SPO Training LOC Draws Subrecipient Monitoring FFRs Susan

SPO Training LOC Draws, Subrecipient Monitoring, & FFRs Susan Cessac Monika Gupta Jessi Jordan UMSYSTEM. EDU

LOC Draw Process • LOC Report • Draw based on agency • Sponsor list • Check agency totals – negative cash position • Pending vs Active • Draw on contract basis • Multiple projects per contract UMSYSTEM. EDU

LOC Draw Process • Balance LOC report to Ledger • Balancing issues: revenue manually posted to project • Generate Invoices • Billing plan set up correctly • Draw from Payment system • Important that LOC Doc ID matches account number UMSYSTEM. EDU

Award Setup • Same award, same contract! • 51 awards have two or more contracts assigned to them • Exception: multiple business units per award UMSYSTEM. EDU

Award Setup • LOC Doc ID needs to match account number • Award profile - > view contract hyperlink - > lines tab - > detail tab - > scroll to the far right to see the LOC Doc ID text box UMSYSTEM. EDU

Award Setup • Verify agency and fund • Sponsor, fund, and LOC Ref ID • USDA is on multiple payment systems – important LOC Ref ID is correct • Fund is never 2100 for LOC except for IRS & CNCS UMSYSTEM. EDU

Billing Plan Setup (LOC) UMSYSTEM. EDU

Billing Plan Setup (LOC) UMSYSTEM. EDU

Billing Plan Method • LOC Billing Plan • Billing Method should be “As Incurred” NOT “Value Based” • Over 30 Kansas City LOC contracts setup as “Value Based” • Example – Contract 0021868 UMSYSTEM. EDU

Billing Plan Method • Unassign Incorrect Billing Plan UMSYSTEM. EDU

Billing Plan Method • Assign new billing plan UMSYSTEM. EDU

Billing Plan Method • Now there are 2 billing plans UMSYSTEM. EDU

Billing Plan Method • Example continued: Bill plan B 102 UMSYSTEM. EDU

Billing Plan Method • Example continued: Bill plan B 101 Change to cancelled UMSYSTEM. EDU

Award Setup • Award Modifications • In award modifications, amounts should be entered as increments as they will be released Enter issue date if funding has been released UMSYSTEM. EDU

Activating Projects • Verify budget limit = current funding available • Budget limit is what we use to determine what we can draw up to at this point in time • Award profile -> view contract -> lines -> amount detail -> limit amount UMSYSTEM. EDU

Recon 13 Total Contract Limit UMSYSTEM. EDU Issued Award Modifications Budget Amount

Recon 13 UMSYSTEM. EDU

Closing Projects • Check Budget Variance to make sure Revenue = Expenses • Check Income Statement for cash • Email Monika/Jessi if you need to close a project & revenue does not equal expenses UMSYSTEM. EDU

Subrecipient Monitoring • Attach subaward to Sub. K page UMSYSTEM. EDU

Subrecipient Monitoring • Include contact information in Subk Addr • Including Email ID UMSYSTEM. EDU

Subrecipient Monitoring • Include invoices received by subrecipient • Include EPLS check (required to be checked before payment) UMSYSTEM. EDU

Subrecipient Monitoring • Check subrecipient monitoring link before entering into new sub agreement • Check subrecipient monitoring link for each vendor before paying • If risk assessment and checklist are not included, email Jessi and cc Susan to see if the vendor is okay to pay UMSYSTEM. EDU

Federal Financial Reports (FFR) Sponsors that require Quarterly FFR’s: NASA USDA (awards on PMS only) DHHS IRS CNCS DHS DOS NSF DOE (awards issued from Chicago Office only) UMSYSTEM. EDU

Federal Financial Reports (FFR) UMSYSTEM. EDU

Federal Financial Reports (FFR) UMSYSTEM. EDU

Federal Financial Reports (FFR) UMSYSTEM. EDU