Specific circumstances stemming from the COVID-19 Coronavirus necessitate a mechanism for UMBC to track Unrestricted Expenses. These are expenses that would normally NOT be incurred except for this COVID situation.
Guidance below applies to Unrestricted expenses, the Restricted Expenses need to remain on the existing Sponsored Award. Please see Federal Sponsor Expense Guidance on OCGA’s Website here.
Decentralized Tracking of Unrestricted Expenses:
- Anticipating that Dean’s Offices or Business Centers may need a mechanism to track Expenses, please submit a Project Request Form to request a Project ID.
- Projects will be setup as Fund 1113 or Fund 1112 to accommodate existing PeopleSoft Fund closing rules.
- Project Request Form should include the Funding Source that will cover these expenses
- Questions on the creation of Project(s), please contact Rebecca Struckmeier (email@example.com)
- Periodically, transactions will be reviewed for appropriateness, so please use discretion when allowing this project to be used.
- Each Project will be created with the Project Type = “COVID”.
Usage by Campus
- For charges already incurred, after the transaction has posted to the REX Finance report, please transfer the expense to the new Project created for your area.
- For New, Approved Purchases related to COVID-19, please charge them to the department’s new Project Chartstring.
- In most cases, instead of tracking Payroll on COVID Projects, Overtime will be captured and potentially moved to the designated COVID Project.
Review by Financial Services
At the end of FY20, the each COVID Project that is being used for tracking will be reviewed:
A) If expense is Appropriate, the ‘expense’ will remain on the COVID Project, and be tracked from this project.
B) If expense is NOT Appropriate, the ‘expense’ will be returned to the originating department operating chartstring or chartstring listed as ‘source of funds’ on the Project Request Form.
In both A & B, Project deficits will ultimately be covered by the campus department. (<=Re-read the bold sentence.) With this in mind, the definition of “Appropriate” may be applied differently for varying functional areas across campus. The ultimate purpose of the COVID project is to track expenses incurred in this situation. Example Journals.
Balances not addressed in FY20 will automatically carry forward to FY21 and will be addressed in that Fiscal Year.
Example of Acceptable items:
- Costs specifically incurred for the use of distance learning.
- COVID-19 gear for working with potentially infected patients, or cleaning supplies.
- Cancellation fees incurred. These fees should not include the airfare credited to the traveler.
Costs and expenses that would normally NOT be incurred except for this COVID situation.
Questions to determine Acceptable Items:
If it wasn’t for this COVID situation, would I have purchased this item?
Was appropriate approval obtained by the Campus Department or Procurement?
Are proof of payment and documentation legible and available?
REX Reports to Track Expenses
- “Budget to Actual Report”
- “Self Support and Aux Projects Report”
Please contact Rebecca Struckmeier (firstname.lastname@example.org)
Webpage updated 3.20.20