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My Proposal Was Funded….Now What?. Sponsored Programs: Award Process Overview. Presented by: David Paul Mary Vicuna-Howe. Overview. Introduction to OSP PI’s Role Regulations Financial Management Financial Assistance vs. Procurement. Basic Cost Principles Account Set-up - PowerPoint PPT Presentation
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Sponsored Programs: Award Process Overview
Presented by:David PaulMary Vicuna-Howe
MY PROPOSAL WAS FUNDED….NOW
WHAT?
Overview
1. Introduction to OSP2. PI’s Role3. Regulations4. Financial Management
5. Financial Assistance vs. Procurement
Basic Cost PrinciplesAccount Set-upIncurring ExpensesInvoicing/Reporting
Financial MonitoringTime & EffortAuditsCloseouts
Sponsored Programs
Cradle to Grave operations forExternally funded grants/contracts
CUSTOMER FOCUS
Compliance & Regulation
Support Research
PI Role
• Manage Technical aspects• Fulfill SOW objectives and timelines• Identify compliance requirements• Fiduciary responsibility • Coordinate with OSP
We can assist in many of these areas
We stay in contact with Sponsor
Regulations
• OMB A-21 (Cost Principles)• OMB A-110 (Administrative Guidelines)• Federal Acquisition Regulation (FAR)
Contracts• OMB A-133 (Audit)• State• University• Sponsor Specific Regulations
FINANCIAL MANAGEMENT
Basic Cost Principles (A-21)
Allowable
Allocable
Reasonable
Consistent
Account Set-Up
Getting an Account Established1. Receive award2. SRA reviews budget3. Enter into financial system
Timeline: 2-3 days
Notification from SRA
Start Spending
Incurring ExpensesHow do I start spending on my account?
1. Salaries: Prepare PAF forms2. Travel: Reimbursed through a TD (travel document)3. Supplies (Operations): Get a P-Card at4. http://purchasing.unlv.edu/pcard/
forms_instructions.html 5. Sub-awards: Process a PV (payment voucher) when invoices
are received6. Equipment: Utilize MUNIS to enter requisitions
Things to consider:
7. Expenditures should be line with your budget categories8. Expenditures must be incurred within the project period9. Your expenses should not exceed your budget
Invoicing & ReportingInvoicing OSP prepares the invoices Various types of invoices
1. Cost-Reimbursement vs. Fixed-Price2. Scheduled invoices3. Invoice based on deliverables
Frequency depends on award terms Balance Activity Reports (BAR’s) are used
to help prepare invoices
Reporting Financial and Technical Financial reports are prepared by OSP Technical reports are prepared by the PI Frequency depends on award terms
Financial Monitoring PI’s should monitor their accounts on a regular basis Get access to your accounts on the data warehouse:
https://sysapps.unlv.edu/SecurityWebForms/SysAppsPageFrame.htm Review for errors and make adjustments in a timely manner Contact your Sr. Accountant if you require a budget
adjustment or need to do a cost transfer OSP reviews monthly activity for invoicing purposes and for
outstanding payments
** Both expenses and payments can bereviewed in the data warehouse.
Time & Effort Federal Requirement: OMB Circular A-21
Effort Reports are subject to Audit
Reports are ‘After-the-Fact’ confirmation of how an employee spent their time
Generated on a quarterly basis and initially based on payroll information
Review and make changes if necessary
PI or someone with ‘first-hand’ knowledge must sign
Total effort must equal 100%
**Return signed reports to Angie Keune at MS 1055
AuditsVarious types of Audits
1. External: University is subject to A-133 Audit2. Internal: NSHE and Campus Audit3. Sponsor: (NSF, NIH, State of NV, etc.)
Methods of Audit4. On-Site5. Desk Review
Scope of Audit6. Programmatic7. Financial8. Both
Document Retention for Audits9. Important to keep back-up and documentation10. Many awards are auditable up to 3 years after the date of submission of
the final report
** Please notify us if you are contacted regarding an audit of your award!
Closeouts Financial Reports
• Make sure account reconciled Technical Reports Patent Reports Equipment Reports Sub-recipient
Reports
STILL OBLIGATIONS
Financial Assistance vs. Procurement
Financial AssistanceGrants and Cooperative Agreements
Public Benefit Scientific autonomy – Grants Significant input - Cooperative Agreements Flexibility available
ProcurementContracts and Agreements
Specific benefit to sponsor Strict SOW with no deviation unless approved via modification Very strict
Closing Remarks
Resources• Website• Accountant
Please Call!! That’s Why we’re here
PI Role• Technical Obligations• Deliverables• Financial Monitoring
Questions?