Daily Management of Awards Jennifer Crockett Jennifer Crockett, Director, Sponsored Projects Finance, Columbia University Tamara Hill Tamara Hill, Manager, Office of Grants and Contracts Administration, University of North Carolina Charlotte 1

Overview Best Practices for Managing Awards Pre-Award Post-Award Close-Out Ongoing Compliance Concerns Tips and Tools Training 2

Pre-Award Receipt of Award Proposal Preparation Set up Account Project Budget Notify Faculty Award Negotiation Audit Compliance with terms & conditions, Federal regulations Post Award Project accounting Transaction review Cash Advances Billing Reimbursements Receivables/Collections Financial Reporting Project Close-out Terminate account Submit final reports Award Cycle 3

Policies and Procedures Roles and Responsibilities Institution 4

Pre-Award Proposal Preparation Deadlines (RFA, RFP, PA, Non-Solicited) Agency Guidelines Budget Projections Negotiations 5

Receipt of Award Review Awarding Instrument Prior-Approval Requirements Budget Restrictions Carry-over limitations Establish Account Notify all Involved Parties 6

Managing the Award Spending Personnel Cost Sharing Allowable vs. Unallowable (OMB Circulars) Subcontracts Procurement Cards 7

Managing the Award Monitoring Subcontractors Approving Invoices Prime is responsible for the subcontractors performance PI MUST approve the payment Verify the Math Look for Obvious Errors Site Visits 8

Managing the Award Procurement Cards Enforce Written Policy Documentation Using Sponsored Projects Account as Default Set Dollar Limits Audit Frequently 9

Managing the Award Verifying Expenditures Documentation Cost Transfers Grant Reports (to Faculty) 10

Project Close-Out Terminate Spending Final Reconciliations Submission of Reports Financial Technical Invention Statements Property Reports 11

On-Going Concerns Foreign Travel Budget Reallocations Supplemental Request to Awards Cost Sharing Documentation *Effort Reporting *Audits 12

On-Going Concerns - Effort Reporting Importance in Audits Accurate the first time PI’s Review Signed and Reported Timely 13

On-Going Concerns - Audits  Auditors test for: Unallowable Costs (focus on cost transfers) Documentation to Support the Charges to the Award Reasonableness and Allocability of the charge Program Income Timeliness of Reports 14

On-Going Concerns - Audits  Keys to a Successful Audit Organized Files Documentation for Expenses Appropriate Approvals Audit Trails Knowledge of Policies and Procedures 15

On-Going Concerns - Audits  Auditor Management Don’t Ramble or provide additional information – give short, concise answers Always accompany the auditors when they visit the PI Keep track of all questions and responses 16

Training  The key to ensure proper management of sponsored projects is training of all personnel At minimum topics should include Circulars and Institutional Policies & Procedures Should be Offered Consistently and Frequently Can be formal and informal (i.e. brown bags vs. workshops) External training opportunities (i.e. NCURA, SRA, Sponsor offerings) 17

QUESTIONS?? 18

Contact Information: Jennifer Crockett Columbia University Tamara Hill University of North Carolina Charlotte 19