To review a list of known issues we are working on please visit our Workday Finance status page. Have something additional to report? Contact askfinance@virginia.edu
To review a list of known issues we are working on please visit our Workday Finance status page. Have something additional to report? Contact askfinance@virginia.edu
The Office of Financial Planning and Analysis reviews and approves service rates for new and existing revenue-generating activities that support the instruction, research, public service, and patient care missions of the University.
Revenue Generating Activities (RGAs) are all operations that produce income or recover costs regularly by providing goods or services to the University community or, in some cases, to the general public.
The University has identified three categories of charges requiring reviews and/or approvals.
*Internal Service Providers that provide goods or services to sponsored programs are referred to as recharge centers.
The director of each revenue-generating activity is responsible for the initial calculation of all cost-based rates to be implemented for that activity.
Within the Academic Division, requests to establish an internal service provider RGA, new or expanded services, must be approved by Business Assets & Cost Recovery first before being approved by the department chair or activity head, and the appropriate dean or vice president.
Cost-based rates will be developed for each product or service. Special rates, such as rates for one individual, may not be used. The Federal government cannot be charged a higher rate than other customers under the Uniform Guidance, 2 CFR Part 200 – Appendix III.
An internal service provider is required to maintain sufficient funds to cover expenses and must bill clients at least monthly. It is the responsibility of the department chair or activity head to verify that the ISP is meeting these requirements. Rates should be set at a level that will recover all allowable costs. The department chair or activity head is responsible for funding any under-recovery from other funds.
Biennial rate reviews will be conducted in conjunction with the ISP manager and the responsible officer or their designee concerning maintaining breakeven status. Annual reviews will be conducted by the ISP manager.
Rates can be changed at any time during the year provided a revised rate calculation is submitted to and approved by the responsible officer or their designee before it is used.
Operating statistics must be kept on all services charged out. Internal service providers will monitor and record the volume of activity for each service on a regular and timely basis.
The University's exposure from noncompliance with federal Uniform Guidance, 2 CFR Part 200 - Appendix III, could involve reimbursement/fines to the government as well as adverse publicity which could harm future award applications.
Failure to comply with the requirements of this policy may result in disciplinary action up to and including termination.
Questions about this policy should be directed to Business Assets & Cost Recovery.
Submit an approved request* to establish an internal service provider revenue-generating activity, new or expanded services, to Business Assets & Cost Recovery through askfinance@virginia.edu. (* Approved by the department chair or activity head and the appropriate dean or vice president.)
Core facilities are managed by the Office of Research Core Administration (ORCA). For more information, please visit https://med.virginia.edu/core-facilities/cores/
If you need assistance or have questions please reach out to UVAFinance