Charge sponsored awards appropriately
A cost is allowable on an award if it meets the requirements of Federal Cost Principles (Subpart E), sponsor guidelines and regulations, and the terms and conditions of the award.
Federal Cost Principles require that a cost be:
- Reasonable - a prudent person would have purchased this item for the project and paid this price
- Allocable - the material or service purchased had a direct benefit to the project
- Allowable - allowable based on the sponsor guidelines and award terms & conditions
- Consistent - expenses must be treated consistently across like circumstances
The University maintains a variety of resources that provide sponsored project-related reports:
- FZIGITD - Inception to date budget, expenditure and encumbrance amounts for all costs, including subawards/subcontracts, tuition remission and facilities and administrative costs (F&A).
- FRIPSTG - All accounts for which a faculty member is PI or a Co-PI.
- FRIORGH - All accounts owned by a particular org code.
- FRIASTG - All accounts for awards from a particular sponsor.
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- Mobius View
- FIOPLEITD2 - Revenue/Expense/Detail Statement Inception to Date
- FIOPLITDS1 - Revenue/Expense/Summary Statement Inception to Date
- FIOLTRANS2 - Revenue/Expense/Transactions
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- FIGR_Grants_Status_and_Billing_Summary_Report - Provides a comprehensive financial summary of a grant, including budget and expense information, general ledger balances for a specific accounting period, current accounts receivable balances and individual sponsored project billings.
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Transfer costs when necessary & appropriate
A cost transfer occurs when expenditures charged on a particular C-FOAP are moved to another C-FOAP. Cost transfers involving sponsored projects are subject to UIC's Cost Transfer Policy.
Minimum documentation required for approval:
- Completion of Description field in JV form
- JV Text Form (FOATEXT) must include:
- Explanation of transaction and reason for initial posting to incorrect C-FOAP;
- Date when service was provided or incurred;
- Date and Document Number of original transaction; and
- Preparer's name and telephone number.
Banner forms for completing cost transfers:
- Non-Personnel Cost Transfers: FGAJVCQ
- Personnel Cost Transfers: PZAREDS
Non-current Cost Transfers (>90 days after initial posting) require departments to complete & retain a GC81 - Cost Transfer Justification for Sponsored Projects Form.
Request budget adjustments when needed
Occasionally, sponsored funds may need to be reallocated, or moved from one budget category to another. These changes cannot increase or decrease the total budget. Some changes may also require prior approval by the sponsor; these will be described in the contract/award document.
For changes requiring prior approval, contact the Office of Research Services (ORS), who will assist in communicating with the sponsor to obtain approval.
The specialist who manages your grant can provide further guidance.
Overdrafts should be resolved as quickly as possible by transferring costs to other funding sources. A monthly report is sent by Grants & Contracts to units with funds currently in overdraft.
Consequences of sponsored award funds in overdraft are significant:
- Sponsors cannot be billed while funds are in overdraft, leading to uncollected monies
- Awards in overdraft cannot be closed, leading to audit findings
- Sponsored project deficits may be charged to the ICR funds of the academic unit that owns the fund.
Know the carryover terms of the award
The contract/award document will describe whether unspent funds may be carried from one budget period and whether or not sponsor approval is required. The specialist who manages your grant can provide further guidance.
Prepare for additional work or funding
No-Cost Extensions: If the project will not be completed by the end date, a no-cost extension may be requested through the Office of Research Services (ORS). For eligible Federal awards, UIC has the authority to grant one-time extensions of up to 12 months when appropriate. Requests must be submitted with sufficient time to be processed before the project end date (e.g. a minimum of 30 days).
Continuations, Renewals, and Supplements: As soon as it is known that additional funding for the project will be requested or received, a new PAF should be submitted to the Office of Research Services (ORS). As with new awards, ORS sends a Notice of Executed Award (i.e. congratulatory letter) to the PI, department, and the Office of Grants & Contracts when an award has been fully executed. Awards are generally set up in Banner within 10 business days of this notice being received by Grants & Contracts. Additional funds cannot be set up in Banner until this notice is received from ORS.
- Login: https://mobiusview.apps.uillinois.edu/mobius/view#/
- Help: https://uofi.box.com/s/rmb1viqlchiei5wyi78m313psfb5bnvh
- Login: https://eddie.ds.uillinois.edu
- Job Aid: http://www.obfs.uillinois.edu/common/pages/DisplayFile.aspx?itemId=96396
- Help: http://www.aits.uillinois.edu/get_help
Getting Access to View Direct and EDDIE
Additional information on Monitoring Expenditures
Chicago Cost Transfer Policy
GC81- Cost Transfer Justification for Sponsored Projects Form
Cost Transfer Training Materials
Institutional / Organizational Prior Approval Form [IPAS / OPAS]
Who Manages My Grant?
Office of Research Services
Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards