Update on Short Term Investment Pool (STIP) Procedures for Sponsored Awards
Effective July 1, 2016, STIP distribution began posting directly to the chartstring that earned the interest for those sponsored projects that have been identified with the STIP_REQ attribute. The STIP_REQ attribute was implemented for all awards where the sponsor requires the reporting, tracking or management of STIP within the award. During award set-up, CGA assigns this attribute in the Research Administration System (RAS) and includes a description of the clause that states the requirement. For example:
A corresponding budget journal will also be processed to properly account for this distribution. The budget journal for the July and August STIP distributions will be posted by September month close, and a budget journal for STIP distribution will be posted monthly thereafter.