State Funded Cost Sharing Companion Accounts Presenter contact information below:

Transcription

1 State Funded Cost Sharing Companion Accounts Presenter contact information below: Michele Wrapp, CPA Associate Director, Research Operations Fiscal Oversight Office of Knowledge Enterprise Development Operations Lee T. Pettit, CPA, CISA Grant & Contract Officer, Pr. Research Operations Fiscal Oversight Office of Knowledge Enterprise Development Operations (Please feel free to contact us for further information!)

2 State Funded Cost Sharing Companion Accounts Presentation Objectives: Review the process to set-up State Funded Cost Sharing Companion Accounts Review an example of a State Funded Cost Sharing Companion Account Review the FAQs for State Funded Cost Sharing Companion Accounts as time permits

3 Process Map:

4 1. Collaborate to identify the need for State C/S account(s).

5 Example Facts (will be returning later to this list): 1. Identify the need. PI commits cost share to be funded from the lead unit s state appropriation 10% PI effort over the life of the project $10,000 lab personnel effort per project year over the life of the project 50% GRA effort over the life of the project $3,000 travel cost in Years 1 and 3 F&A on above contributions Three year project with October 1, 2013 start date

6 2. Coordinate administrative roles.

7 2. Coordinate administrative roles. Key Questions: How many new accounts are required? Who will be managing the accounts? More?

8 3. Submit New Account Application Form To F/S (Done by those managing existing State accounts.)

9 3. Submit New Account Application Form To F/S

10 4. Calculate appropriation transfer amount.

11 4. Calculate appropriation transfer amount. Example: PI commits the following cost share to be funded from the lead unit s state appropriation 10% PI effort over the life of the project $10,000 lab personnel effort per project year over the life of the project 50% GRA effort over the life of the project $3,000 travel cost in Years 1 and 3 F&A on above contributions Three year project with October 1, 2013 start date

12 10% PI effort over the life of the project 4. Calculate appropriation transfer amount. Need to know Institutional Base Salary (IBS) of PI PeopleSoft - $90,000 AY ERE Rates - Calculations Salary: $90,000 / 9 months in AY = $10,000 rate of pay per month 10% x $10,000 per month x 12 months = $12,000 per project year (Oct-Sept) ERE: $12,000 x 28.8% = $3,456

13 4. Calculate appropriation transfer amount. $10,000 lab personnel effort per project year over the life of the project Need to know Institutional Base Salary (IBS) of lab personnel PeopleSoft - $50,000 FY ERE Rates - Calculations Salary: $10,000 per project year ERE: $10,000 x 38.7% = $3,870

14 4. Calculate appropriation transfer amount. 50% GRA effort over the life of the project Need to know Institutional Base Salary (IBS) of GRA PeopleSoft - $18,000 AY Tuition remission amount for GRA - $6, for AY ; $897 for Summer ERE Rates - Calculations GRA effort salary$18,000 / 9 months in AY = $2,000 rate of pay per month 50% x $2,000 per month x 12 months = $12,000 for Year 1 (Oct-Sept) ERE $12,000 x 1.9% = $228 Tuition remission ($6,896 + $897) x 50% = $3,897 for Year 1

15 $3,000 travel cost in Years 1 and 3 4. Calculate appropriation transfer amount. Need to know $3,000 total? Or $3,000 each year? When will travel occur? Oct-June or July-Sept? Calculations Example assumes $3,000 for Year 1 and another $3,000 for Year 3 Total of $6,000 over the life of the project all occurring Oct-June

16 F&A on above contributions 4. Calculate appropriation transfer amount. Calculations ($9,000 + $2,592 + $7,500 + $2, $9,000 + $171 + $3,000) x 54% = $18, [October 2013 June 2014] ($3,000 + $864 + $2,500 + $ $3,000 + $57) x 54.5% = $5, [July 2014 September 2014] $18, $5, = $24, F&A Project Year 1

17 4. Calculate appropriation transfer amount. Example: PI commits the following cost share to be funded from the lead unit s state appropriation 10% PI effort over the life of the project $10,000 lab personnel effort per project year over the life of the project 50% GRA effort over the life of the project $3,000 travel cost in Years 1 and 3 F&A on above contributions Three year project with October 1, 2013 start date

18 4. Calculate appropriation transfer amount. Need to know Institutional Base Salary (IBS) of PI PeopleSoft - $90,000 AY Institutional Base Salary (IBS) of lab personnel PeopleSoft - $50,000 FY Institutional Base Salary (IBS) of GRA PeopleSoft - $18,000 AY Tuition remission amount for GRA - $6, for AY ; $ for Summer /RATA_RATES.pdf ERE Rates - /ERE_RATE_TABLE.pdf

19 4. Calculate appropriation transfer amount. Calculations PI effort salary $90,000 / 9 months in AY = $10,000 rate of pay per month 10% x $10,000 per month x 12 months = $12,000 per project year (Oct-Sept) ERE $12,000 x 28.8% = $3,456 Lab personnel effort salary $10,000 per project year ERE $10,000 x 38.7% = $3,870 GRA effort salary $18,000 / 9 months in AY = $2,000 rate of pay per month 50% x $2,000 per month x 12 months = $12,000 for Year 1 (Oct-Sept) ERE $12,000 x 1.9% = $228 Travel - $3000 Tuition remission ($6,896 + $897) x 50% = $3,897 for Year 1 (Oct-Sept) F&A (($9,000 + $2,592 + $7,500 + $2, $9,000 + $171 + $3,000) x 54%) + (($3, $2,500 + $ $3,000 + $57) x 54.5%) = $24,111.10

20 4. Calculate appropriation transfer amount. Project Year 1 Project Year 2 Project Year 3 ASU Fiscal Year 1 ASU Fiscal Year 2 ASU Fiscal Year 3 ASU Fiscal Year 4 Total Oct 2013-June 2014 July 2014-Sept 2014 Oct 2014-June 2015 July 2015-Sept 2015 Oct 2015-June 2016 July 2016-Sept 2016 Oct 2013-Sept 2016 PI effort of 10% over the life of the project Salary $ 9, $ 3, $ 9, $ 3, $ 9, $ 3, $ 36, ERE $ 2, $ $ 2, $ $ 2, $ $ 10, Netcomm $ $ $ $ $ $ $ Lab personnel effort of $10,000 per year over the life of the project Salary $ 7, $ 2, $ 7, $ 2, $ 7, $ 2, $ 30, ERE $ 2, $ $ 2, $ $ 2, $ $ 11, Netcomm $ $ $ $ $ $ $ GRA effort of 50% over the life of the project Salary $ 9, $ 3, $ 9, $ 3, $ 9, $ 3, $ 36, ERE $ $ $ $ $ $ $ Netcomm $ $ $ $ $ $ $ GRA Tuition Remission fall semester-6 of 9 pay periods & 3 of 9 pay periods $ 1, $ $ 1, $ $ 1, $ $ 5, spring semester-9 of 9 pay periods $ 1, $ - $ 1, $ - $ 1, $ - $ 5, summer term-6 of 6 pay periods $ $ $ $ $ $ $ 1, Other Costs Travel in years 1 and 3 $ 3, $ - $ - $ - $ 3, $ - $ 6, F&A $ 18, $ 5, $ 16, $ 5, $ 18, $ 5, $ 71, LEGEND Include in appropriation transfer total Include in cost share total

21 4. Calculate appropriation transfer amount.

22 4. Calculate appropriation transfer amount. ASU Fiscal Year Appropriation Transfer Total FY2014 $34, FY2015 $41, FY2016 $44, FY2017 $10, $131, $213, $131, $81, Project Year Cost Share Total Year 1: October 2013 September 2014 $72, Year 2: October 2014 September 2015 $68, Year 3: October 2015 September 2016 $72, $213,391.46

23 5. Receive notification of New Account

24 6. Record appropriation transfer.

25 7. Set-up in Coeus. Monitor. Report. Close out.

26 Process Map:

27 Questions? C/S Sitelet: (FAQ Review as time permits)

28 FAQ s ( funded cost sharing companion accounts) Where do I go online to find detailed information regarding State Funded Cost Sharing Companion Accounts? When are State Funded Cost Sharing Companion Accounts needed? Who activates State Funded Cost Sharing Companion Accounts? What if there are multiple units providing support to a project from their state funding? What if the transferred appropriation amount is not spent during the ASU fiscal year?

29 FAQ s ( funded cost sharing companion accounts) What will the agency/org be for this state funded cost sharing companion account? When will these accounts be closed? If a project ends before June 30 how will spending after the award end date be prevented? What if the cost sharing commitment is stated in terms of percentage effort or months of effort? What if the effort commitment is a summer commitment for faculty with academic year appointments? Who is responsible for administering these accounts?