Overview
This article demonstrates how Fund Managers can assist faculty with viewing details on Oracle Projects, including Awards, through various screens in Oracle Financials Cloud (OFC).
Essential Information
Next Steps
How to Check Award Balances/Expenses
1. From the OFC Home page, navigate to the following pages, to review Budgets, Costs and Balances for sponsored Projects/Awards in Oracle PPM:
- Projects and Awards > Awards > Manage Awards: view Budgets, Inception to Date Actual Expenses, Total Commitments, and Balances
- Projects and Awards > Costs > Manage Project Costs: view details of the actual costs on Projects and Awards
- Projects and Awards > Costs > Manage Committed Costs: view all Committed Costs
2. Understanding Overview and Manage Awards page
- Inception Date: Period type that shows Budget, Commitment, Expenses and Balance from beginning of the Award to date.
- Commitment Amount: Refers to the Commitment type (formerly encumbrance/lien) generated from approved requisitions:
- Commitments are also displayed from Kuali Research Subaward Module and Concur.
- Commitments are generated from Procurement will display the Commitment and estimated IDC/burden in the raw cost field.
- Commitments from Concur will display estimated IDC/burden in the burdened cost field.
- Commitments showing from Payables reflect Invoices that have been approved for payment, but not yet issued.
- Budget Amount: Funding (estimate of income and Expenditure) allocated to a Resource/Budget category under a Task on a Project.
- Actual Amount: Total Costs incurred
- Legacy converted summary costs are now available in Oracle.
- Adding the Actual Amounts likely decreased Available Amounts.
- Available Amount: Budget-Actuals-Commitments.
- Funding Amount: Amount Obligated from sponsor, for cost sharing, this is the Committed amount.
- Use the following report to review Project and Task Budgets: