Overview

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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)

Critical Concepts

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Related Materials:

PPM reports that support faculty portfolios
Visit Blink to learn about financial data locations, access, analysis and reporting

Steps to Take

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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
  
  • Project Balances with Expenditure Details Dashboard