Final Reporting Process Presenter: Kris Cain Manager, Reporting Division 812/856-3028.

Slides:



Advertisements
Similar presentations
Purchasing Overview This card is only for orders under $5000. $5000 and above will be processed by Materiel Management. All procurement regulations.
Advertisements

Procurement Card *Accounting and Auditing* Charlie Sinex Accounts Payable Manager CATS Presentation August 15, 2007.
Grant Closeout and the Federal Financial Report Grants Technical Assistance Workshop October 12-13, 2010 Kelly Long and Jamie King Department of Health.
Presentation Author, 2006 GRANTS BATO Facts and Snacks December 16, 2010.
Salary Cap.  Salary cap is the difference between what is charged and the cap which is allowed by NIH Example (FY): PI Salary: $250,000NIH Cap (2011):
Office of Research Administration College of Engineering Meeting Monday, December 9,
Effort Certification in the Kuali Financial System Office of Research Administration Indiana University 509 E. 3rd Street Bloomington, IN January.
THE OFFICE OF SPONSORED PROJECTS Closeouts. Agenda The Office of Sponsored Projects (OSP) Grant Life Cycle Common Reporting Requirements and Timelines.
Grant Closeouts presented by Jessica Rosen Prepared by Terry Shoebotham, CPA Business Management Specialist In collaboration with: HSC Contract & Grant.
The Office of Research Services The Office of Research Support Services 1 August 17, 2006 Closeout of Sponsored Project Funds Michael Hay Assistant Director,
Cost Transfers Division of Financial Services – Sponsored Programs March 2014.
Managing Your Grant: A Roadmap to the Finish Line Carol Gelormine Manager of Grant Accounting Division of Finance & Treasury Catherine Bruno Post-Award.
SPS Open Forum: The new OMB circular and grant/contract close-out.
Presented by: Reva Rogers, Manager Post Award, Research Services Slides developed by Beth Longbotham and Jon Bannis, Research Services.
Grant Financial Management Post Award Sponsored Projects Training Program1.
Oregon Health & Science University Sponsored Projects Administration Closeouts John Caruso, Education Coordinator Sponsored Projects Administration.
Project Management: Post Award Policies, Procedures and Guidelines A Tutorial for New Principal Investigators.
Post Award MUHAS, Dartmouth, UCSF Financial Reporting & Closeouts Tuesday October 21, 2014.
Effort Certification in the Kuali Financial System Office of Research Administration Indiana University 509 E. 3rd Street Bloomington, IN January.
Grant and Contract Deficit Resolution Procedures The following operating procedures for Grant and Contract budgets are intended to complement and supplement.
Year-End Closing of the Books Fiscal Year Dates to Remember: June 30 Last day of FY14 July 8 Period 12 closes at 5:00 p.m. July 15 FY14 campus Banner.
Health Center Planning Grants: An Overview of Final Reporting Requirements & Grants Close Out Avni Shridharani, MHS Senior Advisor Bureau of Primary Health.
Office of Grants & Contracts Accounting (OGCA) Financial Status Reporting (FSR) & Final Invoices using the Award Reconciliation & Review Tool (ARRT) 1.
Basic Financial Reporting Carol A. Langguth Division Director Duane Alphs Team Leader Awards Management Division Office of Grants & Financial Management.
Contracts and Grants Accounting C&G Training Presentation Award Closeout Procedures Effective July 1, 2014.
Indiana University East March 10, 2009 Teresa Miller, Manager Office of Research Administration – Grant Services.
Department Administrator Session #5 – June 19 th 2012.
Segregation of Duties– Sponsored Programs APM
Managing Your Grant Roberta Teliska Vice President for Sponsored Programs Operations The Research Foundation of SUNY October 6, 2008.
TRAINING Accounts Payable Year End Close Process Presented by: Sandra King, Office of Business Services.
End User Changes GO LIVE May 13, 2010 PS Grants Implementation.
NC CFW Expenditure reports How to complete and submit an expenditure report Expenditure reports How to complete and submit an expenditure report.
Sponsored Programs Accounting Managing External Funding Welcome & Introductions.
Financial Closeout Reminders OSR Post-award School of Medicine Team February 11, 2009.
Prepared by the Office of Grants and Contracts How to Read Your Monthly Grant Budget Reports…
Award Transfers Office of Research Services ORS Brown Bag November 20, 2006.
1 Grants Management (GM) Focus Monthly Accounting Reconciliation Process.
AWARD MANAGEMENT Post Award By Maria Rojas College of Engineering Manager, Sponsored Programs.
City of Chicago Comptroller’s Office Voucher Audit and Tracking Unit (Revised 04/06/09) Common Problems with Delegate Agency Invoices.
Contracts and Grants Accounting C&G Training Presentation May 7, 2014 Award Closeout Procedures Effective July 1, 2014.
Outstanding Obligations List Division of Financial Services – Sponsored Programs March 2014.
Daily Management of Awards Jennifer Crockett Jennifer Crockett, Director, Sponsored Projects Finance, Columbia University Tamara Hill Tamara Hill, Manager,
Introduction Guy Narine Manager, Newark Grants Office Phone: (973) Fax: (973) –
“SPEAR” WORKSHOP O CTOBER 19 & 30, 2015 TIFFANY FAHEY & JESSICA LAMBDIN C LOSEOUTS.
Departmental Post-Award Account Management September 29, 2015 Denise Elwart Physiology Human Medicine Erin Gorman Obstetrics Gynecology.
1 FIRST UIC ADMINISTRATIVE STAFF LEADERSHIP CONFERENCE Striving for Excellence March 8 th & 9 th, 2007 Workshop Session: 3 D Best Practices for Sponsored.
Cost Sharing. Objectives Review roles and responsibilities Facilitate pro-active, continuous monitoring of cost share commitments Review Cost Share Summary.
I have a Grant, Now What??! John Hulvey Office of Sponsored Programs Administration and Accounting.
What are they? Where do they come from? How do I make them go away? 1.
UGA Restricted Account Management and Closeout May 10th, 2007.
Lifecycle of an Award Reporting, Close-outs and Audits Michelle Vazin, Vanderbilt University Michele Codd, George Washington University.
Year-End 2012 Last Updated: May 11, Year End This session will: –Provide important information designed to educate departments on year end processes.
Sponsored Project Administration Fall 2012 CERTIFICATION PROGRAM Sponsored Project Lifecycle Introduction Overview Creating a Project Budget Compliance.
Closeout Project Update & Phase 1 Tech Launch April 28, 2016 ORS Quarterly Meeting Valerie Abbott RACI.
VETERANS BENEFITS ADMINISTRATION VETERANS BENEFITS ADMINISTRATION EDUCATION DEBT MANAGEMENT Debt Resolution – Collections APRIL 17, 2013.
Karen Epps, ED Program Officer June 22, Technical Assistance Workshop.
Subcontracts Overview ASRSP- Spending & Payment. Subcontract Payment Process ASRSP- Spending & Payment.
Post-Award Grant Administration Presented by: Sponsored Program Accounting Updated: Fiscal Year 2014.
Fiscal Year-End Review Session Sponsored Projects Accounting
Award Management Post Award By Ana Ayala College of Engineering Director of Finance.
Award Closeout Checklist Discussion
Reading a Sponsored Programs Financial Statement
Fiscal Year-End Review Session Sponsored Projects Accounting
Sponsored Programs at Penn
Post-Award Grant Administration
Year-End Closing of the Books FY 2018.
Sponsored Program Closeouts
Post-Award Grant Administration
A Presentation to: Wisconsin Government Finance Officers Association
Office of Grants and Contracts Presenter: Stephanie Chandler-Thompson
Presentation transcript:

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)