Finance Division Hythe Bridge Street Oxford OX1 2EP Administrative Processes Meeting Stephen Barker, Interim Head of Research Accounts

Administrative Processes Meeting Research Accounts: Responsibilities Research Accounts Post-award support Set up grants on Oracle All claims and billing Support funder requests Monitor sponsor debt Manage funder compliance requirements Guidance for Departments Support Training

Administrative Processes Meeting Research Accounts: Set up Projects are set up based upon the information provided in X5 Projects need to reflect the contractual terms:  Budgets  Allowable expenditure headings  Overhead rates  Collaborators  Customers Research Accounts will check to ensure accurate setup Correct set up first time as some pieces of information will be difficult to change at a later date and may require new projects to be created. Research Accounts will only set up collaborator budgets once collaboration agreements have been signed. Collaborator budgets are set up under separate top tasks and will only allow non-Oxford expenditure types

Administrative Processes Meeting Research Accounts: Funder Reporting Research Accounts issue invoices to funders and are responsible for all financial reporting to sponsors. Funders have a variety of interim and final reporting requirements  Non-compliance can lead to penalties or withdrawal of funds  Many funders require you to keep time sheets to evidence of time spent on the award e.g. Research Councils, Innovate, European Commission Variety of different reporting methods.  Funder portals  Funder specific reporting templates Reporting needs to be in line with the Terms and Conditions in the award letter  Spend against awarded budgets  Spend is within the allowed timeframes for the funder  Where there are annual budgets, spend must be in the correct periods and separate sequential projects created – is there a budget carryover? Wellcome Trust require quarterly reporting on all grants with explanations of any movements in the spend trend against budgets

Administrative Processes Meeting Research Accounts: Funder Reporting (cont) Conditions on purchases  Spend is within the allowed timeframe. RC do not allow equipment purchases in last 6 months of award  Must comply with University Purchasing Policy Many funders have the right to audit  European Commission, CRUK, Wellcome Trust, RCUK etc Common audit issues  Adjustment journals  Volume of transactions in the final months of the project  Dis-allowed expenditure  Expenditure by individuals not named on the award letter

Administrative Processes Meeting Research Accounts: Close Out Research Accounts will contact the department to ensure all costs have been allocated to the project before a final statement, invoice or report is issued. All projects should be reported on within 3 months of the end date unless the contract states otherwise Projects can only be extended with written approval from the funder Budgets can only be amended with written approval from the funder Once any outstanding debt is received Research Accounts will close out the project and post residuals to the departments general ledger if necessary