The Payment Management System (PMS) is a secure, online grants payment platform, which provides awarding agency and grant recipient customers with efficient grant and grant-like payments, cash management, and personal grant accounting, support services. PMS is widely used by NIH for most awards administered by NIH. PMS supports the entire financial assistance payment process for both the Awarding Agency and Awards Recipients in various areas.
Overruns/Over-the-Limit transactions (OLTs) prevent drawdowns from the Payment Management System. Timely reconciliation is especially important to ensure drawdowns occur as necessary. NIH reviews any awards drawing funds beyond 90 days of the award end date. These types of draws are subject to approval on an individual basis and must be accompanied with a detailed explanation for the late request.
Overruns/Over-the-Limit transactions (OLTs) must be cleared along with the submission of the Award Reconciliation and Review Tool (ART) and final FFR Packet 15 business days before the sponsored due date. All overruns/OLTs must be cleared on an interim basis at the time expenditures exceed the billing limits unless future funding is awarded and would meet the 90-day pre-award spending requirement, so expenditures are not incurred more than 90 days prior to the start of a new period.
If the award administrator does not properly clear overruns/OLTs to their school/department overrun speedtype within 60 days after the award end date, the Office of Finance, Grants and Contracts (FGC) has the authority to move these overrun/OLT items to the school/department overrun speedtype. This ensures the award is ready for full closeout, final invoicing and the preparation of the Final Financial Reports. Further, in the event the award administrator does not clear interim overruns/OLTs within a reasonable timeframe, FGC has the authority to move these overrun/OLT items to the school/department overrun speedtype to ensure that appropriate invoicing can be completed. FGC will notify the relevant Research Administration Services (RAS) unit and school business officer one week prior to moving the overrun/OLT item to the overrun speedtype to allow time for the overrun to cleared by the school/department, if desired.
Over-the-Limit (OLT): An OLT transaction occurs in Compass when an expense has exceeded the contract billing limit (award amount). If an expense, in total, exceeds the contract billing limit, the entire expense will go to OLT status in Compass. OLTs cannot be billed to the sponsor.
Overrun: Project/award expenses that exceed the awarded amount. Revenue will not be collected or recognized for amounts over the awarded amount or included in the final amount reported to the sponsor.