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Tools of the week … Overdraft reports
PIs, Department Chairs/Administrators, and Center Directors/Administrators are responsible for financial management of federal and non-federal awards. Business practices should be in place to review accounts each month to assure that project balances do not exceed authorized budget levels. Action must be taken to resolve deficits. A tool to assist in monitoring accounts for overdrafts is available on the CALS Research Division website under Award Management at Overdrafts: http://www.cals.wisc.edu/research/AwardMgt/overdrafts.html

This query tool provides a list of accounts which appear to be in overdraft. Simply enter the UDDS number for the Department/Center for which information is desired and select View Report. The information provided is for the accounting period which has closed — generally the prior month.

The tools provides the following information for accounts in Overdraft:

  • 144 and 133 account numbers
  • project title
  • PI name
  • agency/sponsor name
  • total receipts
  • total budget
  • total expenditures
  • total overdraft
  • total encumbrances
  • 88 1 status
  • end date
  • begin date
  • direct access to WISDM

In addition, some helpful information is provided as alerts:

Accounts highlighted in yellow have been in 88-1 status for over 90 days_.
Since awards should be in place (fully executed by campus) before 90 days pass, individuals with accounts in 88-1 status for more than 90 days should contact CALS Research Division to discuss actions needed (Carol Hillmer chillmer@cals.wisc.edu 5-5495).

– Accounts highlighted in red are 90 days PAST the project end date_.
Since policy requires that all awards be closed within 90 days past the project end date, individuals with accounts remaining active with deficit balances past 90 days should also contact CALS Research Division to discuss actions needed (Sandy Fowler sfowler@cals.wisc.edu 2-3947).

— Accounts which were in deficit during the previous reporting period and continue to remain in deficit during the current reporting period are emphasized by an arrow_.
Actions should be taken monthly to prevent accounts from appearing in a consecutive month’s Overdraft report. Since this is a new tool, no accounts will appear initially. When new data is loaded for August, consecutive months of overdraft will be indicated by the arrow.

Future plans for this report are to include 142 accounts and to produce a separate report for 133 (restricted non-federal) and 233 (unrestricted non-federal) accounts. The 142 accounts should appear sometime in the next month, with the 133/233 splits appearing as we transition to the new numbering sequence in 2008. We also plan to send a reminder e-mail letting you know when new data is loaded each month.

Please contact Margaret Cottam if you have questions on the tool, or if you have suggestions on how the tool might be modified to better meet your needs. Margaret can be reached at mcottam@cals.wisc.edu.

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