Contains information on when budget periods begin and end for sponsored projects
funds. Records are available for up to five budget periods per fund. Indicators
are also available for the current budget period, and for the budget period
sequence (both in chronological order and in reverse chronological order).
Used in conjunction with the Balances table for "grant year" reporting for sponsored
projects funds. (A budget period is often called a "grant year," but it may
be a year, less than a year, or more than a year.) For example, "Show me the
actual month balances for this fund for the current budget period."
||Indexed Data Elements
- When selecting a particular budget period, be sure to use the data element
that meets your needs. For the earliest budget period, the value for Budget_Period_Chron_Seq
will be 1. For the latest budget period, the value for Budget_Period_Rev_Chron_Seq
will be 1. For the budget period currently in effect,the value for Current_Period_Flag
will be Y. Note that if the value for Budget_Period_Rev_Chron_Seq is 1, it
does not necessarily mean that the budget period is current--it might have
already ended, or it might not have begun yet.
- A budget period is a discrete period of time for which a fund sponsor has
committed funds that can be expended by the University for an agreed upon
purpose. This period is defined by the fund sponsor and is communicated in
the Notice of Award. The period is usually one year, but may be for any amount
of time, and is usually not the same as the University's fiscal year (that
runs from July through June). If funding is provided to the University based
on specific milestones rather than a specified period of funding, the budget
period will be the entire length of time committed to by the fund sponsor,
from the Contract_Start_Date through the Project_End_Date. (This is normally
the case for clinical trial contracts.)
- A budget period cannot overlap with other budget periods associated with
the same fund.
- The value of the Budget_Period_End_Date may change over time. BEN Financials
only retains 5 budget periods. The start date of the first (earliest) period
should always be the same as the account start date for the fund. As a project
enters periods beyond the fifth, the second is appended to the first, the
third assumes the place of the second, the fourth that of the third, the fifth
that of the fourth and the current (new) period becomes the fifth. For example,
at the end of a seven-year award, the earliest budget period would actually
encompass the first three years.
- Budget periods for non-government sponsored research may also be changed
to facilitate reporting and the management of funds given the mutual agreement
of Research Services and the school or center responsible for the fund.
- If the fund sponsor grants a no cost extension or a funded extension, the
current budget end date, account end date, and budget period end date will
be changed to reflect the extension.
- However, the budget period end date remains unchanged if the fund sponsor
grants supplemental funding for an existing budget period (that is, the sponsor
grants more money but not more time). And if the fund sponsor grants a non-competing
renewal, a new budget period is created.
- Budget period lengths may vary within one fund and amongst funds, as the
period might be based on an external reporting requirement (usually indicated
on the Notice of Award), an internal reporting requirement, or some other
requirement (such as appending to the first period, as described above). Also,
the length of a given budget period for a given fund may vary over time, as
periods are appended to the earliest budget period, as reporting needs change,
- A budget period may begin and end mid-month. For a fund with two budget
periods--the first ending mid-month, the second beginning mid-month--the beginning
month for the second period is set to the following month, to avoid double
counting balances. For example, if budget period 1 ends September 14, 1997
and budget period 2 begins September 15, 1997, the beginning month for the
second period is set to October, 1997, to avoid double counting balances for
September, 1997. Note that this means that some activity for the second budget
period will be reported as occurring during the first budget period, and that
the budget for the second budget period should be posted to its calculated
begin month, not to the month in the budget period begin date.
- The budget period begin month is set to the month following the end month
for the previous budget period, even if it makes the budget period appear
longer than it is. For example, in the unlikely event that a sponsor first
funds a project for Jan. 1, 1996 through June 30, 1996, and then renews funding
for Jan. 1, 1997 through June 30, 1997, the budget period begin month for
budget period 2 will be calculated as July, 1996. That is, the Calendar_Year_Begin
would be 1996, and the Calendar_Month_Begin would be 07. The Fiscal_Year_Begin
would be 1997, and the Fiscal_Month_Seq_Begin would be 01.
- Budget period end dates are assigned only to funds that were active on February
1, 1998 or thereafter. Any fund that was active on the General Ledger conversion
date of June 30, 1996 has special constraints in assigning budget period end
dates. This is documented on the website: http://www.umis.upenn.edu/cornerstone/reports/guide3.html#contract
in section 3.1.2, Budget Period Dates.
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