3What is Commitment Control? Commitment Control (KK) is a tool provided in PeopleSoft to Assist with the management and monitoring of budgets.
4How is Commitment Control Used? There are 3 levels when KK is turned on:ControlTracking with BudgetTracking without Budget
5CONTROL Requires a budget value Will stop a transaction once it exceeds the budget. This will require an action (budget revision or find a different funding source).
6Tracking with Budget Requires a budget value Will notify Budget Manager if a transaction exceeds the budget, but will not stop the transaction.
7Tracking without Budget Does not require a budget valueWill track expenses only
8KK Decisions Globally: KK has been turned on Locally: Set KK Levels FundClassDepartmentProjectActivity
9Budget MonitoringRFP ID# BD24 requires that we can carry forward budget that excludes “One-Time” funds.
10This seeds next years budget development BD24 SolutionFY1415Current YearFY1516Next Fiscal YearPermanent Base Budget+ Permanent Changes+ Temporary ChangesFY 1415 Fiscal Year BudgetNew Base BudgetThis seeds next years budget development
11Budget Status Report Solution PermanentBudgetTemporaryFiscal YearEncumbranceActualsBalanceFY 1516FY 1415-FY 1516$XX.XX-Encumbrance-Actuals
17Terms & DefinitionsGrantPeopleSoft views a Grant as: a sum of money offered for performing the necessary functions on behalf of a Grantor to achieve a predefined result. A grant will typically specify the manner in which the functions will be performed, a time period to perform the functions, and require the reporting of measurables to ensure the grantor is achieving the desired result. Entities wishing to receive the offered amount typically submit a proposal to the grantor which contains their desire to perform the functions at the offered amount and outlines a plan to execute the necessary functions. If the grantor accepts the proposal the Grant is considered awarded.Let the post award activities commence.Collectively the PeopleSoft modules Grant Management, Project Costing, and Contract Administration support the financial and statistical functions related to competing for a Grant as well as the budgeting and reporting necessary to carry out the operations of a Grant.
18Proposal ID The user derived name given to the submitted proposal. Award ID The user derived name given to the Award. Typically this carries over from the Proposal, but can be changed. Also unless over written by the user, this ID will become the Contract ID.Business Unit A legal entity.Project The primary expected result or objective of a Grant. It is always noted in the grant. This can be almost anything from creating an event or an object, to conveyance of an idea or knowledge.Activity Operational items needed to complete the Project. In a university setting a grant aimed at eliminating adult illiteracy (project or goal of the grant) may need activities such as establishing a classroom, creating course materials, and providing an Instructor.
19Activity ID The user driven name given to an activity. Budget ID In the proposal stage of a grant Activity IDs are called Budget IDs.Program This is a major project that typically covers more than one Business Unit. Each BU could be doing a separate piece of the project or performing tasks relating to the same project in multiple areas for coverage reasons. Statewide initiatives typically fall into this category.Contract In the Grants world and other billable items world, this is a contract that is established to SELL services or objects. The associated module is called Contracts Administration. This module does not sell anything. It exists to initiate the billing process.Contract ID Unless changed the contract ID will be equal to the Grant name.Department Just as it sounds. It is typically the various operational and administrational centers needed by an entity to carry out the objectives of an organization.
20PeopleSoft Grant Life Cycle Set up Sponsor (Configured)Prepare Proposal (Manual)Submit Proposal (Manual)Generate Award (Job Scheduling)Generate Contract (Automated)Create Project (Automated)Initiate Budget (Automated)Manage Project (Manual)Close Project/Grant (Manual)
31In Project Costing, you tell the System what is Billable. Example:Project # AM9JActivities:Salaries/Benefits $Goods & Services $Equipment $Cost Share $Total Project $Total Billable $
32Things to Ponder……All Grants turn into Projects and are set up at the GRBU (GR170, GR220)All Grants are Projects, but not all Projects are Grants.The Contracts Module does not create a printable legal Contract. It sets up the Terms and conditions for billing purposes only.Projects are set up in the Project Costing Module at the PCBU (PC170, PC220)
33Legacy Grant Setup needed for Conversion Create Grant/Project NumbersCreate Org Numbers for the Grant Activity or ActivitiesLinkthe Grant/Project number to the Activity