Sponsored Project Award Allocations: Overview

If you manage funds for sponsored projects, read this page for information and guidelines on awardallocations.

Sponsored project award allocations

When a funding agency grants a sponsored project award,the amount must be recorded in the operating ledger. This is done by creating an allocation for theamount the University is authorized to spend.

Budget journals

You create an allocation witha budget journal. The journal includes:

• A debit to a revenue account, which is used by the University to track the maximum amount to bill and collect
• Credits to expenditure accounts, which are used by departments to track the amounts that the awarding agency has given them to spend

Note: Only External Relations can allocate gift awards.

Both direct and indirect costs need to be allocated. Usually, the award budget specifies the direct and indirect amounts. If it doesn't, see an example of how to determine direct and indirect costs.

Sub-awards

Intercampus sub-awards are sponsored project awards involving more than one campus. The procedures for allocating intercampus sub-awards vary slightly from normal allocation procedures.

Special cases

Some situations require additional allocation instructions. Find out how to allocate in the following situations:

• Allocating to sub-funds
• Allocating to sub-accounts
• Allocating incremental funding
• Allocating per payment received

Rebudgeting

Find out how to change an existing allocation when youreceive agency approval to rebudget or when you need to rebudget between indexes.

Finance

Managing Awards

• Sponsored Project Funds
• Sponsored Project Award Allocations
  • How to Prepare
  • Calculating Direct and Indirect Costs
  • Allocating an Intercampus Sub-award
  • Special Cases
  • Rebudgeting
• Index/ Fund for Sponsored Projects