The administrative process to charge the overhead assessment to each “B” unit takes place once per year. The annual recovery assessment is then calculated using the steps below.
Step 1. Determine the amount of contract and grant facilities and administrative costs (F&A) that were recovered by each “B” Unit during the previous fiscal year.
Step 2. Determine how much of the F&A recovery in Step 1 was retained by the “B” Unit (UGA portion separated from UGARF portion).
Step 3. Determine how much of the “B” Unit’s F&A rate is comprised of factors to recover costs associated with general administration (GA), sponsored projects administration (SPA) and operating and maintaining Resident Instruction facilities where applicable, costs that are borne by UGA’s Resident Instruction general budget.
Step 4. Multiply the amount in Step 2 by the percentage in Step 3 to determine how much of the previous fiscal years F&A recovery should have been retained by UGA’s Resident Instruction general budget.
Step 5. The amount calculated in Step 4 will be the amount that each “B” Unit will be assessed in the current fiscal year.
The calculations and amounts are reviewed for reasonableness. Each unit is notified of its annual assessment and provided time to review for reasonableness. The assessment is facilitated via a journal voucher process.
Responsible University Senior Administrator: Vice President for Finance & Administration
Responsible University Administrator: Associate Vice President for University Business and Accounting Services
Policy Owner: Accounting
Policy Contact: Chad Cleveland
Policy Contact Phone Number: 706-542-1197
Citation or Reference: Accounting Records
This series includes bank statements, purchase requests, purchase orders, requisitions, financial reports, accounts payable and receivable records, write-off records, discrepancy, payment schedules, operating statements, year-end projections, reconciliation and expenditure reports, cancelled checks, check stubs, moving expenses records, cost accounting reports, refund/disbursement request records, returned checks, deposit slips, travel records, credit voucher requisition records, cash balances and reconciliations, sales and cash reconciliation records, journal entries, outstanding obligations, refund/disbursement requests, receipts, and invoices
Retention: Monthly and quarterly reports: 1 year; All other records: 5 years.