Review of First-Quarter Funding Commitments -- Response Needed by Monday November 28, 2022

Fiscal Year 2023: Review of First-Quarter Funding Commitments - Response Needed by Monday, November 28, 2022
 
Dear Finance Partners,

We are preparing to fund FY23 first-quarter commitments.  The majority of our transfers for funding commitments from the H&S Dean’s Office typically take place in November.  We ask for your assistance to review the first-quarter funding commitments before we complete the related transfers later this month.  Your help in ensuring the H&S Dean’s Office accurately meets these financial obligations in a timely fashion is greatly appreciated!

Your FY23 first-quarter commitment reports are now available for review via HandSOn by running the reports per the HandSOn Commitment Reporting Job Aid located on the H&S Finance Website.  Alternatively, we have loaded copies of the reports into the Repository (in the Non-Salary folder under Funding Commitments) for your convenience.

Please review all commitments for your area and let us know if there are any problems or required changes.  Questions about the commitment report should be directed to your Finance Liaison.

To meet the deadline for uploading November transfers to Oracle, we need your feedback on these reports by the end of the day, Monday, November 28.

If a commitment is missing, please provide documentation (such as a letter or e-mail from a dean, chair, or director) so that we can add the commitment to HandSOn.  If there is an error on an existing commitment, please refer to the commitment number when you call or write with questions so we can quickly find the entry.

The following tables describe the Transfer Status and Hold Reason fields for your information as you review the commitments.

We look forward to hearing from you by November 28, and hope that your holiday season is off to a great start!

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Transfer Status

There are five values for transfer status. Each line of a commitment must have a status indicated before it can be submitted. Lines with a status of “Void” are not included in any reports except the data download.

Note: If Transfer Status of Hold is selected, a Hold Reason is required.

Transfer Status

Used For:

Ready
  • Current year rows that are ready for transfer
  • All “Ready” commitments will be included in the next upload

Hold
  • Current year rows that aren’t ready for transfer
  • Future year rows
  • Any commitment row with a “Hold” status must also have a “Hold Reason” (see next table)

Sent
  • Commitments that have been sent to Oracle (either for upload or manual entry)

Done
  • Commitments that have been successfully transferred in Oracle
  • Finance will add the iJournal number or other identifier plus iBudget number (if made – iBudgets are generally made only for operating budget account transfers)

 

Hold Reasons

Hold Reason

Comments

Contingency

Contingency is used when the agreement states a specific contingency. The most common are emoluments contingent on purchasing a home, top-ups contingent on obtaining grant funding, or when department confirmation is requested.

Revenue Due

Revenue Due is the hold reason for all commitments from outside H&S. Once notification is received from the external entity that funding has been transferred, Finance will change the Transfer Status to “Done”.

YE Close

Year End Close is normally used for all commitments in the subcategory “Summer 9ths” or any other subcategories where actual expenses are being reimbursed rather than a set dollar amount transferred.  For example, research assistants are frequently handled in this way. Finance will work with departments and programs to complete these commitments by fiscal year end.

Next Year

Used to indicate that the line item commitment for the current year has been moved to a future year (usually for deferred summer ninths at year-end close) or is used for commitment lines that require review for the current year.

Best,

Blake Grenier

Associate Director of Finance

The School of Humanities and Sciences