Federal Financial Report
This topic provides an overview of the Federal Financial Report.
Overview
The Federal Financial Report provides the award financial information in a standard layout defined by the federal agency. Use this report to track the summary transactions for an award, the amount spent or received, and the outstanding obligation amount.
Key Insights
This report answers the following business questions:
-
What's the cumulative amount of actual cash received that you must report to the federal agency?
-
What's the cumulative amount of federal fund disbursements that you must report to the federal agency?
-
What's the total funds authorized, total expenditures, and total unliquidated obligation that you must report to the federal agency?
Frequently Asked Questions
The following table lists the frequently asked questions about this report.
|
FAQ |
Answer |
|---|---|
|
How do I find this report? |
Report and Analytics - Shared Folders - Projects - Grants Management - Award |
|
How do I generate this report? |
Submit the Federal Financial Report process. |
|
Who uses this report? |
Grants Administrator |
|
When do I use this report? |
When you want to view and print award financial information in the standard federal format. |
|
What can I do with this report? |
View the following information and print the report.
|
|
What type of report is this? |
Oracle Analytics Publisher |
Process Parameters for the Report
You can run the Federal Financial Report process for a single award or multiple awards within or across business units.
The Federal Financial Report process accepts the following parameters:
|
Parameter |
Description |
|---|---|
|
* Generate Report |
Specifies to submit the process for a single award or multiple awards. |
|
* Business Unit |
Name of the business unit. |
|
* Award Name |
Name of the award. Note: Not required when you process multiple awards.
|
|
Sponsor |
Name of the sponsor. Note: Required when you process multiple awards. When the
award uses a letter of credit, the LOC number is displayed. The sponsor
award number and document number are listed in the Federal Grant Number
field when you process single or multiple awards, respectively.
|
|
Institution |
Name of the business unit. Note: Required only when you process multiple awards.
|
|
* Certifying Official |
Authorized person who signs on the federal financial report when submitting it to the federal agency. |
|
* Report Date |
Date when the report is generated and submitted to the federal agency. The default value is the current date. |
|
* Period End Date |
End date of the reporting period. For example, 31 March is the end date for the quarterly report. |
|
* Report Type |
Type of report. Valid values are Annual, Semi-Annual, Quarterly, or Final. |
| Basis of Accounting | Values are Accrual or Cash. The default value is selected from the primary ledger. |
|
Total Recipient Share Required |
Total required recipient share of costs within the Federal Financial Report report period end date. Note: Required only when you process a single award.
|
|
Total Federal Program Income |
Amount of federal program income earned. Note: Required only when you process a single award.
|
|
Program Income Expended in Accordance with the Deduction Alternative |
Amount of program income that was used to reduce the federal share of the total project costs. Note: Required only when you process a single award.
|
|
Program Income Expended in Accordance with the Addition Alternative |
Amount of program income that was added to the funds committed to the total project costs and expended to further eligible projects or program activities. Note: Required only when you process a single award.
|
|
Comments |
Any explanations or information that's required by the federal sponsoring agency. |
Output Report
The Federal Financial Report output report prints the following details:
|
Section in the Report |
Field Name |
Description |
|---|---|---|
|
1 |
Federal Agency and Organizational Element to Which Report is Submitted |
Name of the primary sponsor of the award. Only awards with federal sponsors are applicable for Federal Financial Report generation. |
|
2 |
Federal Grant or Other Identifying Number Assigned by Federal Agency |
Award number that's tracked by the sponsor. The award number is displayed in the Sponsor Award Number field, in the General tab in the Edit Award Details page. |
|
3 |
Recipient Organization (Name, Street 1, Street 2, City, State, County, Country, Province, Zip/Postal Code) |
Name and address (the primary address that you entered in the Manage Institutions page) of the award institution. The award institution is displayed in the Institution field in the General tab in the Edit Award Details page. |
|
4a |
Unique Entity ID |
The identifier of the institution that's used in the report. The unique entity ID appears in the Unique Entity Identifier field in the Create Institution and Manage Institutions pages in Setup and Maintenance. |
|
4b |
EIN |
Unique identification number of the employer that's assigned by the Internal Revenue Service (IRS) for tax and accounting purposes. This value is populated from the legal entity that's associated with the award organization. |
|
5 |
Recipient Account Number or Identifying Number |
Award or contract number of the award for which the report is generated. |
|
6 |
Report Type |
Type of Federal Financial Report. Valid values are Annual, Final, Quarterly, and Semiannual. The report type is the Report Type parameter value that you specified when you submitted the Generate Federal Financial Report process. |
|
7 |
Basis of Accounting |
Accounting method of the primary ledger of the award organization. The accounting method is displayed in the Accounting Method field of the primary ledger of the award organization in the Manage Primary Ledgers page in the Setup and Maintenance work area. |
|
8 |
Project/Grant Period |
Start and end date of the award for which the report is generated. The start and end dates are displayed in the Start Date and End Date fields in the Edit Award Details page. |
|
9 |
Report period end date |
Date up to which the report amounts are calculated. The default value is the current date. The report period end date is the Report Date parameter value that you specified when you submitted the Generate Federal Financial Report process. |
|
10 |
Transactions |
Displays the cumulative amounts of expenditures with accounted dates within the inception of the award through the Federal Financial Report report period end date. |
|
10a |
Cash Receipts |
Sum of the applied (receipts matched against the invoice) and accounted receipt amounts with the accounting date from inception till the Federal Financial Report report period end date. Go to Receivables, click Manage Receipts, and search for receipts that have an invoice mapped and accounting date that's less than the Federal Financial Report report period end date. |
|
10b |
Cash Disbursements |
Sum of all accounted burdened cost incurred by the sponsor (external funding source) with the provider ledger accounting date that's within the Federal Financial Report report period end date. Go to Projects > Costs, and click Manage Project Costs in the panel drawer. Search for costs that match the contract and funding source as the sponsor and with an accounting period that's within the Federal Financial Report report period end date. |
|
10c |
Cash on Hand |
Difference between cash receipts (10a) and cash disbursements (10b). |
|
10d |
Total Federal funds authorized |
Sum of all direct and indirect funding from the sponsor (federal funds) that's allocated to budget periods within the Federal Financial Report report period end date. |
|
10e |
Federal share of expenditures |
Sum of all accounted burdened cost incurred by the sponsor (external funding source) with provider ledger accounting date that's within the Federal Financial Report report period end date. Go to Projects > Costs, and click Manage Project Costs in the panel drawer. Search for costs that match the contract and funding source as the sponsor and with an accounting period that's within the Federal Financial Report report period end date. |
|
10f |
Federal share of unliquidated obligations |
Sum of burdened costs from commitment transactions with provider ledger accounting date that's within the Federal Financial Report report period end date. Only purchase orders and supplier invoices are picked from commitments. Requisitions and third party commitments aren't considered. Go to Projects > Costs, and click Manage Committed Costs in the panel drawer. Search for costs that match the contract and with an accounting period that's within the Federal Financial Report report period end date. |
|
10g |
Total Federal share |
Sum of federal share of expenditures (10e) and federal share of unliquidated obligations (10f). |
|
10h |
Unobligated balance of Federal Funds |
Difference between the total federal funds authorized (10d) and total federal share (10g). |
|
10i |
Total receipt share required |
Total required recipient share of costs within the Federal Financial Report report period end date. The total recipient share required is the Total Recipient Share Required parameter value that you specified when you submitted the Generate Federal Financial Report process. |
|
10j |
Recipient share of expenditures |
Sum of all accounted burdened cost incurred by the internal funding sources with provider ledger accounting date that's within the Federal Financial Report report period end date. Go to Projects > Costs, and click Manage Project Costs in the panel drawer. Search for costs that match the contract and funding source as internal or organization and with an accounting period that's within the Federal Financial Report report period end date. |
|
10k |
Remaining receipt share to be provided |
Difference between the total receipt share required (10i) and recipient share of expenditures (10j). |
|
10l |
Total Federal program income earned |
Amount of federal program income earned. The total federal program income earned is the Total Federal Program Income parameter value that you specified when you submitted the Generate Federal Financial Report process. |
|
10m |
Program Income expended in accordance with the deduction alternative |
Amount of program income that was used to reduce the federal share of the total project costs. The program income expended in accordance with the deduction alternative is the Program Income Expended in Accordance with the Deduction Alternative parameter value that you specified when you submitted the Generate Federal Financial Report process. |
|
10n |
Program Income expended in accordance with the addition alternative |
Amount of program income that was added to the funds committed to the total project costs and expended to further eligible projects or program activities. The program income expended in accordance with the addition alternative is the Program Income Expended in Accordance with the Addition Alternativeparameter value that you specified when you submitted the Generate Federal Financial Report process. |
|
10o |
Unexpended program income |
Difference between the total federal program income earned (10l) and either the program income expended in accordance with the deduction alternative (10m) or the program income expended in accordance with the addition alternative (10n); based on which field has a value. |
|
11 |
Indirect Expense |
Displays the burden schedule version details that the expenditure items, dated until the report period end date, use to create the indirect expense amounts. Note: Burden costs are calculated using the project raw
cost and the burden schedule multiplier.This section reports data only if the burden is calculated by the
service. For converted costs, if the burden is loaded as miscellaneous
costs, these are not reported in the Indirect Cost section. If the
burden is loaded as miscellaneous costs, you can, however, change the
query of the Federal Financial Report output report manually to
include the imported burden costs for the converted costs.
|
|
11a |
Type |
Type of the burden schedule version that's used for calculating the burden rates for the expenditure items. |
|
11b |
Rate |
Overall rate of costs under the burden schedule that's calculated using the following formula: (Total burden cost / Total raw cost) x 100. |
|
11c |
Period From, Period To |
Start and end dates of the burden schedule version for indirect expenses. |
|
11d |
Base |
Total raw cost of all the costs that were created before the report period end date using the burden schedule, and that belong to the award and funding source (sponsor) for this report. |
|
11e |
Amount Charged |
Total burden cost of all the costs that were created before the report period end date using the burden schedule, and that belong to the award and funding source (sponsor) for this report. Burden cost is calculated for each eligible transaction by multiplying the project raw cost with the applicable burden multipliers defined in the burden schedule and then summing up all the calculated burden costs. |
|
11f |
Federal Share |
The federal share value is populated from the Amount Charged (11e) field. |
|
11g |
Totals |
Total of each of the indirect expense column value. |
|
12 |
Remarks |
Any explanations or information that's required by the federal sponsoring agency. The remarks are from the Comments parameter value that you specified when you submitted the Generate Federal Financial Report process. |
|
13 |
Certification |
Displays the certification details. |
|
13a |
Name and Title of Authorized Certifying Official |
Details of the person that you specified in the Certifying Official parameter when you submitted the Generate Federal Financial Report process. |
|
13b |
Signature of Authorized Certifying Official |
Not populated during the Federal Financial Report generation. |
|
13c |
Telephone(Area code, number and extension) |
Contact details of the person that you specified in the Certifying Official parameter when you submitted the Generate Federal Financial Report process. |
|
13d |
Email Address |
Email address of the person that you specified in the Certifying Official parameter when you submitted the Generate Federal Financial Report process. |
|
13e |
Date Report Submitted |
Date that's populated from the Report Date parameter value that you specified when you submitted the Generate Federal Financial Report process. The default value is the current date. |
Indirect Expense Calculation in the Federal Financial Report
The Base, Amount Charged, and Rate values that you view in the Indirect Expenses section of the Federal Financial Report are calculated using formulas based on the dates of the report.
The formulas use the following setup objects:
-
Burden Structures
-
Burden Cost Codes
-
Burden Schedules
Example of Calculating Indirect Expenses and Populating them in the Federal Financial Report
This example explains how indirect expenses are calculated and populated in the Federal Financial Report output report for the FFR Bonus Salary Award award.
In this example, here's how the burden structure is setup in the Manage Burden Structures page:
|
Field |
Value |
Value |
|---|---|---|
|
Name |
Bonus Salary Structure |
None |
|
Structure Type |
Precedence |
None |
|
From Date |
01/01/01 |
None |
|
Cost Base |
Labor |
None |
|
Cost Base Type |
Burden Cost |
None |
|
Burden Cost Code |
Fringe |
Labor Costing |
|
Precedence |
1 |
2 |
|
Expenditure Type |
Administration |
Professional |
|
Description |
Administration |
Professional |
|
Direct Cost Note: The direct cost value is specified in the Manage
Burden Cost Codes setup page.
|
Y |
N |
The budget schedule versions are set up in the Manage Burden Schedules setup page, as follows:
|
Field |
Value |
Value |
Value |
Value |
|---|---|---|---|---|
|
Version |
2021-and-After |
Jul-Dec2020 |
Jan-Jun2020 |
Before2020 |
|
From Date |
01/01/21 |
07/01/20 |
01/01/20 |
01/01/01 |
|
To Date |
None |
12/31/20 |
6/30/20 |
12/31/19 |
|
Type |
Firm |
Firm |
Firm |
Firm |
|
Burden Structure |
Bonus Salary Structure |
Bonus Salary Structure |
Bonus Salary Structure |
Bonus Salary Structure |
The multipliers to the burden schedule versions are set up as follows:
-
For Before2020 burden schedule version:
Field
Value
Organization
Vision City Operations
Burden Cost Code
Labor Costing
Multiplier
0.5
-
For Jan-Jun2020 burden schedule version:
Field
Value
Value
Organization
Vision City Operations
Vision City Operations
Burden Cost Code
Labor Costing
Fringe
Multiplier
0.5
0.2
-
For Jul-Dec2020 burden schedule version:
Field
Value
Value
Organization
Vision City Operations
Vision City Operations
Burden Cost Code
Labor Costing
Fringe
Multiplier
0.52
0.2
-
For 2021-and-After burden schedule version:
Field
Value
Organization
Vision City Operations
Burden Cost Code
Labor Costing
Multiplier
0.5
The FFR Bonus Salary Award award is created with the following values:
|
Award and Award Project Attributes |
Value |
|---|---|
|
Award Number |
FFR_BONUS_SALARY_AWARD |
|
Start Date |
10/01/17 |
|
End Date |
9/30/22 |
|
Primary Sponsor |
Department of Health and Human Services (DHHS) |
|
Business Unit |
Vision City Operations |
|
Legal Entity |
Vision City LE |
|
Institution |
Stephen University |
|
Burden Schedule |
FFR Burden Schedules |
|
Project Name |
FFR Salary Project |
|
Project Number |
FFR_Salary_Project |
|
Funding Source |
Department of Health and Human Services (DHHS) |
|
Start Date Note: Start date of the award project.
|
10/01/17 |
|
End Date Note: End date of the award project.
|
9/30/22 |
|
Burden Schedule Overrides |
None |
The Federal Financial Report process for the FFR Bonus Salary Award award is submitted with the following parameters:
|
Parameter |
Value |
|---|---|
|
Business Unit |
Vision City Operations |
|
Award Name |
FFR Bonus Salary Award |
|
Report Type |
Annual |
|
Certifying Official |
Mike Phillips |
|
Report Date |
8/12/20 |
|
Period End Date |
8/12/20 |
Two payroll costs are defined for the Jan-Jun2020 and Jul-Dec2020 burden schedule versions with the following values:
|
Payroll Cost Attributes |
Value |
Value |
|---|---|---|
|
Transaction Number |
7914796 |
7914799 |
|
Expenditure Item Date |
01/01/20 |
07/01/20 |
|
Expenditure Type |
Administration |
Administration |
|
Raw Cost |
$100.00 |
$100.00 |
|
Burdened Cost |
$100.00 |
$100.00 |
|
Expenditure Organization |
Vision City Operations |
Vision City Operations |
|
Project Number |
FFR_Salary_Project |
FFR_Salary_Project |
|
Task Number |
1.1 |
1.1 |
|
Contract Name |
FFR Bonus Salary Award |
FFR Bonus Salary Award |
|
Funding Source |
Department of Health and Human Services (DHHS) |
Department of Health and Human Services (DHHS) |
|
Person Name |
Parker, Alice |
Parker, Alice |
These two payroll costs are used to calculate the indirect expenses. The indirect expenses are calculated and populated in the Federal Financial Report output report as follows:
|
Type |
Rate |
Period From |
Period To |
Base |
Amount Charged |
Federal Share |
|---|---|---|---|---|---|---|
|
Final |
50 |
01/01/20 |
06/30/20 |
$120.00 |
$60.00 |
$60.00 |
|
Final |
52 |
07/01/20 |
12/31/20 |
$120.00 |
$62.40 |
$62.40 |
The Base, Amount Charged and Rate are derived for the costs using the Jan-Jun2020 burden schedule version, as follows:
-
The Base value of $120.00 is derived, as follows. As fringe is considered as direct cost, the transaction raw cost (100) is multiplied with the multiplier of fringe (0.2).
SUM(100 + (100 x 0.2))
-
The Amount Charged value of $60.00 is derived as follows:
SUM( (100 + (100 x 0.2)) x 0.5
-
The Rate value of 50 is derived as follows:
(60 /120) x 100