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.
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