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The Grants Optimization project is helping CU maximize the value of its grants tools.
Over the past year, project teams have been working to provide:
In order to ensure we are administering grants funding appropriately, mitigating risk and ensuring compliance, new controls will be implemented in PeopleSoft for sponsored projects. The controls leverage the project/funding end date as well as project status before processing a payroll or non-personnel expenditure transaction.
Below shows the lifecycle of a project and what each status means. Project statuses will be used to streamline grants management.
Click on the hotspots below to learn more.
The below interactive graphic shows how a grant flows through the different systems. Click on the hotspots to see how the different systems work together.
Please proactively address any position funding updates for which you are responsible as soon as possible before the Oct. 22 go-live.
Ensure your active funding entries meet the following criteria:
Starting Oct. 22, you will not be able to create funding entries where the Funding End Date is blank or is after the Project End Date. The system will force a hard stop, rather than display the current warning message.
On Oct. 22, active positions with Funding End Dates that are blank or set after the Project End Date will be updated with a new funding entry row; that row will set the Funding End Date to be equal to the Project End Date effective Nov. 1.
Important: Ensure you have valid speedtypes on your funding lines. Invalid speedtypes will send the payroll to suspense.
Relying on this systematic update is not recommended, as it may not represent how you would like payroll to be paid and may result in payroll going to suspense if past the Project End Date. Remember: Funding going to suspense is not a valid solution.
The contract extension process varies by campus, and each campus is addressing ways to streamline and improve its contract extension process for timeliness. Please work with your Grants Administrator regarding your campus’s extension process.
Visit your campus end date project website for additional information:
As a condition of receipt of sponsored awards, sponsors expect that the university will establish adequate controls to ensure accuracy and appropriateness of expenses as part of their fiduciary responsibilities.
If you have questions after these changes have gone live, contact the following by campus:
Denver | Anschutz: Contact your assigned Post-award Specialist
Boulder: Contact your area or grants accountant, or send an email to firstname.lastname@example.org
Colorado Springs: Contact Sponsored Project Accounting (contact information is at the bottom of the page)