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These are revenue transactions: For restricted fund budgets (grants, contracts & gifts) revenue is recognized as expenditures post. The full amount of an award or supplement is recorded upfront to revenue class 9799 (increase in fund balance), followed by the two-digit source code designating what agency gave us the award (i.e. 01 designates National Institute of Health). An award of $100,000 for an NIH award would show as a credit of ($100,000) to 9799-01.

Every restricted fund budget is assigned a revenue code which designates the awarding department (revenue class) and awarding agency within that department (revenue source). For NIH, the revenue code is 9313-01: revenue class of 313 (Department of Health and Human Services) and revenue source of 01 (National Institute of Health). NIH is an agency within DHHS.

As expenditures post to a restricted fund budget, revenue is posted to the revenue code assigned to that budget, and a corresponding debit is made to the fund balance. In the example above, $1 in expenditure would create revenue of ($1) to 9313-01 and a decrease in fund balance of $1 to 9799-01. If a restricted fund budget is entitled to Facilities & Administrative (F&A) cost then revenue is posted to the appropriate Facilities & Administrative (F&A) cost revenue budget (74-1781 for IC revenue from Washington State awards, 51-1734 for IC revenue from all other grants and contracts).

In the example above, if the IC rate was 50% then for the $1 of expenditure, revenue of ($.50) would post to 51-1734 using revenue code 9313-01. You would not see a corresponding debit to 9799-01 on the restricted fund budget. At the end of an award, if that award was fully expended and there was no Facilities & Administrative (F&A) cost (using our example or an NIH award of $100,000), 9313-01 would equal ($100,000) and 9799-01 would be $0.

If, in our example, the award was fully expended with direct expenditures of $66,667 and Facilities & Administrative (F&A) cost of $33,333, then 9313-01 would equal ($66,667) and 9799-01 would equal ($33,333). The Revenue Class 9788 designates beginning fund balance. At the close of a biennium, the balance (revenue minus expenditures) on a restricted fund budget is carried forward to the new biennium as 9788 plus the revenue source. For NIH awards this would be 9788-01.

Above all, do NOT deposit the payment as revenue to a grant, contract, or gift budget. This will throw the award and revenue amounts out of balance and lead to complications at closeout. Instead, refunds to these budgets should be processed as reverse expenditures to the same object/sub-object code as the initial charge. See instructions for reverse expenditure processing here.