Within Awards, there are three important fields that should be added to your Award Form for tracking an award amount:
- Total Expected Amount
- Obligated Amount
- Increment Amount
Click here to learn about adding fields to your forms.
Total Expected Amount
The total amount of money expected to come in over the lifetime of the award. If an award is broken up into multiple increments of funding, this is the total amount of money across all increments.
Obligated Amount
The amount of money that has been received by the institution. If there are multiple increments of funding, this is the total amount that has been received.
Increment Amount
The amount of money that is coming in at one time. If an award is broken up into multiple increments of funding, this is the amount that is received in one distribution.
You will only need this field if your award will be broken up into multiple increments.
Using Award Amounts in Sponsored Projects
The Total Expected Amount, Obligated Amount, and Increment amount may be the same for some awards. However, that may not always be the case.
When money for an award is not received in one distribution, it is strongly recommended that you create a new modification to the award once subsequent distributions of money are received. If this is the case, the Total Expected Amount will stay the same through the lifetime of the award. The Obligated Amount will increase as new money comes in. The Increment Amount will track how much was received each time new money comes in.
Please note: The Total Expected Amount and Obligated Amount are displayed in the Award Details summary header. The Increment amount will be visible on the Award Modification, and can be viewed by selecting Increment Amount from the Set View button on the Modifications table or Dashboard List.