The Office of the Vice President, Chief Financial Officer and Comptroller announces an open comment period (beginning March 7 and closing March 18) on the management and accounting for facility use agreements (FUAs) and technical testing agreements (TTAs).
Highlights include:
- 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.
To review the policy, download the PDF document Section 22.nn Management and Accounting for Facility Use Agreements (FUAs) and Technical Testing Agreements (TTAs)
To provide feedback, please go to Open Comment Period: March 7-March 18 (uillinois.edu) and use the "Add Comment" link in the bottom right-hand corner of the webpage. On the next screen, choose the "Sign in with my NetID" option and log in with your university credentials and then provide your comments on the Feedback Board.
Another way to submit comments or feedback without posting to the Feedback Board would be to simply email obfspolicies@uillinois.edu. We appreciate your review and feedback on this updated policy.
Contact
For questions contact the Policy Office at (312)585-9071 or obfspolicies@uillinois.edu.
