June 07, 2021
We are pleased to announce the launch of the multi-year labor encumbrance feature for externally sponsored research funds in Banner and Web*Finance beginning in July 2021 for FY’22. Multi-year labor encumbrances are a feature in Banner that allows labor (salary and fringe) to be encumbered through the budget period end date on an award. Currently, the system only calculates the encumbrance through June 30th of any fiscal year, regardless of the budget period end date on the award. As those of you in the research community are aware, externally sponsored grants do not always follow a fiscal year and can have an end date of any month in the calendar. Implementation of this feature will allow for improved financial administration of an externally funded award since your labor encumbrances will now match the corresponding budget period.