Sponsored project award allocations: When a funding agency grants a sponsored project award, the amount must be recorded in the operating ledger. This is done by creating an allocation for the amount the University is authorized to spend.
You create an allocation with a budget journal. The journal includes:
- A debit to a revenue account, which is used by the University to track the maximum amount to bill and collect
- Credits to expenditure accounts, which are used by departments to track the amounts that the awarding agency has given them to spend
Note: Only External Relations can allocate gift awards.
Both direct and indirect costs need to be allocated. Usually, the award budget specifies the direct and indirect amounts. If it doesn't, see an example of how to determine direct and indirect costs.
Intercampus sub-awards are sponsored project awards involving more than one campus. The procedures for allocating intercampus sub-awards vary slightly from normal allocation procedures.
Special cases:
Some situations require additional allocation instructions. Find out how to allocate in the following situations:
Rebudgeting: Find out how to change an existing allocation when you receive agency approval to rebudget or when you need to rebudget between indexes.
Questions? Please see OPAFS Contacts.
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