06/07/2007
Project/Grant Budget Status Report
The Project/Grant Budget Status Report (PBSR) has been redesigned to include summarized financial estimate data. The updated PBSR is available to run from FinODS and is included, where applicable, in this Reports Package. Project/Grants established in M-Pathways or those budgeted by Fiscal Year receive this version of the PBSR. The picture below shows a partial view of the updated PBSR. See the reverse for an explanation of the changes.
New Column
The Pay/Ben/FA Estimates column displays the Payroll, Benefits (including Benefit Recharge Distribution), Financial Aid, and Indirect Cost estimates by budget Account value and budget Category. The estimates are included in the calculation for the Projected Balance column. PBSR data is “as of” the Monthly Rpt Date, except for the data shown in the Pay/Ben/FA Estimates column.
· The Payroll and Benefit estimates calculation begins with the Accounting Period following the Monthly Rpt Period and goes through the next Fiscal Year (e.g., 01-JAN-07 through 30-JUN-08).
o The Benefit Recharge Distribution (BRD) estimate calculation is the sum of the estimated amounts for the expense Account values that are subject to the recharge multiplied by the current recharge rate.
· The Financial Aid estimate calculation begins with the Accounting Period following the Monthly Rpt Period and goes through the current Financial Aid year (e.g., through Academic Year 2007).
· The Indirect Cost estimate calculation is a percentage of the appropriate estimated expenses as represented by the IC Basis and IC Rate for the Project/Grant.
The Thru [date] field under the column heading displays the end date for the P/G budget period.
· If the end date for the P/G budget period occurs before the end date for the estimate data, the P/G Budget Period end date is used as the cut-off date for the estimate (e.g., 09/30/07)
· If the end date for the P/G budget period occurs after the end date for the estimate data, the estimate end date is used as the cut-off date for the estimate (e.g., 06/30/08).
Other PBSR Changes
· Adjusted Balance column renamed Projected Balance to reflect that the amount includes the projected estimate and Unit Defined Commitment data.
· The As of Date field and the Req/PO Encum column have been removed.
Resources
· For additional information about the Pay/Ben/FA Estimates, see the Estimate Descriptions and Data Warehouse Changes presentation available on the MAIS Web site at: http://www.mais.umich.edu/fin/rtf_overview.html.
· For additional information about Unit Defined Commitments, see the Unit Defined Commitments page on the MAIS Web site at http://www.mais.umich.edu/fin/commitments.html.
· For a complete description of the PBSR, see the Project/Grant Budget Status Report (PBSR) Field Description document in MAIS LINC ((https://maislinc.umich.edu). Use a keyword search of “PBSR” to locate the document in MAIS LINC or navigate from the MAIS LINC Catalog using the following path: Financials > General Ledger > Financial Reporting.
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