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Award Management

9.3 Summary of Revenue & Expenses

The account summary provides a current listing of all budgets, income/expenditures, encumbrances and balance available by account code and for the total project. The body of the account summary is divided into the following categories:

Account. The account number divides and defines cost categories by characteristic or function.

Description. The description lists titles of accounts such as Salary, Travel, Equipment, Supplies, Facilities and Administration (F&A) etc.

Budget. The budget reflects the amount awarded by the sponsoring agency, broken down by cost categories and totaled by award.

Current Month Income/Expenses. This column represents all income and expenditures for the month the report represents, broken out by accounts and totaled by project. Each individual transaction is listed separately in the Detail Transactions report.

Project to Date Income/Expenses. This column represents the total income and expenditures from the begin date of the project, broken out by account and totaled by project. Current month expenditures have been added to this figure.

Current Encumbrances. When the University employs an individual for a given period, or commits University funds through the use of a purchase order for contractually provided goods or services, a transaction is encumbered and reported under this column. A complete itemization of all purchase orders and other non-payroll encumbrances outstanding are shown in a separate report entitled Open Encumbrance Report. Payroll obligations are itemized on the semi monthly Payroll Earnings and Benefits Summary.

Balance Available. This identifies the funds, which are neither expended nor encumbered on the project. The balance available in the Total Expenditure row represents both direct and F&A costs currently available on the project.

Last Updated: 4/5/17