Inactive Project/Grants (P/G’s) will generate a report if there is a balance left in the account. This balance can be smaller than $1.00. When preparing the journal entry to clear out the account for inactivation, refer to the FMS nQuery balance as opposed to your monthly reporting balance as these reports are rounded to the nearest dollar.
All grant monies received must be forwarded to Research Finance, Okanagan campus along with chartfield information and backup as applicable.
Departments are requested not to deposit research related cheques as per UBC Policy #119.
Please use extra care in assigning Account code, Speedchart, Fund code, Dept ID and P/G# since a deposit coded to a wrong account or P/G will cause many problems.
Two general guidelines should be followed:
Only monies that are identified as part of the funding agreement (e.g. 1st quarter payment of a 12–month sponsor contract) should be coded to the 400000 series of revenue accounts.
Incidental revenues and cost recoveries (e.g. staff reimbursement for personal use of photocopiers) must not be coded to the 400000 series of revenue accounts but instead to the relevant expense codes or cost recovery codes (e.g. a/c #659000 –Cost Recovery Miscellaneous). In these situations, please provide the appropriate backup with the cheque for deposit. Documentation consists of:
copy of ledger statement identifying expense item being reimbursed
copy of invoice or purchase order or sponsor letter
All donations are forwarded to UBC Okanagan campus Development Office for processing because tax receipts need to be issued. The department first completes a Donation Remittance form for each P/G. Following, a photocopy of the cheque and the Donation Remittance form are forwarded to ORS/University Industry Liaison Office (UILO) in order to have a budget increase processed on the account.
You can contact ORS to determine whether a Research account (R fund) and budget has been set-up. Expenditures cannot be incurred in a project until an account has been set up with a budget. It is the researcher’s responsibility to ensure complete documentation is submitted during the application process in order for the project/grant to be created on a timely basis (i.e. human ethics,animal approval, biohazard certificates, etc).
If the account is a research project/grant, these accounts will automatically be assigned a Speedchart to be used. To find out the Speedchart associated with the P/G account, go to FMS nQuery, select ‘Chartfields, SpeedCharts’ and then key in the P/G number. This Speedchart will also be noted on the Research Project Budget (RPB) email received from ORS or UILO.
Research Finance looks after the post award financial administration of project/grant accounts. If there are questions about expense eligibility, account balances, or financial statements/invoices, these can be directed to Research Finance.
If there are concerns regarding the status of research applications, status of an account set-up or budget, or any other grant agreement/contract problems, one should contact ORS (or UILO if it is a contract account).
Monthly ledger reports are available on FMS nQuery that will indicate if you are in deficit. Also, an account balance in deficit will show in red on the FMS nQuery ledger. Please note that the account balance is net of salary and purchase commitments (i.e. future known expenses).
Before a research account can be inactivated, its budget balance and cash balance must both be zero. Research Finance must resolve any cash imbalance prior to inactivation, which requires considerable effort, especially if the account activities go back several years.
Inquiries regarding expense charges should be directed to the source of the transaction (i.e. who submitted the entry). This can be determined by the three-letter source code that is referenced on each journal transaction.
When contacting Research Finance by e-mail, voicemail or fax, always quote your P/G# and provide a brief description of the issue involved. This will allow RTA staff to investigate the situation ahead of time and be able to respond to your queries in a more meaningful manner.