Award Fee

Use this subtask to select an award fee accrual method and enter a fee percentage or a fixed accrual amount. You can also view the award fee period and the contract award fee that was entered in the Award Fee subtask of the Enter Project Modifications screen (Projects\Transactions\Project).

Use this screen after you have established the award fee period and contract award fee in the Award Fee subtask of the Enter Project Modifications screen. You must select an accrual method before you compute revenue.

Field Descriptions

This field displays the modification number for this project.

This non-editable field displays the award fee description. This description is established in the Award Fee subtask of the Enter Project Modifications screen (Projects\Transactions\Project).

This non-editable field displays the fiscal year of the award fee period. The fiscal year of the award fee period is established in the Award Fee subtask of the Enter Project Modifications screen (Projects\Transactions\Project). The fiscal year in this field is both the beginning and the ending fiscal year, as award fee periods cannot cross fiscal years.

This non-editable field displays the starting period of the award fee period. The starting period for the award fee period is established in the Award Fee subtask of the Enter Project Modifications screen (Projects\Transactions\Project).

This non-editable field displays the starting subperiod of the award fee period. The starting subperiod for the award fee period is established in the Award Fee subtask of the Enter Project Modifications screen (Projects\Transactions\Project).

This non-editable field displays the ending period of the award fee period. The ending period for the award fee period is established in the Award Fee subtask of the Enter Project Modifications screen (Projects\Transactions\Project).

This non-editable field displays the ending subperiod of the award fee period. The ending subperiod for the award fee period is established in the Award Fee subtask of the Enter Project Modifications screen (Projects\Transactions\Project).

Use the drop-down box to select an accrual method for the award fee period. The valid options are as follows:

Percent of Costs – Use the percent of cost award fee accrual method if you want to base the award fee accrual on a percentage of allowable costs incurred. If you select this method, the award fee is accrued by performing org, as it is based on costs incurred. The amount of accrued award fee is limited by the total amount in the Contract Award Fee field for an award fee period. Any over-ceiling amount is recorded at the revenue level of the project using the owning org. You must enter a fee percentage in the AwardFee AccrualPct field to use this method.
Fixed Amount – Use the fixed amount award fee accrual method if you want to accrue the same amount for each period of the award fee period. The system automatically divides the amount in the Contract Award Fee column by the number of periods in the award fee period, and display this amount in the Award Fee AccrualAmount field. You can edit this amount if necessary.

Enter the percent of allowable costs that you want to accrue for the award fee period. This field will be available only if you have selected the “Percent of Costs” accrual method in the Accrual Method field. The system will compute the award fee by multiplying the fee percent entered in this field by the allowable costs at the transaction level.

You cannot enter a fee percent in excess of 100% or a negative percentage in this field.

This field displays the fixed amount calculated by dividing the total contract award fee by the number of periods in the award fee period. This field is available only if you selected the “Fixed Amount” method in the Accrual Method field. You can edit the amount displayed in this field.

This non-editable field displays the contract award fee. The contract award fee is established in the Award Fee subtask of the Enter Project Modifications screen (Projects\Transactions\Project). Any changes to the contract award fee must be made in that screen.

This field displays the amount of funded award fee for this award fee period.

This field displays the cumulative-to-date award fee accrued for the award fee period using actual rates (PROJ_SUM. AWARD_FEE_ACT_AMT less OVER_ACT_AWRD_AMT). This value cannot exceed the Contract Award Fee. This field is updated by the Compute Revenue process (Projects\Process\Revenue).

This field displays the cumulative-to-date award fee accrued for the award fee period using target rates (PROJ_SUM. AWARD_FEE_TGT_AMT less OVER_TGT_AWRD_AMT). This value cannot exceed the Contract Award Fee. This field is updated by the Compute Revenue process (Projects\Process\Revenue).