1. 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

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

3. 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

4. Policies and Procedures Roles and Responsibilities Institution 4

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

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

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

8. 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

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

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

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

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

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

14. 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

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

16. 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

17. 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

18. QUESTIONS?? 18

19. Contact Information: Jennifer Crockett Columbia University jcrockett@columbia.edu Tamara Hill University of North Carolina Charlotte thill55@uncc.edu 19