The Office of the Vice President, Chief Financial Officer and Comptroller announces a new policy section 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.
Contact
For questions contact the Policy Office at 312/585-9071 or obfspolicies@uillinois.edu
