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# WINGS Navigation for Grants Business and Fiscal Officers Meeting February 15, 2011 Presented by: Danielle Booth and Elaine Davis Research and Sponsored.

## Presentation on theme: "WINGS Navigation for Grants Business and Fiscal Officers Meeting February 15, 2011 Presented by: Danielle Booth and Elaine Davis Research and Sponsored."— Presentation transcript:

WINGS Navigation for Grants Business and Fiscal Officers Meeting February 15, 2011 Presented by: Danielle Booth and Elaine Davis Research and Sponsored Programs

How to read your grant in WINGS Express 1. How to navigate within WINGS Express. 2. How to see the grant attributes and what this means. 3. What should be displayed to properly read your budget. 4. What do the columns represent. 5. How to determine what the true available balance is. 6. How to determine how much was spent during a particular period. 7. How to see expense details. 8. How to correctly write a JV. 9. My grant is overspent, now what? 10. Grant Closeout

Grant Attributes This detail provides information about the award such as the F&A that is assessing, the start date and end date, if there is cost share required, the default org, program code for FOP, the grants accountant to contact and more.

How to read your budget Accounted budget represents the current budget approved by the sponsor. Year to Date represents expenses that have posted to the grant. Encumbrances are future obligations that are planned to be expensed. Available balance is the formula: Budget – Year to Date – Encumbrances \$3,840,959.73- \$2,887,826.38- \$549,108.18= \$404,025.17

How to read your budget To calculate the directs available, take the actual balance and divide out the F&A. For example 45% F&A is assessing on this grant. \$26,877.00 – 19,553.61 = \$7,323.39 is the available balance. 7,323.39 / 1.45 = \$5,050.61 This calculation is helpful when there are budgeted capital that is not spent exactly as planned or are spent without a budget; (the F&A encumbrance will distort the available balance of directs). However, please note that this formula will not work when there are expenses that have not yet posted. F&A encumbrance is a CATS calculation since Banner was unable to provide WSU with this feature. CATS simply wrote the script to take : Budget F&A – Year to Date F&A = Encumbrance for F&A. Please contact RSP for confirmation of the available balance.

Facilities and Administrative (F&A) Cost Rates How to ensure the F&A calculated is correct. This grant is assessing 45% on modified total direct costs (MTDC). \$19,553.61 -6,068.36 \$13,485.25 x.45 \$6,068.36 How to read your budget

How to compare periods for expenses In the month of October this grant spent \$83,987.35 The training will include how to setup this query.

How to see the expenses (transaction detail). A max of 100 rows will be displayed in each window, select Next 100 to display more of the transactions. Download the detail into Excel for sorting.

How to find your FO_P Results show the fund, org and program code needed.

How to determine if a fund number has been assigned The Query Results adds the column to the left of the Account. If there is a fund assigned under the grant this is where you will see it. If there is no fund assigned the Fund column will remain the same number as the grant.

The proper JV JVs (Journal Vouchers) need to include in the document text the document number(s), the description of the expense (vendor and type of expense may suffice), grant purpose to move the expense to the grant, and the date of the original transaction. This detail allows for cross reference with each of the JVs created, in order to match up for documentation purposes. In an audit, the proper JV demonstrates that the charges are for the grant.

Improper JV If you cant, no one can. ESPECIALLY the auditors (they are the eyes and ears of the grantor). Can anyone tell me what these charges are for? How do these expenses benefit the grant?

The proper JV

Reconciling the grant each month will reduce the lengthy JVs needed and will keep WSU cash flow current, as well as the grantors. Sponsors are looking more and more at the consistency of expenses throughout the life of the grant. Auditors are starting to compare progress reports with expenses to see if there is a disconnect. The proper JV

My Grant is overspent, now what? Check the expenses that posted in the Year to Date. 1.See if there are any charges that do not belong to this grant. Ex: Credit card transaction that posted is really for a different grant. 2.Payroll posted but not for within the grant period? Ex: Grant ended 9/30/10 but payroll for 10/31/10 posted. A salary redistribution is needed to fix this. 3.Check transaction detail by selecting the periods that are after the grant end date to the current date, i.e. if the grant ended 9/30/10 and the current date is 11/18/10, select period 04 and period 05 and then download to sort. Expenses purchased after the end date of the grant are not permitted. Do not be confused with encumbrance column, especially with payroll encumbrances. These are removed after the payroll run (usually once a month), if all reallocations/corrections are processed.

Grant Closeout F&A encumbrance is relieved by RSP only. And only after all other encumbrances are closed. Subcontract encumbrances are handled by RSP only. If a grant is overspent, and all the charges that posted to the grant are for the grant, then RSP will initiate a cost overrun JV to charge back to the dept org. If you do not know what to do, call RSP. The grants accountant assigned to your grant is your first point of contact. Or you may contact the Director of Post-Award, Glen Jones at glen.jones@wright.edu.

Questions?

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