Contracts and Grants Tab

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Contracts and Grants Tab

The fields on this tab define attributes that are pertinent to Contracts and Grants accounts. If establishing a contract or grant account, these fields allow you to define how the account automatically generates and distributes indirect cost. The tab also collects information about any control account that might be related to this account and the CFDA number field categorizes grants for audit purposes. These fields are required if the account is identified as a Contracts and Grants account by its Fund Group or Sub-Fund Group.

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Contracts and Grants tab definition

Title	Description
Contract Control Chart of Accounts Code	Required if the fund group code or sub-fund group code identifies the account as a Contracts and Grants account, otherwise not allowed. Select the Chart of Accounts that the Contract Control Account Number belongs to from the Chart list, or search for it from the lookup . An account can be referenced as its own control account. If accounts cannot cross Charts (KFS-SYS ACCOUNTS_CAN_CROSS_CHARTS_IND parameter is set to 'N'), this value is read-only.
Contract Control Account Number	Required if the fund group code or sub-fund group code identifies the account as a Contracts and Grants account, otherwise not allowed. Enter the primary spending authority account for a contract that has been assigned multiple accounts in the system or search for it from the Account lookup . This is the one account that most reporting is based on. It represents more fully than any other the full functionality of the project and its corresponding expenditures and revenues.
Account Indirect Cost Recovery Type Code	Required if the fund group code or sub-fund group code identifies the account as a Contracts and Grants account; otherwise not allowed. Enter the code to identify a particular indirect cost recovery type. This code identifies a certain set of object codes that are excluded from indirect cost charges.
Financial Series ID	Required if the fund group code or sub-fund group code identifies the account as a Contracts and Grants account, otherwise not allowed. Enter the unique identifier that indicates which series ID from the Automated Indirect Cost Recovery table is used to determine indirect cost percentage and the income and expense account(s).
Indirect Cost Rate	Required if the fund group code or sub-fund group code identifies the account as a Contracts and Grants account, otherwise not allowed. Enter the cost recovery rate relative to direct costs spent in a particular fiscal year on Contracts and Grants that covers the cost of indirect expenses such as light, heat, central administration, etc. that cannot be directly allocated to any particular sponsored project but nonetheless are real costs incurred by the institution as a result of participating in the sponsored project.
Indirect Cost Recovery Chart of Accounts Code	Required if the fund group code or sub-fund group code identifies the account as a Contracts and Grants account, otherwise not allowed. Enter the chart code for the indirect cost recovery account that is receiving the indirect cost charged, or search for it from the Chart lookup . If accounts cannot cross Charts (KFS-SYS ACCOUNTS_CAN_CROSS_CHARTS_IND parameter is set to 'N'), this value is read-only.
Indirect Cost Recovery Account Number	Required if the fund group code or sub-fund group code identifies the account as a Contracts and Grants account, otherwise not allowed. Enter the account number that is receiving the indirect cost recovery income generated by the account, or search for it from the Account lookup .
CFDA Number	Required if the fund group code or sub-fund group code identifies the account as a Contracts and Grants account, otherwise not allowed. Enter the Code of Federal Domestic Assistance number used to identify Contracts and Grants accounts for a Federal A-123 audit.