Grants Accounts and Internal Awards Overspent Balances and Timely Award Close Out

Sponsored awards, Internal awards and Cost Share awards are maintained in the Grants Accounting module and are not permitted to have overspent balances.  In addition, it is critical to close these accounts in a timely manner to prevent over expenditures and ensure timely financial reporting to external parties.  These accounts must be reviewed at least monthly but departments can, and are encouraged, to review balances more frequently. Accounting corrections are to be submitted within 60 days of the transaction date to correct overspent balances or move remaining balances to close by the end date.  These accounts must meet all fiscal year-end processing dates for accounting corrections.  Departments can run a query, by using the Grants Funds Available Dashboard in OBI to identify overspent accounts and end dates.   

Directions on how torun the OBI query to see overspent PTA accounts is below: 

Select the following Prompts on the Grants Funds Available Dashboard in OBI: 

• Restrict to Overspent PTAs – defaults to N, select Y to view overspent PTAs (Selecting Y provides a list of all overspent accounts) 
• Include Closed Awards – defaults to N, select Y to include closed Awards (Selecting Y includes awards that are closed to ensure the balance is correct for the award) 
• Include Closed Projects – defaults to N, select Y to include closed Projects (Selecting Y includes projects that are closed to ensure the balance is correct for the project) 
• PTA with end date before – end date is entered to view PTAs ending within a specific time period (Selecting a specific date provides a list of PTAs that have ended through that date) 

Example for Overspent Prompt: 

• Restrict to Overspent PTAs?    Y 
• Include Closed Awards?   N and Include Closed Projects?  N
• Project Type:  Internal 
• Task ORG Parent Level and #Desc:  Level C and Planning Unit  

Questions?  Contact Kris Sano at 740-597-9933 or sanok@ohio.edu regarding Internal Awards (awards starting with #4) and Michelle Allison at 740-593-1870 or shockey@ohio.edu , or Cindy Perry at 740-593-1871 or perryc@ohio.edu regarding Sponsored and Cost Share Awards (awards starting with a #1, 2, or 3).