Contracts and Grants Accounting
MANAGING AWARD FINANCES
For new awards, the PI and RA receive an email once the fund has been activated. To initiate spending:
Transfer personnel costs by updating the earnings distribution ChartStrings for payroll (or % of salaries)
Update BearBuy “Profile Management” so that the PI, RA and designated others can purchase using the award fund - Read more about purchasing in BearBuy.
be sure to use the correct Accounts when establishing Purchase Orders for subawards
Process 7xx transfers and earning distribution chartstrings to correctly track cost sharing expenses to the Cost Share CF1 value as these costs are incurred
Direct expenses, overhead (F&A), and revenue are calculated daily and posted to the General Ledger. Payroll costs (salary, benefits) are updated monthly and typically post to the GL by mid-month.
- PI Portfolio provides a “layman’s view” of award financials, with spent-to-date totals for each fund current as or the prior business day (or mid-month for payroll).
- BAIRS Reporting provides financial data through a variety of reports. Also, new BAIRS reports provide specific information for sponsored awards.
If excessive spending results in an overdraft on a cost reimbursable award, CGA places sponsor billing on hold until the department clears the overdraft (see Revenue and Accounts Receivable Collections). Occasionally an audit of award spending may be requested: follow the instructions provided on Managing an Audit.
Program Income -- notify CGA when it is determined that award activities generate income. CGA will set up a new Program Income CF1 value to use to track these expense and income transactions. Read more about Program Income.
Membership Programs -- when a new sponsor is added to an existing Membership Award/Project, SPO will notify CGA and an additional contract will be created/added to the existing “master” Membership-- read more about Membership Programs.
Fabricating Equipment - UC Property Management has special Government Contract and Grant Equipment Requirements - be sure to read about Fabricated Equipment Costing.
Budget Revisions and Updating Award ChartStrings
Occasionally it is desirable to revise budget allocations to track expenses differently (i.e., when a new Co-PI joins the project, or travel is required). Whenever a new ChartString is needed/created for use with a C&G fund value OR a Cost Sharing CF1 value, CGA must update BFS and the Interface Mapping Table in order for the new ChartString to function properly. Unmapped ChartStrings will return errors for BFS journal transfer and/or in interfacing systems.
Submit a Budget Template when reallocating award funds to a new ChartString
To reallocate funds to a new chartstring (i.e., not just redistributing funding between existing chartstrings) submit a new budget template to CGA showing 1) the chartstring the funds are moving from (and the amount as a negative) and the new chartstring the funds are moving to (with the same amount as a positive). Like all budgets, the balance of the amounts must be zero to upload correctly.
Unless the sponsor’s requirement differ, it is not necessary to revise the budget for modular awards, so long as the total award amount does not change.
Submit a Budget Template when new funds are authorized or the award is modified
Submit a new budget template to CGA when a new funding period or amount is authorized by the sponsor, or the award agreement has been modified by SPO (such as when a new subaward is authorized). Submit a budget revision using the same form and following the same process used to create and upload an initial award budget, i.e., begin with an Unallocated Funds line and allocate to expense lines. The accounting date for the new budget submission should be the date the additional authority to spend is received.
When a revised budget is received, CGA will update BFS and the interface mapping table within two business days (provided the information CGA receives is complete and accurate). When the revision/update is complete, CGA will notify the PI and RA that spending against the new budget/chartstrings may begin.
Accounts Receivable and Revenue Recognition
Each month CGA prepares and issues invoices to award sponsor in accordance with the terms and conditions of each award. Revenue is recognized as the expenditures are incurred for both cost reimbursable and payment schedule awards. For fixed price contracts, revenue is recognized based on milestones. Read more about Revenue and Accounts Receivable Collections.
Help us to deliver information to the correct people! Please keep CGA informed when staff and assignments change:
Research Assistants: When assignments change, notify the CGA Analyst assigned to your service area to update award information with the correct RA contact. To identify your CGA contact, go to BFS and select the RA Grants Workcenter>Award Profile (under Award Information)>enter UCB Award/Contract Number in the Award ID field or the Fund number in the Fund Code field
CSS-RA Managers and Supervisors, CAOs, Chairs, Deans, Effort Reporting Coordinators: The BFS RA Grants WorkCenter allows you to update your contact information directly. For step-by-step procedures, see the CGA Department Contact Maintenance presentation (PDF).
Principal Investigators: Contact the SPO Office(link is external) for changes in affiliation and absences