To all ARC users,
We wrote to you earlier this month with information regarding F&A on Sponsored Projects, as well as the Morningside Admin Fee (see below for original communication). Here are updates to this information.
For July, August and September, unapproved vouchers may have been accrued on a different department from the budgeted department associated with the sponsored project. This resulted in the accrual being expensed against a different department than the F&A (the F&A was correctly associated with the budgeted department). This means that when reviewing your July, August or September monthly department reports, i.e. ChartField Statements, you may see variances between your F&A revenue and your F&A expense. Reporting on the first quarter as a whole will be accurate, i.e. when you run a report for July, August and September together. Effective October, this issue has been resolved.
Admin Fee (for Morningside only)
For July and August, the Admin Fee was understated. This issue has been resolved. However, when reviewing your July and August monthly department reports, i.e. ChartField Statements, you may see variances between the expected Admin Fee and the actual Admin Fee. Reporting on the first quarter as a whole will be accurate.
FIN ERP Project Team