Monthly Financial Review Sheet
The Monthly Financial Review Sheet (MFR) offers the Principal Investigator/Project Director (PI/PD) the opportunity to review and confirm project expenses on a regular basis and to make changes to the project account, as needed. As the signatory on the project, the PI/PD is responsible for ensuring the MFR is completed and signed monthly. Please refer to the University Cost Transfer Policy for further information. Account summaries and detailed expenditure reports are available through PeopleSoft and the GL Inquiry Tool.
The MFR (Monthly Financial Report) is used to request financial adjustments to contract and grant accounts. Changes are initiated for a variety of reasons and each request is unique. Below are some things to keep in mind when completing MFRs:
- Corrections should be requested on the MFR dated for the month in which the transaction(s) occur. If the MFR has already been submitted to the RSC, please resubmit that month's MFR sheet with the necessary changes and mark "revised" at the top.
- Corrections are only able to be made for charges that have already been posted.
- Generally, the closing of the month will occur a day or two after the end of the month. At that time, no further postings to that month are allowed and transactions reflecting employee benefits and indirect costs are posted. Please see the GL Monthly Closing Schedule for more information.
- The MFR is due by the 30th of each month, whether or not there are any adjustments. The return of these forms is monitored as part of our auditing procedure.
- If you have any questions about the design and uses of the monthly review sheet, please contact Jennifer Camire at 780-4411 or by email firstname.lastname@example.org.
FOR STAFF WITH eMFR TRAINING
FOR STAFF WITHOUT eMFR TRAINING
|eMFR No Adjustments
Monthly Review Sheet
(FILLABLE Word Doc)