PI Sponsored Statement: Summary

The Sponsored PI Summary Report is a high-level overview by sponsored class, which includes direct and indirect cost balances, as well as totals for monthly activity and inception-to-date balances. Users should note that:

• Signs are flipped for Revenue, which means revenue received is presented as a positive number, and revenue reductions are presented as negative numbers.
• Salary Commitments are capped at the Budget End Date. Salary Commitments that extend past the Budget End Date are excluded from the report.

The Quick Reference box provides the available direct, indirect and available balance, as well as the percent of total budget and time utilized from the beginning of the grant to the current month-end.

• Direct cost balance – remaining balance that can be spent without overspending.
  Formula: available balance / (1 + F&A rate)
• Indirect cost balance – remaining balance based on the amount spent and the F&A rate
  Formula: available balance – direct cost balance
• Available balance – total remaining balance includes direct and indirect cost
  s Formula: total expense budgeted – (total spent + total committed)
• % Budget Utilized: – percentage of remaining balance for direct and indirect cost
  Formula: (total spent + total committed) / total expense budget
• % Time Utilized: – percentage of time consumed since the project begin date, represented on the report as “budget begin date.”
  Formula: (statement close date – budget begin date) / (budget end date – budget begin date)

How it’s calculated…?

The Available Balance is calculated by subtracting the Total Spent and Total Committed from the Budget.

Of the $11,697.47 Available Balance only a portion, the Direct Cost Balance is spendable, with the remainder allocated to F&A costs.

Direct Cost Balance is calculated as Available Balance: $11,697.47 / 1 + F&A rate (.62) or $7,720.66.

Indirect Balance is Available Balance less Direct Cost Balance $4,476.81.

% of Budget Utilized is 98.7%. Calculated as Total Spent and Committed/Total Budget. ($912,746 / $924,444 = 98.7%).

% of Time Utilized shows how much of the total grant period has elapsed. This metric is calculated as the number of months from project begin date to the current reporting period divided by the total months in the project.
For this example, there are 60 months in the project (July 2012 to June 2017) with 54 months elapsing between July 2012 and December 2016, which yields a time utilized metric of 54/60 = 90%.

The Header Section provides identifying information about the Sponsored Program from SAP Grant Master Data such as:

A. Revenue & Expense Type  top

• First column on the Summary report
• Description of revenue/expense type
• 
• 

B. Budget  top

• Second column on the Summary report
• The budget is based on the funded amount for the award
  • If there are multiple sponsored programs the funded amount is allocated to the sponsored programs by the department
  • The department can update the budget within the guidelines of the award
• This budget data is pulled from the Rev/Exp Summary Report in Analysis
• An amount entered in parenthesis is a reduction in revenue (for purposes of this report)
• An amount entered in parenthesis is a reduction in expense
• 
• The Budget total amount is initially entered by Sponsored Projects as “undistributed budget”, it is based on the award agreement. The department moves the “undistributed budget” to Sponsored Classes using ECC transaction GM_Budget_Create. The department may move or reallocate budget per the award agreement.

C. Current period activity  top

• Third column on the Summary report
• Revenue and expense activity for the current period
• The column heading will have the month the activity was run (e.g. December 2016).
• Details of these transactions are provided in the second section of the report Transaction Details.
• Screen shot below
  • Column heading indicates the period the activity occurred.
  • A decrease in revenue will be displayed in parenthesis
  • A decrease in expense will be displayed in parenthesis
• 

D. Total received / Total spent  top

• Fourth column on the Summary report
• Inception-to-date actual revenue and expense
• A decrease in revenue will be displayed in parenthesis.
• A decrease in expense will be displayed in parenthesis.
• 

E. Total expected / Total committed  top

• Fifth column on the Summary report
• In the below example there are no revenue commitments
• 
• Salary commitments are capped at “Budget End Date”. By capping salary commitments at the budget end date, the report only includes commitments corresponding to the current budget period. This provides more accurate budget balances. In instances where the budget period end date has passed, all payroll commitments in the system are reported.
  • The “budget end date” is located in the header of the report, in the below image salary commitments are capped at 6/30/2017
  • 
• The open commitments are based on the time the report was run (not the period end), screen shot below of page footer (1/9/2017)

F. Total received & expected / Total spent & committed  top

• Sixth column on the Summary report
• Calculated field
  • The sum of “total received” plus “total expected” (for expenditures: “total spent” plus “total committed”)
• 

G. Budget Balance  top

• Seventh column of the Summary report
• Calculated field, difference between the “budget” column and “total received and expected” (or for expenditures “budget” column and “total spent and committed”)
• The total direct cost and total indirect cost rows are intentionally left blank in the budget balance column.
  • We have found instances when the budgeted indirect cost is not based on the F&A rate or there is no budget amount for indirect cost. Please refer to the Summary Box in the top left corner of the first page for available balance information
  • In the below example there is no indirect budget amount so it must be calculated.
• 
• The actual direct cost balance is $7,220.66
• 

H. Budget Utilized top

• Eighth column of the Summary report
• Calculated field, percent of the budget value consumed.
  • It is the “total received and expected” column / the “budget” column (or for expenditures “total spent and committed” column / the “budget” column)
• 

An amount entered in parenthesis is a reduction in revenue.

This area also shows all categories of spending by Expense Category as positive numbers.