7 th annual post award workshop march 20, 2008 sponsored by: vice president for research research...
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7th Annual Post Award WorkshopMarch 20, 2008
Sponsored by:Vice President for Research
Research Accounting
Goals/Objectives
• Introduction to the Post Award Process• Provide information and links for future
reference• Answer specific questions• Get to know each other
Research Accounting Staff487-2244
Julie Seppala, [email protected]
Tammy LaBissoniere, Assistant [email protected]
Stacey Corrigan, Senior Research Accountant Tom Holzberger, Assistant Research Accountant Federal Pass-Through, State Federal Pass-Through, Foreign & Foundation Project Setup & Close-Out Project Setup & Close-Out
[email protected] [email protected]
Kate Wells, Assistant Research Accountant Kelly Kallio, Assistant Research Accountant Sponsored Billing, Industrial & Various Sponsored REF/Faculty Scholarship Project Setup & Close-Out Project Setup & Close-Out
[email protected] [email protected]
Christine Gruver, Office & Account Assistant Karen Foltz, Office Assistant Expenditure Review Support Staff
Sponsored Project Responsibilities
• General Fiscal Responsibilities• Research Accounting• Principle Investigator (PI)• Department Chair/Director
General Fiscal Responsibilities• Every university employee• Compliance with university policies• Compliance with federal and other agencies
policies• Should the expense be paid from public funds?• Checks and balances are needed at every level
Research Accounting• Establish Projects in accounting system• Review expenses for compliance• Prepare reimbursement requests• Assist PI in the financial close of projects• Collect outstanding receivables from
sponsoring agencies
Principle Investigator (PI)• Management of expenditures• Appropriateness and reasonableness of
expenditures• Initiation of budget and/or other modifications• Preparation of technical reports/deliverables• Review of monthly accounting statements• Review and approval of effort reports for each
program
Department Chair/Director• Approve departmental cost share or matching• Monitor faculty and staff effort• Approval of substantial modifications to the
award• Oversight of project administration by the PI
Facilities & Administrative Costs/Indirect Costs/Overhead
Expense categories subject to F&A
• Salaries and wages• Fringe benefits• Travel• Supplies• Services
Expense categories not subject to F&A• Equipment• Tuition for GRA’s• Sub agreements greater
than $25,000
Incentive Returns• Distribution
– PI 6%– Dept 12%– College 7.3%– Institute/Center 34.7%
• Deposited in E35 index, quarterly basis• Funds to be spent on items that enhance
research and graduate studies
How to Read an Account Statement
• Index number coding• Summary• Detail transactions• Payroll/labor distribution• Open PO
Index Number Coding• E2 & E34 – Sponsored• E35 – Incentive• E0 – Enterprise, Senior Design, Research Related
Gifts• A1 – General Fund• D – Start Up, Unrestricted Gifts, Equipment Use
Budget vs. Actual by Account Codehttp://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf
• Summarizes the project budget and expenses by category
• Provides the balance of unspent funds for the index as a whole
• Provides the start date, end date and applicable F&A rate
Detail Transaction/Organization Detail Activity
http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf
• Provides individual transactions by the source document number
• Travel, purchase orders, check request, etc.• Used to verify all transactions were expected
Open Purchase Order/Open Encumbrances
by Dept and Financial Managerhttp://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf
• Provides a listing of all outstanding purchase orders (PO’s)
• Used to verify that all PO’s listed were expected
Labor Distribution/Gross Earnings Payroll Expense
http://www.admin.mtu.edu/acct/dept/mtuonly/fygor501b2.pdf
• Provides listing of all the individuals compensated/paid
• Used to verify that all individuals listed were expected
How You Receive Your Award & Index Number
• RSP receives paperwork• PI & RSP review the term & conditions• RSP routes for authorized signatures• RSP routes fully executed award to PI & RA• RA sets up index number in Banner• RA informs PI & Dept Coord. the index #
– Multiple index numbers may be assigned
Questions to Ask Before Spending
• Are there enough funds available?• Is the expense within the start and end dates?• Is the expense allowable?
Payroll Forms
• Faculty – Change of distribution form• Faculty – Employee change status form• GRA – Pink status form
Unallowable Costs• General purpose office
supplies:– Paper– Printers– Printer cartridges– Copy charges– Telephone charges– Postage
• General purpose computers
• Tuition for GRA’s is allowable only when the student is receiving stipend from that same award
Prior Approval From the Sponsor
• Equipment purchases require prior approval from the sponsor if the equipment was not originally budgeted or disclosed in the proposal budget or budget justification
• Other prior approval restrictions will be noted on the activity sheet
Budget Flexibility
• External/Sponsor dictated budget constraints will be noted on the activity sheet
• Internal budget flexibility is normally 25% variance of the budget category
• Internal budget modification guidelines
Thank You for Attending
• Call 487-2244 if you have any questions• Please fill out the evaluation form• Refer to our website at:
http://www.admin.mtu.edu/research/vpr/research_accounting/index.html
• THINK SPRING!!! IT HAS TO COME SOMETIME