The Office of the Vice President, Chief Financial Officer and Comptroller announces an open comment period (beginning March 7th and closing March 18th) on the management and accounting for facility use agreements (FUAs) and technical testing agreements (TTAs).
Definitions of FUAs and TTAs. Step-by-step procedures concerning the management and accounting for FUAs and TTAs including, but not limited to:Factors to consider (such as customer base and overhead costs) when calculating rates. Clarification on the proper fund type to use when accounting for these activities. Guidance on how to ensure the use of a correct revenue-generating contract template.Steps to follow to ensure proper accounting of revenue and expenses, including those related to overhead assessments. Comprehensive list of resources relating to FUAs and TTAs.
Please review the proposed changes and provide feedback that will be considered before the new policy is published.
Contact: For questions contact the Policy Office at 312/585-9071 or firstname.lastname@example.org.