'Successfully Managing a Research Award' Managing Budgets and Reporting 27 th October 2011

FINANCE RESEARCH TEAM Team of 5 looking after approximately 400 live projects. James Allman – Manager Ian Bailey – (ISTM Hartshill) Anne Budgen – (EPSAM & ISTM Huxley) Carla Vardy - (PCHSc, Humanities) Tracy Armstrong - (Soc Sci)

ADMINISTRATION OF RESEARCH GRANTS Pre award stages Discuss proposed application with RI manager FEC costings prepared on PFACT system Salary costings to Finance for approval Enter costings onto application form Submit application to RI Director University submits application to funding body

ADMINISTRATION OF RESEARCH GRANTS Post award stages Offer letter/notification received by Research Services Research Services generates ERF form ERF form received by Finance Code notification form sent to PI and RI Manager Project is confirmed for operation

DISCUSS PROPOSED APPLICATION WITH RI MANAGER Directly Incurred costs Staff costs – Research Assistant, Technician, Fellow, visiting researcher Travel & subsistence Equipment (less than £50k) Consumables Books Survey Fees Publication costs Licences Recruitment & Advertising

DICSUSS PROPOSED APPLICATION WITH RI MANAGER Directly Allocated Costs Principle investigators time Co-investigators time Estates costs

DISCUSS PROPOSED APPLICATION WITH RI MANAGER Indirect Costs (Overheads) General office and laboratory consumables Secretarial Central and distributed services Cost of capital employed Note any unfunded balance covered from Indirect Costs Financial benefit to the University

DISCUSS PROPOSED APPLICATION WITH RI MANAGER Exceptional costs Project studentships Large equipment (more than £50k)

FINANCE INVOLVEMENT Pre-Award Check with Finance for VAT implications For all applications submitted via pFact, Finance will check the salary costings where salary costs >£50k Inflation rates Increment dates Grades and points Finance request a 2 DAY notice period for checking of a final pFact file

FINANCE INVOLVEMENT Post Award Act upon receipt of an ERF (External Funding Agreement Form) Allocate an “R” code & enter basic grant details into our database Set up the ledger codes – i.e. to allow you to spend from your grant Issue a “Code Notification Form” to PI & RI Manager

FINANCE INVOLVEMENT Post Award Load the budget into system Use an Automated Diary system to monitor the grant & to flag up important deadlines: Start certificate Claims due to be completed Raise invoices to the sponsor Financial statement deadlines - & for Research Council grants, PI Final Report deadlines to avoid any sanctions

FINANCE INVOLVEMENT Post Award Confirm to HR that funding for staff is available for new appointments or extensions Provide reports / guidance to PI’s / RI Managers upon request. Level of support depends on type of grant. Close grants down shortly after end dates Important note, for Research Council grants it is not permissible to incur expenditure on a grant after the end date (Keele may be required to return unspent funds to the sponsor)

FINANCE INVOLVEMENT Post Award Prepare any financial reports required Raise any claims / invoices required to the sponsor Liaise with sponsor regarding financial issues Provide support for project extension requests

DIFFERENT SPONSORS Variety of different sponsors, each have their own rules but key principals remain the same. Important to read terms and conditions very carefully EU grants – timesheets required, Keele has procedures in place to protect against £ $ fluctuations. University has services of Martin Pickard, a consultant specialising in EU funding.

AUDITS Individual grants can be subject to audits by the sponsor Grant sponsors can send in auditors to review a number of grants provided by that sponsor A selection of grants are reviewed each year by the University’s external auditors

How you can help Finance Pre award, allow time for costings (including salaries) to be checked Agree a profile of the budget of your grant once it has been awarded - & notify finance. Keep finance informed of any problems/delays to start dates/extensions etc on your grant – preferably copy in your finance contact on important s regarding the project administration. Spend as planned!

Any Questions????? Contact Details: Tel: (7)34389