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Re: Accounting capabilities using Oracle FMS or other grant accounting systems Key, Diana 22 Jun 2006 10:45 EST

Florida State University implemented PeopleSoft Financials 8.4 (now Oracle PeopleSoft) in July 2004. This system has the capability to stop expenditures are whatever level we choose:  total award amt, direct and indirect, high level categories, detail categories, etc. We currently stop overexpenditure at the total award (budget) amount, but on 7/1/06 we are moving to controlling by direct and indirect. However, we do have business procedures in place that allow payroll to post without checking budget availability.

Diana

Diana L. Key   :)

Assistant Director

Sponsored Research Services

Florida State University

98 South Woodward Avenue

Tallahassee, FL 32306-4166

P: 850-644-8648 F: 850-644-1464

________________________________

From: Research Administration List on behalf of Thea Arocho
Sent: Thu 6/22/2006 9:17 AM
To: xxxxxx@hrinet.org
Subject: Re: [RESADM-L] Accounting capabilities using Oracle FMS or other grant accounting systems

Colleagues,

I am looking for some feedback regarding the use of the Oracle Financial
Management System - and the statement one of our accountants made regarding
the system's capability.

We authorize pre-spending accounts for use until award docs are received on
projects that have time sensitive equipment or travel issues. However, when
these accounts are established, we limit spending to an authorized amount
which the guarantor (Dean or Chair) has approved. In reviewing some of
these transactions, we noted overspending beyond the guaranteed amounts. We
followed up and were told by the accounting department that it is
impossible to prevent overspending on the accounts (or any grant account
for that matter) because "no accounting package nationwide has the
capability to monitor and prevent an overspent situation". Being the logic
geek that I am, I have a hard time accepting this response. Can some of you
out there with Oracle fms experience (or other systems used for grant
accounting) offer some confirming comments or (preferably) affirming
counters to this capability statement?

Best,
Thea R. Arocho, CRA
Senior Grants and Contracts Manager
Ohio University
Office of Research and Sponsored Programs
105 RTEC
Athens, Ohio 45701
(740) 593-2856 (Tel)
(740) 593-0379 (Fax)

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 Instructions on how to use the RESADM-L Mailing List, including
 subscription information and a web-searchable archive, are available
 via our web site at http://www.hrinet.org (click on "Listserv Lists")
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