1. Sponsored Project Training Program Post Award Grant Lifecycle and Tools October 12, 2011 Jennifer Gagnon & Sudha Ramaswami Sponsored Project Training Program1

2. Objectives Recommend effective and efficient post- award grants management practices Ensure all grants are ready to be closed and reported on by 30 days after grant end date Reduce compliance risks related to cost transfers and late reports Promote use of advance accounts Proactive PurCard management Sponsored Projects Training Program2

3. Objectives Recommend PeopleSoft reports, queries, and pages (tools) for effective grants management Review best practice of how and when to use these tools Discuss resources available for interpreting the data Sponsored Projects Training Program3

4. Grant lifecycle topics Brief overview of general grants management topics Best Practices in post award ◦ Setup ◦ Management ◦ Closeout Sponsored Projects Training Program4

5. Post-Award Best Practice Award Setup Choosing the advanced account route Upon the setup of the chartstring  SPA will notify the PI, department administrator, and Dean’s Office Department administrator should meet with the PI to discuss the following:  Start date of research and Pre-award spending  Personnel expending effort on the grant  Compare committed effort to actual effort  Ensure there are no reductions in effort greater than 25% or absences of more than three months  Must make changes to any applicable distribution forms Grant cost share requirements  Use faculty workload form/routing form to determine the funding source for cost share commitment  Change applicable distribution forms  Contact Dean’s Office for budget transfer to cost share chartstring Sponsored Projects Training Program5

6. Advance Accounts (AA) Formerly called Guaranteed Funding Policy drafted & circulated for public comment New policy & process training in December Develop advance account memo upon notification of funding from sponsor  Collaborative effort between the PI and department administrator  Allows SPA to create a chartstring in PeopleSoft AA requests must be routed through InfoEd prior to set up in PeopleSoft Sponsored Projects Training Program6

7. Pre-Award Spending Some sponsors allow for pre-award spending  Spending up to 90 days prior to award start date Pre-award spending memo  Must obtain and complete a pre-award spending memo  Work with appropriate post-award administrator  http://www.uvm.edu/spa/?Page=formslibrarychart.html http://www.uvm.edu/spa/?Page=formslibrarychart.html Sponsored Projects Training Program7

8. Post-Award Best Practice Award Management Key considerations in award management Perform on a monthly basis:  Run the Project Monthly Budget Report for all departmental grants  Monitor for overdrawn or over encumbered projects  Review expenses for allowability  Provide PIs with a copy of the reports  Review and resolve all budget checking errors  Use either the Closeout Report or query “UV_GM_KK_ERRORS_ALL” (financial module)  Review and submit all journal entries awaiting submission or posting  Use either Closeout Report or query “UV_RC_GL_JE_NOT_SUBMITTED” (financial module) Sponsored Projects Training Program8

9. Award Management (cont.) Perform on a quarterly basis:  Run the Closeout Report for all departmental grants  Ensure personnel are not distributed past end date of grant  Use query “UV_DIST_PAST_PROJECT_END_DATE” (HR module)  Compare committed effort to actual effort  For both the PI and key personnel  Ensure no reductions of greater than 25% or absences of more than three months  Meet with PI to review grant budget status, effort, and upcoming quarter plans  Make prospective distribution changes as necessary  Run Cost Share Summary Ensure cost share commitments are met (including third party) Sponsored Projects Training Program9

10. PurCard Management Ensure departmental PurCard holders  Understand and apply specific award, sponsor, and federal regulations and University policy  Reallocate only allowable costs to sponsored project chartstrings  Reallocate PurCard expenses to the correct chartstring by the University deadlines to avoid future cost transfers  Change the default chartstrings for PurCards at the time of closeout of a grant. Sponsored Projects Training Program10

11. Prior Approval Sponsor prior approval is often required for the following situations  PI or key personnel reduction of committed effort by 25% or more  Ex. If committed effort was 20% but the actual effort is 12.5% this represents a deviation of 37.5%  The 3 month absence of a PI or key personnel from grant  Change in scope of the project  Significant changes in the project budget  See individual award documents for specific guidance  Deviation from award terms and conditions All sponsor requests for prior approval should be routed through Sponsored Project Administration Sponsored Projects Training Program11

12. Rebudgeting May request rebudgeting as needed  See award document or contact post-award administrator to determine if prior approval is required by sponsor  Department administrator should contact post-award administrator for rebudgeting in PeopleSoft Sponsored Projects Training Program12

13. Budget Checking Errors Sponsored Projects Training Program13 Budget Checking Error Name Ledger Group When does this occur? Budget Date out of BoundsSP_CHILD2In salary, fringe, and operating transactions that are budget checked more than 30 days after the end date of a project period. No Budget ExistsSP_CHILD2In salary, fringe, or operating transactions when the chartstring used in the transaction is not set up in Commitment Control. Exceeds Budget ToleranceSP_PARENTWhen a project is overdrawn or over encumbered. Budget is ClosedSP_PARENTOnly if a project is closed in budget definitions in KK. The project is closed in KK upon completion of the final financial report.

14. Budget Checking Errors Sponsored Projects Training Program14 Budget Checking Error Name Process to resolve errors Budget Date out of Bounds Verify you are charging the correct chartstring. If so and expense was incurred before the grant ended and the final financial report has not yet been submitted, please provide backup documentation to the post award administrator. Error will be overridden if appropriate. No Budget ExistsVerify you are charging the correct chartstring. If the chartstring is valid and the expense is appropriate and allowable, ask the post award administrator to create a $0 budget. If the chartstring is invalid or the expense is unallowable, correct the chartstring and budget check the transaction again. Exceeds Budget Tolerance Review award and work with the post award administrator to determine best course of action if future funding is expected or encumbrances are incorrect. In most cases, the transaction should be allocated to a different chartstring and budget checked again. Budget is ClosedThis error should occur only on projects that have already been reported to the sponsor. The chartstring should be changed on the transaction.

15. Post-Award Best Practice Award Closeout SPA will notify departments of grants ending within 90 days on a monthly basis  Department administrators meet with PIs to discuss:  Closeout process  Cost share activities  Assist with a no cost extension if needed Sponsored Projects Training Program15

16. Award Closeout (cont.) Closeout Timeline: 30 days prior to grant end date:  Run Closeout Report  Review expenses to ensure they are allowable  Review all salary expenses for allowability, allocability, reasonableness, consistency  Use query “UV_PAY_ERN_DIST” (HR module)  Notify internal billers of any chartstring changes  Change default chartstring for relevant Purcards and expense reports  Resolve budget checking errors  Use either the Closeout Report or query “UV_GM_KK_ERRORS_ALL” (financial module)  Contact Procurement Services to close all operating encumbrances  Ensure cost share commitments will be met (including third party) Sponsored Projects Training Program16

17. Award Closeout (cont.) Closeout Timeline (cont.): 20 days after grant ends:  Run Closeout Report and resolve any remaining issues 30 days after grant ends:  Confirm with SPA that grant is ready to close and the final report is ready to be completed Sponsored Project Administration prepares and submits final financial report to sponsor and soft closes award to prevent additional transactions from posting Sponsored Projects Training Program17

18. PeopleSoft Tools What you should know... Basic understanding of sponsored projects Familiarity with basic and mid-level PeopleSoft (monthly budget reports, journal entries, expense reports, PurCards, Time & Labor) Basic Excel usage Financial forecasting and analytical skills Attended previous sessions in this Sponsored Projects Training Program Sponsored Projects Training Program18

19. PeopleSoft Tools Reports ◦ Monthly Budget Reports - Projects ◦ Closeout Report ◦ Cost Share Summary ◦ Budget Transaction Detail Report Sponsored Projects Training Program19

20. PeopleSoft Tools Queries HCM: ◦ UV_PAY_ERN_DIST ◦ UV_DIST_PAST_PROJECT_END_DATE FINANCIALS: ◦ UV_GM_KK_ERRORS_ALL ◦ UV_RC_GL_JE_NOT_SUBMITTED ◦ UV_GM_FINDINGAWDTHRUREFAWD ◦ UV_GCA_PROJ_RESOURCE Sponsored Projects Training Program20

21. PeopleSoft Tools Pages FINANCIALS: ◦ Budgets Overview ◦ Award Profile Sponsored Projects Training Program21

22. MONTHLY BUDGET REPORT – PROJECTS (PMBR) Navigation: UVM Reports > Budget Reports > Monthly Budget Rpt – Projects General use ◦ Review monthly for budget vs. actuals, encumbrances, and possible unallowable expenses The report can be run to excel and therefore the data may be manipulated for personal reports Sponsored Projects Training Program22

23. PMBR Sponsored Projects Training Program23

24. PMBR Recommended use ◦ Check the ‘Financial Data in XLS’ option and in the output filter for  Possible unallowable expense categories  Expenses that require possible prior approval  Equipment  Foreign Travel ◦ Review for possible rebudgeting  See NGA for restricted items  Work with PI and PAS administrator for those items requiring prior approval ◦ Check salary distributions and fringe  Review PI and key personnel committed effort  Work with PI and PAS administrator for those items requiring prior approval Job Aid - http://www.uvm.edu/hrs/?Page=skills/manuals/financialreporting.htmlhttp://www.uvm.edu/hrs/?Page=skills/manuals/financialreporting.html Sponsored Projects Training Program24

25. PMBR Report use frequency - monthly It is important to note that the payroll encumbrances are through UVM’s fiscal year-end (June 30) only, which typically does not match the award end date. ◦ Payroll expenses should be projected through the award end date This report captures only those transactions that have been posted to the General ledger (GL). ◦ Any transaction that has been budget checked but not posted will not be reflected here. SPA prepares interim financial reports and invoices based on actuals posted to the GL at the end of a specific accounting period ◦ PMBR will reconcile to these reports and invoices Sponsored Projects Training Program25

26. CLOSEOUT REPORT Navigation: UVM Reports>Closeout Report General use ◦ The best tool to get a comprehensive snap shot of the project ◦ It provides sponsored and cost share budget balances, lists all the exceptions that need to be addressed and much more Sponsored Projects Training Program26

27. CLOSEOUT REPORT Possible parameters Sponsored Projects Training Program27

28. CLOSEOUT REPORT Recommended use ◦ Review the demographic information (in the header of the report) ◦ Compare budget to actuals for both sponsored and cost share chartstrings ◦ Review salary encumbrances ◦ Journal Entries/Expense Reports/Vouchers/Purchase Orders stuck in budget checking errors ◦ Purcards/Expense Reports with a default chartstring tied to the project ◦ Open Purchase Orders and Requisitions – check to see if encumbrances are still needed ◦ Upcoming Reporting Milestones  Any Interim Reports due  Final report due dates Job aid - https://www.uvm.edu/hrs/?Page=skills/manuals/financial reporting.htmlhttps://www.uvm.edu/hrs/?Page=skills/manuals/financial reporting.html Sponsored Projects Training Program28

29. CLOSEOUT REPORT Report use frequency ◦ Run quarterly for all department grants ◦ Run 30 days prior to grant expiration and both 20 and 30 days after grant ends Sponsored Projects Training Program29

30. COST SHARE SUMMARY Navigation: UVM Reports>Cost Share Summary General use ◦ A snap shot of the mandatory cost share requirements, budget, and actuals for ongoing monitoring Sponsored Projects Training Program30

31. COST SHARE SUMMARY Possible parameters Sponsored Projects Training Program31

32. COST SHARE SUMMARY Recommended use ◦ Cost share budget, actuals, encumbrances, and budget balances compared to project start and end date ◦ Ensure commitments will be met by the end of the project period, including third party ◦ Resolve potential overdrafts in cost share chartstrings prior to the end of the project period Cost Share Business Process & Summary Job Aid - http://www.uvm.edu/spa/?Page=costsharingcommitme nts.html http://www.uvm.edu/spa/?Page=costsharingcommitme nts.html Sponsored Projects Training Program32

33. COST SHARE SUMMARY ◦ Report use frequency  Run and review quarterly Sponsored Projects Training Program33

34. BUDGET TRANSACTION DETAIL REPORT Navigation: Commitment Control>Budget Reports>Budget Transaction Detail General use ◦ Research a transaction that may have posted during a prior accounting period ◦ Used as back up for Journal entries ◦ Secondary to the Monthly Budget Report - Projects and should only be used for research Sponsored Projects Training Program34

35. BUDGET TRANSACTION DETAIL REPORT Possible parameters Sponsored Projects Training Program35

36. BUDGET TRANSACTION DETAIL REPORT Ledger Group Detail KK will return transactions for all the types of projects ◦ Ledger group is active effective 07/01/2008 Ledger Group Child2 will return transactions for the old Ledger Group Child1 as well This report will give the details of transactions that have a valid budget status ◦ This will differ from the monthly budget report in all those cases where the journals/expense reports have not been posted to the General Ledger Sponsored Projects Training Program36

37. UV_PAY_ERN_DIST QUERY Navigation: HR module – Reporting Tools>Query Viewer> Type in the query name General use ◦ Great tool to review the individuals and the salary on a project Quick things that can be used to check using this query ◦ People distributed to this project/chart string ◦ Dollar amount per person ◦ Type of pay received (vacation, overtime, etc) ◦ Check against Monthly Budget Report – Projects  In order to reconcile with PMBR, the period has to be closed to ensure payroll is posted. Link to the job aid: http://www.uvm.edu/hrs/skills/manuals/queries.pdf http://www.uvm.edu/hrs/skills/manuals/queries.pdf Query can assist with trouble shooting information in PMBR Sponsored Projects Training Program37

38. UV_DIST_PAST_PROJECT_END_DATE Navigation: HR module – Reporting Tools>Query Viewer> Type in the query name General use ◦ Lists all people across departments who are distributed to a specific project past the project end date Things to check ◦ Useful at closeout of an award ◦ Should be run at least quarterly to find out who is still distributed to a project ◦ Trigger to request a no-cost-extension ◦ Trigger to remove people from project – possible terminations involved (timing of notice, vacation calculations) Sponsored Projects Training Program38

39. UV_GM_KK_ERRORS_ALL Navigation: Finance module - Reporting Tools>Query Viewer> Type in the query name General use ◦ Lists all budget checking errors as of a particular date ◦ Used by GCA in contacting you to clear certain budget checking errors ◦ Extremely useful during closeouts and at year end ◦ Use this query instead of the project closeout report to get a list of all budget checking errors for all grants in your unit Can be run by transaction type – Salary journals, regular journals, expense reports or for a particular ledger group – SP_CHILD2 or SP_PARENT for grant related budget checking errors Run monthly to review and resolve budget checking errors Sponsored Projects Training Program39

40. UV_RC_GL_JE_NOT_SUBMITTED Navigation: Finance module - Reporting Tools>Query Viewer> Type in the query name General use ◦ Lists journal entries that have not been submitted or posted ◦ Used by Financial Reporting and Analysis department during month end ◦ This information is also available on the closeout report Useful during ◦ Month End ◦ Project close out Sponsored Projects Training Program40

41. UV_GM_FINDINGAWDTHRUREFAWD Navigation: Finance module - Reporting Tools>Query Viewer> Type in the query name General use ◦ Used for locating awards using the sponsor award number ◦ A quick way to locate any new awards or awards that are on Guaranteed Funding/Advanced Account ◦ Should be run as needed Sponsored Projects Training Program41

42. UV_PROJ_RESOURCE Navigation: Finance module – Reporting Tools>Query Viewer> Type in the query name General use ◦ Basically an expenses only version of the Monthly Budget Report – Projects Monthly Budget Report - Projects includes the details in this query plus budget information. We recommend that you use the PMBR in place of this query. Sponsored Projects Training Program42

43. BUDGETS OVERVIEW Navigation: Commitment Control>Review Budget Activities>Budgets Overview General use ◦ Quick snapshot of the project budgets and expenses including cost share information at any point in time (live) ◦ Not used for reports or invoices to the sponsors or for University financial statements Quick things that can be ascertained ◦ Total budget of the award ◦ Expense Categories ◦ Chartstrings ◦ Estimated budget balance Can be run for sponsored or cost share chartstrings or both Sponsored Projects Training Program43

44. AWARD PROFILE Navigation: Grants>Awards>Award Profile General use ◦ Provides award demographic information and other helpful details for effective grants management Gives the demographic info of an award ◦ PI name/Co-PIs ◦ Sponsor name ◦ Amount of Funding ◦ Start and End dates ◦ Milestones – Reporting and otherwise ◦ Grant Administrator link The additional information link that gives a variety of info ◦ Cost Share ◦ Related Awards ◦ Any other special terms Sponsored Projects Training Program44

45. Learning Resources How to run reports/report questions: Open Labs, Learning Services Classes, Footprints ◦ http://www.uvm.edu/hrs/?Page=skills/develop_skills.html http://www.uvm.edu/hrs/?Page=skills/develop_skills.html Sponsored Project Training Program ◦ http://www.uvm.edu/spa/?Page=sptp.html http://www.uvm.edu/spa/?Page=sptp.html ◦ Fall 2011 offerings:  Subawards and subcontracts  F&A Costs and Cost Policy  New UVM Policies Effecting Grants Sponsored Projects Training Program45

46. Award Management Resources Resources:  Basic Financial Reports Mini-Manual: http://www.uvm.edu/hrs/skills/manuals/basicfinancialreports.pdf  Cost Share Summary job aid: http://www.uvm.edu/spa/?Page=costsharingcommitments.html  Advance Accounts: http://www.uvm.edu/spa/?Page=advancedaccounts.html  Electronic Salary Distribution Forms: http://www.uvm.edu/hrs/skills/manuals/electronicsalarydistributionfor m.pdf  Monthly Business Processes: http://www.uvm.edu/hrs/skills/manuals/monthlybusinessprocesses.pdf Sponsored Projects Training Program46

47. Process Questions/Contact info Dean’s Office Sponsored Project Administration ◦ http://www.uvm.edu/spa/ http://www.uvm.edu/spa/ ◦ 217 Waterman Building ◦ 6-3360 Sponsored Projects Training Program47

48. Conclusion Through pro-active award management and use of advance accounts: ◦ Virtually eliminate the use of departmental suspense for actual salary/benefits expenses ◦ Significantly reduce retroactive salary distribution changes ◦ Ensure all grants are ready to be closed out and reported on by 30 days after grant end date ◦ Reduce compliance risks related to cost transfers and late reports Recommended PeopleSoft reports, queries, and pages (tools) for effective grants management Reviewed best practice of how and when to use these tools Discussed resources available for interpreting the data Sponsored Projects Training Program48