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PI Ledger Review

PI Ledger Review

The PI Ledger Review (325) report in FIS Decision Support has been retired. 

The UCD Faculty and Department Portfolio Report in the Aggie Enterprise Financial Reporting Center provides Principal Investigators with financial information that allows efficient and timely review of expenditures posted to sponsored projects.

Considerations for Expenditure Review

Only costs which directly benefit a project may be charged to a project and must be in accordance with the terms and conditions of the award. The following are a few suggestions to consider when reviewing the report for allowability and allocability of expenses charged to your accounts.

Salary and Benefits

  • Did the individuals listed on the report work on the project in proportion to the percentage of their salary charged?
    • Are all salary charges allocable to the project?
  • Are there any individuals who worked on the project and should have been charged but do not appear on the account?
  • Do any changes in staff assignments need to be communicated to your administrator so payroll charges will accurately reflect effort expended in support of the project in future periods?

Supplies and Expense

  • Are all expenses on the account allocable and allowable to the project?
  • Are there any additional expenses that should have been charged but do not appear on the account?
  • If expenses were allocated to multiple projects, was the allocation to each project based on proportional benefit?

Equipment

  • Is the equipment expense allowable according to the terms of the agreement?
  • Were the necessary prior approvals obtained, if applicable?
  • If the equipment was charged to multiple projects was the allocation methodology appropriately documented to support the charge to each account?
  • Was the cost allocated to each project based on proportional benefit?

Travel

  • Is travel allowable according to the terms of the agreement?
  • Did the travel directly benefit the project?
  • Were the necessary prior approvals obtained, if applicable?

Subcontracts

  • Are reimbursements to subcontractors in alignment with actual work performed in support of the project?

Other Considerations While Reviewing the Report


Effort commitments

  • Are the payroll charges listed an accurate reflection of effort commitments made to the sponsor?
  • Are the individuals paid on the project on track to meet their effort commitments to the sponsor?

Budget

  • Does the amount spent so far appear reasonable in light of your knowledge of how the project is progressing?
  • Are there any budget categories in overdraft that require re-budgeting actions, including approvals, if applicable?
  • If the award is ending within the next ninety days and the project will not be completed within that timeframe, has a no-cost extension been initiated?

Completing the Review

  • If any changes, errors, or omissions are discovered during the review, they need to be communicated to the account manager promptly so corrections can be made within 120 days in accordance with UC Policy. Email functionality has been provided in the report via the Send Email button, for your convenience in communicating with the account manager.
  • When the review is complete and all communications have been made, acknowledge the review by clicking the Acknowledge Review of Account Expenditures button at the end of the report.