RSPA Monthly Financial Reports
Financial reports are intended to keep the responsible party informed and up to date on the financial status of their respective account(s). The responsible party should review these reports each month and contact the Restricted Funds area of the Controller’s Office if there are any problems or concerns with the amounts contained in the reports.
Grants/Contracts/Sponsored Research Accounts
The Principle Investigator (PI) will receive three financial reports each month via DocSoup. These reports will be accessible via DocSoup by the 15th of the month. The financial information contained in these reports reflects either monthly data for the month just ended or project-to-date data through the month just ended. The report name and a brief description of each of these financial reports is as follows:
- Budget vs. Actual w/Variances/Projects – This report contains revenue and expenditure descriptions by row with six columns of financial data categorized accordingly. The first column contains the approved project budget for the entire grant/contract period. The second column reflects actual revenue received and actual expenditures incurred since the start of the project (through the report date). The third column lists any project encumbrances. An encumbrance represents an amount of funds obligated or set aside for future use. The fourth column is the sum of column 2 and column 3. The fifth column is the difference between column 1 and column 4. The sixth column contains actual year to date revenue and expenditures for the current Bradley fiscal year.
- Revenue and Expense – This report contains revenue and expenditure descriptions by row with five columns of Bradley fiscal year financial data categorized accordingly. The first column contains the monthly revenue and expenditures for the report month. The second column contains actual year to date revenue and expenditures for the current Bradley fiscal year. The remaining three columns are of no significance to grant/contract accounts.
- Account Detail Report – This report identifies all of the individual transactions by revenue and expense categories that have hit the grant/contract account for the report month.
Gift and University Designated Accounts
The Authorized Account Individual will receive financial reports each month via DocSoup. These reports will be accessible via DocSoup by the 15th of the month. The reports will include a Revenue and Expense report and an Account Detail report as detailed and explained above.
Endowed Spending Accounts
Endowed Spending account reports are sent in paper format on a monthly or quarterly basis depending upon the account.