Final Reporting Process Presenter: Kris Cain Manager, Reporting Division 812/

Highlights: ◦ Departmental Notifications  Preparing for project closeout  Timing of ORA notifications  Recipients  Information provided  Actions required ◦ Account Close

Types of Notifications 90-day Account Expiration Notice Notification at Expiration Final Report Preparation Notice Final Report Notification

90-Day Account Expiration Notice (NEON) ◦ Delivered days prior to account expiration ◦ Provides guidelines for account review ◦ Delivered to:  Fiscal Officer / Account Delegate / Project Director – (future) ◦ Info Provided:  Account #  Account Title  Project Director  Account Expiration Date 1 st alert to begin preparing account for final reporting

Is your house in order?  Review balances  Large balances – Were charges applied elsewhere?  Overdrafts – If all costs applicable, notify ORA with a departmental account to cover OD  Cost share – Will the project meet the obligation?  Review effort  Run labor reports and ensure personnel/effort is reflected correctly  Review & resolve expenses outside grant period  Ensure that the agency allows for 90-day pre-award costs  Prepare to move salaries that post after expiration quickly  Review encumbrances  Close old encumbrances  Contact vendors if payment not yet appearing  Review Practice Plan payments  Review subcontracts  Proper allocation (object code review)  Check on late billings

Notification at Expiration ◦ For accounts with agency-required reporting ◦ expiration date of account ◦ Delivered to:  Fiscal Officer/Account Delegate / Project Director – (future) ◦ Info Provided: (attached excel file)  Account #  Expiration Date  Project Director  Agency Name  Grant #  Budget Balance (award budget – actual expense)  Report Due Date  Account Delegate  Financial Analyst & 2nd alert! Account is expired, all corrections must be resolved soon.

Final Report Preparation Notice Sent by first 5 business days of the month the financial report is to be prepared Alerts department of date all transactions must be finalized ◦ Including all expenses outside grant period that need to be moved off ◦ Overdraft resolution Failure to respond does not delay report submission After preparation, report is submitted to agency, copy to FO and PI ◦ Report no longer sent to departments to pre-review Delivered to: ◦ Fiscal Officer / Account Delegate / Project Director Info Provided: ◦ Account # ◦ Date report due at agency ◦ Date final KFS documents must be posted Anything posted after this date will not be included

Key points to remember on 3 rd notice:  Anything posted after this date will not be included in the report to the agency  This is the last opportunity to make corrections!  Any unresolved issues will be addressed by ORA via a TF to the departmental continuation acct.  The account will be reviewed, report will be prepared/submitted to the agency.  Reports are no longer sent to departments for review prior to submission.

Final Report Notification notification Accompanied by a copy of the final report that was submitted to the agency Delivered to: ◦ Fiscal Officer / Account Delegate / Project Director Info Provided: ◦ Account # ◦ Final reported amount ◦ Agency refund amount (if applicable) ◦ Overdraft amount (if applicable) NO CHANGES CAN BE MADE AT THIS TIME

Account Close Following report submission: ◦ Budget will be aligned with final reported amount ◦ Encumbrances will be closed ◦ Remaining unallowable expenses will be resolved by ORA via a TF utilizing the dept. continuation.  Overdrafts  Effort  Unallowable expenses  Expense outside grant time period Account is closed

Examples of notice sequences - Agency report deadlines may very with each agreement (sample account with an expiration date of 12/31/14) Sample Agency 90 – Day Neon Expiration Notice Final Report Notice Final KFS Post Date Final Report Preparation Report Due Date Riley 30 day grace 10/10/1412/31/141/1/15/- 1/5/15 1/14/151/15/15- 1/31/15 1/31/15 State – High Education 60 day grace 10/10/1412/31/142/1/15 – 2/5/15 2/14/152/15/15 – 2/28/15 2/28/15 NIH – 90 day grace 10/10/1412/31/143/1/15/- 3/5/15 3/14/153/15/15 – 3/31/15 3/31/15

Recap 90-day Account Expiration Notice ◦ Review grant activity closely Notification at Expiration  Expenses outside grant period  Ineligible expense  Overdrafts  Confirm effort  Subcontract payments Final Report Preparation Notice ◦ Pay attention to the “final post date” ◦ This is the last opportunity to make corrections Final Report Notification ◦ Remaining issues are resolved with a TF to departmental continuation Account Closed

How has process aided submissions?

Questions?

Questions & Additional Training Kris Cain Manager, Financial Division Office of Research Administration Indiana University 509 E. 3rd Street Bloomington, IN Telephone (812) Fax (812)