The following guide is intended to show all stakeholders of the Sponsored Awards Process including Grants Account Receivables Specialist, Award Administrator, IADF Administrator, and Project Billing Specialist how to Update or correct F&A (Burden Schedule) setup and recalculate indirect costs.

 

Award: An award is the umbrella record that contains comprehensive demographic and financial information for a sponsored research agreement.

Award Funding: The total anticipated funding, both direct and indirect, per Funding Source for an award.

Award Personnel: The key members associated with an award.

Billing Events: Fixed fee monetary amounts used for billing in lieu of invoicing costs incurred.

Burdening: The process of calculating indirect expense.

Contract: A record incorporating the necessary billing attributes and revenue attributes for the generation of invoices and revenue recognition to occur for an award.

Expenditure Item: A cost transaction that includes POETAF attributes along with a transaction date and other attributes.

Funding Allocation: The proportion of total anticipated funding dedicated to a project.

Funding Sources: Funding Sources refer to the organizations or entities that provide the financial resources for a specific project(s) in an award.

Invoice Method: Billing attributes associated with one or more contract lines on a contract and used to generate sponsor invoices for the contract.

Letter of Credit (LOC): A payment method whereby the research institution is authorized to draw government funds in lieu of sending an invoice.

POETAF: An acronym that represents the most granular level of detail of a project. It is a combination of project segments that describe an expenditure item, including Project, Expenditure Organization, Expenditure Type, Task, Award, and Funding Source.

Principal Investigator: The person leading and managing the research agreement.

Project: A primary unit of work that can be broken down into one or more tasks containing demographic and financial information at a more detailed level than an award. Multiple projects may exist to differentiate among funding years, departments, PIs, physical locations, F&A rates, or purposes such as capitalizable & non-capitalizable.

Project Budget: An estimate of planned expenses.

Revenue Method: Revenue attributes associated with one or more contract lines on a contract and used to generate revenue entries for the contract.

Revenue Recognition: The process that creates revenue entries for a contract.

Sponsor: A sponsor is an organization that provides funding for a sponsored research agreement.

Task: The lowest level of a project used to organize project work into smaller, more easily manageable/reportable, units of work such as subawards and participant support.

 

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This scenario applies in the following circumstances:

• The Project Burden Schedule (F&A Base and Rate) was set up incorrectly and needs to be corrected.
• A new effective-dated F&A Rate needs to be added to an existing Project Burden Schedule.
• F&A expenses created for prior expense transactions need to be re-assessed according to an updated Base and/or Rate.

 

1. Login using Company Single Sign-On to access your Oracle account.

2. Navigate to Grants Management.
3. Select Awards.

4. Select the Taskbar.
5. Select Manage Awards.

6. Enter the Award or Project Number in the Search box.
7. Select the Award Name hyperlink from the Search Results.

8. Select Edit.

9. Navigate to Projects at the top of the page.
10. Highlight the Project.
11. Select the chevron to see the project details.
12. Navigate to the Financial tab.
13. Select the Award Project Burden Schedule icon.

Follow these steps to correct only the Multiplier (Rate Percent) from the start date of the project. Otherwise skip to step 19.

14. Update the Multiplier field if needed.
15. Select Build Burden Schedule.

16. On the Warning message pop up select Yes.

17. Select OK.

18. Select Save and Close.

Follow these steps to change the Base, or to add a new Multiplier (Rate Percent) effective as of a certain date:

19. Expand the Burden Schedule Versions chevron.
20. Select the Plus icon to add a new Version (you can only change the Base when adding a new version). Highlight the row for the previous version. In To Date, enter the date the previous Base/Rate combination ended (not pictured in this screenshot).
21. Enter the Version Number, From Date (the day after the To Date for the previous version), and select the Burden Structure (Base).

22. Expand the Burden Multipliers triangle.
23. Select the Plus icon.
24. Select the Organization (University of Chicago), Burden Cost Code (Indirect Expense), and enter the Multiplier (rate percent, e.g., for 70%, enter 0.7)
25. Select Build Burden Schedule.

26. On the Warning message pop up select Yes.

27. Select OK.

28. Select Save and Close.

29. On the Award page, select Save and Close from the Save dropdown.

Mark Direct Cost Transactions for recalculation of F&A.

30. Navigate to Projects.
31. Select Costs.

32. Select the Taskbar.
33. Select Manage Project Costs.

34. Select the chevron to expand the Search section.
35. Select the Advanced button.

36. Enter the Project Number.
37. In Expenditure Type, change the selection to Does not equal and select 76705-IND: F&A Sponsored Projects from the dropdown.

38. Scroll down and select Search.
39. Highlight the row(s) in the Search Results for the direct cost transactions that need to have F&A expenses recalculated.

40. Select the Actions menu.
41. Select Costing.
42. Select Recalculate Burdened Cost Amount.

43. On the warning pop up select Yes.

Repeat steps 39-43 for all direct costs that need to be re-assessed.

44. Select Done.

Generate Burden (F&A)

45. Navigate to Project.
46. Select Costs.

47. Select the Taskbar.
48. Select Generate Burden Costs.

49. Enter the following criteria:
    • Business Unit: [the Business Unit of the direct cost transaction(s)]
      • Note: The Burden Cost process selects direct cost transactions to burden based on the Business Unit where the transactions originated - most frequently University General - not the Business Unit of the Project. You may need to run Burdening more than once if the direct costs originate in more than one BU. The Expenditure Business Units available as a column on the Manage Project Costs page.
    • From Project Number: [your project]
    • To Project Number: [your project]
    • Expenditure Item Through Date: Today's Date
    • Transaction Status: All
50. Select Submit.

51. If desired, return to the Manage Project Costs screen to review the additional F&A rows created after the process is completed.

 

You have now completed the process to Update or correct F&A (Burden Schedule) setup and recalculate indirect costs.