The Office of Research Services The Office of Research Support Services 1 August 17, 2006 Closeout of Sponsored Project Funds Michael Hay Assistant Director, Post Award Office of Research Services ORS BROWN BAG

The Office of Research Services The Office of Research Support Services 2 August 17, 2006 Closeout of Sponsored Project Funds Agenda PI & Department responsibilities –Pre-closeout review –Adjustment period –Freeze/unfreeze grant requests ORS responsibilities –Unfreeze requests –Closeout review –Financial report Completion –Disabling accounts SPP # 2126 Interim & Final Financial Reports SPP # 2128 Account Close-out

The Office of Research Services The Office of Research Support Services 3 August 17, 2006 What Funds are Due to Close? Run a Ben 133.OG report Shows the BA what funds have budget end dates that are ending soon Also shows the Freeze Status and when the financial report is due to the sponsor

The Office of Research Services The Office of Research Support Services 4 August 17, ORG Report

The Office of Research Services The Office of Research Support Services 5 August 17, 2006 ORG Summary Report Located in WEBI Two helpful tabs: –Funds Frozen Froze in the last 30 days –Funds Freezing Will freeze in the next 90 days

The Office of Research Services The Office of Research Support Services 6 August 17, 2006 What is the Adjustment Period? Period of up to 60 days after Account end date –Allows for final review of project activity so adjustments can be made prior to final reporting 30/31 days: Account End Date + 15 days 45 days: Account End + 30 days 60/61 days: Account End + 30 days 90/91 days: Account End Date + 60 days

The Office of Research Services The Office of Research Support Services 7 August 17, 2006 Adjustment Period (cont.) –Review the following areas (cont.) Payroll – Any adjustments that may be needed must be made by the end of the adjustment period Service Centers – Were these handled appropriately Cost transfers over 90 days that were done without prior approval (wrong category used?) Other direct costs for allowability

The Office of Research Services The Office of Research Support Services 8 August 17, 2006 Adjustment Period (cont.) Run 134.ORG Report in BEN Financials or Fund Summary in Business Objects (WEBI) –Review the following areas PBUD/PBIL should be equal Revenue vs. Expense –Should be equal –If not, requires further review F&A and Employee Benefits (EB) – Were the correct rates appropriately applied?

The Office of Research Services The Office of Research Support Services 9 August 17, 2006 Final Review Prior to End of Adjustment Period Review NOGA for approved carryforward, if applicable Review subcontracts and respective closeouts Determine and address unliquidated and unobligated carryovers Communicate and confirm all expenses w/ PI Communicate with ORS Accountant All adjustments must be processed by end of the fund adjustment period –Complete all approved, allowable, allocable and appropriate adjustments identified during pre- closeout review

The Office of Research Services The Office of Research Support Services 10 August 17, 2006 Freeze/Unfreeze Grant Functionality

The Office of Research Services The Office of Research Support Services 11 August 17, 2006 Freeze Grants Functionality Tool that allows authorized research administrators and ORS to limit activity against an award –Can be used during life of project and during the adjustment period –Can reduce cost transfers and overruns after the end of the fund project period –Improve timeliness and accuracy of final financial reports

The Office of Research Services The Office of Research Support Services 12 August 17, 2006 Freeze Grants Features Awards are frozen/unfrozen at fund level –Payroll can be frozen manually prior to the Account End Date –Functionality frozen automatically after Account End Date New Purchase Orders/Requisitions –Functionalities frozen automatically after Adjustment Period End Date (APED) Manual Journal Entries C-forms Feeder Journal Entries Payroll

The Office of Research Services The Office of Research Support Services 13 August 17, 2006 Unfreeze Request

The Office of Research Services The Office of Research Support Services 14 August 17, 2006 Unfreeze Request (cont.)

The Office of Research Services The Office of Research Support Services 15 August 17, 2006 Unfreeze Grants (cont.) Submit your request to: –School of Medicine departments Send worksheet and details (including documentation) to Office of Research Services Support (ORSS) Grant Manager with a cc to ORS Accountant ORSS will review and, if approved, will forward to Research Services Accountant and cc Assistant Director –All other Schools Send worksheet and details to ORS Accountant and cc Assistant Director –Unfreeze requests are normally addressed within two business days

The Office of Research Services The Office of Research Support Services 16 August 17, 2006 Unfreeze Request (cont.) Are not necessary to: –Prepare budget journals –Pay already encumbered amounts on an existing P.O. –Unfreeze advance accounts (request an extension of advance account)

The Office of Research Services The Office of Research Support Services 17 August 17, 2006 ORS Responsibilities

The Office of Research Services The Office of Research Support Services 18 August 17, 2006 ORS Reporting Period Tasks Review Due Reports Report to determine if Financial Report is to be completed that month Report is run through WEBI and pulls information from PennERA and BEN to determine if a final report is due

The Office of Research Services The Office of Research Support Services 19 August 17, 2006 ORS Reporting Period Tasks (cont.)

The Office of Research Services The Office of Research Support Services 20 August 17, 2006 ORS Reporting Period Tasks (cont.) will be sent requesting closeout information should contain the following information: –Fund Number –PI Name –Award Amount –Current Balance –Deadline for response

The Office of Research Services The Office of Research Support Services 21 August 17, 2006 ORS Reporting Period Tasks (cont.)

The Office of Research Services The Office of Research Support Services 22 August 17, 2006 ORS Reporting Period Tasks (cont.) ORS Accountant reviews the following standard issues -Terms and conditions of award and sponsor reporting requirements –Review the 734 report in WEBI –Check PBUD/PBIL for accuracy –Reconcile EB’s, F&A and Cash –Allowability of Costs –Review 252 report for stale dated checks –Review Cost Transfer Report

The Office of Research Services The Office of Research Support Services 23 August 17, 2006 ORS Reporting Period Tasks (cont.)

The Office of Research Services The Office of Research Support Services 24 August 17, 2006 ORS Reporting Period Tasks (cont.) Review Revenue 4600, 4620, 4630, 478X, 4822, TIF, Program Income & Other Revenue Review remaining balances or deficits ORS will communicate any issues identified and request a response from the BA If the ORS Accountant does not receive a response regarding closeout the report will be issued and an will be sent stating what was reported to the sponsor.

The Office of Research Services The Office of Research Support Services 25 August 17, 2006 ORS Reporting Period Tasks (cont.) Overdrafts –ORS will contact department regarding resolution –If no response is received by report due date, fund will be reported up to award amount and ORS will process journal to transfer resources from departmental fund to grant fund to offset overdraft via object code 4822 SPP # 2129 Chargeback of Overdrafts and Disallowances

The Office of Research Services The Office of Research Support Services 26 August 17, 2006 ORS Reporting Period Tasks (cont.) Unexpended Balance –Will be reported to sponsor –Carryover will be processed and/or requested as appropriate –Residual cash will be remitted to sponsor according to agreement –Carryovers and/or unliquidated obligations will be determined and handled as appropriate

The Office of Research Services The Office of Research Support Services 27 August 17, 2006 ORS Reporting Period Tasks (cont.) Final Financial Status Report (FSR)/(FFR) Submission –Financial report will be issued by ORS no later than due date –A copy will be sent to department and a copy will be scanned into our imaging system (Acorde) –ORS will process any closing entries based upon final reports

The Office of Research Services The Office of Research Support Services 28 August 17, 2006 Disabling Funds How does a fund get Disabled? –ORS runs 717.RA report in BEN Financial weekly To identify funds that meet disable requirements –If the fund is eligible for disabling ORS checks “Enable” flag Enters date in BEN Financials

The Office of Research Services The Office of Research Support Services 29 August 17, 2006 Requirements to Disable Funds 1.Financial Report must be submitted if required- Last FIN Report Filed=Next FIN Report Due 2.FSRD and FSRI s/b posted reflecting Direct and Indirect Costs reported 3.PBIL=PBUD=FSRD+FSRI=Total Expenses reported and on the G/L 4.No Encumbrances can remain 5.Object Code 1220 Receivable must =0 6.Equipment in Object Code 183X/187X must be transferred to School Surrogate Accounts via an Object Code 4826 Equipment Transfer 7.BRIM (ORS billing system) is reconciled (requires ORS action) 8.All stale dated checks have been satisfactorily addressed

The Office of Research Services The Office of Research Support Services 30 August 17, 2006 Getting Assistance on Closeouts For financial matters: –Contact ORS accountant or Post- Award Assistant Director Regarding extensions, requests for budget or other modifications to agreement, or non-financial matters: –Contact your Contract Administrator

The Office of Research Services The Office of Research Support Services 31 August 17, 2006 Questions???