| 144 |
The spending fund identifier that denotes a FEDERAL
sponsor. |
| Account number in Advance of Award,
RSP Form 88-1 |
A project that is established in the financial system
prior to receipt of an award; a provisional account. |
| Accounting
Date |
For the purposes of this policy, the accounting date
is the end of the month of the journal date as shown
in WISDM. |
| Allocable |
A cost is allocable to a project if goods or services
involved are chargeable or assignable in accordance
with the relative benefits received by the projects.
In order to be allocable a cost must be treated consistently
in like circumstances. For further information see OMB
Circular A-21. |
| Allowable |
A cost is allowable to a project if:
- The costs are reasonable;
- The costs are allocable to the specific project;
- The costs are treated consistently in like circumstances;
and
- The costs conform to any limitations of the cost
principles or the sponsored agreement.
For further information see OMB
Circular A-21. |
| Appropriate
|
If a cost meets the criteria of being allowable, allocable,
and reasonable it is appropriate. |
| Authorized Signer |
An individual who authorizes a cost transfer transaction,
usually the PI or his/her designee. |
| Award |
A funding mechanism between the Board of Regents of
the University of Wisconsin System and a sponsor whereby
the sponsor commits funding to the University for a
specific scope of work and for a specific period of
time. |
| Award Expiration Date |
The end of an award period on a project. |
| Cost Transfer |
An after-the-fact reallocation of the cost, either
salary or non-salary, to a sponsored project within
a 90-calendar day period from the accounting date of
a transaction. |
| Cost Transfer Review |
A process whereby transactions are analyzed to see
if they meet the standards of reasonableness, allowability,
and allocability, and are in accordance with Agency
and UW guidelines. |
| Direct Costs |
Costs that can be specifically and readily identified
with a particular project or activity. |
| Documentation |
Includes a complete explanation of the allocability,
allowability, and reasonableness, and any other documents
pertaining to the specific transaction, including the
WISDM report and a copy of the invoice. |
| Effort |
A percentage of time devoted to a project by a principal
investigator or other project personnel. |
| Facilities and Administrative
Cost |
Costs that are incurred by the Institution for common
or joint objectives and cannot be identified specifically
with a particular project or program. These costs also
are known as “indirect costs” or “overhead”. |
| Fiduciary
Responsibility |
Responsibility to manage funds in a manner consistent
with the furtherance of the University’s mission
and the conditions specified by external sponsors, when
applicable. |
| Journal Date |
Indicates when a transaction is posted into the general
ledger. This date is available in WISDM for each transaction. |
| Late Transfer |
A transfer requested more than 90 calendar days after
the end of the accounting month in which the transaction
journal date has posted. |
| Non-Salary Costs |
For purposes of this policy, non-salary costs are
supplies, consultants, travel, equipment, and other
non-payroll or non-stipend expenditures. |
| PAR |
A personnel activity report used to certify effort. |
| PI (Principal
Investigator) |
The individual responsible for determining that the
expenditures are necessary, allowable, allocable, reasonable,
properly approved, and adequately documented. A PI may
delegate this authority to a designee. |
| Project |
A set of activities including budget, scope of work,
period of performance and PI. An award (the legal obligation
of funds) may contain one or more projects. |
| Project/Grant Number |
The numeric/alpha identifier for the financial activity
of a project. The project/grant number is a unique seven-digit
number/letter combination and is used to record financial
activity in the general ledger. Also called “account
number.” |
| Reasonable |
Would a prudent person pay this amount for this item
or "If it were published on the front page of the
Wisconsin State Journal, would that be okay with you"?
For further information see OMB
Circular A-21. |
| Salary Costs |
For purposes of this policy, salary costs are payroll
expenses (salary and benefits) as well as stipends that
are reported as costs to the general ledger. |
| Sponsored
Project |
A project funded by an award from a grant, contract,
or cooperative agreement under which the Institution
agrees to perform a certain scope of work, according
to specified terms and conditions, for a specific budget.
|
| Stewardship |
The careful and responsible management of the Institution's
financial resources. |
| Stipend |
A payment made to an individual for participation
in training or learning experience. The payment helps
defray the individual's living expenses during the period
of training. Even though a stipend is not considered
compensation for the services of an employee, a transfer
of stipend costs uses a salary cost transfer mechanism.
|
| Transaction |
Any event that involves an exchange of funds between
two parties. Examples are paying a bill to a vendor,
collecting a fee, and processing an interdepartmental
charge. |
| UDDS |
The seven-digit code that identifies UW spending units
by University/Division/Department/Subdepartment. |
| WISDM |
Wisconsin Data Mart for Peoplesoft Financials. The
reporting tool used to provide information from the
general ledger of the University’s accounting
system. |
