Does your unit receive Indirect Cost Recovery (ICR) funding in the 200250 fund code? If so, see below for some guidelines to keep in mind when managing these funds:
- Since ICR funding is generated from indirect cost recovery charges assessed to grant funds, it is typically unallowable to make any type of deposit directly to the ICR fund via cash, check, wire, ACH, or credit card terminals. The ICR fund is not intended to account for these types of receipts, as they usually belong in another type of fund (such as self-supporting or gift).
- Since ICR funding is not generated from tuition assessments, ICR funding cannot be used for instructional expenses. Thus, as outlined in the various resources found in the Banner Program Codes & NACUBO Functions web page, the 200250 fund code cannot be used in combination with any program code which has a 1000 - Instruction NACUBO function assigned to it.
- ICR budget cannot be transferred from one C-FOP to another via a unit-generated journal voucher. If ICR budget needs to be transferred from one C-FOP to another, then the transfer must be processed by your applicable budget office. To initiate this type of transfer, submit a completed Budget Adjustment Request Form to your budget office. The budget office will then use this completed form to process the budget adjustment in Banner on your behalf.
- Since the 200250 fund code is used university-wide across many units, it is important to pay close attention to the chart, organization, and program code combination that you are using when posting expenses to the 200250 fund code. This will help prevent expenses from accidentally posting to a misclassified accounting string.
For further details, refer to UAFR's ICR Fund FAQs.
Contact
If you have any questions, reach out to one of our subject matter experts in the ICR Funds section of UAFR's Who to Ask list.
