Question:
Program Income: In the case of program income, should the program income be related to the sponsored project if it has to be additive or deductive to the award?
Answer:
YES – costs expended need to adhere to the same guidelines as the main award.
Question:
What are unobligated balances?
Answer:
Unspent funds remaining at the end of the project/award period. Not to be confused with unliquidated balances – which represent committed costs that have yet to clear/materialize.
Question:
In the ‘allowability’ exercise that we did in class, questions can we treat the cell phone expense as an indirect cost & charge it to the grant?
Answer:
In most cases, the cell phone would be deemed unallowable on a grant/contract(see 1d. http://www.finance.upenn.edu/vpfinance/fpm/2300/2329.asp ) and need to be moved off the grant or it would be written off to department. Please note – there are always exceptions.
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