For most grants, drawdowns on grants cash-managed by OSC BSAO are based on an award’s Accounts Receivable balance. OSC BSAO managed grants are associated with an “ACTIVE” customer contract whereas for non-managed grants the contract is “PENDING”. This status determines whether transactions flow into the SFS billing process.

On a daily basis, the SFS runs an interface process that collects all of the day’s expenditures associated with federal projects and records those transactions in the Project Costing module. Upon payment date, expenditures collected against an award linked to a customer contract with a status of “ACTIVE” will generate bills within the SFS. Once these bills are approved, a corresponding Accounts Receivable is generated. For more detailed information on billing, see Section 5 - Federal Billing and Invoicing of this Chapter.

Once bills are approved, the corresponding Accounts Receivable amount will be pulled into a custom Accounts Receivable Drawdown Worksheet that will serve as the basis of OSC BSAO’s draw requests. This page relies on accurate billing attributes maintained in both the Grant Award and Customer Contract Modules within SFS to ensure reimbursement funds are drawn against the correct pool of funding in the relevant federal draw systems. Failure to ensure attributes are correct could result in inaccurate draw requests by OSC BSAO and could have reporting impacts. It is essential that anyone responsible for inputting these attributes verify their accuracy before sending the Customer Contract to OSC BSAO for review and approval. These attributes should also not be changed after approval of the Customer Contract unless funding for the award in the federal draw system has changed.

If the amount available on the federal draw system is less than the amount to be drawn on the worksheet, OSC BSAO will notify the agency that this over-spending against the award must be resolved by posting an AP Journal Voucher or GL Journal Entry moving charges off the grant or by having the federal agency increase the award amount on the federal system. OSC BSAO cannot perform a partial draw so the amount available on the federal system cannot be drawn until the overspending is moved.

Once the drawdowns are completed, OSC BSAO approves the draw worksheets, which creates a deposit within SFS. On the following business day, funds are received by the bank. OSC BSAO then matches the bank receipts to the deposit and payments. Once this matching is complete, the receivable is eliminated and the receipts are posted to the individual projects.

The Federal Grant Related Expenditures (NY_PC_QRY_FS_FED_GRNT_TRNS_HIS) query can be used to track agency source transactions through the above-described billing and deposit process.  This query includes fields such as the accounts receivable invoice number and the related deposit ID once the transaction has been drawn for reimbursement. 

For those projects for which an agency tells OSC the projects and amounts to be drawn, the agency must enter a Direct Journal Payment in the SFS. Once the payment has been approved by agency staff, an email should be sent to [email protected]. The email should include the Deposit ID and a listing of the Reference Award Numbers and amounts. The accounting entries on the deposit will be used to process the drawdowns on the federal system. Once the funds are received, OSC BSAO will post the receipt.

 

Guide to Financial Operations

REV. 5/22/2024