What is a Chartfield?
Chartfields are individual segments of PeopleSoft's coding structure, which are joined together in various combinations to tell the system where to record a financial transaction. Chartfields consist of ten separate blocks of information including business unit, fund, organization, program or project, subclass, account, budget year, statistics code, and currency code. A FOPPS is an anagram for fund, organization (org), program or project, and subclass. For more information, see:
What is a FOPPS?
What is a speedtype?
A unique combination of fund, organization, program OR project, and subclass where applicable; a single university activity or FOPPS. A speedtype
autogenerates a "smart number" that correlates to a specific University FOPPS, or chartfield. The first digit of the speedtype defines the campus (e.g. UCD = 6); the next two digits define the fund (e.g. sponsored project = 30); the next 5 digits are automatically generated in the system when the speedtype or chartfield is set up. For example, 63012345 would be recognizable as a UCD sponsored project fund. http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch05.doc
What is a fund?
What is a current fund?
Current funds are those economic resources of a college or university which are expendable for the purpose of performing the primary missions of the institution – instruction, research and public service – and which are not restricted by external sources or designated by the governing board for other than operating purposes. The term “current” means that the resources will be expended in the near term and that they will be used for operating purposes. CU's current funds are fund 10, fund 11, fund 20, fund 26, fund 28, fund 29, fund 30, fund 31, and fund 34.http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch04.doc
What is a plant fund?
Plant funds are to be used for the acquisition of physical properties for institutional purposes but unexpended at the date of reporting; funds set aside for the renewal and replacement of institutional properties; funds set aside for debt service charges and for the retirement of indebtedness on institutional properties; and funds expended for, and thus invested in, institutional properties. CU's plant funds are fund 71, fund 72, fund 73, and fund 74 at UCD.
What is an agency fund?
Agency funds are used to deposit funds that do not belong to and are not under the control of the Regents, but rather are private funds that belong to the depositor. CU is essentially providing a banking function for the depositor, and these funds are then disbursed at the direction of the depositor. The most common uses of agency funds are for: independent student organizations; external entities that have a business presence on campus (such as UPI -University Physicians, Inc); and other approved affiliates.http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch04.doc
What is an unrestricted fund?
Unrestricted funds include all funds received by the institution for which no stipulation was made by the donor or other external agency as to the purposes for which the funds should be expended. CU's unrestricted funds include fund 10, fund 11, fund 20, fund 26, fund 28, and fund 29.http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch04.doc
What is a restricted fund?
Restricted funds are those available for financing operations, but which are limited by donors or other external agencies to specific purposes, programs, departments, or schools. CU's restricted funds include fund 30, fund 31, and fund 34.http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch04.doc
What is a general fund?
The general fund is used to account for the major revenue and expenses of the university's primary mission of instruction and its support functions of academic support, student services, institutional support, operation of plant, and scholarships and fellowships. CU has two general funds: fund 10 and fund 11. The revenues in fund 10 are: fees for services, all tuition except that charged by Continuing Education, all instructional fees, administrative student fees, some student activity fees, and some miscellaneous revenue such as rent of general fund space. Fund 11 -- the ICR fund -- is used to account for the facilities and administrative cost (F&A or indirect cost) reimbursement to the university from sponsored projects and some student aid/loan programs. No expenses, other than compensated absences, are recorded in fund 11. This is used only to account for F&A revenue that supports the general fund functions. Fund 11 is also used to account for compensated absence (vacation and sick leave balances) liability and expense for employees paid from fund 10.http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch04.doc
What is a fund 10 - General Fund?
Fund 10 is a general fund that accounts for revenues from fees for services, all tuition except that charged by Continuing Education, all instructional fees, administrative student fees, some student activity fees, and some miscellaneous revenue such as rent of general fund space. http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch04.doc
What is a fund 11 - Indirect Cost Recovery?
Fund 11 -- the ICR fund -- is a general fund that is used to account for the facilities and administrative cost (F&A or indirect cost) reimbursement to the university from sponsored projects and some student aid/loan programs. No expenses, other than compensated absences, are recorded in fund 11. This is used only to account for F&A revenue that supports the general fund functions. Fund 11 is also used to account for compensated absence (vacation and sick leave balances) liability and expense for employees paid from fund 10.http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch04.doc
What is a fund 20 - Auxiliary Tabor Enterprises?
What is a fund 26 - Auxiliary fund?
What is a fund 28 - Auxiliary Internal Service Centers?
What is a fund 29 - Auxiliary Non-Enterprises?
What is a fund 30 - Sponsored Projects (aka Sponsored Programs, Grant, or Contract) Fund?
Fund 30, a sponsored project fund, accounts for revenues from sponsors (including private businesses, corporations, foundations and other not-for-profit organizations, other universities, and federal, state and local government), which supports research, instructional, or public service activities that are related to the mission of UCD.
Managing sponsored project funds is extremely specialized and complex -- please see the following links for more information: https://www.cu.edu/policies/aps/academic/1005.html http://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch04.doc
What is a fund 31 - Sponsored Projects (aka Sponsored Programs, Grant, Contract) Fund?
What is fund 34 - Gift Fund (Gift Program)?
Fund 34, the gift fund, is used to account for all gift revenues. Gifts include all monies, real property and personal property (both tangible and intangible) provided to the university for which the donor does not receive equal value in exchange for the money. The donor may put time and/or purpose and/or matching requirements on the gifts, but there is no equal value returned in exchange for the money. Gifts may be deposited initially with the CU Foundation, and then be transferred into the university's financial system in order to spend the gifts, or gifts may be deposited directly to the university, depending on the donor's wishes. There is often some restricted purpose for the gifts. Gift fund management requires additional oversight to ensure that the gift is spent according to the donor's wishes. Please see the related links for more information about gift funds.http://www.cu.edu/controller/gifts.htmlhttp://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch04.doc
What is an account code?
An account code is a six-digit number in the Finance System that is used to identify assets, liabilities, fund balance, revenue, expenses, or transfers. All financial transactions must be classified according to one of these categories. Furthermore, in order for the university’s financial reports to be accurate, it is critical that accounts be used correctly. Accounts fall into the following standard categories: Assets, Liabilities, Net Assets, Revenues, Expenditures (Expenses), and Transfershttp://www.cu.edu/controller/fin-system-values.htmlhttp://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch05.doc
What is an asset?
What is a current asset?
Current assets are cash and other assets expected to be converted to cash, sold, or consumed either in a year or in the operating cycle. These assets are continually turned over in the course of a business during normal business activity. At CU, current assets include cash, accounts receivable and allowances, loans receivable and allowances, inventory, prepaid expenses, deferred charges, and advances.http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch05.doc
What is a non-current asset?
Non-current assets are those assets which are intended for continued and long-term use in a business. At CU, non-current assets include cash, accounts receivable and allowances, loans receivable and allowances, capital assets, and other non-current assets.http://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch05.doc
What is a liability?
What is a fund balance/net asset ?
What is revenue?
What are expenditures (or expenses)?
What is a transfer?
What is an organization?
The org, or organizational unit, can be situated at various levels on the university's organizational tree. Examples of organizational units at a high level of the organizational tree would be campuses or colleges. A department is an example of an organizational unit found at a lower level of the organizational tree. An org would usually be found as an entity on an organizational chart. (Within the Finance System, the higher level orgs are commonly referred to as org nodes.)http://www.cu.edu/controller/fin-system-values.htmlhttp://abs.colorado.edu/ABS_WEB/nonhtm/guide/ch05.doc
What is a program?
What is a project?
What is fiscal staff?
What is a Project Fiscal Principal - Principal Investigator?
A Project Fiscal Principal - Principal Investigator (PI) is the principal administrator of a project, entrusted with programmatic and financial responsibility. The fiscal principal may delegate fiscal responsibilities to the fiscal manager, but retains ultimate accountability for the activities of the project.http://www.cu.edu/controller/reportingproject/downloads/Fiscal%20Roles.doc
What is a Project Fiscal Manager - Department Contact?
What is a balance sheet?
A balance sheet, in formal bookkeeping and accounting, is a statement of the book value of an organization at a particular date. A balance sheet is often described as a "snapshot" of the company's financial condition on a given date. A modern balance sheet usually has three parts: assets, liabilities, and net assets. The main categories of assets are usually listed first and are followed by the liabilities. The difference between the assets and the liabilities is known as the "net assets" or the "net worth" of the company. http://www.ucddenver.edu/about/departments/finance/Documents/FinanceFiles/ReportReading.doc
What is an income statement?
An income statement is a financial report that - by summarizing revenues and expenses, and showing the increase or decrease in net assets in a specified accounting period - depicts a business entity's financial performance during a selected period of time. At CU, this report is called the "Summary of Financial Transactions" or the "Summary of Budget, Revenues, Expenditures, and Transfers."http://www.ucdenver.edu/about/departments/finance/Documents/FinanceFiles/ReportReading.doc
What is a subclass?
What is an "investment in plant" fund?
What is a current liability?
What is a non-current liability?
Non-current liabilities are those obligations that will not become due and payable in the coming year. At CU, non-current liabilities include payables and accrued expenses non-current, other liabilities non-current, debt non-current, and due to.
What is a non-gift program?
A non-gift program is a university activity that has a source of funding that is neither from a sponsor nor a donor, but rather is either self-generated (if in the fund 20 - 29 series), from fees for service, from cash transferred in from other CU funds where applicable, or from other miscellaneous sources . Non-gift programs start July 1st and end the following June 30th of each fiscal year.http://www.ucdenver.edu/faculty_staff/employees/policies/Policies%20Library/Fiscal/fp1-09.pdf
How are non-gift programs set up?
What are the various funding sources for non-gift programs?
A non-gift program is a university activity that has a source of funding that is neither from a sponsor nor a donor, but rather is either self-generated (if in the fund 20 - 29 series), from state appropriated funds, from cash transferred in from other CU funds where applicable, from proceeds of property sales, from certain types of investment income, or from insurance proceeds from losses related to capital assets.http://www.ucdenver.edu/faculty_staff/employees/policies/Policies%20Library/Fiscal/fp1-09.pdf
What is the purpose of a non-gift program?
How are non-gift programs budgeted?
Do non-gift programs pay overhead?
Non-gift programs in fund 10 do not; non-gift programs in fund 26 closed clinical trial programs do not; non-gift programs in fund 26 royalty programs pay GAR and GIR; non-gift programs in funds 20, 28, and 29 pay GAR and GIR. GAR and GIR are cost allocations established at UCD to charge certain activities for costs that cannot be specifically identified to each activity, such as the costs of administrative offices like Finance, Information Systems, Personnel, etc. (GAR) and utilities, security, maintenance, environmental services (GIR). GAR (General Administrative Recharge, aka administrative cost allocation) is assessed by applying a certain percentage each month to expenditures as they are incurred in such programs. You'll find GAR expenses under account code 960100 on your financial statements. GIR (General Infrastructure Recharge, aka facility cost allocations) are assessed by identifying the specific space used by each activity and allocating the specific cost for each building to the activity based on square feet. You'll find GIR under account code 960200 on your financial statements.Please note that GIR is only assessed if the activity occupies 100 square feet or more on campus. See the policy on cost allocations: http://www.ucdenver.edu/faculty_staff/employees/policies/Policies%20Library/Fiscal/fp1-04.pdf
Is PIE (Pooled Investment Earnings) distributed to non-gift programs?
Are there allowable cash transfers in non-gift funds?
What financial reports should I read to monitor a non-gift program?
Each month after the official closing, four (4) reports are delivered to departments for each speedtype/FOPP via intercampus mail. These reports are also available online. Reports include Summary of Financial Transactions (Summary of Budget, Revenues, Expenditures and Transfers; Detail of Financial Transactions (Detail of Budget, Revenues, Expenditures and Transfers); Balance Sheet Transactions; and Outstanding Encumbrances. Financial reports should be reviewed monthly if not more often, to verify that expenditures and encumbrances are correct and charged to the right program. Errors should be corrected immediately. For non-gift programs, the best report depends on the fund. If your non-gift program is in fund 10, then you would use the Summary of Financial Transactions, targeting column "I", "Available Balance". If Available Balance is positive, then you have budgeted funds left to spend. If your non-gift program is in any other fund, you would use the Balance Sheet (SNA) Transactions report, targeting the "Total to Date" column in Pooled Cash. If total cash is positive -- not in brackets -- you have funds available.http://www.ucdenver.edu/about/departments/finance/Documents/FinanceFiles/AvailableBalance.xlshttps://www.cu.edu/controller/help/sbs-reporting.html http://www.ucdenver.edu/about/departments/finance/Documents/FinanceFiles/ReportReading.doc
How is a non-gift program closed?
What pertinent policies and regulations apply to non-gift programs?
How is a sponsored project set up?
What is the purpose of a sponsored project?
A sponsor is an external funding agency that enters into an agreement with the institution to support research, instruction, public service or other sponsored activities. Sponsors include private businesses, corporations, foundations and other not-for-profit organizations, other universities, and federal, state and local governments. The purpose of a sponsored project is to provide funding for certain activities that the sponsor wishes to use UCD resources to achieve. A sponsored project can be defined as, research, instructional, or public service activities that are related to the mission of UCD and sponsored by external agencies or entities (see Fiscal Policy 4-5, Application/Proposal Approval Process for Sponsored Projects ( http://www.ucdenver.edu/faculty_staff/employees/policies/Policies%20Library/GrantsContracts/Sponsored%20Project%20Application%20and%20Proposal%20Approvals,%204-5.pdf
). Sponsored projects issues that require administration by G&C include any one of the following: the award is an agreement from a governmental entity; sponsor support is directed to satisfy specific, programmatic objectives that are to be accomplished within a specific time and budget framework; the sponsor is entitled to receive some deliverable, such as a detailed technical report of research results or a report of expenditures; there is a provision for audits by or on behalf of the sponsor; the funding is for a project with compliance issues including, but not limited to: human subjects, animal use, biohazards, and biosafety; or the sponsor requests publication restrictions, patent, or licensing rights.http://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx
How are sponsored projects budgeted?
The grant or contract proposal includes a proposed budget, which is an itemized summary of anticipated expenditure activity for a given period and activity with an identified (or proposed) means for financing. It's comprised of direct costs and indirect costs (F&A). Direct costs can be easily and accurately identified with your sponsored project. These types of costs include: personnel, consultants, equipment, supplies, travel, participant costs, other expenses, and sub-award/subcontract costs. Indirect costs - F&A (Facilities and Administrative) - include: utilities, public safety, building equipment use and maintenance, departmental personnel for administrative or clerical functions, membership dues and fees for professional organizations, telephone line charges, office supplies, postage, and copy machine fees. F&A rates are negotiated on a yearly basis at UCD by the Vice Chancellor of Administration and Finance and representatives of the federal government. OGC/DSPA will assist you with the budget development and budget justification. The sponsor may award the requested budget, or may award a different budget. The award notice includes this information, and the awarded budget is set up in the financial system.http://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx
Do sponsored projects (grants) pay overhead?
Yes, most sponsored projects pay F&A (Facilities and Administrative) costs, previously known as indirect costs. Some costs cannot be easily allocated to a specific project, as they are incurred for common or joint objectives throughout the university. Some common F&A costs include: utilities, public safety, building equipment use and maintenance, departmental personnel for administrative or clerical functions, membership dues and fees for professional organizations, telephone line charges, office supplies, postage, and copy machine fees. F&A rates are negotiated on a yearly basis at UCD by the Vice Chancellor of Administration and Finance and representatives of the federal government.
Is PIE (Pooled Investment Earnings) distributed to sponsored projects (grants)?
Are there allowable cash transfers in sponsored project (grant) funds?
What financial reports should I read to monitor a sponsored project (grant)?
Each month after the official closing, four (4) reports are delivered to departments for each speedtype/FOPP via intercampus mail. These reports are also available online. Reports include Summary of Financial Transactions (Summary of Budget, Revenues, Expenditures and Transfers); Detail of Financial Transactions (Detail of Budget, Revenues, Expenditures and Transfers); Balance Sheet Transactions; and Outstanding Encumbrances. Financial reports should be reviewed monthly if not more often, to verify that expenditures and encumbrances are correct and charged to the right project. Errors should be corrected immediately. The reports provide budget information for most federal and some non-federal awards and can be used to do projections based on future planned spending. Every month, be sure to reconcile every project for payroll expenses, vendor and/or subrecipient payments, and revenue received. Keep track of sponsor payment activity to ensure payments are received and recorded properly by OGC/SPA in the financial system (i.e., follow up on accounts receivable). It is often helpful to understand what expense items are encumbered to then know what planned expenditures will need to be projected to avoid cost overruns. For example, subrecipient agreement amounts may be encumbered, while other purchases such as the procurement card are not. With regular monitoring of the financial activities for an award, the PI will avoid problems or enable a more expeditious resolution should a problem arise. For example, if you know an expense looks odd, be prepared to back it up with documentation. There are specific reports that are the most useful in managing a sponsored project. For summary information, assuming the project has a budget, use the Summary of Financial Transactions, targeting column "I", "Available Balance". If Available Balance is positive, then you have budgeted funds left to spend. If there is not a budget (e.g. Clinical Trials), use the Balance Sheet (SNA) Transaction report, targeting "Pooled Cash". If cash is positive, you have cash available. The detail report (Detail of Financial Trans) lists details of every transaction on a particular speedtype during a certain timeframe, which you select.http://www.ucdenver.edu/about/departments/finance/Documents/FinanceFiles/AvailableBalance.xlshttp://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx http://www.ucdenver.edu/about/departments/finance/Documents/FinanceFiles/ReportReading.doc
Grants and contracts: What's the difference?
These award mechanisms are distinguished by who benefits and what is expected in return. A grant satisfies specific sponsor requirements; the primary benefit of grant work is the awardee (i.e., CU). For example, the UCD special education department might receive a federal grant to develop a school program. The majority of awards at CU are grants. Contracts are agreements to acquire CU services or deliverables that benefit the sponsor. For example, an instructional technology department at CU Boulder might contract with the state of Colorado to develop an online test.http://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx
How is my sponsored project (grant) proposal processed?
First, a PI (Principal Investigator) creates a grant application for sponsored research; then the PI/department “routes” the application to Grants and Contracts (Anschutz Medical Campus) or DSPA (Downtown Denver campus). Grants and Contracts or DSPA reviews the application for policy and legal issues. Grants and Contracts or DSPA then provides institutional endorsement of the application, and sends it back to the PI/department. The PI sends the application to the sponsor for a funding decision.http://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx
What happens during the post-submission period with respect to pre-award expenditures?
What is Postaward Administration?
How do I know which costs are appropriate to charge to a sponsored project (grant)?
Project expenditures should comply with the terms and conditions of the award; be reasonable under the circumstances of the specific project for which they are charged; directly contribute to the accomplishment of the university’s mission and be a necessary expenditure for the specific project for which they are charged; and be charged in proportion to the benefit received by the project. If an expenditure benefits more than one project, the cost must be allocated in proportion to the benefit to each project. You should spend no more than the amount authorized by the sponsor for the project period; ensure that sponsor limitations on the amount of money that may be spent in any single budget category is adhered to; make sure that costs are incurred only for goods or services that will be used or received during the project period; make sure that purchases or hiring for a project adhere to the Procurement Service Center’s rules governing the purchase of goods and services and the Human Resource rules that govern the hiring of personnel; and that any adjustments in salary are consistent with university's Human Resources and department policies and procedures, and are appropriate for the type of award. Print out these standards. The following are expenditures that are not allowable on federally sponsored research: advertising, alcoholic beverage, entertainment, fundraising, lobbying, proposal preparation costs, membership in civic or community organization (e.g., country club), and goods or services for personal use.http://www.ucdenver.edu/faculty_staff/employees/policies/Policies%20Library/GrantsContracts/fp4-07.pdfhttp://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx
How do I monitor costs on a sponsored project (grant)?
Each month after the official closing, four (4) reports are delivered to departments for each speedtype/FOPP via intercampus mail. These reports are also available online. Reports include Summary of Financial Transactions (Summary of Budget, Revenues, Expenditures and Transfers); Detail of Financial Transactions (Detail of Budget, Revenues, Expenditures and Transfers); Balance Sheet Transactions; and Outstanding Encumbrances. Financial reports should be reviewed monthly if not more often, to verify that expenditures and encumbrances are correct and charged to the right project. Errors should be corrected immediately. The reports provide budget information for most federal and some non-federal awards and can be used to do projections based on future planned spending. Every month, be sure to reconcile every project for payroll expenses, vendor and/or subrecipient payments, and revenue received. Keep track of sponsor payment activity to ensure payments are received and recorded properly by OGC/SPA in the financial system (i.e., follow up on accounts receivable). It is often helpful to understand what expense items are encumbered to then know what planned expenditures will need to be projected to avoid cost overruns. For example, subrecipient agreement amounts may be encumbered, while other purchases such as the procurement card are not. With regular monitoring of the financial activities for an award, the PI will avoid problems or enable a more expeditious resolution should a problem arise. For example, if you know an expense looks odd, be prepared to back it up with documentation. There are specific reports that are the most useful in managing a sponsored project. For summary information, assuming the project has a budget, use the Summary of Financial Transactions, targeting column "I", "Available Balance". If Available Balance is positive, then you have budgeted funds left to spend. If there is not a budget (e.g. clinical trials), use the Balance Sheet (SNA) Transaction report, targeting "Pooled Cash". If cash is positive, you have cash available. The detail report (Detail of Financial Trans) lists details of every transaction on a particular speedtype during a certain timeframe, which you select.http://www.ucdenver.edu/about/departments/finance/Documents/FinanceFiles/AvailableBalance.xlshttp://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx http://www.ucdenver.edu/about/departments/finance/Documents/FinanceFiles/ReportReading.doc
The following document is a quick reference to monitoring costs on sponsored projects: http://www.ucdenver.edu/faculty_staff/employees/policies/Policies%20Library/GrantsContracts/fp4-07.pdf
What is cost sharing as related to sponsored projects (grants)?
What is program income as related to a sponsored project (grant)?
Program income means gross income earned by CU that is directly generated by a supported activity or earned as a result of a sponsored program award. Program income includes, but is not limited to, income from fees for services performed, the use or rental of real or personal property acquired under federally-funded projects, the sale of commodities or items fabricated under an award, license fees and royalties on patents and copyrights, and interest on loans made with award funds. Interest earned on advances of federal funds is not program income. Except as otherwise provided in federal awarding agency regulations or the terms and conditions of the award, program income does not include the receipt of principal on loans, rebates, credits, discounts, etc., or interest earned on any of them. The use of monies generated from program income is subject to the applicable rules and regulations of the awarding agency and any other restrictions placed upon the program income as a part of the award terms and conditions. For example, some awards use program income to reduce the award monies provided by the awarding agency; some use it to meet matching requirements; and some allow the use of program income monies to further the objectives under which the award was made. Generally, the same cost principles applicable to sponsor provided funds are likewise applicable to program income monies. Additionally, the awarding agency may have separate rules and regulations that specify the time frame during which the program income must be used, e.g., during the effective period of the award or after the award has ended.
What are cost transfers as related to sponsored projects (grants)?
A cost transfer is the transfer of a cost incurred initially on one university program/project and subsequently transferred to a sponsored project. A cost transfer does not include items posted to a suspense account or program that are cleared to the appropriate project on a timely basis (less than 60 days from the original posting). OMB Circular A21, "Principles for Determining Costs Applicable to Grants, Contracts, and Other Agreements with Educational Institutions," states, "...any costs allocable to a particular sponsored agreement may not be shifted to other sponsored agreements in order to meet deficiencies caused by overruns or other fund considerations, to avoid restrictions imposed by law or by terms of the sponsored agreement, or for other reasons of convenience." It goes on to state, "...any costs allocable to activities sponsored by industry, foreign governments or other sponsors may not be shifted to federally sponsored agreements." The university recognizes that transfers of costs from one project to another are occasionally necessary to correct bookkeeping or clerical errors in the original charges. The university also recognizes that closely related work may be supported by more than one funding source, and that in such cases, a cost transfer may be completed to split the expense between projects. Again, all projects receiving a portion of the expense must directly benefit from this expense. Frequent, tardy, and unexplained (or inadequately explained) transfers, particularly where they involve projects with significant cost overruns or unexpended fund balances, raise serious questions about the propriety of the transfers themselves, as well as the overall reliability of the university's accounting system and internal controls. http://www.ucdenver.edu/faculty_staff/employees/policies/Policies%20Library/GrantsContracts/CostTransfersSponsored%20Projects-FP4-12.pdfhttp://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx
Can I rebudget award funds within a sponsored project (grant)?
Rebudgeting is when funds that are available for spending are reallocated between budget categories to best accomplish project goals. As a change made to the awarded budget, rebudgeting may require prior approval by the sponsor. Sponsors differ in their policies on rebudgeting. The award document and any terms referenced should be reviewed prior to any change to determine whether the award agreement permits rebudgeting. Any request must detail why the rebudgeting will help accomplish project goals. http://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx
What is a no-cost extension?
A no-cost extension (NCE) refers to the extending of the project period without additional funding. Approval of no-cost extensions to your project may be handled internally or sought externally from the sponsor. You should contact your sponsored projects office to discuss a potential NCE well in advance of the end date of the award. Be prepared to provide a rationale for the NCE and document how remaining funds will be spent -- Note that additional information may be necessary, depending on sponsor requirements. http://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx
How is a sponsored project (grant) closed?
As the end of a project nears, there are two main issues to consider: Should the project continue or be closed, and what reports need to be submitted to the sponsor? To continue the project, an extension approval from your sponsored programs office (OGC/SPA) and your sponsor may be required. Usually, extensions must be filed with the agency within 60 days of project termination. Check with your sponsored programs office (OGC/SPA) if you have any questions or concerns about the process. If the project will be clsoed, the project's financial issues need to be resolved, such as completing reports by project deadlines, finalizing invoices from subcontractors, terminating monthly charges so they don't hit a project after its end date - this includes telephone toll charges (regular phone charges won't be on most projects) - and computer support charges, clearing any encumbrances after everything spent during the award period has been paid, and making sure the project balance is zero in order to allow the project to be closed by OGC/SPA. Remember, project money cannot be spent after the project end date. If the project is federally funded, or if it is terminated before the planned end date, there are additional requirements. Contact OGC/SPA for more information about project close out. http://www.ucdenver.edu/academics/research/AboutUs/GrantsContractsOffice/Pages/default.aspx
What is a fundraising event?
As defined in the university's Administrative Policy Statement dictionary, "A special event is a fundraising gathering of a number of people for an identified organizational unit or university function (e.g., scholarships), where goods and/or services (e.g., dinner) are provided to those attending. The value of the goods and/or services provided is a non-gift component of any funds given to the university by those attending, or on behalf of those attending the special event." What changed? The responsibility for administering fundraising events, particularly with respect to ensuring compliance with external regulations and internal policies, is changing. In the past, departments worked with the University of Colorado Foundation when planning a fundraising event. Effective December 1, 2005, the Office of University Controller assumed the fundraising events role, with a particular focus on compliance issues. Organizational units will be responsible for the event planning and implementation. The Foundation will no longer be involved in any aspect of special event planning, implementation, or monitoring, and will be able to focus on other avenues of financial support for the university. Who should I contact with my fundraising events questions? Whenever you have an activity that meets the criteria for a fundraising event, you will work with the Office of the University Controller. Why the OUC? Fundraising events take place on all campuses of the university, and the OUC will offer one point of contact. The OUC has just hired a Fundraising Events Compliance Coordinator to serve as a resource for the campuses -- Barbara Stannard, email@example.com
or 303-492-9713. Barbara is working on finalizing policies and procedures for fundriasing events and plan to have them adopted by the end of March. She is actively assisting organizational units with the fundraising events and can help you ensure yours is properly conducted. https://www.cu.edu/controller/documents/FPS-Fundraising-Events.pdf
What is a gift in kind?
Gift in kind arises when the university receives non-monetary gifts, including art, books, manuscripts, antiques, collections, equipment, software, or intellectual property (i.e., patents). Gift in kind transactions are required to be recognized and processed in accordance with the policy "Gift in Kind Transactions" on the System Controller's website.https://www.cu.edu/policies/aps/finance/4021.html
What is an official function?
The PSC Policy and Procedure Statement: Official Function Authorization defines and describes official functions, and also provides guidance for properly administering an official function. An official function is a meeting, meal, or other function that is hosted by an associate or employee of the university; is attended by guests and/or university associates or employees; and is held for official university business purposes as defined in Chapter 2 of the State of Colorado Fiscal Rules. Since official functions have the potential to be perceived as being for personal benefit or as a misuse of public funds, expenditures for such functions must be kept to a minimum. The attendance of state employees at an official function must also be limited, and should include only those individuals directly related to the purpose of the function. Due to the sensitive nature of official functions, the university requires that the Official Function Authorization Form be completed prior to any official function for which the estimated total food cost for the function exceeds $100 or the function includes alcohol, in any dollar amount, for an event being held at a site without a valid liquor license, whether that site is on-campus or off-campus.https://www.cu.edu/psc/procedures/PPS/PPS_Official_Functions.pdfhttps://www.cu.edu/psc/forms/Official-Function.xls
Where can I find definitions for CU's policy terminology?
What is a budget account code?
How can I find contact info for a person or department at CU?
How are gift programs set up?
What are the various funding sources for gift programs?
The State of Colorado provides less than 10% of the university's operating budget. Private gifts allow the university to attract and retain the best and brightest faculty, provide scholarships, build first-class facilities, and continue the quality education and research programs that are the hallmark of CU. Through the University of Colorado Foundation, numerous individual donors, companies, and foundations provide generous financial support to the university by funding scholarships, fellowships, endowed faculty positions, research, facilities, community service and outreach, and much more.http://www.cufund.org/qa.php
What is the purpose of a gift program?
How are gift programs budgeted?
Do gift programs pay overhead?
Is PIE (Pooled Investment Earnings) distributed to gift programs?
Are there allowable cash transfers in gift funds?
Only in certain circumstances -- Transfers between different funds: Transfers from fund 34 to 71 are allowed if the purpose of the gift is capital construction. Transfers to or from any other funds are not allowed. Transfers within fund 34: You may transfer to a speedtype with the same gift expense code 1. You may transfer from a less restrictive gift expense code 1 to a related more restrictive purpose, such as from "M" to "A" (see list at link). You may not transfer to a linked speedtype regardless of gift purpose codes. You may not transfer to or from a "Y" gift expense code 2 (alcohol allowed). See the following for more information:https://www.cusys.edu/controller/documents/gift_purpose_codes.xls
What financial reports should I read to monitor a gift program?
How is a gift program closed?
The Gift Fund Request Form is used to close gift programs. Instructions to close a fund and speedtype are included on the form, which instructs users to complete the sections shaded in blue (which are Proposed Long Fund/Speedtype Name, Fund Number, and Speedtype#) and route to Campus Controller's Office, who would then route to the Foundation Accounting Office (if applicable). Section II must be completed to show the requestor name and the organizational unit signature and date. For the Anschutz Medical Campus, the request goes to the Office of Grants and Contracts instead of the Campus Controller's Office.https://www.cu.edu/controller/forms/downloads/Gift-Setup.xls
What is a IN/JE Form?
The IN/JE Form is the interdepartmental invoice and journal entry request form. An interdepartmental invoice (IN) is a means of charging another department for a service provided and includes a speedtype, account, description of services rendered, amount charged and an acknowledgement of receipt by the ordering department. This IN then becomes a journal entry and may be entered either by the department or Data Control. The IN form is not the only allowable format for interdepartmental orders, but any other format should provide the same information (speedtype, ordering person, service rendered, quantity, and amount). Signatures are preferred, but not practical for large volumes, so for audit purposes it is sufficient that the ordering department has opportunity to review their PeopleSoft statements. As the IN form is just a special type of journal entry, the same form may also be used to request a journal entry be input by Data Control.http://www.ucdenver.edu/about/departments/finance/Documents/FinanceFiles/IN.xls
For gift funds, what is the Automatic Transfer Process?
The Automatic Transfer Process for CU Foundation Funds Initiative streamlines the process that organizational units use to request funds from the CU Foundation in order to: redirect resources to understanding and monitoring compliance with donor restrictions and maximize university cash flow by minimizing cash deficits caused by untimely transfers requests. See the OUC website for more information: http://www.cusys.edu/controller/Automatic-Transfer.htmlGift Programs
For gift funds, what is the "threshold" of the Automatic Transfer Process?
The threshold is a percentage of the CU Foundation account available balance that will be retained at the university. This amount is negotiated by the University Treasurer and the Foundation to maximize returns at both organizations. At initial project implementation*, the threshold will be set to 0%. Therefore, the university will always have a $0 cash balance after processing a transfer from the CU Foundation. For example, if the threshold is set to 1% for a CU Foundation account in the amount of $100,000, then the university would have a cash balance of $1,000 after receiving the transfer from the CU Foundation. *The threshold is subject to change; please see the OUC webiste for current information:
For gift funds, what is the "tolerance" of the Automatic Transfer Process?
The tolerance is a dollar value for both an upper and lower limit that restricts the amount of cash requested by the cash transfer process. The upper limit tolerance serves to ensure that the University does not request more cash than the CU Foundation has liquidated. For example, if $6,000,000 is needed from a construction gift fund, the CU Foundation needs more time than is available through the automated transfer timeframe to rearrange its investment portfolio. The lower limit tolerance serves to minimize the number of detail lines in the transfer file and to ensure that the resources of the CU Foundation are focused on material transfer requests. At initial project implementation, the upper and lower limit tolerances will set to $500,000 and $100 respectively. At the end of each quarter, the lower limit tolerance will be adjusted to $0. For transfer requests that exceed the $500,000 upper limit tolerance, the system will create a detail report to provide to the CU Foundation. The CU Foundation will initiate the transfer within the week. See the OUC website for changes to this level and for more information:http://www.cusys.edu/controller/Automatic-Transfer.html
What is the timing of the gift transfer process?
Transfers will be on the 1st, 2nd and 3rd Monday and the last working day of each month. The calculation occurs fours days before the transfer, so the process will calculate transfer amounts on Thursday night for a Monday transfer, and will record the cash receipt in the respective FOPPS (speedtypes) on the following Monday night. Due to bank and university holidays, these days may vary. A calendar is available at Wire Transfer Calendar
At the end of every month, the tolerance (defined in this database) will be set to zero ($0). See the OUC website for more information: http://www.cusys.edu/controller/Automatic-Transfer.html
For gift funds, what is the "available balance" of the Automatic Transfer Process?
The available balance generally is equal to the cash balance in the CU Foundation account. Therefore, the transfer request will be limited to the available balance. For example, if the FOPPS (speedtype) deficit is $5,000 and the CU Foundation's available balance is $4,000, the transfer will be limited to $4,000.http://www.cusys.edu/controller/Automatic-Transfer.htmlGift Programs
What are the restrictions on gift fund journal entries?
The Restrictions on Gift Fund Journal Entries Initiative provides a structure to: restrict organizational units involved in moving money from one gift FOPPS (speedtype) to other FOPPS (speedtype) to only those FOPPS (speedtypes) having similar donor restrictions; and ensure that the primary approver of non-routine transactions (or journal entries) is individuals with assigned responsibility for such gift funds (known as gift approver) or a higher authority level (such as campus controller). Please note that on the UCD campuses, all journal entries require approval by either the Finance Office or SPA/OGC, so the gift approver field is left blank on these gift speedtypes. https://www.cusys.edu/controller/documents/Gift%20Fund%20Transfer%20Journals%20Final.doc
What are the gift attributes on a speedtype?
The Gift Attributes on Speedtype Iitiative enhances the Finance System by providing additional information fields in order to: provide reasonable assurance that all gift speedyypes have sufficient information for the organizational unit to understand and comply with the gift purposes; identify gifts received through the CU Foundation versus other sources; create a one-to-one relationship between the CU Foundation gift account and the university's gift FOPPS (speedtype); and provide information to facilitate the restrictions on gift fund journal entries and provide information to facilitate the automatic transfer process for CU Foundation funds .http://www.cusys.edu/controller/Gift-Attribute.htmGift Programs
For gift funds, what is the "Foundation Related" checkbox for?
To indicate whether or not the gift is through the CU Foundation, the checkbox should be checked if the speedtype is to receive transfers from the CU Foundation. The checkbox should not be checked if the speedtype is not to receive transfers from the CU Foundation.http://www.cusys.edu/controller/Gift-Attribute.htmGift Programs
For gift funds, what is the "Foundation Fund Number" checkbox used for?
The checkbox is used to indicate the related CU Foundation fund number. If there is a related CUF fund number, it will be selected from a drop down list that is limited as follows: when a CU Foundation fund number is being selected on the gift attribute page, the information available to populate the fields will be limited to a speedtype with an allowable EPC and Auxiliary Enterprise, as assigned to the speedtype's program (see definition see http://www.cusys.edu/controller/fin-system-values.html
); CU Foundation funds with an Active status; or CU Foundation funds not already associated with a university FOPPS (speedtype).http://www.cusys.edu/controller/Gift-Attribute.htmGift Programs
For gift funds, what is the "Foundation Fund Status" used for?
For gift funds, what is the "Description - Fund Name" checkbox used for?
For gift funds, what is the "Gift Description" checkbox used for?
For gift funds, what is the "Other Comments" checkbox used for?
For gift funds, what is the "Gift Approver - Program Fiscal Manager" checkbox used for?
This field is not used on the UCD campuses, as all journal entries require approval by either the Finance Office or SPA/OGC. On other campuses, this field is used to indicate that the gift approver is a new role in the Finance System. This role grants permission to the following identified individuals to approve journal entries affecting their gift FOPPS (speedtype) provided that the other half of the journal entry involves a gift FOPPS (speedtype) that has a compatible gift expense purpose code.http://www.cusys.edu/controller/Gift-Attribute.htmGift Programs
For gift funds, what is the "Emplid" checkbox used for?
This field is not used on the UCD campuses, as all journal entries require approval by either the Finance Office or SPA/OGC. On other campuses, this field is used to indicate the employee ID of the gift approver. This information is provided by either the CU Foundation or the University Treasurer http://www.cusys.edu/controller/Gift-Attribute.htmGift Programs
For gift funds, what information should be used for the "Name" box?
For gift funds, what is the "Alternate Gift Approver 1 - Program Fiscal Principal" checkbox used for?
This field is not used on UCD campuses, as all journal entries require approval by either the Finance Office or SPA/OGC. On other campuses, this field is used to indicate who the alternate gift approver 1 is. This is a new role in the Finance System, and it grants permission to the following identified individuals to approve journal entries affecting their gift FOPPS (speedtype) provided that the other half of the journal entry involves a gift FOPPS (speedtype) that has a compatible gift expense purpose code. Alt. Gift Approver 1=Program Fiscal Principal; Alt. Gift Approver 2=Organization Fiscal Manager; Alt. Gift Approver 3=SpeedType Additional Contacthttp://www.cusys.edu/controller/Gift-Attribute.htmGift Programs
For gift funds, what is the "Alternate Gift Approver 2 - Organization Fiscal Manager" checkbox used for?
This field is not used on UCD campuses, as all journal entries require approval by either the Finance Office or SPA/OGC. On other campuses, this field is used to indicate who the alternate gift approver 2 is. This is a new role in the Finance System, and it grants permission to the following identified individuals to approve journal entries affecting their gift FOPPS (speedtype) provided that the other half of the journal entry involves a gift FOPPS (speedtype) that has a compatible gift expense purpose code. Alt. Gift Approver 1=Program Fiscal Principal; Alt. Gift Approver 2=Organization Fiscal Manager; Alt. Gift Approver 3=SpeedType Additional Contacthttp://www.cusys.edu/controller/Gift-Attribute.htmGift Programs
For gift funds, what is the "Alternate Gift Approver 3 - SpeedType Additional Contact" checkbox for?
This field is not used on UCD campuses, as all journal entries require approval by either the Finance Office or SPA/OGC. On other campuses, this field is used to indicate who the alternate gift approver 3 is. This is a new role in the Finance System, and it grants permission to the following identified individuals to approve journal entries affecting their gift FOPPS (speedtype) provided that the other half of the journal entry involves a gift FOPPS (speedtype) that has a compatible gift expense purpose code. Alt. Gift Approver 1=Program Fiscal Principal; Alt. Gift Approver 2=Organization Fiscal Manager; Alt. Gift Approver 3=SpeedType Additional Contacthttp://www.cusys.edu/controller/Gift-Attribute.htmGift Programs
What are ID (interdepartmental) account codes?
ID account codes are used when the selling department is in either fund 10, 20, 26, or 29 (and NOT an Internal Service Center or an Auxiliary Enterprise). Departments in these FOPPS were set up for purposes other than to provide goods/services to other departments, but will occasionally do so. In other words, this category refers to those miscellaneous transactions providing goods or services from one department to another, e.g., sale of manufactured chemicals, sale of a professor's time to conduct a study, facility repair services, housing services, police services, etc. Note: FOPPS in funds 28, 30, 31, 34, 50, 71, 72, 73, 74 and 78 cannot be selling departments for other (ID) interdepartmental sales. The selling FOPPS will record revenue for other (ID) interdepartmental revenue in accounts 390000 - 399999 (Other ID Revenue). The purchasing FOPPS HAS to use an expense account from the designated list of Other Interdepartmental Expense Accounts (Other ID Expense Accounts). Departments cannot use just any expense account from the full chart of accounts. The ID revenue and expense accounts set up as of this printing are listed in the QRC section immediately following the revenue section and preceding the asset section. A complete list of ID revenue and expense accounts is listed on the Chart of Accounts available on the System Controller's Web site. Each internal sale and purchase must use the designated ID accounts in order to identify both sides of these transactions and report them in our financial statements and on the state accounting system in a manner that does not inflate total revenue and expense from internal sales. The department recording the transaction (usually the selling department) is responsible for ensuring the designated ID accounts are used on both the selling and purchasing FOPPS.
For gift funds, what is the "Gift Purpose Code 1" checkbox used for?
For gift funds, what is the "Gift Purpose Code 2" checkbox used for?
How can I learn more about the CU Foundation?
What pertinent policies and regulations apply to gift programs?
How can I contact someone in the Finance/Accounting Services Office?
Can I purchase alcohol with university funds?
University funds cannot be used for the purchase of alcohol, except as for research purposes and for purposes that do not include personal consumption; for resale by a licensed establishment; for personal consumption at conferences (special rules apply in this case -- please see attachments A and B of the Alcohol Purchase and Provision Policy) or special events (you must contact the OUC in advance in this case); or for personal consumption at official functions if the source of the university funds is (1) gifts restricted for entertainment, donor cultivation, or personnel recruitment purposes (receipt of funds must be in advance of the official function and on deposit with the CU Foundation or CU, and the related speedtype must have the "Y" attribute recorded correctly in the gift expense code 2 field in the finance system) and (2) approved by the appropriate Vice President or Vice Chancellor of Finance. The university will not pay for alcohol that is purchased for personal consumption as a part of a meal while in travel status. The appropriate Vice President or Vice Chancellor of Finance must approve all alcohol purchased for personal consumption at official functions. This authority cannot be delegated. To ensure proper management of an activity where alcohol is provided (whether donated or purchased), organizational units are required to comply with the procedures detailed in the APS on Alcohol at the System Controller's website.https://www.cu.edu/articles/upload/4018.pdfhttps://www.cusys.edu/controller/documents/gift_purpose_codes.xls
For a clinical trial, every month (or even every quarter) there is a meeting to discuss the status, results, etc. This is done over the lunch hour and includes the departmental doctors, PRAs, etc. Can lunch be purchased for this meeting?
What is a Fiscal Principal?
A Fiscal Principal (found on orgs, programs, and projects) is the principal administrator of a unit, entrusted with programmatic and financial responsibility. The Fiscal Principal may delegate fiscal responsibilities to the Fiscal Manager, but retains ultimate accountability for the activities of the unit.https://www.cu.edu/articles/upload/4014.pdf
What is a Fiscal Manager?
A Fiscal Manager (found on orgs, programs, and projects) is designated by the Fiscal Principal, assists the unit head/Fiscal Principal in carrying out financial duties, and has authority and responsibility for fiscal transactions.https://www.cu.edu/articles/upload/4014.pdf
What is the OUC?
The OUC is the Office of the University Controller, aka the System Controller's Office. The mission of the University of Colorado System Controller's Office is to direct and control the University of Colorado's four campus system accounting processes through development and implementation of policy and procedures to comply with applicable laws, rules, and regulations; direct and control all external financial reporting of the University of Colorado; and act as a liaison for the university with external financial oversight entities including the State Controller and external audit agencies.
Where can I find the tax exemption certificates and other related documents?
My department has a long-time faculty member who is retiring, and we would like to buy him a retirement gift with university funds. Is this allowable, and if so, how much can we spend?
Since this is a long-time employee who is officially retiring from the university, this would be classified as a "length of service" award and would be permissible under the following conditions: 1) The department may give a non-cash gift with a value of up to $400.00* that is not taxable to the retiree; or 2) The department may give a cash gift or a cash-like gift (gift certificate) with a value of up to $400.00, but these are taxable to the retiree. Please remember that any cash or non-cash gift should be funded only after careful review of the costs (which should be sensitive to the availability of funds in the speedtype and reasonable under the circumstances). If the gift will be taxable, the department needs to notify the Procurement Service Center. For account codes and other related information, see the PSC Procedural Statement on the PSC website:
https://www.cusys.edu/psc/procedures/PPS/PPS_Recognition_and_Training.pdf *This reflects the current tax year limit and is subject to change.
Our department buys chairs with engraved plaques for our graduating chief residents. The cost is somewhere in the range of $499.00 plus about $25.00 for shipping. Will these be taxable to the resident?
Where can I find the Chartfield Set-up form?
Where can I find the Finance System Access Request forms?
Where can I find the Human Resource System Access Request form?
Where can I find the CIW (Central Information Warehouse) Access Request form?
What is a Batch Header form, and where can I find it?
What is a Cash Receipt form, and where can I find it?
The Cash Receipt form is used to make deposits at the Bursar to a PeopleSoft account. It tells the Bursar the speedtype, account, amount, and description to post to the general ledger. Normally, deposits are for revenues or payments on accounts receivables, but other accounts may be appropriate under certain circumstances. It is located at:
What is a Cost Allocation Survey, and where can I find it?
What is the Gift Fund Responsibility Acknowledgement, and where can I find it?
What is a Payment Voucher, and where can I find it?
What is a Travel Voucher, and where can I find it?
What is a UBIT Questionnaire, and where can I find it?
What is the My Speedtypes - Sponsored Projects form, and where can I find it?
What is the My Speedtypes - Programs form, and where can I find it?
The My Speedtypes - Programs form is an organizational and training tool for staff and faculty to help administer and communicate about their program speedtypes, including gifts. It provides a digital format for recording contact info, links to pertinent policies/websites, history and caveats, financial info, and can store files (copies of email messages, voicemail messages, financial reports, etc). It is located at:
What are Regent Laws and Policies, and where can I find them?
The Board of Regents consists of nine members serving staggered six-year terms, one elected from each of the state's seven congressional districts and two from the state at-large. The board is charged constitutionally with the general supervision of the university and the exclusive control and direction of all funds of and appropriations to the university, unless otherwise provided by law. Regent Laws are the laws of the university as directed by the Board of Regents. Regent Policies are the operating policies of the university and include guidelines for implementing the laws of the Regents. Administrative Policy Statements are the procedural policies of system administration for implementing the laws and policies of the Regents.
What are Administrative Policy Statements (APS), and where can I find them?
Administrative Policy Statements are the procedural policies of system administration for implementing the laws and policies of the Regents. They are located on the OUC website at:
What are Draft Administrative Policy Statements (APS), and where can I find them?
Draft APS are Administrative Policy Statements that are still under revision or are waiting for approval. They are located (for viewing by employees only) at:
Where can I find Fiscal Administrative Policy Statements (APS)?
Where can I find General Administrative Policy Statements (APS)?
Where can I find Personnel Administrative Policy Statements (APS)?
Where can I find Property / Facilities Administrative Policy Statements (APS)?
Where can I find State of Colorado Fiscal Policies?
Where can I find UCD policies?
Where can I find Downtown Denver Campus (DDC) policies?
Where can I find Anschutz Medical Center policies?
Where can I find Academic Administrative Policy Statements (APS)?
What is a subclass?
A subclass is an optional Chartfield value that can be set up in the Finance system upon request in order to assist departments in tracking financial activity. Please contact the Finance department for more information.
What does the gift attribute "Name" reflect?
What kind of business fundamentals training is available?
Good Business Practices is a Blackboard course, as are Coaching and Feedback, and Fiscal Code of Ethics. The Finance department is currently developing an Accounting 101 course at UCD--and the Boulder campus has one as well and welcomes other campus employees and affiliates. For more information, log in to Blackboard
(use your employee or non-employee id as both user name and password) and search the course catalog for courses. Also see: Finance Training.
What kind of compliance training is available?
There are many types of compliance training available at CU -- many are available on Blackboard, our online training delivery system. Our Fiscal Code of Ethics course explains CU's Fiscal Code of Ethics; PERS (Personnel Effort Reporting) training is also available on Blackboard, as are HIPAA (Health Insurance Privacy and Portability Act) courses; and FERPA (Family Education Rights and Privacy Act) courses. The Anschutz Medical Campus has developed "Research Administration Start-to-Finish
", a guide for sponsored projects administration on Blackboard; similarly, the DDC campus offers "Contract and Grant Administration" on Blackboard
. The OUC's Compliance Unit, located downtown in the PSC offices, will be developing new training initiatives as new policies are developed and as new directives are mandated. Other campus-based compliance related courses, documents, and tools are available on the Finance Website
, and the OUC website
What kind of financial and procurement training is available?
What kind of Human Resources training is available?
HR courses are offered in both Blackboard and instructor-led formats, and are part of our Human Resources Suite of courses required for Human Resources System access. For more information, please see HRMS Training
What kind of safety training is available?
There are several safety-related training courses available on Blackboard, such as Hazardous Materials and Waste Management, Shipping Biological Agents, Radiation Safety, Lab Safety, Bloodborne Pathogens, and Asbestos Awareness. See the Blackboard site for more course information:
What is Blackboard?
What do I need to know about alcohol purchased for official functions?
What is the COGNOS Reporting Tool?
What is the Gift Fund Set-up form, and where can I find it?
What is a non-current liability?
Non-current liabilities are those obligations that will not become due and payable in the coming year. At CU, non current liabilities include payables and accrued expenses non-current, other liabilities noncurrent, debt noncurrent, and due to.
What are expenses (or expenditures)?
Expenditures (expenses) are accounting entries that recognize the consumption of assets. Salaries, fringe benefits, office supplies, travel, depreciation, etc. are examples of expenses. CU recognizes expense at the time the goods or services have been received, regardless of when the actual payment is made.
What is a transfer?
What is an auxiliary fund?
An auxiliary fund accounts for revenues generated by departmental activities. CU's auxiliary funds are fund 20, fund 26, fund 28, and fund 29. Fund 20, the Auxiliary TABOR Enterprise Fund, is used to account for the revenues and expenses of those self-funded entities that have been formally designated by the Board of Regents as TABOR Enterprises. The revenues are exempt from TABOR reporting. Fund 26, the Auxiliary Other Exempt Fund, is used to account for revenue generated through departmental activity that is exempt from TABOR reporting for reasons other than being designated a TABOR Enterprise or an internal service center. This primarily includes residuals on federal fixed priced contract sponsored projects (fund 30 clinical trials) and royalties. It is crucial that auxiliary revenue be accounted for properly. See the UCD Auxiliary Revenue Guide for more information:
For gift funds, what is the "Gift Description"?
It is used to indicate the name of the fund. If it's a CU Foundation fund, the CU Foundation will provide this name; and if it's direct to the university, the Treasurer will provide this information. Checkbox Yes, provided by CU Foundation. Checkbox No, is not applicable. See:
Are there allowable cash transfers in non-gift programs?
How are non-gift programs closed?
The UCD Finance/Accounting Services Office closes non-gift programs upon receipt of a chartfield request form. Before closing there should be no cash, budgets or encumbrances on the program.
How are non-gift programs set up?
Is there a place I can find lots of different CU policies?
Where can I find information about sponsor policies for my sponsored project?
What is the Balance Sheet (SNA) Transactions report?
The BALANCE SHEET (SNA) TRANSACTIONS REPORT shows in detail by account code: Assets-Account Codes 000000-099999, Liabilities-Account Codes 100000-199899, and Fund Balance-Account Codes 199900-199999. This report is an itemized list of all transactions occurring on a particular speedtype for the period of the report. The period that the report covers is noted in the header at the top of the report. Assets - examples of Assets are Cash, Accounts Receivables, and Inventory. Simply put, an Asset is something you have. Liabilities - examples of Liabilities are Accounts Payable and Contingent Liabilities. Simply put, a Liability is something you owe. Net Assets - Fund Balance is the difference between the Assets and Liabilities of a Project or Program. Previous To Date Column - shows the balance in each Account Code at the end of the previous period. Current Month Column - shows the transactions for the current period. This column will show each individual transaction that occurred for the month. The transactions for Cash and Fund Balance will not show individually but will show the net change for the month. Total To Date Column - shows the balance in each Account Code at the end of the period the report is for. For example, the Balance Sheet Transactions report for the Period 08/01/03 thru 08/31/03, shows the balances of the Account Codes at 8/31/03. For Funds 20, 26, 28, 29, 30 & 31 WITHOUT a budget, 34, 72, and 80 this is the report to use to find out how much you have left to spend in the speedtype. Find Account 000100 Cash and go to the column titled "Total To Date". If this figure is "+" positive you have Cash left to spend. If this figure is in parenthesis ( ) you have overspent Cash. If you have any outstanding Liabilities also in the Total To Date column, remember that your Cash balance has not been reduced by these Liabilities. When the Liabilities are paid the Cash in the Speedtype will be reduced. Also, the Cash balance does not include any Encumbrances that are outstanding against this Speedtype. Encumbrances show on the Summary of Financial Transactions report as described on page 3 of this document. When encumbrances are paid, the Cash in this Speedtype will also be reduced. For more information, please see the following documents:
What is the Detail of Financial Transactions report?
The DETAIL OF FINANCIAL TRANSACTIONS REPORT (Detail of Budget, Revenues, Expenditures, and Transfers) shows in detail by account code: Budget Transactions Revenues-Account Codes 200000-399999, Expenditures-Account Codes 400000-989999, and Transfers-Account Codes 990000-999999. This report is an itemized list of all transactions occurring on a particular speedtype for the period of the report. The period the report covers is noted in the header at the top of the report. Use this report to check that all transactions anticipated have occurred for the period of the report. If transactions are missing or in error, follow up with the appropriate individual to correct the transaction. Some transactions will have the name and phone number listed for the person who initiated the transaction. Others will not. When you are unsure of whom to contact on a transaction please refer to the Journal Source Code Contact Listing which lists contact names and phone numbers for each source code used within the Financial System. Note the column on this report labeled Jrnl Ln Description/Journal Source. Each transaction on this report will have a Journal Source (i.e. HEN, AP, HEZ, PO, etc.). By using the web site above and the journal source code associated with the transaction you can determine the appropriate contact for the transaction. You can also look up these entries in the PeopleSoft panels. Instructions for this process are located at https://www.cusys.edu/System_Controller/help/. Note that there are three columns of transactions on this report: Budget, Req-Encumb/Encumbrance, and Actuals Exp/Rev. The Budget column will show those transactions input through a Budget Journal Entry. The Requisition Encumbrance (Pre-encumbrance) and Encumbrance column will indicate any change in the encumbrance activity for the period. The Actuals column will show Expenses, Revenues, and Transfers. For definitions of these transactions refer to page 3 of this document. The main purpose of the Detail of Financial Transactions report is so departmental users can ensure that transactions are accurately posting to the correct Speedtypes. For more information, please see the following documents:
What is the Outstanding Encumbrances report?
The OUTSTANDING ENCUMBRANCES REPORT is an itemized list of all encumbrance transactions occurring on a particular speedtype for the period of the report. The period that the report covers is noted in the header at the top of the report. Payroll encumbrances are driven by the HR panels within PeopleSoft. This information is input by your departmental payroll liaison. If you find that amounts for payroll are not encumbering correctly, contact your departmental liaison to ensure that the funding distribution has been input correctly for each individual employee. Requisition and purchase order encumbrances are driven by users in the department entering and approving requisitions and Purchase Orders. Contact the PSC (Procurement Service Center) help desk at 315-2846 if you have any problems with procurement encumbrances. For more information, please see the following documents:
What is the Summary of Financial Transactions report?
The SUMMARY OF FINANCIAL TRANSACTIONS REPORT (Summary of Budget, Revenues, Expenditures, and Transfers) shows in summary by account code: Budget Transactions Revenues - Account Codes 200000-399999, Expenditures-Account Codes 400000-989999, and Transfers-Account Codes 990000-999999. The date the report shows transactions through is listed in the header at the top of the report. For programs (i.e. Funds 10, 20, 26, 28, 29, 34, 72, 80) the report is from the beginning of the current Fiscal Year (7/1/xx) through the date on the report. For projects (i.e. Funds 30 and 31) the report is from the Budget Begin date listed in the upper right corner of the report through the date on the report. Budget transactions are those transactions input via a Budget Journal Entry into the CU Financial System. Fund 10-budget entries are the amount that can be spent on a particular speedtype. Fund 20, 26, 28, 29-budget entries are merely estimates of projected revenues, expenditures, and transfers for the current fiscal year. These amounts are determined by the individual departments on a yearly basis. Fund 30 and 31-budget entries, if present, are the amount that was authorized by the sponsor to spend for the particular grant or contract. These amounts are input by the Anschutz Medical Campus Office of Grants and Contracts or UCD Department of Sponsored Programs from the Notice of Grant Award. "Actual" transactions - an actual transaction is an event that has occurred (i.e. a vendor has invoiced UCD, salary has been paid to an employee, a payment has been received by UCD, etc.). Actual transactions will include revenue, expenditures, and transfers. Encumbrance transactions - encumbrances are commitments that are not yet liabilities, such as future payroll transactions, F&A (Indirect Costs on a Fund 30 or 31), and Purchase Requisitions. Encumbrances alert statement users to commitments pending. Once a commitment becomes a liability it will move from the encumbrance column on this report to the Actual Transaction column. A commitment becomes a liability when goods or services are received and accepted. Two types of encumbrances: 1. Pre-encumbrance - results when a "requisition" is input and approved via the PeopleSoft panels; and 2. Encumbrances result from several different sources: Payroll - HR funding distribution panels Purchase Orders - Purchase Order is input and approved via the PeopleSoft panels F&A - for Funds 30 or 31 the encumbrance will be Budget $ minus Actual $ = F&A Encumbrance. Standing Purchase Orders (SPOs) - SPOs are automatically encumbered on subcontracts paid from Funds 30 or 31. For funds 30 or 31 where the SPO is not paying on a subcontract the encumbrance must be requested by the department. SPOs on all other funds are not encumbered. For Funds 10, 30 and 31 WITH a budget, this is the report to use to find out how much you have left to spend in the speedtype. Go to the last line of the report titled "Total Expenditures" or "Grand Total" and then go to Column "I" on the report, "Available Balance". If this figure is "+" positive you have budget dollars left to spend. If this figure is in parenthesis ( ) you have overspent the budgeted amount. Encumbrances have already been subtracted from the "Available Balance" amount. For more information, please see the following documents:
What are the funding sources for sponsored projects?
What are the pertinent polices and regulations related to sponsored projects?
What is personnel effort certification?
Personnel Effort Reporting (PERs) is CU's employee effort reporting and certification procedure required for complicance with federal regulations. Compliance with these regulations is necessary to assure continued federal funding,a nd therefore is required on all projects. Please self-enroll in the Blackboard training course, "Personnel Effort and Reporting", at: http://blackboard.cuonline.edu/webapps/portal/frameset.jsp
NOTE: Use your CU employee or non-employee ID as both user name and password to log in.
What kind of training is available for ePERS (electronic personnel effort reporting)?
Personnel Effort Reporting is a federal requirement for everyone working on a sponsored project. Blackboard offers the course, "Personnel Effort Reporting".
To enroll in this course go to http://blackboard.cuonline.edu/webapps/portal/frameset.jsp
, log in with your CU employee or affiliate ID as both user name and password, select the "Course Catalogue" tab, then "Browse Course Catalogue", and enter all or part of the course name in the search box. Then select "Enroll".
What is meant by carry forward of unobligated funds?
Unobligated funds are the portion of the funds authorized by the sponsor that has not been obligated by the awardee, and the amount is determined by deducting the cumulative obligations at the end of a budget period from the cumulative funds authorized for the budget period. Carryforward of these funds refers to the sponsor approving that the unobligated funds can be used in the next budget period.
What is an application for a sponsored project?
How can I learn more about proposal processing for sponsored projects?
What is a gift program (gift fund, fund 34)?
Gift programs refer to financial awards received from external sources through the CU Foundation or direct to the university. We have a duty to ensure that gift fund expenditures are made in accordance with donor wishes, and are in compliance with all applicable rules, regulations, policies, and procedures. Please see the OUC website for more information:
What is the PSC?
The Procurement Service Center (PSC) was created in July 1999, within System Administration to streamline the administrative tasks related to procurement and payables functions for the University's campuses (Boulder, Colorado Springs, and Denver/Anschutz Medical Campus). PSC staff performs three major functions: purchasing services, payable services, and training/documentation services. See the PSC website for more information:
What is the Procurement Card (aka the ACard, EZA Card, Procurement Card)?
These terms all refer to our procurement credit card, which is a MasterCard, issued to a specific individual. The card is used by University of Colorado staff, faculty, students, and affiliates to purchase small-dollar items (maximum up to $4,500) for university use. The authorized cardholder is able to purchase directly on behalf of CU, thereby allowing tax-exempt use. Transactions are paid directly by the university to the bank. Where procurement card use is allowed, the card is the preferred method of purchase since it is a quick, easy, cost-effective way in which to procure goods and services for the institution. It is a particularly useful method of procurement for online ordering. See the PSC website for more information:
What kind of procedure is required for gift in kind?
Gifts in Kind are handled differently depending on the type of Gift in Kind:
1. Basically, if the gift is (1) valued at less than $5,000, which is not an addition to an existing collection, and (2) not accompanied by a bilaterally executed written contract or agreement, the department sends the letter, following the procedures outlined in the Administrative Policy Statement "Gift In Kind Transactions" located at:
2. If the Gift in Kind is (1) valued at greater than $5,000; (2) valued at any amount and attached to a bilaterally executed written contract or agreement; or (3) represents an addition to an existing university collection, you cannot accept the Gift in Kind until it has been approved by the campus Controller. In this case, Attachment "C" to the Gift in Kind Transactions Policy Statement (Gift in Kind Acceptance Form), must be completed by the department, forwarded to the campus Controller and approved by the campus Controller before the Gift n Kind can be accepted by the department. Please refer to University Policy Statement "Gift in Kind Transactions" for the entire policy, located at:
How long are payroll and benefits encumbered?
For encumbrance calculations, the system program looks at a series of dates, finds the earliest one, and then calculates the encumbrance amount through that date. The dates that are looked at in the process are:
Project Budget End Date (for grants and contracts as set up in the Finance System)
Funding End Date
Appointment End Date
Contract Pay End Date
Therefore, it is important for administrators to understand what dates the the payroll liaison has entered in the HR system in order to understand how the encumbrances on a specific speedtype are calculated. For more information on the HR set-up process, see the "Administer Workforce" and "Manage Positions" modules at:
Can visa charges for international students / employees be paid with a payment voucher?
Where can I find out about the latest financial and compliance-related issues?
What is Fiscal Certification and where can I find more information about it?
What are the new mileage reimbursement rates?
How do you change incorrect information that is in fields in PeopleSoft...i.e. The campus box is wrong. Who do I contact?
For UCD non-gift programs, contact the Finance office.
For UCD projects, contact your postaward administrator at OGC.
For UCD gift programs, contact the OGC office.
If you just have a gift fund account number from the foundation but not a CU speedtype, is there a way to look up the linked CU speedtype and its information?
Yes. In Finance Production, navigate to: General Ledger > Chartfields > Speedtype. In the speedtype panel, you would go to "Foundation Fund" and type in the foundation account number (the number should start with zero and have no dashes), and then Search to find out if there is a speedtype linked to that foundation fund.
With the new reporting tool, how do I know what reports will appear in my portal?
To whom do I send an interdepartmental invoice (IN/JE) to be processed?
Below is a link to instructions for processing an IN. Basically, if you are the ordering department, you complete the top section of the form and send it to the servicing department. It is the responsibility of the servicing department to complete the IN and either do a journal entry to enter the transactions into the financial system or to send the IN to the Finance Office, Data Control Section (Campus Box D129), for input into the financial system. See:
With respect to reading financial reports for clinical trials which do not have a budget set up in the financial system, how do I understand how much a sponsor has paid to date, since the new revenue recognition policy matches revenue to expenses?
On the Balance Sheet Detail report, look under "ASSETS". If any payment has been received during the current month or carried over from a previous month, it will show up as a credit balance under the heading "Accounts Receivable" in the column "Current". Another shortcut is to add the current cash balance plus expenses charged to the project. This amount totals cash received thus far. Finally, the Downtown Denver CIW
website has a payment received query (requires CIW access). More accounting details: If a sponsor pays "upfront" money before expenditure transactions are created, the system will debit the $$ to cash and credit the $$ to accounts receivable. Since a credit in accounts receivable is an abnormal balance, the system will make an adjusting entry at the end of each accounting period that debits the accounts receivable for the abnormal balance $$ and credits "unearned revenue" for the same $$. Once a new accounting period is opened, the system reverses the adjusting entry. It debits "unearned revenue" and credits "accounts receivable", once again creating an abnormal balance. During the month, as expenses occur, the system:
--debits the expense accounts
--credits revenue for a matching amount
--debits accounts receivable for a matching amount
--credits cash for a matching amount
How does the revenue get paid on a sponsored project? Who bills the sponsor? How is the invoice generated?
It depends on the sponsor and the type of sponsored project:
Most federal agencies, like NSF and NIH, pay via letter-of-credit draw-downs. During the month, funds are drawn down electronically from the sponsor to match expenditures, as long as the expenditures are within the budget and the expense has been incurred (e.g. is not an accounts payable entry).
Sometimes the sponsored projects office bills the sponsor via an invoice generated in SPINS -- the sponsored projects information system that is used to set up the project initially.
Occasionally, departments bill the sponsor directly, with their own invoice form, e.g. in the case of a clinical trial when payment is based on the number of patients enrolled in the trial. When the department receives the payment, they forward it to the sponsored projects office for deposit, or make the deposit themselves.
Finally, in some instances, the sponsor pre-pays without being billed.
How are patient incentives in clinical trials handled for the patient's tax purposes? Are they issued a 1099 to include the payments as income?
Where is the department transfer of capital equipment form?
How exactly does the system calculate payroll encumbrances?
Does a report exist that shows POs/SPOs/PRs that are awaiting my approval? I have a worklist function in HRMS, but not in the Finance system.
Currently, there is not a report but the information is easy to find in the Finance system: Go to Purchasing > Requisitions > PO Req Approval, and enter approving org number. That will bring up anything for that org that needs approved. (The same goes for DPO and SPO Reqs).
Where can I find a list of fiscal period closing dates?
How is jury pay handled? Is it paid to the employee or the university? Is it revenue? Is it allowed to be charged to a grant?
If the person is classified, the employee keeps the pay (see PBS Procedures Guide p117
.) If the person is faculty or exempt, the university gets the pay. Jury pay is not revenue because there is no exchange, and it is clearly not a gift. Rather, it is similar to worker's compensation reimbursement, so it should be credited to expense using a NHRMS code for the appropriate employee class. Pay for jury duty is a standard university practice, like vacation time, and as such is allowable under A-21, so the reimbursement should follow the salary and be credited in the same speedtype, even if it is a grant.
Who to contact to order printed IN forms (multi-paper/carbon copy variety)?
I have a non-employee who we need to reimburse for some travel expenses. He refuses to give us his SSN. Can we still process?
Yes, CU can still process. PSC would like to have the SS# so we know we are reimbursing the correct person. We can, however, set them up as a refund/reimbursement vendor and still pay them. Please add a note on the Travel Voucher saying that the payee does not want to give out their SS#.
I have heard there is a form to be filled out to allow an employee to have a university purchased computer monitor at home. Is there such a form, and where I can find it?
I need access to do Correction PETs. How do I get the required training?
Contact Lori Krug at 303-735-5737 for PET training information.
Where/how do you inactivate a speedtype?
Either the Finance Office (303 315-2250) or the Office of Grants and Contracts (303 724-0090) will need to inactivate the speedtype.
What is the University policy on incentives given by vendors? Examples:
- Vendor B provides a free iPod if the purchase is over a certain dollar amount.
- Vendor C gives a free iPod with the purchase of a computer. The price of the iPod is charged to the university but then the university receives a rebate check for the cost of the iPod.
The department has the following options to handle vendor incentives:
- Allow the purchase, but require that the incentive (e.g. iPod) is university property, must be used for university business only, and would remain in the department.
- Allow the purchase, and the department would raffle the incentive (e.g. iPod) to one of its employees. If equal to or over $100, then it must be reported to PBS and will be added to the employee's W-2.
- Allow the purchase, and the department would use the incentive (e.g. iPod) as recognition for an employee with outstanding performance. The recognition event must follow the University's Recognition and Training policy https://www.cu.edu/psc/procedures/PPS/PPS_Recognition_and_Training.pdf). If equal to or over $100, then it must be reported to PBS and will be added to their W-2 according to the recognition type.
- Refuse the delivery of the incentive (e.g. iPod) with the purchase.