The best way to navigate to the Expense Breakdown page is by drilling on the Project field from the PI Summary page. This field allows for drilling into two pages: Expense Breakdown and Grants Budget Detail. The Expense Breakdown page shows a single grant a time, which is why it is helpful to drill from the PI Summary page. The page consists of a number of three different sections, all described below:
This report (in the top left of the screen) shows basic demographics and attributes of a grant. This includes the Sponsor, Project Start and (Budget) End Dates, Award #, PI and more. There is also a drill report on Project Team. Clicking on this report will display all of the Project Team members and their role on the grant as defined in the Authorization Letter. If this information has not been updated since the authorization letter was received, then it may show employees who are no longer associated with the grant.
Project Financial Summary
This report (in the top right of the screen) is intended to provide a quick snapshot and summary of the financial information related to the grant. This shows inception to date amounts for Payments Received, Total Projected Indirect Cost, Total Indirect Cost, Total Direct Cost, The calculations for this financial information is below.:
|Payments Received||This field is derived from the sum of a number of fields. The fields included in this calculation are:|
|Total Projected Indirect Cost||This is a special calculation which is specific to every grant. For each grant, their is a set of expense accounts which are subject to an overhead charge. For any Encumbrance or Pending transactions associated to those accounts, this calculation factors the Overhead Rate against those amounts. This helps to determine what the overhead charges are going to be once the encumbrances and pending amounts post as actual expense. Please note that this calculation is not an amount that exists on the ledger. It is an amount that is calculated for reporting purposes only.|
|Total Direct Cost||This field is a calculation showing all Actual Expenses in accounts other than '76450 - Overhead Applied'. These are all actual expenses in accounts other than overhead. Note that these are actual expenses, meaning that they do not included an encumbrances or pending amounts.|
|Total Indirect Cost||This field is a calculation showing all Actual Expenses only in account '76450 - Overhead Applied'. This stored all of the overhead charges which has been applied to the grant expenses since inception.|
Project Financials by Account
This report (table at the bottom of the page) shows all financial transactions for a grant, by account. All amounts are inception to date. The ITD Revised Budget, Expenses (Actual), Encumbrance and Pending amounts are all drill-able. Clicking on any of these fields will drill to additional reports which contained more detailed information. In all cases, the drills will eventually return detailed transaction information at the journal line level.
This report also groups the account by category; PS, OTPS and Indirect. Note that the Projected Indirect Cost calculation only rolls into account '76450 - Overhead Applied'. The reason for this is because when the encumbrance and pending amounts post as actual expenses, the over charge will be applied against indirect account 76450.
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 in September and ends in August- 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.