The PI Summary page is intended to help users manage their grant budgets. This page was tailored for Principal Investigators, but it also helpful for anyone managing grants, including department chairs, departments administrators and fiscal officers. The page by default provides summary level financial information information for grants and has a number of drills enable to access more detailed, granular data if needed
This page runs automatically once it is accessed from the dashboard drop-down menu (from the home screen). The page defaults to showing only Active projects (this is a status that SPA maintains for a grant). The guiding design idea for this functionality is that a PI can simply access the page and see the financial information relevant to their active grants. Once this page runs, a number of reports are returned which are mentioned below.
Please note that this dashboard page does not reflect salaries encumbered beyond the current fiscal year. This is a consideration when looking at Committed dollars and Remaining Balance.
How much money is left on my projects?
This report has one record for every grant. All the amounts are inception-to-date and can be drilled on to access more detail. The table below details the drill reports that are included from the reports.
|Project||The project field shows the description/name of the grant. This field is hyper-linked and when it is clicked on, it will drill into one of three options: Expense Breakdown dashboard page or Grants Budget Detail dashboard page or Everyone Paid from this Grant report. These dashboard pages show more detail about the grant that is clicked on.|
|Cost Share||The Cost Share field displays a Y or an N, depending on if there is cost share for the grant. If there is cost share, then the Y is drillable to see more detail. After drilling on this field, the cost share report shows the Cost Share obligation as originally indicated in the proposal. This does not necessarily mean that those dollars have been spent out of the original chartfield listed with the obligation. That being said, there is a drill provisioned in the report to see any actual expenses that have occurred for the chartfield and/or entire Program that is listed with the obligation amount.|
|Total Anticipated Budget||This drill report shows the expected budget to be received by Grant Year. These are dates and amounts indicated in the grant's authorization letter.|
|ITD Authorized Budget||These are dollars that have been received and can be spent against. This is the inception to date revised budget for the grant. After drilling on this report, another report will display showing all inception to date budgets by account for PS, OTPS and Indirect Cost. Those drills will return another report that shows all detailed budget transaction, inception to date, for the grant.|
This is a calculated amount which is the sum of Actual Expenses, Encumbrances, Pending amounts and Total Projected Indirect Cost. Pending are amounts that have been budget checked but have not yet posted to the general ledger as actual expenses. Total Projected Indirect Cost is a calculation as well. This field takes all of the current Encumbrance ,Pending and Exception amounts which are subject to an F&A charge and factors those amounts by the Project's Overhead Rate. As mentioned earlier, this dashboard page does not reflect salaries encumbered beyond the current fiscal year. This is a consideration when looking at Committed dollars and Remaining Balance.
Drilling on any of these fields, such as *Expense, *Encumbrance, etc. will show all amounts at the account level (still inception to date). The accounts are grouped into PS, OTPS and Indirect Cost. From that point, the amounts can be further drilled on to get to the journal line detail for all of the individual transactions that are associated with the Grant.
*Drilling on any PS account line for expenses or encumbrances will show the inception to date Salary Expense information for that account
|Exceptions||These are grants that have budget exceptions (failed transactions because there is not enough budget). The budget exception amount field is hyperlinked and, when clicked on, can be drilled to the Budget Exception Report. Budget Exceptions factor into the Remaining Balance, % of Budget Remaining and Low Budget Indicator fields on the report.|
Other Funds Sources
This is an optional report that can be run selecting the Other Fund Sources option in the dashboard prompts. This report shows Funds 20, 21 and 22 which allow PIs to see their Startup and Gifts. Please note that this is driven by chartfield security. Clicking on the Project field drills into a Fund Balance report where users can see Opening Fund Balance, Revenue and Expense for their funds.
This dashboard contains logic to help identify any grants that need extra attention. One way to do this is to identify grants that are low in budget, which is done with the Low Budget indicator in the first report. Other types of projects that are being flagged are located in this section. The three types of projects being flagged and the associated logic is below.
1) Projects in Risk: These are grants which are listed as 'Advance Account'. In other words, these are grants which have been authorized by the University to start spending money although the funding from the sponsor may have not yet been received.
2) Underspending Projects: This is a calculation to help determine if a grant is Underspending. This is defined as a grant that has 30% or more of its budget remaining with less than 6 momths left on the grant.
Projects Coming to an End
The report in the bottom middle is also used to denote projects which are coming to an end. Please note that similarly to the underspending calculation, this field is calculated off of a different Project End Date that SPA maintains. All projects that have 6 months remaining (180 days) or less should display in the report.
When Are My Reports Due
This report shows different report types that are due to Sponsors. It shows when the reports are due and how many days remaining until the due date. Users have the ability to toggle and see how far out these reports are due and reports that have been mailed within the past 30 days.
Actual Expenses: Expenses that have occurred and were deducted from the grant balance.
Encumbrances: Future anticipated expenses such as current fiscal year salaries or purchase orders that were deducted from grant balance but did not occur yet.
Future Fiscal Year Salaries: Future salaries to be paid after current Fiscal Year - at NYU fiscal year starts on September 1st and ends on August 31st - Future Fiscal Year Salaries are NOT deducted from grant balance in this dashboard.
Pending: Encumbrances or Actual Expenses which have not yet posted to the financial system. Typically, Pending items post within 1 day. For simplicity, Pending amounts are subtracted from grant balance in this dashboard.
Total Anticipated Budget: this amount is the total award amount from the sponsoring agency, which may include money not yet received for future grant years. For example: a three year award of 3 million, in the first grant year where only 1 million was received, will list 3 million as the Anticipated Budget.
Total Projected Indirect Cost: Indirect cost that will be applied on encumbrances once these become Actual Expenses if they are subject to overhead charges. Projected indirect cost is subtracted from the grant balance on this dashboard. This cost helps to project additional overhead charges.