RAC recipient guide

Revised Fall 2022

Please note: The following steps must be completed by a department administrator or accountant with proper Banner authorization for administering budgets. PIs will not be able to complete these steps themselves.

Department Responsibilities

Depending on various deadlines, funds awarded in Spring calls for proposals may not be available until the beginning of a new funding cycle on the following July 1. Once transferred, the funds will be available to you for 18 months. Upon receiving notification of an Award from the Committee, the department of the PI who received the award will request a new Banner Activity Code using the Chart of Account (COA).

Requests Application

This can be found on the Financial Services Resources website, https://fssc.unm.edu/, under "Resources".

Log into the application using your NetID and password.
Select "COA" Requests
Select "New Activity"
Enter "Desired Activity Title" as follows:
- PI Last Name-RACxx
- Enter the PI's actual last name and replace "xx" with the last two digits of the year in which the award ends. For instance, if Professor Smith received a RAC award, and the award letter indicates the funds are available for an 18 month duration ending in 2020, the "Desired Activity Title" would be "Smith-RAC20"
Enter appropriate "Requestor Comments" such as "Professor Smith was awarded $5,000 by the Research Allocations Committee for his chemical research. New Activity Code needed for RAC index."
Submit Request
FSM will email the new activity code

Upon receiving notification from FSM

Upon receiving notification from FSM of the new Activity Code, log back into the COA Requests Application to request a new index for the RAC award.

Select "COA" Requests
Select "New Index"
Enter "Desired Index Title" as follows:
- PI Last Name/Department/RACxx
- Continuing the example above, if Professor Smith were in the Chemistry Department, the "Desired Index Title" would be "Smith/Chemistry-RAC20"
Enter 2U0005 for "Fund"
Enter P162 for "Program"
Enter the new activity code obtained from FSM for "Activity Code"
Enter appropriate "Requestor Comments" such as "Professor Smith was awarded $5,000 by the Research Allocations Committee for his chemical research."
Submit Request
FSM will email the new index number

Upon receiving an index number

Notify Office of the Secretary

Send written notification via email to the Office of the University Secretary at PGEgaHJlZj0ibWFpbHRvOmZzcmFjQHVubS5lZHUiPmZzcmFjQHVubS5lZHU8L2E+javascript required to view once the process has been completed. Please remember to include the index number.

Unrestricted Accounting

Also complete and send to Unrestricted Accounting a Signature Authorization Form for the new index. This form can be found on the Unrestricted Accounting -- Main Campus website: https://ua.unm.edu/ under "Forms"

Banner Journal Entry

Submit a Journal Entry (JV) in Banner to transfer funding and budget to the new index. Once completed please confirm the JV with the Office of the University Secretary at PGEgaHJlZj0ibWFpbHRvOmZzcmFjQHVubS5lZHUiPmZzcmFjQHVubS5lZHU8L2E+javascript required to view. This will be a 4-6 line entry:

JE2: 930011-1660 (Debit for amount of award per letter)
JE2: new index-1660 (Credit for amount of award per letter)
BD4: new index-1660 (“+” for amount of award per letter)
BD4: new index-8060 (“+” for amount of award per letter)

Breakdown by more appropriate expense account codes is desirable, if known.

BD4: 930011-1660 (“ – “ for amount of award per letter)
BD4: 930011-8060 (“ – “ for amount of award per letter)

Spending

Once the JV has been approved and posted, spending per the award letter may begin. Again, note that all spending is to be completed by the date noted in the award letter.

Unused balance

The department of the awarded faculty member is responsible for returning any unused balance to the funding index 930011 after the 18 month award period, and terminates the RAC index at that time. If the award has been overspent, the department must provide an unrestricted index to cover the overspent amount.