Financial Impacts of COVID-19

SPECIFIC GUIDELINE INFO
Guidelines on Tracking and Allocating COVID-19 Expenses
SPONSORED PROJECTS
Guidance
SPONSORED PROJECTS
Frequently Asked Questions
Info & Impact

Information and Impacts of COVID-19 on UCCS Financially

**LAST UPDATED 3/20/2020

General Information and Impacts of COVID-19 on UCCS Financially

***IMPORTANT UPDATE: As of today, March 19, 2020, no one should use the campus-wide Coronavirus Management ST.  Please use your individual departmental speed types for expenses related to this incident.  It is imperative that all expenses are also tracked and recorded on the tracking spreadsheet (please see below).  These tracking spreadsheets must be emailed to Carolyn Rupp and Suzanne Scott every Friday.

When processing JEs and/or BJEs related to COVID19, please make sure to notate this on the JE/BJE and substantiate why this expense is related to this incident. 

We will update this website as this situation evolves and instructions change.  We recommend that you visit this site regularly for udpates.

As always, if there are any questions, please do not hesitate to contact us.

 3/15/2020 important update: 

The campus has limited cash reserves to put toward emergency costs related to COVID-19.  Schools, colleges and departments should look first to their own reserves to cover additional costs, sunk costs, or revenue losses.

The campus will provide additional, emergency funding but will prioritize emergency needs for areas without sufficient reserves based on the following priorities:

  1. Preventive and responsive measures to protect health and life safety of campus community (required vs. voluntary measures, housing and feeding students)
  2. Maintenance and continuity of essential campus services, specifically those that serve the educational and research mission
  3. Financial hardship for individual students or employees affected by COVID-19

Reconciliation of deficits and funding needs will be done closer to the end of the fiscal year, to ensure we prioritize the highest needs first. 

3/19/2020 important updates: 

Track expenses related to COVID-19 that are above and beyond “normal” business.  Documentation must be included that substantiates the purpose for the expense and how it relates to COVID-19.  The Controller’s Office will review all charges weekly for appropriateness.

We have composed a tracking spreadsheet that outlines the required information:

Download the Tracking spreadsheet here 

  • Attach this documentation as well as the spreadsheet with the appropriate information we are requesting.
  • These costs are not guaranteed to be reimbursed.
  • If buying supplies, keep an inventory of those supplies. 
  • All costs should be related to the specific emergency and not saved for future use.
  • For journaling expenses, please use COVID-19 as the prefix to your journal number.
  • For Concur, use the business purpose to identify any expenses related to COVID-19.
  • For Marketplace please use any user-defined file to identify COVID-19 related expense

General Guidelines

Please refer to this guidance for how to handle both general university expenses and sponsored projects expenditures.

-     Any unavoidable costs due to COVID-19 are allowable as university expenses on all appropriate general, auxiliary, and restricted speedtypes. These include costs such as travel and lodging cancellation fees.

-       Even if an expense is unavoidable, it may not be allowable on a sponsored project if the project doesn’t benefit from the expense.  An example would be if a conference paid for on a project is cancelled.  If the cost isn’t refunded or only partially refunded, then that expense will need to be moved onto a non-sponsored research speedtype.

-       Any avoidable costs incurred out of caution to avoid activities that might expose personnel to COVID-19 are allowable on appropriate general, auxiliary, and gift speedtypes; however, these costs aren’t allowable on sponsored research projects without approval from the sponsor.  Examples include additional travel expenses incurred to avoid layovers in countries with a higher risk of COVID-19 per the CDC, or choosing to avoid conferences that haven’t been cancelled.

-     The UCCS Controller’s Office is following this guidance for sponsored projects in the absence of any specific guidance from sponsors.  Departments will want to check if specific sponsor guidance is available or reach out to their Sponsored Projects Accountant in order to determine what COVID-19 related expenses are allowable on their sponsored projects.

We encourage you to revisit this site frequently for additional updates or changes. 

-     The UCCS Controller’s Office is following this guidance for sponsored projects in the absence of any specific guidance from sponsors.  Departments will want to check if specific sponsor guidance is available or reach out to their Sponsored Projects Accountant in order to determine what COVID-19 related expenses are allowable on their sponsored projects.

We encourage you to revisit this site frequently for additional updates or changes.