The development and implementation of the Kuali Coeus Award module will integrate with KFS will support the automatic creation of the Contract Control Account and the award budget.
The initial account (a.k.a., the Contract Control Account) will be set up by DFA’s Office of Sponsored Financial Services (SFS) - not by the unit - and established upon distribution of the agreement. Once the account is approved, the budget is entered via the Budget Adjustment e-doc and will route to the delegated fiscal officer (FO). Please note that sponsored budgets are entered as a current budget and are not a base budget adjustment.
The conversion is part of the central conversion process and requires no unit-level action. Please note, however, that...
Budget activity for sponsored budgets, cumulative through May close, will be converted and available as of July 1 or shortly thereafter.
June budget activity, which may include new budgets and/or modifications, will be loaded after we close our legacy system for fiscal year 2011 (scheduled for the last week in July 2011).
Inception-to-date (ITD) balances represent the total activity, both actual and budgeted, that has occurred since the start of a project. The ITD is most commonly used for contract and grant management and reporting, but is also used for capital projects.
Yes, the calculation for account balances for department and other non-sponsored accounts is based on opening fund balance, plus current year revenues, less current year expenditures (including encumbrances).
Yes, the calculation for “sponsored” account balances is total budget (even if it spans multiple years), less total expenditures to date, from inception of award, and including transfers and capital asset acquisitions.