Net position balances for Project 2014758 must be zero at the Dept ID-Fund-Project level no later than June 30, 2021. As a result, journals to support extraordinary COVID-19 related expenses recorded using Project 2014758 must be complete no later than the appropriate fiscal year-end close deadline for FY 2020-21 balances. Review the following guidance on how to apply funding sources to support these expenses.
General Guidance
Policies regarding the recording of extraordinary COVID-19 expenses can be found on the Guidance for Handling Financial Implications of COVID-19 page of the UCSF Finance website. Campus departments are asked to record extraordinary expenses related to COVID-19 in Project 2014758 and are expected to use their reserves or other appropriate funding sources to support these expenses. Please note that no FEMA reimbursements have been received to date, and the likelihood of any substantial reimbursement is low.
Funding for Expenses Recorded in Project 2014758
Departments must identify funding sources to support all costs charged to this project. Because UCSF needs to retain the ability to identify the extraordinary expenses related to COVID-19 for a variety of critical reporting purposes and to facilitate reimbursement claims, follow these instructions:
- Using discretionary funds (except gifts, sponsored projects, or recharges): Do not move expenses out of Project 2014758, but instead, transfer funding in to support costs at the Dept ID-Fund-Project level. Please note that journals providing funding must use the same fund in which the expense is recorded; cross fund transfers are not allowed.
- Using gifts, sponsored projects, or recharges: Transfer expenses out of Project 2014758 into the appropriate gift, sponsored project, or recharge and add the appropriate Flexfield:
- Sponsored projects: Flexfield SPCVID
- Gifts and Endowments (not COVID-19 gifts): Flexfield COVID (optional)
- Recharges: Flexfield COVID (optional)
Note that expenses posted to Project 2014758 without offsetting funding in the corresponding Dept ID-Fund will incur STIP charges.
Expenses Recorded in Other Projects using Flexfields
No action is required as long as the cost is covered.
New and Continuing COVID Expenses
Continue to follow the guidance linked above to record extraordinary COVID-19 expenses in Project 2014758 or other sources and process the appropriate journals to transfer funding to cover expenses.
Please complete journals to support expenses as early as possible to avoid last-minute delays; all actions must be completed no later than the appropriate fiscal year-end close deadlines for 2020-21 balances. Contact your Control Point financial leadership with any questions. Questions can also be addressed to [email protected].