Based on feedback from the campus, it is recommended that the project code field in the Financial System and related sub-systems be used to track mandatory cost sharing as mentioned above. This method of tracking was determined to be the most flexible and offered the most options for reporting cost sharing within any expense category. A separate project code will be used to identify cost sharing for each sponsored project. The advantages and disadvantages of this tracking method are outlined below. Identifies cost sharing for each sponsored project and in total for indirect cost rate calculation.
Meets cost sharing documentation requirements.
Limited use of project code field for salary costs by departments. Requires additional financial transactions at the department level. Mandates use of a field currently being used by departments. A different project code will be used to track cost overruns. Use of the project code field to track matching funds will not be required unless a unique fund number cannot be assigned.