A billing agreement is a binding agreement between two local institutions that is utilized when an investigator/researcher/trainee is an employee of one institution and is performing work at another local institution. Billing agreements are for the reimbursement of salary and fringe to the investigator’s/researcher’s/trainee’s primary institution and avoids the issuance of dual paychecks and benefit plans.
For subawards scheduled to receive continuation funding in FY2016 and set-up in task logic, confirm whether and how the subaward will be impacted by the transition BEFORE incurring any expenses after the end date of the FY2015 budget period. Recommend reviewing subaward, and confirming with PTE, if necessary, 60-90 days in advance of the FY2015 budget period end date. If the PTE will need us to request approval for carry-over as a result of the transition, a new subactivity for the transitioned award will be required.
Submit a request for pre-award authorization for the new P-Subaccount Fund if necessary to cover project costs incurred prior to the start date of the transition budget period. After the pre-award authorization is complete, you can process journal adjustments.