Sponsored Financial Services records the project’s authorized obligation in the general ledger in the approved high-level cost categories, CG Reporting Descriptions. These categories were created to align with federal budget costing categories. Standard KFS budget object codes are used to post the budget to the general ledger.
Our team strives to record the budget in the general ledger within two weeks, or by the end of the month, of when the contract control account is approved, or when the Office of Sponsored Programs distributes the agreement documentation. This timeline will flex based on the timing of the action. For example, it is challenging to initiate, review, and approve budget documents for distributions in the last few days of the month.
The unit can initiate and submit budget adjustment documents to distribute budget authorization to project accounts, to project sub-accounts, or to more granular object codes within a CG Reporting Description category. The administering unit for the project should initiate budgets to collaborating departments once approved by the Principal Investigator (PI) or Co-PI.
Use caution to avoid creating additional costing categories, negative line items, or increases/decreases in the overall project budget.
Budget adjustment documents created by the unit should be ad-hoc routed for approval to the group below:
Namespace Code: KFS-CG
Name: CG Budget(cu)
Each KFS financial e-doc has an upload template available directly from the Accounting line section of the document.
To facilitate budget allocations, SFS provides two additional options to transfer budget authorization seamlessly between accounts. These templates can be used to generate the budget adjustment import template for both the From and To section of the document.