Financial Management of Projects
Session Summary Financial Management of Grants & Capital Projects
Audience:
Business Affairs
Training Material FSCM Projects for BA.ppt
•
Trainer/Contact:
Ana Vega / Ivan Camus
Version Date:
Version 1.0
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Session Objectives
1. Projects Overview
2. Project ChartField Requirement
3. Project Budgets and Project Expenditures
4. Ledger Groups for Projects
5. DETAIL Ledger Group
6. CHILD & PARENT Ledger Groups
7. Budget Overview Example
Objective 1 : Projects Overview
NOT being covered today:
• Create, Maintain, and Submit Proposal
• Create and Maintain Award, Budgets, and Contracts
• Create Projects, Activities, and Team Members
• Applying Transactions to Grants (Cost Collection)
• Billing Agencies/sponsor…
Objective 1 : Projects Overview
Currently MDC manages more than 500 active
Capital Projects and Grant with a combined
budget of $600M across multiple funds.
Objective 1 : Projects Overview
(GM001)
(CP001)
Campus
Solution
Assets
Objective 2 : Projects ChartField Requirements
When dealing with Projects additional ChartFields are required:
1. PC_BU or PC Bus Unit (Predefined)
•
GM001 (Grants)
•
CP001 (Capital Projects)
•
SP001 (Special Projects)
2. Project ID (User defined & unique)
IOR15001, HQ3939, DPEL67, etc.
3. Activity ID (Project ID dependent)
Normally ‘01’
Objective 2 : Projects ChartField Requirements
PC_BU, Project ID, and Activity ID are required ChartField
values for all financial transaction processed in the AP, PO,
TE, AM modules as well as transactions created in GL or
from other Pillars (HCM, Campus Solution).
Objective 3 : Project Budgets and Project Expenditures
Budget
KK module
GM for Grants
Ledger Group:
(GM001)
PC for Capital
Projects (CP001) &
Special Projects
(SP001)
Expenses
MD_PRJC
&
MD_PRJP
Ledger Group:
DETAIL
PO
AP
TE
GL
(HCM CS)
Objective 4 : Ledger Groups for Projects
Budget Overview
Commitment Control > Review Budget Activities > Budget Overview
Objective 4 : Ledger Groups for Projects
Budget Overview :
Commitment Control > Review Budget Activities > Budget Overview
Ledger Groups
Description
Suggested ChartField
MD_PRJC
Project Child Budget
Project ID
MD_PRJP
Project Parent Budget
Project ID
DETAIL
Detail Ledger Group
ICS
Objective 5 : DETAIL Ledger Group
DETAIL Ledger Group
• Does not provide budget balances
• Expenses shown by detail general ledger code
• Encumbrances and Pre-Encumbrances shown by detail
general ledger code
• Available balances – will always appear as negative
because there are no budgets
Objective 6 : CHILD & PARENT Ledger Groups
PARENT (MD_PRJP) Ledger Group
Budgets/expenses/encumbrances and pre-encumbrances shown at a POOLING level
• You will need to read the activity with the help of the pooling definitions – also
known as “tree”
• Pooling account acts as a master account that includes a group of sub-accounts,
also known as general ledger codes – therefore, as long as there is sufficient
funds for a particular pooling account, there will be sufficient funds for all detail
accounts under it. Example - no need to request budget transfers from one
travel account into another, as long as the travel pooling account has sufficient
balance.
• The available balances in each pooling account will dictate whether or not there
are sufficient funds to process a Purchase Order/Travel expense, etc. prepared
using detail general ledger codes.
• This is the ledger you will use to have a full picture of your grant activity.
Objective 6 : CHILD & PARENT Ledger Groups
CHILD (MD_PRJC) Ledger Group
• The “Child” ledger provides the grant information in the same
format as the “Parent” ledger, however, there is an important
change being implemented to ease the tracking of your grant
activity that will soon be available:
• This ledger will show the budget/expenses/encumbrances and
pre-encumbrances not a pooling level, but a more descriptive
level very close to your detail general ledger codes.
• New pooling definitions – “Tree” - will soon be available to help
you look your grant activity up in the system.
Objective 6 : CHILD & PARENT Ledger Groups
Budget Overview :
• Requisitions/Purchase Orders, etc. will continue to require the
detail ledger code and the complete charstring. Please note that
Capital Projects and Grants require the Project ID, PC BU (always
01) and Activity (always 01) as part of the ChartField string.
Without these fields your transactions will not go through.
Objective 7 : Budget Overview example
Objective 7 : Budget Overview example
Objective 7 : Budget Overview example
MD_PRJC & MD_PRJP Ledger Groups redefined
Ledger Groups:
MD_PRJC (Detail)
MD_PRJP (Summary)
Existing Projects use
8-Digit
8-Digit
New Projects will use
8-Digit
5-Digit
To be published in BA website at a future date
For more information about MDConnect
visit our website:
MDConnect.mdc.edu
For specific questions about Grants and Capital Projects:
[email protected]
[email protected]