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PI Ledger Review

The PI Ledger Review allows efficient and timely review of expenditures and effort posted to sponsored projects.

The PI Ledger Review (325) report in FIS Decision Support provides Principal Investigators and Co-Investigators with financial information that allows efficient and timely review of expenditures and effort posted to sponsored projects.

The Principal Investigator (PI) and Co-Investigators are responsible for reviewing this monthly report of expenditures for allowability and allocability and to identify errors and omissions for resolution in a timely manner. The PI and Co-Investigators will be required to review their accounts (Federal and Federal Flow Through fund sources) beginning with the November 2008 ledger. At this time, it is not possible for PIs/co-PIs to delegate the review to others. In the future, it may be possible when specific conditions are met.

The Review Status column of the report will initially show Review Required for any sponsored projects with Federal or Federal Flow Through funds or Review Recommended for any non-Federal sponsored projects. All other accounts will show Review not Required.

Accounts previously reviewed can be included or excluded from the list by clicking the Yes/No value in the report header labeled Reviewed Reports Included?

While viewing the charges for each account, encumbrances can be included or excluded from the data by clicking the Yes/No value in the report header labeled Encumbrances Included?

Note: In order to certify, the PI must be assigned to the account at the end of the month for which they are trying to process the review.

Example: If PI Smith is currently listed as the PI for account XYZ, but was not listed as the PI on account XYZ last month, he will not be able to certify account XYZ for last month. He will, however, be able to certify account XYZ for this month.

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 percentages listed an accurate reflection of commitments made to the sponsor?
  • Are the listed individuals on track to meet their effort commitments to the sponsor?

Budget

  • Does the % Spent to Project Completion shown on the report 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.