Research Grants Management: Financial Responsibilities and Tools
This comprehensive guide delves into the financial aspects of managing research grants: from pre-award processes to post-award responsibilities. Explore the roles of Research Grant Services (RGS) and Principal Investigators (PI), along with essential tools like Webfirst reports. Understand the critical tasks such as setting up projects in the finance system, liaising with funders, and ensuring compliance with terms and conditions. Dive into detailed transaction reports, financial reporting requirements, and tips for successful grant management.
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Presentation Transcript
Research Grants FINANCE Grants Management 21ST January 2015 AthenaSwan GrantsManagement Jennifer McCluskey Research LiaisonManager
FINANCE Grants Management 21st January 2015 Research Grants Research Grants - Context 24 Staff (22.6 fte) 200m Research Income 4000+ Research Grants More than 350 Funders 22 Schools Over 750 Principal Investigators
FINANCE Grants Management 21st January 2015 Research Grants When do RGS get involved Pre-Award Awarded (ERI) Post-Award Research Grants Department Pre-Award Possible Funders Pre-Award Application (ERI) Pre-Award PI Idea INFINITE
FINANCE Grants Management 21st January 2015 Research Grants RGS Responsibilities Set up project on Finance System, allocate R number Monitor live grants, 6 month review Recover income from the funding body per the T&C s Complete and sign off any financial reporting required liaise with school. Liaise with funders with regards to any finance issues. Charge the Directly Allocated cost to the grant Apportionment Journal Close the grant on e-financials
FINANCE Grants Management 21st January 2015 Research Grants PI Responsibilities Know the funders t&c s / agreement conditions Ensure you spend the awarded funds (with reference to your application and terms and conditions) Ensure any scientific/final reports are completed with deadlines Ensuring you have means to cover any overspend in your grant
FINANCE Grants Management 21st January 2015 Research Grants Tools Post Award Webfirst reports Local School Admin Sponsor Website/Documentation Research Grants Department
FINANCE Grants Management 21st January 2015 Research Grants Webfirst Common Reports Detailed Transaction Report (gives transaction details within a given month) (Under Transactions) Multiple Period Detailed Transaction by account (gives transaction details over a period of time ordered by account) Actual Expenditure plus Commitments (Under Account Balances) Some reports can be done over a range of cost centres and awards All Webfirst reports can be downloaded into Excel so you can manipulate the information further
FINANCE Grants Management 21st January 2015 Research Grants Directly Allocated Costs Indirects & Estates a rate based charge which is chargeable per academic per the FTE on the grant. PI/Co-I time charge based on that academics salary. DA costs CANNOT be vired they are ring fenced Generates income back into the University that ensures future sustainability
FINANCE Grants Management 21st January 2015 Research Grants Common Pitfalls Overspending (Total & Annual budgets) Underspends Extensions Maternity Illness Non-Completion of final reports
FINANCE Grants Management 21st January 2015 Research Grants Scenario 1 You have a grant with Cancer Research UK You have an RA on the grant that is about to go on maternity leave You are only 1 year into a 3 year research project What might you need to consider to ensure you deliver your research?
FINANCE Grants Management 21st January 2015 Research Grants Scenario 2 You have a Research Council grant (MRC/BBSRC etc) There has been a delay with your research You need more time! What might you to consider to ensure your deliver your research?
FINANCE Grants Management 21st January 2015 Research Grants Scenario 3 You have a grant that is paid on the basis of annual budgets. You overspend in Year 1, which RGS inform you of To ensure we can claim for the full costs of year 1 what might you need to do?
FINANCE Grants Management 21st January 2015 Research Grants Any Questions?
