POLICY STATEMENT
The School of Medicine requires the use of advance accounts whenever possible to eliminate the need for reallocating later. The anticipated resources fund should only be used in those instances where an advance account cannot be obtained. If used, the anticipated resources fund must be monitored and cleared on a regular basis. Any remaining balances will be charged back to the departments, centers and institutes at the end of the fiscal year.

REASON FOR PROCEDURE
To provide assistance to departmental administrators for covering salaries from external resources that are anticipated but have not "officially" been awarded to the designated department, center or institute.

WHO SHOULD BE KNOW THIS PROCEDURE
Deans
Center and Institute Directors
Department Chairs
School of Medicine Administration
School of Medicine Faculty
Business Administrators
Office of Research Support Services
Penn Research Services

GENERAL INSTRUCTIONS

• The Anticipated Resources Fund (000001) should be used to provide a place for the recording of expenditures that a department, center, or institute plans to charge against grants which have not yet been received or for which an advance account has not been obtained.



• Only salary and benefit expenses should be charged to the Anticipated Resources Fund. Current expenses should not be charged to the Anticipated Resources Fund.



• Any expenditures remaining in the Anticipated Resources Fund will be transferred to the department, center or institutes CEO/Dean's Fund at the end of the fiscal year.



• The best practice would be to request an advance account rather than using the Anticipated Resources Fund. Refer to Advance Account SOP

PROCEDURES

• On a monthly basis run the account detail payroll report for salary detail as well as the 104 Report, Revenue and Expense Summary by CNAC/ORG/FUND/CREF, from Ben Balances. The 104 Report will provide detail for any current expense transactions. In order to capture expenses by CREF, please remember to leave the parameters for CREF blank. To retrieve the same data utilizing business objects, run the query entitled Detail Rpt.rep to view detailed transactions by object code for current expenses and the query entitled payroll.rep to view salary detail by object code and employee.



• Reallocate all expenses in the anticipated resources fund to the appropriate fund once the new fund has been established. Reallocations should be made within 90 days of the original transaction. Reminder: Once the new account is established, the payroll distribution screen should be changed to reflect the new 26-digit grant account number.



• There may be occasions when grant funds have not been established in time for reallocations to take place prior to the distribution of Effort Reports. If this situation arises, please contact the Federal Compliance Office within the Penn Office of Research Services at 898-5743.
  

CONTACTS
Departmental Administrators
Office of Research Support Services
Penn Research Services
SOM Department of Finance

FORMS AND ATTACHMENTS
Refer to Advance Account SOP