Fund Management and Closeout
Q. Has my award been received, processed and appropriated?
A. Upon receipt and acceptance of an award by UC Merced, the Sponsored Projects Office (SPO) emails the principal investigator, departmental research manager, school management services officer and Research Accounting Services (RAS) notifying them of the award. If you have questions about the status of your award, please contact SPO at firstname.lastname@example.org.
The financial accounting unit (FAU) is created and the budget is appropriated once RAS has received all necessary documentation, including a list of account(s) and cost center(s) to be linked and the current, approved budget. The FAU can be viewed in the financial system once it has been appropriated. Any questions regarding fund setup or appropriation should be directed to RAS at email@example.com.
Q. Have the funds for my award been received from the agency?
A. First, review the Fund Balance by Fund under the Financial Systems tab of the UCLA Financial Web Reports. The Inception to Date Revenue indicates the total revenue invoiced/received to date. If the entries in the revenue account note the entry was posted by Cashiering, then this is actual cash received. If the entries are accounts receivable, this is the amount that has been invoiced to date. To view the invoice amounts that have been received, return to the Financial Systems Summary and choose Account Summary by Account for the accounts receivable account assigned to the fund being reviewed. A negative balance indicates amount owed to UC Merced. A positive balance indicates the funder has paid more than invoiced. That can happen for any number of reasons. Any questions regarding funds received should be directed to firstname.lastname@example.org.
Q. How is a UC intercampus subcontract paid?
A. First, the Office of Research must send the corresponding UC campus a notification of award (NOA). Upon receiving the NOA, the corresponding UC campus sets up an FAU, then bills RAS monthly via intercampus requests for funds. RAS prepares an intercampus financial journal to transfer the requested amount. RAS must complete an online rebudgeting of funds from its main expenditure account to the 119850 account for the total subcontracted amount.
Q. Why is the overhead on my fund not being charged correctly?
A. Departments are responsible for reviewing ledgers each month. If there is a discrepancy in the overhead being charged, please prepare an overhead-reconciliation spreadsheet detailing the correct overhead charge. Email the spreadsheet to email@example.com.
Q. There are expenditures that are applicable to budget year one, but are posted to the general ledger after the budget end date or are not yet posted at the time of invoicing (final) or reporting (final at fund end). What is considered appropriate and sufficient?
A. For non-payroll expenses, a copy of the invoice from the vendor or subcontractor is required to be submitted to RAS. For payroll expenses, a list of approved UPAYS is required. Note that for interim annual reporting, the procedures including such expenditures are applicable to the awards with carry-forward restriction only. For the awards with automatic carry forward, only the expenditures posted to the general ledger for the budget year are to be reported without an exception.
Q. What documentation should be submitted to RAS for cost-sharing contribution?
For mandatory cost sharing and voluntary committed cost sharing, cost shared expenses must be tracked and reported to the sponsor. The UC Merced cost sharing contribution report and appropriate supporting documentation are required to be submitted to EFM for reporting.
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