Restricted Account Status Reports

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Restricted Account Status Reports

• November 29, 2001

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Account Status Report-General Information-

• Official financial statement for contracts and
  grants awarded to the University
• Budget and expenses are accumulated on a grant
  and/or project year basis
• Current month expenses and obligations are shown
  in detail
• Report is distributed approximately five working
  days after month end

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Account Status Report-Major Sections-

• Header
• Fund Balance
• Revenue
• Direct Costs - by object code
• Indirect (FA) Cost Recovery
• Indirect Recovery - UGARF (as applicable)

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Header Information
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Fund Balance

• Balance Forward (A-1) - ending balance from the
  previous month end
• Restricted Acct Rev/Fund (A-3) - revenue recorded
  for the current month
• Indirect Cost Recovery (A-4) - amount of indirect
  cost which is returned to UGARF
• Cash Receipts- payments issued by the funding
  agency for services performed (not shown in this
  example)

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Fund Balance - Example
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Fund Balance - Balance (A-5)

• Federal LOC Awards - equals fiscal year year to
  date expenses minus posted cash, balance should
  be zero or positive
• Other Federal Awards- equals current cash
  balance, balance is zero or positive
• Non-Federal Awards - equals current cash balance,
  positive (expenses exceed cash receipts) or
  negative (cash exceeds expenses)

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Revenue

• Revenue for a restricted account is equal to
  total UGA expenses
• Revenue object code (42XXX) is associated with
  sponsor type (federal, state, cities counties,
  private)
• In most cases, budget figure is positive (B-1)
  monthly/total figures are negative(D-)

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Revenue - Example
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Direct Costs - by object code

• Direct expenses for the project are posted to
  individual object codes
• Obligations and encumbrances are posted to
  individual object codes
• Budgets for direct expenses are posted to summary
  object codes

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Direct Costs - by object codeExample
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Indirect (FA) Cost Recovery

• Indirect Expense (E-7) equals the total
  indirect costs recovered by the project
• Monthly Expense (E-8) calculated and posted by
  the system to object code 92000 (monthly direct
  expenses X indirect rate)
• Indirect Budget (B-9) equals the total indirect
  funding awarded by the sponsor

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Indirect (FA) Cost RecoveryExample
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Indirect Cost Recovery-UGARF

• Indirect-UGARF Expense (D-4) the portion of
  indirect recovery which is returned to UGARF
  (should be a negative number)
• Monthly Amount (D-5) calculated and posted to
  object code 92500 monthly
• Indirect-UGARF Budget (B-10) portion of total
  indirect awarded by sponsor that is returned to
  UGARF (should be a positive number)

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Indirect Cost Recovery-UGARFExample
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Calculate Total Expenses- Utilizing Total
Expense Figures
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Calculate Total Expenses- Utilizing Detail
Object Code Amounts
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Calculate Total Budget- Utilizing Summary Budget
Object Codes
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Calculate Total Budget- Utilizing Detailed
Budget Object Codes
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Calculate Total Balance- Utilizing Summary
Budget Object Codes
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Calculate Total Balance- Utilizing Detailed
Budget Object Codes
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Calculate Total Commitments Obligations
Utilizing Total Amounts
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                                           Tracy
Walters, Director 706-542-3721 / 706-542-6883
(fax)                                           
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
           
                                                
                                                  
                                           
Controller Finance Administration
University of Georgia http//www.busfin.uga.edu/
contracts_grants/index.htmlLast
updated November, 2001
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Tracy R. WaltersDirectorContracts and
Grants542-6889twalt01_at_arches.uga.edu