Sponsored Project Administration - SPA
Cost Policy on Sponsored Agreements - New July 1, 2012
10-08-12 - PeopleSoft Accounts and F-Levels link updated (scroll down toward bottom)
Please find below some helpful information about UVM's new Cost Policy for Sponsored Projects, which went into effect on July 1, 2012. As many of you already know from earlier training sessions, the policy provides guidance for properly allocating expenses to all sponsored projects, including federal formula fund awards.
Among other things, the new Cost Policy addresses the concept of charging expenses in a consistent manner as either a direct or indirect cost.
Costs that are typically considered indirect may only be directly charged to federally funded sponsored projects (or as cost share on those projects) in “unlike circumstances.”
If an unlike circumstance exists, it is perfectly allowable to directly charge these typically indirect costs and therefore we have form to evaluate and document the process.
The form is entitled the Direct Cost Justification Form and should be completed and approved prior to proposal submission, if there is a known unlike circumstance identified at that time, or after the award is accepted and set up.
The Direct Cost Justification Form is required before any of the following costs, shown along with their respective F level budgetary account, may be directly charged to a federal project:
|Cost Category||F Level Budget Account|
|Adminstrative & Clerical Salaries||Under existing F5000|
|General Supplies & Services||F6002|
|Computer Supplies & Services||F6020|
|Memberships & Subscriptions||F6006|
|Telephone and Telecom||F6320|
UVM Sponsored Project Direct Cost Justification Form
UVM Sponsored Project Direct Cost Justification Form - also available in Forms Library
A list of Administrative titles is available here.
Please find below the link to the process flow documents that can help you figure out when the form is needed and how it will work.
To aid in the implementation and management of the Cost Policy, we have made several positive changes in PeopleSoft. Based on feedback from end users across campus, we created the following new expense accounts to facilitate coding of expenses:
|Account||Account Description||F Level Budget Account|
|60506||Domestic Travel - Internet Svc||F6050|
|60526||Foreign Travel - Internat Svc||F6052|
|63508||Rental - External Facilities - short term||F6000|
|80214||Participant Related IC||F6101|
|61265||Advertising for Subjects / Participatns||F6000|
We created a number of additional F level budget accounts and moved expense accounts from existing F level budget accounts to these new F level budget accounts to assist with the roll out of the new policy.
find below a comprehensive spreadsheet which identifies all expense accounts
with their associated budgetary account prior to July 1, 2012 and on and after July
PeopleSoft Accounts and F Levels link - updated 10-08-12
We also made changes financial reports in PeopleSoft.
Please find below a document that contains that some information clarifying the changes.
For more helpful information about the cost policy, please go to UVM"s Cost Accounting Services website that has FAQs and examples.
Last modified October 09 2012 01:32 PM