Jan 13, 2014
Identifying Available Research Balances
As a service to researchers and research administrative personnel, Financial Services Division has improved how funding provided to other institutions affects the reporting of available balances in research funds. Starting in December 2013, funding that was advanced to other institutions appears as Grants (account 70606) in the outstanding commitments column on the operating and research statements in FAST. This amount is equal to the Advances Receivable (account 11006) on the balance sheet. When reporting from the other institution is received, the Grants commitment and the Advances Receivable accounts will be reduced and the amount reported will be recorded as Grants expense. On the monthly reports delivered to researchers, the Advances to Other Institutions column has been removed, and the outstanding advance amount will now appear in the Commitments column. These changes should help you more easily identify the available fund balance in both the reports and in FAST.
If you have any questions about these changes or if you experience any difficulties reviewing the information in the reports or in FAST, please contact UniFi Support at 966-8783 or firstname.lastname@example.org