POLICY: Project Cost Report Revision Form

PURPOSE: To provide a mechanism to revise the budget, quantity, units, description, and code columns on the Cost Report.

RESPONSIBILITY: Project Manager

PROCEDURE:

1. After the estimate is rolled into accounting and the Cost Report is formed, all revisions are to be submitted to accounting on Form O.P.M.-120.

2. If a new code is being added, an “A”, “E”, or “N” is to be written in the “New Code” column. If the code is not in the budget but is in the accounting master list, use “A”. If the code is not in the budget or the accounting master list, but is in the estimate master list, use “E”. If the description needed is not in either master list, accounting or estimating, consult with estimating to obtain a code number and place an “N” in the new code column.

3. Different descriptions may not have the same code number and category. When adding a code, first check the master lists to get the description and code needed. If there is not a description that covers your needs, then identify a number not used on the estimate master list. Confirm with estimating that this code has not been used. Then you may title as needed in the “Description” column.

4. The “Description”, “Quantity” and “Units” columns should only be completed for new codes.

5. If the budget for a particular code that is in the Cost Report is being revised, nothing is to be entered in the “New Code” category.

6. The “New Change Amount” is the difference in the total “Add Amount” and “Deduct Amount.”

7. After the form is complete it is to be submitted to accounting for the Cost Report to be updated. If there is an “E” or “N” in the new code category, then a copy is also to be submitted to estimating so the master code lists can be updated.

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