permanent adjustment to an installment for transfers out. (This will decrease the installment.)
ITS-Endowment Income	Used to make permanent adjustment to an installment for endowment income received.
ITS-Imputed Interest	Used to make permanent adjustment to an installment for investment in the imputed interest program
ITS-Other	Used to make permanent adjustment to an installment for any other reason than those mentioned above.

FTE – ITS users should leave this field blank; it is not required for ITS purposes.
Is This a Negative Installment? – Use this field to indicate whether an installment amount should be read as a negative number for reporting purposes. Since a negative installment cannot be entered in the award installment line, the system gains some flexibility to enter an award and designate that it is negative by selecting “Y” in this field. It is expected that this field will be “N” in most situations involving gift installments but will be “Y” in most imputed interest installments, transfers out and refund transactions {WMR & CM: Can we be more precise about exactly when to use the 'Y' and 'N?'}.
Description – Use this free form 150 character field to write a detailed description of the change. Please note the date of the change, the report and the month of the report being used for the installment change. For example, a gift deposit from the December 2001 installment report installed in January should be listed as “10-Jan-02 Dec01 Gift Installment”.

Note: These Flexfields are to be used only by the Office of Sponsored Programs:

Carry Forward
Modified Start Date
Direct Cost FY02
Indirect Cost FY02

8. Double check your work before exiting the screen. It is not easy to make changes.

9. Click “OK” on the Flexfield screen.

10. Save your work.

Effective: 03/30/09

Revision: 4 dhw

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