When do I find out that my application is approved or declined for funding?
Once the MSFT committee has finalized recommended allocation amounts, the funding recommendations are sent to Division of Business and Financial Affairs (BFA) for review and finalized by the Provost. Afterward, a formal notification is sent out to MSFT applicants who have been awarded amounts and who have been declined funding.
When can I begin to spend my fund allocation and are there any restrictions to spending on my MSFT amount?
A formal notification is sent out letting the applicant(s) know that the MSFT application has been approved for funding. Spending against the allocation can begin once formal approval has been received. The formal notification also includes additional information on updates and/or changes to allocation amounts, spending, and budget as well as next steps in the MSFT process.
Funds provided by the MSFT committee may only be used for the purposes described in the application for the AY indicated. Substantial changes in the use of MSFT funds require the prior approval of the committee. Unused fund balances will be returned to the MSFT account at the end of the fiscal year.
Who do I go to spend on my MSFT allocation?
Day to day details for MSFT allocations fall with the applicant(s) & assigned program or department/unit; the applicant(s) & assigned program or department/unit are responsible for keeping track of the progress and budgetary expenses of the respective MSFT allocation.
Can I request a modification to my current MSFT allocation?
If there are extenuating circumstances which require a modification to a MSFT allocation, the MSFT committee will need to approve the request. Once approved, spending can occur.
Can I request to extend my MSFT allocation beyond June end?
If there are extenuating circumstances (such as materials arriving after June) which require an extension to “hold” your MSFT allocation after June end, a request will need to be sent to MSFTServices@csuci.edu before May 1st so that the allocation amount is “reserved” and not returned to the MSFT account.
Can I spend my MSFT allocation the next AY?
MSFT allocations are available for spending once the budget for the specified AY has been formally approved and the applicant(s) have received the final MSFT notification to begin spending. Allocation amounts should be spent out during the specified AY. Any unused fund balances will be returned to the MSFT account at the end of the specified AY in order to be re-distributed and re-allocated for the next MSFT fund allocation cycle.
Spending on an allocation which has been returned to the MSFT account can have adverse affects on future AY allocations as well as budgetary projections for the next MSFT fund allocation cycle. A JET/RET will need to be completed to reverse the spending; these expenses should be applied to a non-MSFT accounting sequence.
If there are unique & extenuating circumstances which prevent spending within the specified AY, an explanation in email will need to be sent to MSFTServices@csuci.edu before May 1st of the specified AY so that the allocation amount is not returned to the MSFT pool for re-distribution and re-allocation into the next MSFT fund allocation cycle.