Sponsored Program Accounting: Post-Award Grant Administration Overview
Functions of Sponsored Program Accounting include post-award administration of grants and contracts, processing expenditures, ensuring compliance with regulations, effort certification, audit coordination, and financial reporting. The life cycle of a grant involves continuation, competitive renewal, financial expenditure reporting, billing, and close-out. Activities such as AU set-up, review processes, attribute assignment, and AU creation are crucial in managing grants effectively.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Post-Award Grant Administration Presented by: Sponsored Program Accounting Updated: Fiscal Year 2019
Overview Functions of Sponsored Program Accounting Life Cycle of a Grant (Post-Award) Proactive Approach to Managing Grants & Contracts Questions and Answers
Functions of Sponsored Program Accounting Post-award administration of grants and contracts (5xxxxx) Gift Accounts (2XXXXX), Research Stim (103xxx), Research Incentive (1037xx, 1047xx), Faculty Startup (1048xx), Health Disparities (107xxx-107030) & CHOIR (1071xx-107130) AU set-up, billing and collection, financial reporting, close-out Processing of expenditures (salary and non-salary) Ensure compliance with OMB Circulars A-21, A-110 & A-133, & Uniform Guidance Sub-recipient monitoring Effort certification for Lakeside Campus Submission and negotiation of FB rates & F&A rates Survey completion / federal data collection Annual audit coordination: single audit & program-specific
Life Cycle of a Grant Continuation Post or Award Competitive AU Setup Renewal Stages in Grant Administration (Post-Award) Financial Expenditure Report Processing AU Billing and Close-out Collection
AU Set Up Post Award PI & PI s Department SPA Review AU set-up package received from pre-award offices Update SPA Hub tracker regarding set-up status Assign attributes and create AU in Lawson Email notification of new AU number and grant materials Signature Form Obtaining Access link Post Award resource link Ensure ORS has an executed copy of the notice of award Prepare the post-award budget with ORS Continuation or Competitive Renewal Post Award AU Setup Financial Report Expenditure Processing AU Billing and Collection Close-out
AU Set Up Pre Award PI & PI s Department SPA Review AAAF & AU set-up Review correspondence from sponsor Monitor spending levels Extension of 90 day guarantee period Update AU attributes once award received Complete the Advanced Account Authorization Form (AAAF) Guarantee AU Approval Requirements Submission to ORS Follow-up with sponsor on status of executed agreement Absorb any expenses incurred if the grant does not come through Continuation or Competitive Renewal Post Award AU Setup Financial Report Expenditure Processing AU Billing and Collection Close-out
Expenditure Processing Basic Costs Considerations Allowable Allocable assignable, direct benefit Reasonable prudent person test Consistent direct vs. indirect expense Continuation or Competitive Renewal Post Award AU Setup Financial Report Expenditure Processing AU Billing and Collection Close-out
Expenditure Processing PI & PI s Department SPA Submission of payroll forms for salary expenses Initiate check requisitions, expense reimbursements, pro- card transactions, POs, etc. Monthly review of all charges Preparation of cost transfer forms Re-budgeting requests Timely submission of cost share supporting documentation, where applicable Review payroll forms and process retroactive adjustments Review non-salary expenses Email monthly reports Process cost transfers & re- budgets Continuation or Competitive Renewal Post Award AU Setup Financial Report Expenditure Processing AU Billing and Collection Close-out
Billing and Collection PI & PI s Department SPA Preparation of invoices Payment Type Expenses in General Ledger Drawdown of federal funds (NIH, NSF, DOED, etc.) Follow-up on aging invoices and outstanding scheduled payments Review charges monthly to avoid incorrect billing Completion of required progress/scientific reports Preparation of invoices for clinical trials Continuation or Competitive Renewal Post Award AU Setup Financial Report Expenditure Processing AU Billing and Collection Close-out
AU Close-Out PI & PI s Department SPA Final review of expenditures Submission of payroll forms to stop salary charges Preparation of cost transfer forms for non-salary costs Clear commitments / POs Resolution of overdraft or unused funds NCE / Continuation Funding Coordinate extension with ORS Submit AAAF Review grant closeout departmental checklist for additional project sunset guidelines Email notification of approaching end dates Important closeout notifications and reminders are included and linked Final review of charges on grant to ensure compliance Process salary adjustments and non-salary cost transfers Refund unspent funds Continuation or Competitive Renewal Post Award AU Setup Financial Report Expenditure Processing AU Billing and Collection Close-out
Reporting Requirements PI & PI s Department SPA Completion of scientific and technical reports, invention statements and other programmatic reports Preparation of carryover request (if approval required) Carryover Letter Carryover Budget Preparation of ALL financial reports Federal Financial Report (FFR) Award-specific Quarterly cash reconciliation Report of Expenditures Audit Requirements Program-specific Single Audit Continuation or Competitive Renewal Post Award AU Setup Financial Report Expenditure Processing AU Billing and Collection Close-out
Proactive Approach to Managing Grants Set-up pre-award AUs and continuous follow-up on award notice Review monthly expenditure reports and communicate corrections to SPA as soon as possible Timely revision of payroll forms to avoid overdraft, out-of-period expenses and late cost transfers over 90 days Watch for grant end dates (continuation, AAAF or close-outs) Close all AUs that have ended, are fully spent or are not needed
SPA Website SPA Website https://luc.edu/spa/index.shtml About US FAQ DS2 Disclosure Statement Organization Chart Training Materials & Guides Policies and Procedures Resources Forms Rates Key Contacts OMB Circulars: A-21, A-110, A-133 & Uniform Guidance Obtaining Access links Pre-award Office links
