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Principal Investigator |
Office of Sponsored Projects |
Division/Department |
Extramural Funds Accounting Office |
1. |
Financial management and reporting requirements (including cost sharing) |
- Reviews monthly financial reports and expenditure detail for accuracy.
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- Reviews award terms for financial requirements.
- Works with EMF to ensure compliance with any special billing and/or reporting requirements.
- Tracks any committed cost sharing identified on the award notice. Submits, no less than annually, a cost share report to EMF.
- Reviews, manages, and reconciles all financial transactions and activity on each award.
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- Identifies, interprets, and manages processing of award's invoicing and financial reporting requirements.
- Coordinates with campus units and implements processes to ensure compliance with financial requirements on extramural awards.
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2. |
Multi-Campus Awards (MCAs) |
- PI requests any necessary budget revisions.
- Reviews and signs the Request to Issue (RTI) form.
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- OSP initiates MCA, sends Request to Issue form for PI and RA to sign.
- Sends the completed MCA to other campus and copies EMF and RA.
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- Reviews and signs the Request to Issue form.
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- EMF adjusts the award budget to reflect the MCA awarded amount; reimburses the recipient campus through the systemwide financial control accounts.
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3. |
General operational roles |
- Manages the scientific integrity, programmatic activity, and oversight of financial activity for the sponsored project; adherence to all internal university and sponsor policies and compliance requirements.
- Reviews monthly financial reports for accuracy.
- Certifies effort reporting is accurate.
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- Liaises between PI and funding agency regarding matters affecting the award's terms and conditions.
- Interprets award terms and conditions, allowability, and other relevant policies.
- May contact sponsor for guidance and/or consult with EMF.
- Reviews reporting/invoicing requirements and works with division/EMF if changes need to be made.
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- Verifies that expenditures are allowable according to an award's terms and conditions, other sponsor's requirements and state or federal policies.
- Provides the PI with regular financial reports.
- Reviews and manages financial activity and regular reconciliation on each award.
- Works with EMF to ensure compliance with any special billing and/or reporting requirements.
- Tracks any committed cost sharing identified on the award notice. Submits, no less than annually, a cost share report to EMF.
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- Ultimate authority for appropriating and recording extramural funds transactions as part of the university's budget.
- Certifies all expenses charged against extramural funds as necessary and appropriate on all invoices and financial reports. Has final authority on the allowability of an expense charged to an award.
- Provides the required training on direct costing and transfers of expense policies and procedures to staff needing access to the XECG rule code.
- Will coordinate any special invoicing, expense tracking and reporting with divisional RAs. EMF is the default coordinator and submitter of invoices and other required back-up documents such as progress reports and ledgers.
- Provides the divisional RAs interpretations regarding financial and allowability issues. May contact sponsor for guidance and/or consult OSP. Has final authority on the allowability of an expense charged to an award.
- Prepares invoices and certified financial reports for awards as per the award's terms and conditions; performs and monitors collection efforts; maintains balance sheets associated with each fund.
- Identifies and interprets award's invoicing and financial reporting requirements. Notifies OSP of any issues.
- Coordinates with campus units and implements processes to ensure compliance with financial requirements on extramural awards.
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4.
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Changes to the award |
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- Negotiates any changes with sponsor.
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4a. |
Prior approval process |
- Sponsor approval may be required prior to certain expenditures, depending on award terms.
- If approval is required, PI will submit request and justification to OSP.
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- OSP will submit request to sponsor once determination is made that sponsor approval is necessary; will follow-through and provide regular updates as to the status of the request.
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- RA will often determine if prior approval necessary and inform PI and OSP.
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4b. |
Rebudgeting |
- PI reviews and provides revised budget details and justification, as well as any related revisions to the project's scope or personnel due to the budget change.
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- Reviews to determine if a formal rebudget is needed.
- If so, works with the PI and divisional/departmental staff to prepare the revision, justification, and any related cost-sharing before submitting the request to the sponsor.
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- Works with PI and OSP to draft a revised budget (or verifies OSP rebudget); routes to PI for justification.
- If the revised budget is very different from the original, the RA will ask PI to if there has been a change in the scope of work.
- Forwards revised cost estimates to OSP for submission to sponsor.
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- After review of OSP's rebudgeting notification, the revised budget is entered in FIS.
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4c. |
No-Cost Time Extension (NCE) |
- If there is ongoing work required on a project, PI submits request to OSP with a justification for the extension. If required, PI submits a budget for how the remaining funds will be expended.
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- OSP receives request from the PI and financial information from the RA. After review OSP, issues an NCE Notification (EDP).
- If sponsor approval is required, OSP submits the request to the sponsor. If approved, OSP issues extension.
- If under expanded authority and no further sponsor approval is needed, OSP issues extension.
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- RA queries PI 90 days prior to the end date of the award if an extension is to be requested. If so, the RA provides estimate of the unobligated balance at the end of the award to be carried forward into extension period.
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- After review of OSP's NCE notification, the end date is appropriately extended in FIS.
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4d. |
Other modifications |
- If other changes are needed that need approval by the sponsor (such as changes in key personnel, early termination, etc.), PI prepares request and relevant justification.
- Works with OSP to submit to sponsor.
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- Reviews modification request and submits to sponsor.
- Issues revised award notice if approved.
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- Works with PI to draft justification for modification, as needed.
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5. |
Subrecipient monitoring |
- Ensures that subrecipient's financial progress is aligned with technical progress.
- Requests and reviews subrecipient technical reports for incorporation.
- If technical progress is satisfactory, signs invoices and forwards for payment.
- Ensures subrecipient is meeting cost-sharing commitment and providing reporting, as applicable.
- Works with OSP to adjust terms if subrecipient is not performing.
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- Reviews risk assessment and compliance requirements annually.
- Issues funding increments.
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- Reviews and processes invoices.
- Ensures cost-sharing is accurately reported and tracked.
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6. |
Transferring an award to another institution |
- Works with sponsor contacts to ensure that transfer is feasible.
- Authorizes final expenses and actions on the award, including any reporting requirements.
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- Works with sponsor to fulfill necessary requirements to terminate the award with the campus so that the sponsor can issue the award to another institution.
- Receives from EMF a final report determining the remaining balance on the award.
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- Works with EMF to prepare a final financial report of the award's remaining balance, and reconcile any final expenditures prior to transfer.
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- EMF works with the divisional RA to prepare a final financial report of the award's remaining balance.
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