Revisions Made to SPS Account Management Guidelines - 12/13/12
In order to address overdrafts on Voluntary Support (VS) accounts in a more timely and efficient manner, Sponsored Program Services (SPS) has updated the Account Management Guidelines with the following language:
Voluntary Support (fund 49010000) accounts will not be allowed to charge in excess of cash received. Departments will be notified by SPS on a monthly basis of overdrafted accounts to determine how to bring the account to zero. If the overage is not cleared or the account placed on a department-backed Notice to Proceed within one month of full expenditure, the account will be locked.
The overdraft lock management expectations referenced in the guidelines are not applicable to VS accounts.
Questions relating to the new guideline can be addressed to Jessica Lawrence, assistant director post-award.