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Research Administration and Finance

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  1. Research Administration and Finance Post Award Financial Management Training

  2. Post Award Financial Management Training • Select Topics • Goals • Audits • PI Approval • Cost Share • Unallowable Costs • Cost Transfers • RA&F Reports Post Award Financial Management Training

  3. Goals Grants management Discuss top audit issues Starting point for expanded training Post Award Financial Management Training

  4. Examples of Different Types of Audits • Pre-Award audit • A-133 Audit • Grant/Contract audit • System audit • F&A Audit • Fringe Audit • Desk Audit Different types of auditors • Internal (FreedMaxick) • External (PricewaterhouseCoopers) • Sponsor (Fed, State, etc.) Post Award Financial Management Training

  5. PI Approval PI approval is required for purchases and other decisions • Email is Okay Delegation is allowed in some circumstances but must be in writing Auditors specifically look for this when reviewing expenditures Use Concur and OSCAR document purpose of trip and relation to award • Upload PI approval and other related documents • Concur note fields can also be used Post Award Financial Management Training

  6. Cost Share Using the “J” or “L” Code Grant number is also setup as the program code This allows for the tracking of grant related charges on other types of funds The Uniform Guidance seeks to restrict voluntary committed cost share Post Award Financial Management Training

  7. Unallowable Costs Alcoholic Beverages • Absolutely not directly chargeable on sponsored funds nor included in indirect cost rate • Have been found on awards • Be sure to categorize alcoholic beverages properly in Concur • Business Meals – Alcohol • Employee Events – Alcohol • Alcohol Post Award Financial Management Training

  8. Cost Transfers Late transfers (more than 30 days) Transfers at the end of a project to use up the fund balance Transfers between federal projects Improper authorization Lack of clear, specific, detailed explanations Transferring-out when account is in deficit Transferring-in when account has a surplus and is ending Salary transfers where effort was previously certified as correct Post Award Financial Management Training

  9. RA&F Reports Overexpended Report • Sent monthly to Biz Admin & Biz Mgr • Show grants that have exceeded their total budget Grants Ending • Show grants 30, 60 and 90 days from end date • Copy is sent to PI, Biz Admin and Pre-Award Labor Verification Statement (LVS) • Produced for spring, summer and fall semesters Post Award Financial Management Training

  10. Questions/comments? Postaward_RAF@rpi.edu Post Award Financial Management Training