Embed Size (px)
Citation preview
Post Award Post Award WorkshopWorkshop
April 5, 2005April 5, 2005
RESEARCH ACCOUNTING STAFF 487-2244
Julie Seppala, Director
[email protected] Tony Dupuis, Senior Research Accountant
Federal Project Setup & Close-Out [email protected]
Thomas Holzberger, Research Accountant Industrial, REF, Faculty Development,
Project Setup & Close-Out [email protected]
Tammy LaBissoniere, Senior Research Accountant Federal Pass-Through & Foundation, State,
Project Setup & Close-Out [email protected]
Pamela Givens, Assistant Research Accountant Sponsored Billing, Purchase
Requisition Review [email protected]
Chris Gruver, Office & Account Assistant Karen Foltz, Office Assistant Expenditure Review Support Staff [email protected] [email protected]
Fiscal Responsibilities1. University Wide Responsibilities
Every university employee has a responsibility to ensure that the university’s funds are used to advance the mission of the university and the academic needs of the student.
Individuals have the responsibility of ensuring that all authorizations or expenditures comply with university expenditure policies as well as with any sponsoring agency or donor restrictions and applicable policies.
Fiscal Responsibilities1. University Wide Responsibilities
A good rule of thumb is to always consider the appropriateness of the expenditure. Should the expense be paid from public funds?
Fiscal controls must include a system of supervisor checks and balances at all levels of the organization for all expenditures. The reviewing of the monthly account statements and payroll reports for accuracy is one example of a check and balance. The Accounting Services Department is always available for consultation.
Fiscal Responsibilities2. Principal Investigator Responsibilities
Assurance of appropriateness, reasonableness, timeliness and allowability of expenditures
Management of expenditures within start and end dates, not to exceed award amount
Initiation of requests for re-budgeting and cost transfers
Preparation of technical reports and provision of other deliverables
Review of interim financial reports on a monthly basis
Fiscal Responsibilities2. Principal Investigator Responsibilities
Documenting of cost-share/matching funds if required
Review of employee effort reports (payroll certifications)
Timely final financial close out of projects Initiation of request for time extensions Other information is located at
http://www.admin.mtu.edu/research/sprot/responsilbiities.html
Award Process Flow ChartAward Process Flow Chart
RSP Receives the award
RSP contract/grantreviewer
PI must review and approveTerms & Conditions
RSP for processing
Authorized by University Official
Award Process Flow ChartAward Process Flow Chart
RSP
PI FinanceSets up an
Index #
Sponsor
PI Receives Index #
Coordinator ReceivesIndex #
Project Administration Flow ChartProject Administration Flow Chart
PI receives Index #Coordinator Receives
Index #
Do you need to pay someone?
Do you want to buy something?
1. Are there enough funds?2. Are the expenses within the start and end date?
Initiate payroll status And Distribution forms
to Payroll
Initiate PO/checkrequest/IB/travel
voucher/etc
Yes Yes
1. Are there enough funds?2. Are the expenses within the start and end date?
Yes
NO
STOP
Yes
NO
STOP
Project AdministrationProject AdministrationMonitoring Expenses & ProgressMonitoring Expenses & Progress
Principal InvestigatorReceives Report by Pool via email
Departmental CoordinatorReceives Detailed Report via email
Review Account Statements
Are corrections needed?
NO
YESInitiate Reallocation, Contact RA for advice, initiate IB for Credit
Card reallocations
Is there a modification required?
NO
Initiate a Request for Modification for to RSP
YES
Project AdministrationProject AdministrationMonitoring Expenses & ProgressMonitoring Expenses & Progress
NO
Are there Cost ShareExpenses to be
Processed?
Initiate Payroll Status Form,Purchase order or Check
Request
YES
Is your projectcomplete?
NO
Submit Technical Reports &Deliverables
Contact Research Accounting
YES
KEEP WORKING
NO
Reallocation of Expenditures
http://www.admin.mtu.edu/research/sprot/training/realloc_exp.pdf
The Principal Investigator of each index involved is required to sign the form.
All reallocations should be made within 90 days of the original charge. Additional signatures are required for reallocations 60 days after the original charge.
Any expenditure allocable to a particular sponsored project may not be shifted to other sponsored projects in order to meet deficiencies caused by overruns.
Reallocation of Expenditures
Due to the fact that closely related work may be supported by more than one funding source, the reallocation of expenditures from one source of funding to another may be allowable. Provided that:
1. The expenditure is an allowable charge
2. The initial charge could have been appropriately charged to the other project
3. The charge is represented in the approved budgets of both projects.
Reallocation of Expenditures
4. The reallocation explanation clearly explains why the charge is appropriate to either project.
The reallocation of expenditures form is located at: http://www.admin.mtu.edu/acct/pdf/ResearchAcct/
reallocation_of_expenditures.pdf
The payroll reallocation form is located at: http://www.admin.mtu.edu/acct/pdf/ResearchAcct/
Payroll_Reallocation_Form1.pdf
PROJECT CLOSEOUTPROJECT CLOSEOUT
http://www.admin.mtu.edu/research/sprot/http://www.admin.mtu.edu/research/sprot/ training/proj_closeout.pdtraining/proj_closeout.pdff The normal closeout period is 90 days, The normal closeout period is 90 days,
however, some projects require closeout as however, some projects require closeout as early as 30 days. ALL TECHNICAL early as 30 days. ALL TECHNICAL REPORT AND DELIVERABLES SHOULD REPORT AND DELIVERABLES SHOULD BE TURNED IN BY THIS DATE.BE TURNED IN BY THIS DATE.
For projects with a positive balance (non For projects with a positive balance (non firm fixed price) the PI must inform firm fixed price) the PI must inform Research Accounting what action to take.Research Accounting what action to take. If no advice is received within a few days of the If no advice is received within a few days of the
required close-out the budget will be reduced required close-out the budget will be reduced and the sponsor will not be billed in full, or funds and the sponsor will not be billed in full, or funds will be returned to the sponsor.will be returned to the sponsor.
PROJECT CLOSEOUTPROJECT CLOSEOUT
For Firm Fixed Price agreement with a For Firm Fixed Price agreement with a positive remaining balance the Transfer & positive remaining balance the Transfer & Close section of the Request for Close section of the Request for Modification form can be filled out to Modification form can be filled out to request that the balance be transferred to request that the balance be transferred to an unrestricted Research Account (i.e. an unrestricted Research Account (i.e. incentive account) The form is located at: incentive account) The form is located at: http://http://www.admin.mtu.edu/research/sprotwww.admin.mtu.edu/research/sprot/ forms// forms/req_mod.pdfreq_mod.pdf
For projects with a deficit balance the For projects with a deficit balance the following slides will indicate the action to be following slides will indicate the action to be taken.taken.
Expenditures Exceeding the Award Amount http://www.admin.mtu.edu/research/sprot/training/
exp_%20exceed_award.pdf
Research Accounting will inactivate the index so no further charges can occur (This does not stop payroll charges)
The PI needs to work closely with Research Accounting to correct deficits as soon as possible The PI should identify a non-sponsored account with
sufficient funds to cover the deficit
Expenditures Exceeding the Award Amount In the absence of specific advice within a few
days of the required close-out the deficit will be charged in the following manner:
1. 1st to the PI’s incentive account to the extent funds are available
2. Then to the Department’s incentive account to the extent funds are available
3. Then to the Dean’s incentive account
Special Fees & Use Charges:
Procedure Number 2.2001
Fabricated Equipment:
Procedure Number 2.12.10
Electronic Receipt of Account Statements
Questions and/or comments?
THANK YOU FOR ATTENDING
