1. Grant Financial Reporting

2. Importance of Accuracy Each Contract specifies that the grantee must have accurate accounting records – Grantee financial management system shall provide Accurate, current and complete disclosure of financial results of each project, agreement, or contract Records that adequately identify the source and application of funds Effective internal and accounting controls over funds Comparison of actual outlays Accounting records that are supported by source documentation Procedures for determining reasonabless, allowability anf allocability OMB Uniformed Guidance – Accurate, current, and complete disclosure of the financial results of each Federal award or program in accordance with the reporting requirements set forth in §§ 200.327 Financial reporting Federal Register | Uniform Administrative Requirements, Cost Principles, and Audit... Page 110 of 303 https://www.federalregister.gov/articles/2013/12/26/2013-30465/uniform- administrative-re... 11/3/2015 and 200.328 Monitoring and reporting program performance.https://www.federalregister.gov/articles/2013/12/26/2013-30465/uniform- administrative-re... 11/3/2015 Deadlines Large fines for inaccurate/untimely reporting

3. Auditor After the Fact Accountant GAAP A-133 Budget Unit Divisional Accountant & PI Project Investigator Project Completion Different Views

4. Allowable – Conforms to any limitations or exclusions set forth in the OMB Uniform Guidance or in the award document as to they type and amounts of cost items – Determined in accordance with Generally Accepted Accounting Principals (GAAP) Allocable – Cost is allocable to a particular cost objective in a grant in accordance with the benefits received – Cost is treated consistently with other costs incurred for the same purpose in similar circumstances Reasonable – Cost does not exceed that what would be incurred by a prudent person Necessary – Recognized as ordinary and necessary for the performance of the award Consistent – Consistent with policy & procedures of the University Allowable, Allocable, Reasonable

5. Procedure http://intraweb.stockton.edu/eyos/policypro/conte nt/docs/6701_040714.pdf http://intraweb.stockton.edu/eyos/policypro/conte nt/docs/6701_040714.pdf Timeliness Federal Guidelines limit cost transfers to 90 DAYS Signatures, Documentation, Information Cost Transfers

6. PI MUST Sign Document must be Invoice number Description must include vendor name

7. Procedure http://intraweb.stockton.edu/eyos/policypro/cont ent/docs/6700_040714.pdf http://intraweb.stockton.edu/eyos/policypro/cont ent/docs/6700_040714.pdf Grants with cost share requirements will not be set up until the cost share form is received Signatures, Documentation, Information Once Set up Charge directly to the Cost Share fund Cost Share funds mimic the University funds 700000 accounts NOT 7GXXXX Reported to the Funder Must be monitored along with Grant Funds Waived Expenses will be charged by A & F Cost Share

8. Dean allowing transfer MUST sign Be Descriptive; if employee’s time MUST have Z number PI MUST Sign

9. Forms NEEDED for grant set up Banner Access Forms – No longer required PACT Forms for Hourly/TES – No longer required Cost Share Forms – If a grant has a cost share; must be completed, signed and submitted for grant and cost share to be set up

10. Grant Closeout Once working period is over – Ensure that ALL expenses are in – Administration & Finance will complete the Final report – When Final report is submitted A & F will close budget It is important that budgets get reviewed monthly – Percentages of work progress is monitored by funders – Once final report is submitted no revisions will be allowed – Monthly closeout form should be reviewed and sent to A&F

11. Monthly Review Include Detailed information Administration & Finance will sign off Once received and reviewed.

12. Uniformed Guidance https://www.federalregister.gov /articles/2013/12/26/2013- 30465/uniform-administrative- requirements-cost-principles- and-audit-requirements-for- federal-awards#print_view https://www.federalregister.gov /articles/2013/12/26/2013- 30465/uniform-administrative- requirements-cost-principles- and-audit-requirements-for- federal-awards#print_view

13. Annual A-133 Audit

17. COMMUNICATION Email – ALL Grant related emails should go to: GrantAccounting@Stockton.edu – Emails not sent to this email address will NOT be addressed timely Phone – Christy Santiago – Controller’s Office Ext 3610 – Joan Joseph – Office of Research & Sponsored Projects Ext 4327 – Jason Milewski - Controller’s Office Ext 3477

18. QUESTIONS? 101 Vera King Farris Drive Galloway, NJ 08205 Phone: 609.626.3610 GrantAccounting@Stockton.edu