Sponsored Programs Administration (pre-award)

By June 21, 2015

The following section describes the functions that VU desires in Sponsored Programs Administration both pre and post award. Using these points as a framework, please describe or demonstrate current or planned modules that would support these processes. The portion of time that is allotted to this section of the demonstration is insufficient to show all of the functions described, and it is not expected that every function will be shown or even available at this time. Rather, this information is provided so that our desires in this area are very clear and we leave it up to your discretion to show the most pertinent aspects of your current or planned modules.
Background: The Sponsored Programs application must support the administrative functions of monitoring, reviewing, and reporting all activity and expenses for special projects, contracts, gifts, and grants awarded to VU. The broad category “project” is intended to accommodate special accounting and record keeping that may be outside the generic chart of accounts and is likely to span fiscal years.
The integration with other financial management information should provide automatic control and updating of revenues, expenses, encumbrances, assets, and personnel funded by grant, gift, or project monies.
The Sponsored Programs application should be able to report project revenues and expenses in both summary and detail form for each specific grant, contract, gift, or project. Project information is used internally to control restricted budgets, assist with the preparation of applications, and accurately report to the revenue sources according to the rules defined by the award.
Grants and Contracts Pre-award
VU’s faculty is extensively involved in sponsored program activities. A large amount of faculty and staff time goes into identifying sources of funding, developing proposals, securing departmental and institutional approval, and the eventual submission of proposals to sponsors.
• Faculty2 has developed a draft of a research project but needs assistance in identifying potential sources of funding. Describe how the P.I. can search the web for research funding opportunities. (e.g., Community of Science, Spon, etc.).
• Describe how notifications of RFP opportunities can be identified and distributed electronically to faculty based on a set of faculty discipline attributes.
• Describe how proposed budget figures can be accessed and developed into projections of future funding and indirect cost recoveries.
• Describe how project abstracts can be queried in order to sort or locate all proposals dealing with a particular research subject.
Faculty2 in Dept1 is preparing a proposal to submit to the National Science Foundation.
• Describe how the system will provide on-line templates for the proposal in formats specified by the funding agency for grant proposals. The demonstration should include the use of “Smart Budget Templates” that integrate with other information or systems to supply needed personnel/payroll, effort reporting, fringe benefits, tuition remission, indirect cost rates, etc.
• Discuss the inclusion of VU specific boilerplate language required in all proposals, including institutional certifications.
• Describe how necessary faculty and staff information from other systems (i.e. Human Resources) can be integrated into the proposal, including C.V., a listing of all current funding for each PI, etc.
• Discuss how attachments can be integrated into the proposal so that the quality and integrity of texts, diagrams, charts, and scientific notations will be maintained through transmission to the sponsor(s)?
• Faculty from several departments are working on preparation of the proposal. Describe how workflow technology will allow multiple users to work on various sections of the proposal at the same time.
• Discuss how the system will allow the proposal to be cloned for submission to multiple sponsors, meeting individual sponsor format requirements.
• Describe any differences in how the system handles contracts as opposed to grants.
• Describe how VU will be able to accommodate multi-institution proposals with varying salary, fringe benefit, and indirect cost schedules.
• Explain how the proposal will be flagged for the required approval of protocols affecting human subjects or animals, and how the electronic routing of the necessary protocols to the appropriate Institutional Review Board for approval and back to the Principal Investigator for inclusion in the proposal would take place.
• Describe electronic routing of the proposal for approvals to Dept1 and Dean prior to submission to Business.
• Explain the return of the electronically approved proposal to Business. How will an identification number be automatically assigned to the proposal for tracking?
• Discuss the capability of the system to route draft and final proposals to other identified University offices (i.e., Development Office, CFO, etc.) for FYI purposes).
• Describe the submission of the proposal electronically to the proposed sponsoring agency.
• Explain the system’s full proposal tracking system including proposals submitted, proposals rejected, proposals still pending with sponsors, awarded proposals, etc. This information should be available by school, by PI, by discipline, etc.
• Describe how PI’s, department chairs, and/or deans can query the system to determine the number of proposals and funded grants in which individual faculty members/staff members are involved in order to determine the time frames of their involvement, and effort commitments.
Award Processing
• Business has received notification that a proposal has been funded. Discuss the ability to convey the proposal information electronically to the Business accounting office to use in setting up the account.
• Describe the ability of Business to electronically receive and forward the award notice to designated areas (Sponsored Programs Accounting Office, PI or PI’s, departments, areas such as the EVP or Provost, various oversight committees, etc.).
• Explain how the system handles receipt of award notice regardless of where it comes into the system. It is possible that in the future, award notifications may not always come to a central office or the same central office.
• Explain the ability to upload proposal information to flexible templates for comparison to the award information.
• Discuss the ability to modify proposal information including the proposal budget to actual award information.
• Describe the ability to use award information to create account attributes to be entered into the system, which are used for various reporting requirements. These include the following:
• University account number
• Agency/Donor
• Principal Investigator
• Account title
• Nature of Award
• Project Dates (from/to)
• Award dates (from – to)
• School/Department
• Proposal Number
• Purpose (research, training)
• Overhead Rate
• Donor ID #
• Source (gov’t, coml, fdn)
• Overhead Formula
• Document Number
• Distribution codes
• Billing Cycle
• Award Number
• Security codes for on-line access
• Previous account number
• Award Amount
• Report Code
• Type of Regulation
• Report Due Date
• Name, Title, etc., of sponsor
• recipient of report
• Grant Specific
• Validation Rules
• Account Manager
• Describe the ability to extract budget data from award data for automatic conversion from agency format to VU format and upload to the G/L (real time/on-line) along with defined restrictions.
• Explain the ability to scan in special Terms and Conditions of award documents for on-line viewing.
• Describe the ability of the system to electronically create form information entered at the account create stage and forward an account opening letter to designated VU personnel. For major sponsors, the opening letter should be tailored to include information on the agency’s guidelines and spending restrictions.
• Describe the ability to route, electronically, a signature authorization form to designated individuals for each account set-up.
• Describe the ability to map sponsor cost categories to VU cost categories (1 to 1, 1 to many, many to 1).
Tracking and Data Management
• Explain how the use of workflow technology allows multiple users to work on and query the same proposal, award or account at the same time with varying security levels.
• Provide on-line and create additional screens or fields, when appropriate, to provide the following information:
• Names of PI and Co-PI’s
• Name of Sponsor
• Type of Award (contract/grant)
• Reporting Periods
• Account Manager
• General and Special Terms and Conditions of Award(e.g., report requirements, carryover)
• Optional User-Defined Areas
• Describe the ability to query all grants from a sponsor, for a PI, department, institute, etc.
• Describe the ability to provide reports (including ad hoc reports) based on various time periods which include: Fiscal Year to Date, Project to Date, Quarterly and User-Specified Period.
An award has been received from the Department of Defense (DOD) to build a large piece of equipment. The award will be divided into two phases, fabrication and testing. The agency requires that expenditures claimed in monthly billings be reported by these categories.
• Describe the ability to add user-defined categories and to provide reports based on functional categories for budget and expenditure items.
• Explain the ability to provide user-defined reports at the transaction level for the specified time periods and for the duration of the project.
A sponsored program has been awarded in three budget increments, the original award and two amendments as follows:
ORIGINAL AMEND 1 AMEND 2 TOTAL
Dates 7/1/95 to 6/30/96 7/1/96 to 12/31/96 1/1/97 to 12/31/97
IDC Rate* 40.50% 41.00% 40.50%
Salaries $100,000 $60,000 $120,000 $280,000
Fringe Benefits $18,000 $10,800 $21,600 $50,400
Supplies $15,000 $8,000 $16,000 $39,000
Equipment $0 $9,000 $0 $9,000
Indirect Costs $53,865 $32,308 $63,828 $150,001
TOTAL $186,865 $120,108 $221,428 $528,401
*Based on direct costs less equipment
• Discuss the ability to enter the original budget and each amendment into the system on-line real-time.
• Discuss the ability to track each budget document to the award document and the proposal document.
• Discuss the ability to notify the PI, any Co-PI’s and the appropriate department or school of the budget changes.
• Explain the ability to track the indirect cost rate over the life of the project matching the rate, base and type with the appropriate dates.
• Describe the ability to forecast spending from the current period though the grant close out based on historical spending patterns in prior months for an individual account.
• Describe the ability to include user-established encumbrances in the forecasting process.
• Explain the ability to provide short-term forecasts such as the cash needed for letter of credit draws.
Post-Award Grants Management
Sponsored Programs Accounting Office needs to establish validation rules for an account and apply them to the fund approval process.
A professor has received an award from a private sponsor. The sponsor does not allow expenditures for clerical salaries or office supplies. The PI may spend 10% in excess of any individual budget category without the sponsor’s approval, but may not exceed the budget in total.
• Explain how to establish validation rules based on the funding agency (e.g. ability to group object codes which tie to sponsors categories; allow certain percent over budget line not to exceed total budget dollars – bottom line, exclude office supplies).
• Discuss an override capability at the Sponsored Programs Accounting Office level with appropriate authorization. Other areas such as a school or department with the appropriate authorization may also use override capability.
• Explain the ability for the system to check requested charges against grant specific Terms and Conditions established during the account set-up (e.g. grant for salaries only).
• Explain how charges are flagged when an account or object code is overspent or expired and notify appropriate personnel.
• Discuss the availability of on-line help when an expenditure is flagged. This should include links to the budget policies for various agencies and a point of contact for questions and assistance.
Principal Investigator is incurring monthly charges on his research account. The charges include monthly charges of $2,000 for salaries and related fringe benefits of $585. The PI is also incurring various monthly charges for lab supplies and travel. The award for this grant applied indirect costs using a rate of 26% of direct costs for the first six months of the project and a rate of 42.5% of salaries and wages for the next six months.
• Describe the ability of the system to calculate indirect costs.
• Explain how the system will automatically update the indirect cost rate for the latter six months and apply the new rate to the project at the appropriate time.
• Discuss the ability to calculate indirect costs using various rates and bases with flexibility in choice of object codes used in the indirect cost calculation.
• Discuss the ability to automatically reduce the related indirect cost commitment when expenses are actualized.
• Describe the ability to track the on-line daily overhead calculation and reduction of the overhead encumbrance.
The various campuses at VU may return a portion of the indirect costs recovered to the Department, School or Institute, which brought in awards to generate the indirect cost. Assume that each area recovers indirect cost based on 12% of the total indirect cost recovered by the Department, School or Institute.
• Allocate the indirect cost recovery to the appropriate School, Department or Institute. Describe how the system will handle the indirect cost recovery for awards with Co-PI’s from different departments.
• Discuss the ability to project the indirect cost recovery by School, Department or Institute monthly and on demand.
An award is received in the Office of Sponsored Programs, which extends the award end date and changes the indirect cost rate from 40.5% of direct cost to 42.5% of direct costs. The effective date of the change is January 1, 1998 and the award was received on April 3, 1998.
• Describe the ability to calculate the retroactive change to the indirect costs for the above award for the expenditures incurred between January 1,1998 and April 3, 1998.
The indirect cost for an award is calculated as 41.5% of direct cost excluding the first $25,000 of expenditures for each subcontract. The award is for a project that has 3 subcontracts that will all exceed $25,000.
• Explain the calculation of the indirect costs for the above project.
• Discuss how the system will identify each subcontract and track the indirect cost charges that should be applied.
The Chemistry department needs to purchase a piece of equipment on a grant for which it has no equipment budget. The awarding agency on this grant has given VU prior approval authority to re-budget funds for this type of activity. Demonstrate the ability of the system to handle this re-budget request. The Office of Sponsored Programs must approve the re-budget request.
• Explain how the system will provide a standard re-budgeting request form on-line for departments to enter re-budget requests for both federal and non-federal accounts. The ability to enter justification for the budget adjustment must be included.
• Describe the workflow ability to designated departments for electronic approval depending on the budget modification requested (Prior Approval System (PAS) or non-PAS).
• Describe the ability to up load the approved budget modification into the accounting system on-line, real time.
• Describe the ability to track cumulative changes to the original budget or the most recent agency approved re-budget. Also discuss the capability of the system to restrict cumulative changes by a percentage of total budget.
Compliance and Reporting
Sponsored Programs needs to establish a tickler file for external and internal reports that are required during the life of a particular award.
• Explain the ability to produce an automatic and on demand listing of reports due each month by proposal number for non-financial reports (e.g., progress reports, technical reports, narrative reports, patent and property reports) for the Office of Sponsored Programs and the various departments and institutes.
• Describe an automatic monthly and on demand listing of fiscal reports due to the sponsor, based on account’s expiration date and annual due dates.
• Describe a report for grants that require a cost sharing contribution. Explain the system’s ability to log the completion of required cost sharing.
• Discuss the ability to generate warning reports 90 days prior to expiration date of an account and electronically notify designated individuals that the grant will be expiring in 90 days.
• Explain the ability of the system to establish internal reporting requirements.
A department wants information on faculty awards. The department chair is interested in the total proposals submitted and the status of the proposals (i.e. denied, awarded, pending). Since several faculty members of the department are Co-PI’s on awards in the Institute for Environmental Science, the chair wants to be sure these proposals are included in the report.
• Discuss the ability to perform ad hoc reporting on user defined fields. Include a report that shows the system’s ability to provide information across fiscal, calendar and project years.
• Describe the ability to provide on-line a set of standard queries on sponsored activity.
Two Departments submitted a joint proposal, which has been funded by NSF. NSF has assigned the Department a campus Letter of Credit entity number to the award for drawing funds.
• Describe the ability to track project expenditures which cross campuses as well departments or institutes.
• Describe how the cash balance is tracked and funds are allocated from the Letter of Credit.
The continuation award document on an existing project is late. The document will provide for additional funding and an extended end date. The University has agreed to allow the Principal Investigator to continue spending until the award is received. The original award is for $100,000. It is estimated that the PI will exceed this amount by$20,000 at the time the award is received. Since the award is funded by letter of credit, VU cannot draw funds from the agency until the award is received.
• Explain the ability to handle the $20,000 of expenditures without the need for temporary accounts or cost transfers when the continuation award is received.
• Describe the letter of credit transactions to fund the $20,000 once the award is received.
Principal Investigator has incurred the following expenditures on her research grant in the current month. Salary of $3,000, related fringe benefits of $880, supplies of $500, travel of $1,500 and related indirect cost of $3,263. Describe the ability to automatically produce an invoice from this information.
• Discuss the ability to create invoices automatically for designated cost reimbursable grants and contracts from information already provided from the accounting system.
• Describe the ability to support more than one type of billing format.
• Discuss the ability to support varying billing periods (e.g. current month, quarterly, user-defined).
• Describe the ability to convert information from the accounting system to sponsor-defined expenditure categories.
• Describe the ability to modify data that is retrieved from the system (e.g. indirect cost adjustment, additional expense).
• Explain the ability to set up an account receivable automatically in the system once the billing has been approved.
• Explain the ability to combine charges on several accounts for the same agency or organization so that a single invoice can be automatically prepared.
The University has awards from several sponsors which allows VU to request reimbursement on an aggregate basis. An attribute entered during the account create function identifies the sponsor.
• Describe the ability to automatically accumulate the expenditures by sponsor for these grants or contracts.
• Discuss the ability to support the use of actual expenditures and automatic processing to identify the Letter of Credit draw down amount for designated agencies.
• Discuss the ability to facilitate drawdowns via electronic means for select funding sources.
• Describe the ability to automatically distribute the funds received via Fed wire or ACH to the proper account.
• Produce a report by agency, sorted by agency award number to be used in preparing the federal agency’s monthly/quarterly reports.
Five invoices have been submitted and have automatically been set-up as a receivable in the accounting system. They were for five consecutive months with amounts of $100, $200, $300, $400 and $500 and were invoiced number 1 – 5. Only invoice number 1 in the amount of $100 has been paid to date. Discuss the account receivable functionality of the system.
• Discuss the ability to produce an on demand accounts receivable aging report by account and/or agency before and after payment of invoice number 1.
• Discuss how receivable tracking can be supported by receivable exception reporting which would automatically flag all invoices over a certain age (e.g. 90 days) and produce an automatic dunning letters of increasing intensity.
• Describe the ability to match receipts through EFT, Lockbox and transmittal of deposits with related receivable within the system.
• Describe the ability to produce a report that flags all invoice payments that do not agree with the amount invoiced and set-up by the system (e.g. $50 was received against an invoice which was billed at $200); “net” receivable should be displayed.
The University has received a research grant that requires VU to cost share the amount of 10% on the awarded amount of $100,000.
• Discuss the ability of the system to track and monitor cost sharing.
• Describe the ability to track cost sharing expenditures specific to an individual grant or contract.
• Describe the ability to produce a cost sharing report on demand for a specific grant or contract that details the expenditures and their related detail.
• Describe the ability to provide support for the certification of effort reports.
• Describe the ability to forward reports and receive electronic approvals from the PI.
• Discuss the effect of payroll changes on the Effort Reports.
A grant has expired and Sponsored Research needs to begin the account close-out process. Demonstrate the ability of the system to assist in the close-out process.
• Describe how to generate a close-out worksheet with current budget and expense data down-loaded to a file for individual and consolidated accounts.
• Describe how to produce a report of expenditures which lists all activity to the account processed after the account expiration date with allowable activity automatically updated to worksheet.
• Describe how to print a report for analysis of open commitments with allowable activity automatically updated to worksheet.
• Discuss how to create a report which can detail all equipment purchased on the grant / contract.
• Describe the ability to produce sponsor reports based on information from finalized worksheet.
Grants and Contracts Billing
Faculty2 has incurred the following expenditures on a research grant in the current month: Salary of $3,000, related fringe benefits of $880, supplies of $500, travel of $1,500 and related indirect costs of $3,263.
• Describe the ability to automatically produce an invoice from this information.
• Describe the capability to create invoices automatically for designated cost reimbursable grants and contracts from information provided from the accounting system. Demonstrate how to create the same bill within a variety of billing formats/ templates.
• Describe support of varying billing periods (e.g. current month, quarterly, user-defined).
• Describe how to combine charges on several accounts for the same sponsor so that a single invoice can be automatically prepared, and so that the sponsor only has to remit one payment.
Dept1 and Dept2 submitted a joint proposal that was ultimately approved and funded by the National Science Foundation. NSF has assigned one Letter of Credit entity number to the award for drawing funds.
• Describe the ability to track project expenditures which cross campuses as well as departments or institutes.
• Describe how the cash balance is tracked and funds are allocated from the Letter of Credit.
• Describe how the system supports billing and collect under the Federal Draw-Down payment process. Show how your system will:
• Use actual expenditures paid to automatically process the Letter of Credit draw down amount for designated agencies.
• Facilitate draw downs via electronic means for select funding sources.
• Automatically distribute the funds received via Fed wire or ACH to the proper accounts.
• Produce a report by agency, sorted by agency award number, to be used in preparing the federal agency’s monthly/quarterly reports.
Faculty2 is going to conduct a Phase 1 clinical trial for a pharmaceutical company. There are to be 20 patients enrolled. The fee charged is $5,000 per completed patient report plus 25% for indirect costs. In addition, the company will make an advance payment of $25,000 to be credited against the total amount due from the company.
• Explain how the accountant in Business establishes the customer account template, in order to appropriately bill for this study.
• Explain how the billing is performed in order to collect the initial $25,000.
• Describe what happens to the receivables’ module and Dept1’s study account when the check is received, to include distributing the funds between the direct and indirect cost portions of the budget.
Faculty2 informs Business that six completed patient reports have been submitted to the company.
• Explain how Business bills, collects and records the payment.
• Describe what the account for the study looks like after the payment is recorded.
The company rejects one of the patient reports. Faculty2 indicates concurrence. The company wants appropriate credit on their account for the overpayment; they do not want a check.
• Describe how Business processes the credit and the effect on the Dept1 study account and the company’s account with VU.
General Conditions
• Discuss how this system may be audited. Are there any automated audit features?
• Describe how Fisadmin can access the billing and collection information for Dept1, but be restricted from viewing information for Dept2.
Project Costing
The Institution needs to standardize the project costing process. The process will be maintained in a centralized project database that tracks various projects for research grants and construction contracts, under one system. It will reduce the cost and effort of project data collection and transaction processing, while improving the timeliness of information provided through automated processes and integrated systems.
Set up Projects
• Describe the ability to set up three types of projects. One is a capital project with non-capital expenses, another is an expense project, the third is a project where all or a portion of costs are billed to other departments or schools. Describe the ability to use standardized project templates and customize them according to specific project requirements.
• Discuss how to enter and update data: project description, project budget and code, Milestone dates, authorized amounts, commitments, estimated time to complete, project status etc.
• Discuss the ability to enter one or more fixed asset identification (asset number(s), locations etc.) at each sub-level at the time the project is set up.
• Discuss the ability for the system owner to control which fields are mandatory vs. optional.
• Discuss the ability to support various types of projects and project structures up to five levels of detail (e.g., the status of research and construction).
• Describe the use of estimates in a recurring job.
Maintenance of Project Costing Records
Transactions and corrections entered into other modules, e.g., Fixed Assets, Labor Distribution, Purchasing, etc., should automatically interface into the Project Costing module.
• Describe the ability to interface data that can be traced to projects (data with project number and tasks) from various transactional systems.
• Purchase – commitments
• Accounts Payable – charges, time and expenses
• Payroll – project related labor usage / Effort Reporting System
• Accounts Receivable
• Other Systems
• Explain the ability to carry forward project details from current year actual, budget, and committed costs for multi-year projects (capital and expense projects).
• Describe the ability to track different user-defined categories of projects (construction, fixed assets and acquisition of assets).
• Discuss the ability to segregate projects and jobs of different schools and departments.
• Discuss the ability to collect/accumulate capital and expense costs for an individual project. System must provide the ability to track each separately.
• Describe how project costs of a non-capital nature (as defined by the user) can be charged off to expense, while the project remains open.
• Explain the ability to allocate overhead to projects including the use of multiple overhead rates with their own rates and application bases.
• Discuss the ability to include and exclude costs from the application base.
• Discuss the ability to allocate overheads by organization level.
A Principal Investigator is incurring monthly charges on a research account. The charges include monthly charges of $2,000 for salaries and related fringe benefits of $585. The PI is also incurring various monthly charges for lab supplies and travel. The award for this grant applied indirect costs using a rate of 26% of direct costs for the first six months of the project and a rate of 42.5% of salaries and wages for the next six months.
• Discuss the ability of the system to calculate indirect costs.
• Explain how the system will automatically update the indirect cost rate for the latter six months and apply the new rate to the project at the appropriate time.
• Discuss the ability to calculate indirect costs using various rates and bases with flexibility in choice of object codes (natural accounts) used in the indirect cost calculation.
• Discuss the ability to automatically reduce the related indirect cost commitment when expenses are actualized.
• Explain the ability to track the on-line daily overhead calculation and reduction of the overhead encumbrance.
• Discuss the system’s capability to stop indirect cost recovery when the recovery exceeds the budgeted indirect cost in a project. Also demonstrate the ability to end the overhead allocation to a project if the project budget is at zero (i.e. show ability to create an upper limit to the allocation).
The Institution may return a portion of the indirect costs recovered to the Department, School or Institute that brought in awards to generate the indirect cost. Assume that each area recovers indirect cost based on 12% of the total indirect cost recovered by the Department, School or Institute.
• Explain the allocation of the indirect cost recovery to the appropriate School, Department or Institute. Describe how the system will handle the indirect cost recovery for awards with Co-PI’s from different departments.
• Discuss the ability to project the indirect cost recovery by School, center, unit, or department monthly, on a fiscal year basis and on demand.
An award is received in the Office of Sponsored Programs which extends the award end date and changes the indirect cost rate from 40.5% of direct cost to 42.5% of direct costs. The effective date of the change is January 1, 1997 and the award was received on April 3, 1997.
• Explain how to calculate the retroactive change to the indirect costs for the above award for the expenditures incurred between January 1,1997 and April 3, 1997.
The indirect cost for an award is calculated as 41.5% of direct cost excluding the first $25,000 of expenditures for each subcontract. The award is for a project that has 3 subcontracts that will all exceed $25,000.
• Discuss the calculation of the indirect costs for the above project.
• Explain how the system will identify each subcontract and track the indirect cost charges that should be applied.
A department needs to purchase a piece of equipment on a grant for which it has no equipment budget. The awarding agency on this grant has given prior approval authority to re-budget funds for this type of activity. Demonstrate the ability of the system to handle this re-budget request. The Office of Sponsored Programs must approve the re-budget request.
• Describe the ability to provide a standard re-budgeting request form on-line for departments to enter re-budget requests for both federal and non-federal accounts. The ability to enter justification for the budget adjustment must be included.
• Describe the workflow ability to designated departments for electronic approval depending on the budget modification requested (Prior Approval System (PAS) or non-PAS).
• Explain the ability to up load the approved budget modification into the accounting system on-line, real time.
• Discuss the ability to track cumulative changes to the original budget or the most recent agency approved re-budget. Also describe the capability of the system to restrict cumulative changes by a percentage of total budget.
Project Close-out
Project management personnel enter closing notifications. Fixed asset information should be transferred to Fixed Assets system via notification that the assets are productive. Projects that meet all requirements or are inactive and remain open for a certain length of time should generate a notification to the appropriate person requesting closure.
• Explain the ability to close a project on-line after the standard closing procedures are completed.
• Describe how data is transferred from the Project Costing system to the Fixed Assets system.
• Describe the ability to cancel capital projects and generate automatic journal entries to transfer costs to expense.
Project Management Reporting
• Describe the ability to capture and report budget information for use with projects.
• Describe the ability to access the detailed commitments and detailed spending information for each project.
• Describe the ability to capture historical detail cost information for prior years.
• Discuss standard reporting and display menu options. Discuss the ability to integrate with budgeting and project management systems to generate project status reports; show this same data for different schools/units.