Research Finance

Grants and Contracts with June 30 End Dates

To help us with timely and accurate invoices we ask that you submit:

• Any cost transfers for these projects in the next two weeks, so that there is sufficient time for them to post. Any cost transfers submitted after 6/30 will be heavily scrutinized as there is not enough time to account for late adjustments before our final invoice is submitted. 
• Update salary allocations for any employees charging to these projects to end by 6/30 and start on new projects (as appropriate) from 7/1.
• Check-in with subrecipients to make sure they’re invoicing is up-to-date and on-time submission of their final invoices to BMC (as applicable)

 Late adjustments cause significant delays in posting and reconciliations, which in turn delay our final invoices. With around 90 final invoices to create we will have very limited capacity to react to late adjustments. 

Many of our state and city funders have a hard 45-day final invoice deadline. We ask that you pay special attention to those projects when reviewing for accurate expense posting in the final month. For City and State grants, we will start the final invoice process once June is closed, and all final recons will be based on the June BSR report. Please reconcile all costs for the full budget year and provide the full list of pending expenses (will be processed and posted after 6/30/23) to your assigned RFA by 6/15/2023.

The Research Finance Team is “IN”

Join us for our weekly Workday Salary Allocation information office hours: Tuesday from 3-4 p.m. and Friday from 10-11 a.m.

To join one of our sessions, preregister by emailing Ana.Malpartida@bmc.org to reserve a spot.

 Updated Cost Transfer Policy and Forms

The updated cost transfer policy has been published by the Policy and Procedure Committee, and the new CT forms are available online:

• Payroll CT Form
• Non-Payroll CT Form

Cost Transfer Training scheduled for May 11, with recording for those who miss it.

 Review of:

• Updates to the policy
• The new forms
• SOPs for submitting cost transfers.

Email us if you have any questions or want to be added to our training contact list:

BMCResearch.Operations@bmc.org

Updates to Discretionary Budget Status Report

Reports for discretionary funds can now be viewed from the Budget Status Standard Report – Funds”. They are no longer listed under the “Budget Status Standard Report - Project Detail.”

This change was made to better represent the remaining balance on discretionary funds. It behaves similar to the “Budget Status Standard Report - Project Detail,” but has a secondary table to represent the “Available to Spend Balance.”

The Research Finance Team is “IN”

Join us for our weekly Workday Salary Allocation information office hours: Tuesday from 3-4 p.m. and Friday from 10-11 a.m.

To join one of our sessions, preregister by emailing Ana.Malpartida@bmc.org to reserve a spot.

Update Cost Transfer Policy and Forms

With input from department, Research Finance will be publishing an updated cost transfer policy and revamped forms. Thank you to all who provided feedback.

Be on the lookup for a notice scheduling the Cost Transfer Training. We will cover:

• Updates to the policy
• The new forms
• SOPs for submitting cost transfers.

Email us if you have any questions or want to be added to our training contact list:
Research.Finance@bmc.org

The Research Finance Team is “IN”

Join us for our weekly Workday Salary Allocation information office hours: Tuesday from 3-4 p.m. and Friday from 10-11 a.m.

To join one of our sessions, preregister by emailing Ana.Malpartida@bmc.org to reserve a spot.

Research Finance has begun the new year by launching a 2023 training series to support the research community. Visit us frequently for information on how to register for new trainings. And subscribe to our newsletter to be up to date with new training schedules. You can also email BMCResearch.Operations@bmc.org to RSVP or ask to receive the link if you didn’t receive it. 

Research Finance 2023 training series and informational sessions:

• January – Info Reporting (Please email Research Operations to receive the recording.)
• March 17; 12:30--2PM – Workday Salary Allocations. (Please email Research Operations to receive the recording.)
• March 30 – Learning About Invoicing Session. (Please email Research Operations to receive the recording.)

When you email us at BMCResearch.Operations@bmc.org please add the training date and title in the subject line. We’ll send you the link and include you in future notices.