Glossary
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Back-value transactions

Transactions whose effective date is prior to the current accounting date. Also known as value-dated transactions.

 

 

Baselined budget

The authorized budget used for expenditures for an award, project or task.

 

 

Benefit

Any part of an employee’s remuneration package that is not pay.

 

 

Bid

The seller's offer to furnish material or perform services at a stated price under specific terms in response to the buyer's solicitation. A bid may be a formal document, an advertisement, a letter, or a verbal offer by the bidder.

 

 

Bonus (performance/incentive)

A lump-sum, non-cumulative cash award that may be granted to an employee in the following situations:

  • for a significant contribution that substantially benefits the Research Foundation, project, or unit.
  • as a productivity bonus when certain predetermined productivity measures are met during the performance period 

 

 

Budget controls

Parameters that set the funds control level for awards, tasks, resources and resource groups in a project. When budgetary control is

enabled,funds can be checked online for transactions, and funds can be reserved for transactions by creating encumbrances.

 

 

Budget entry method

The combination of three parameters to determine how the budget is entered. The parameters are: 

  • the level at which budgeting is done (e.g., project, task)
  • resources are expenditure categories. A resource group is similar to today’s "major category" level; a resource is the "minor category." A major conceptual change in this area is that the number of expenditure categories has increased from 100 to approximately 300 to support all-funds reporting.
  • the time period for budgeting.  

 

Burden costs

Costs of doing business that cannot be directly attributed to work performed, such as fringe benefits, office space, and administrative costs. Burden costs are also known as indirect costs or F & A.

 

 

Burdened cost

Cost of an expenditure item, including raw cost plus burden costs.

 

 

Burden schedule

Establishes the burden multipliers and bases used to calculate the burdened costs of each expenditure item charged to a project.

 

 



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