Quality Research Administration Meeting September 2012

Agenda PHS COI Update Departmental Administrator's Role in Proposal Preparation Federal Update Export Controls Kuali Coeus Update Record Retention Policies for Contracts and Grants Accepting Foreign Currency Awards Nadia Wong and Allison Ramos Allison Ramos, Lauren Ryan and Jonathan Lew Jeff Warner Marci Copeland Barbara Inderwiesche Tam Tran Nancy Lewis September 2012 QRAM

Sponsored Projects Administration Update  Staff Update Nancy Lewis Director, Sponsored Projects Administration September 2012 QRAM

Sponsored Projects Administration Update  Accepting Foreign Currency Awards Nancy Lewis Director, Sponsored Projects Administration September 2012 QRAM

Foreign Currency Awards Some awards from Foreign Sponsors require the acceptance of foreign currency Ex: Research and fellowship awards funded by the European Commission Fluctuations in currency exchange rates create uncertainty regarding the final award amount Departments must monitor the actual amount received to avoid potential financial liabilities that may result from unfavorable exchange rates. September 2012 QRAM

Foreign Currency Awards Sponsored Project’s Process  Sponsored Projects attempts to negotiate US dollars for all foreign sponsored awards.  If attempts are unsuccessful, Sponsored Project Officer will obtain consent from the PI and Department Chair to accept foreign currency.  Once accepted, the award synopsis is prepared using the exchange rate as of the date that the award is processed. Please note that the award synopsis will not be adjusted based upon the amount received.  Department must review the payment terms/schedule to determine when payments will be made in order to monitor the actual amount received from the sponsor.  Contract and Grant Accounting should be contacted to determine the actual amount received from the sponsor. September 2012 QRAM

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