Letter of Credit Draws
- How often are draws completed for each sponsor?
Draw frequency varies based on two factors:
1) the total unbilled amount for the sponsor is above $50,000 and
2) the previous date a draw was completed for the sponsor.
Sponsors that are drawn at least once a week include DHHS, DOEd, and NSF. Sponsors that are drawn at least once every two weeks include DOE and USDA. All other sponsors are drawn at least once a month. Federal Appropriations are drawn on a quarterly basis.
- How soon are regular deposits (wire is received from sponsor and matched with invoices) completed?
Regular deposits are normally completed the day after the funds are drawn from the sponsor’s payment system. However, there are occasions when the regular deposit will be conducted in 2 to 3 business days, because some agencies take a few days to release the funds. If an invoice has been outstanding for over two weeks, please contact a senior accountant to inquire about the status.
- What is the LOC Ref ID, fund, and bill to customer # for each sponsor?
This information and other information that is commonly requested can be found in Internal Resources and Training Materials.
- What is Recon13?
Recon13 is the reconciliation that is completed to ensure the contract limit, award modification amount, and budget amount are all equal on a contract basis. The contract will appear on the Recon 13 if all three values do not equal. The report is sent out approximately every three months to campus Office of Sponsored Programs for review.
Federal Financial Reporting (FFR)
- How often are FFR’s completed?
FFR’s are completed on a quarterly basis (January, April, July, and October) for the quarters ending March 31, June 30, September 30, and December 31. The reports must be completed and submitted within 30 days after the end of the quarter.
- Why do you collect final expenditures for NSF awards?
If an award has ended during the quarter being reported, final expenditures must be reported for that award. It is important that the final expenditures reported coincide with final expenditures on the internal system. It is allowable to hold an award open for one more reporting period if there is uncertainty regarding final expenditures.
- Where can I find the congressional district, activity code, and/or zip code for ARRA reporting purposes?
This information and other helpful information can be found in the Links section of our website.
Effort Verification Reporting
- Are federal work study students required to certify effort?
No, federal work study students are required to complete a timesheet that is approved by the supervisor and documented.
- How do I determine if an agreement with a potential subrecipient can be executed or if a subrecipient can be paid?
Check the PeopleSoft Subrecipient Monitoring page first for current monitoring. If there is nothing in the system for the subrecipient or the information is not current, an email should be sent to the sponsored program administration staff that is responsible for subrecipient monitoring, to determine whether to execute an agreement or to pay a subrecipient’s invoice.
- Where can a letter and questionnaire be obtained for subrecipient purposes?
This information and other information that is commonly requested may be found in Internal Resources and Training Materials.