What is the balance available on my Project/Grant?
The Project Grant Budget Status Report (PBSR) is the tool used to determine the budget balance remaining on a project/grant (P/G). The PBSR is included in the monthly reports package mailed to Single Administratvie Point of Contact (SAPOC) and is also available on an as-needed basis in FinODS or Business Objects. The following link contains instructions for running reports in both applications: ITS Reporting by Data Area.
The budget amount reflected on the PBSR should match the total authorized amount as stated on the Project Award Notice (PAN) and Project Award Change (PAC) paperwork processed by the Office of Research and Sponsored Programs (ORSP). Please note that this amount might be different than the total anticipated award amount if the sponsor is incrementally funding the Project. The budget loaded by Sponsored Programs will only reflect dollars authorized by the sponsor to date.
In order to determine the revenue balance available on a P/G, you will need to review your Statement of Activity (SOA). The SOA is run on a monthly basis for all expenses and revenue charged to the P/G. It runs on a fiscal year cycle, so that you can see your balance on 7/1 on the fiscal year the SOA is created for, the monthly and fiscal year to date charges and your balance as of the end of the month.
Depending on the type of grant or contract you have been awarded will determine the type of revenue in your grant.
- Letter of Credit - These awards are funded every month and can be funded for more than the award. Be sure to watch your budget to make sure you do not overspend.
- Cost Reimbursable - These p/gs are usually billed on a monthly or quarterly basis. When we invoice for the charges you will see the revenue placed on your p/g. However, just because this revenue is placed on the p/g it does not mean that the invoice has been paid. You will need to monitor your Statement of Receivables to ensure that the invoices are paid.
- Advance Payment - These p/gs have the revenue deposited in the award when the project is opened. For an award of this nature, your budget should match your revenue and both balances will be the same.
- Pay Schedule - These awards come with a set payment schedule set up in the award. This could be based on dates during the award time or milestones that need to be completed.
- Clinical Trial Agreements - These are special Pay Schedule awards based on the number of patients placed in the trial. The award will spell out the amount to be paid based on the patient and their progress through the trial. Sponsored Programs sets these awards up on a Budget=Revenue basis and will not allocate a budget until a payment is made by the sponsor.
- Fixed Price - These awards can be paid in any number of ways, but the main benefit of these awards is that any remaining balance at the end of the award does not have to be returned to the sponsor.
Please contact your Sponsored Programs Customer Service Coordinator for specific questions regarding the type of award you have or your balance.